The Terra Luna classic Saga hit the cryptocurrency environment with an immense blow. The network’s downfall resulted from a significant disagreement with the LUNC DAO community. The dispute led the whales in the network to sell off their LUNC tokens, causing the decentralized web to stumble.
Nevertheless, the crypto environment still seeks a platform to drive industry development. Bitcoin Spark is a future-generation digital currency that has managed to capture the attention of whales in a decentralized ecosystem. The digital network has a double consensus mechanism.
What is Terra Luna Classic?
After the UST collapse, Do Kwon, CEO and founder of Terra Labs, introduced a new chain (Terra Classic) to counter the downfall. Luna Classic is considered the original Luna coin left after the launch of the new chain. A more surprising fact is that Luna Classic still carries an existing supply of Luna pegged at 6.5 trillion. Nevertheless, wrapped Luna will continue to be at par with Luna Classic.
Is Terra Luna Classic Dead?
Terra Luna Classic is yet to collapse as it has a number of participants in the network. Do Kwon state that there are amendments placed that will make the new chain work effortlessly to manage an upsurge before the next crypto bull run. The slight plummet of the Tera Luna Classic is similar to the Ethereum Classic split after the hack that split the network into two. In this case, the LUNC whale attack plunged the digital currency’s worth.
Bitcoin Spark New Era For Digital Currencies
Bitcoin Spark is a new network in the blockchain ecosystem that seeks to improve user efficiency, transparency, and scalability. The platform has a double consensus mechanism, proof-of-process, that combines proof-of-work and proof-of-stake to perform operations.
The proprietary validation mechanism allows validators and miners to participate in confirming new blocks, which leads to security improvement. In return, these validators are awarded with the newly minted BTCS tokens. Nonetheless, compared to Bitcoin, the new platform has a lightweight network that can easily be operated.
The gas token for the ecosystem is BTCS. BTCS rewards community members who actively participate in the platform’s progress. Bitcoin Spark has a maximum supply of 21 million BTCS, distributed to launch supply (4.55 million) and mining pool (16.45 million). From the launch supply, 50,000 tokens will be distributed to the team, 500,000 to pre-launch liquidity pools and exchanges, and 4 million to the ongoing initial coin offering.
The project is currently in the fifth phase of its presale, where each BTCS token can be purchased at a low price of $2.50. Blockchain users who purchase BTCS at this phase will receive a 9% bonus and capital gains during the 30th November launch period.
The cryptocurrency sphere is quickly evolving with innovations each year. In 2023, the blockchain network presented Bitcoin Spark, a digital currency platform known as the new Bitcoin fork. The network has new mechanisms, such as the double consensus validation process, that inhibit the linear distribution of rewards. Moreover, the platform is lightweight, making it possible for anyone to partake in mining activities.
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