With Bitcoin Spark (BTCS) gaining more traction, market observers suggest Dogecoin (DOGE) millionaires are turning to Bitcoin Spark (BTCS) for their next big payday.
What is Dogecoin?
Dogecoin (DOGE) was the first-ever meme cryptocurrency. It was launched in December 2013 by software engineers Billy Markus and Jackson Palmer as a satirical response to the proliferation of cryptocurrencies at the time. Its logo features the Shiba Inu dog from the “Doge” internet meme, which contributed to its lighthearted and fun image. Dogecoin is built on the same technology as Bitcoin but with a much faster block generation time and lower gas fees.
Why did Dogecoin take off in the first place?
Dogecoin’s initial success can be attributed to several key factors. As the first cryptocurrency to embrace the power of internet culture and memes, Dogecoin (DOGE) stood out as a fun and relatable digital asset. The playful and approachable nature of Dogecoin, with a low price, faster speeds, and low transaction costs, encouraged a vibrant community. It also captured the imagination of a new generation of crypto enthusiasts, with endorsements from high-profile individuals like Elon Musk. This, combined with a favorable crypto market, saw Dogecoin’s value surge by several multiples.
What is Bitcoin Spark?
Bitcoin Spark (BTCS) is a blockchain project that seeks to introduce a new generation of digital transactions. The blockchain assures fast transaction processing and low fees for users owing to a short block time, high individual block transaction capabilities, and a massive number of nodes.
Bitcoin Spark introduces an innovative concept of decentralized CPU and GPU rental. It uses a proprietary and groundbreaking consensus mechanism called the Proof-of-Process (PoP), which requires users to provide processing power to the network in order to confirm transactions and earn rewards. However, the PoP exponentially reduces rewards per additional power, which, combined with the network’s vast nodes, ensures a fair ecosystem, accommodating even low-powered devices. Notably, the Bitcoin Spark native application will enable Windows, Linux, macOS, iOS, and Android users to seamlessly participate in the process.
The contributed power will then be rented out for remote computing to individuals and organizations involved in high CPU/GPU load tasks. Payments will be conducted solely in BTCS, and network validators will get 97% of the revenue in addition to transaction fees and newly minted BTCS from validating blocks.
Additionally, the Bitcoin Spark application and blockchain explorer will have advertising slots, which will be community-policied and paid for in BTCS. Network participants will get a 50% share of the generated revenue plus incentives for policing the ads.
Furthermore, the Bitcoin Spark network is built with multiple layers to bolster scalability and versatility. It has a dedicated smart contract layer with separate execution systems that reach finality on the main network, enabling developers to use different high-level and low-level programming languages to create smart contracts and decentralized applications (DApps).
Why are DOGE millionaires turning to BTCS?
Dogecoin millionaires are turning to Bitcoin Spark because of several compelling factors. First, BTCS is currently selling at $3 in phase 7 of its Initial Coin Offering (ICO), which is less than 355% of its launch price of $10. Additionally, getting the BTCS token now guarantees a 7% bonus, among other benefits. Bitcoin Spark is set to launch on November 10th, which is just before the start of the expected 2024 bull run. And as seen with other low-cap gems at such times, BTCS is poised for massive price rallies. Furthermore, with more attention going towards real-world applications and innovation in the crypto world, Bitcoin Spark is bound to attract many users, developers, and projects, significantly boosting its price. Moreover, there’s a limited supply of 21 million BTCS tokens, which suggests long-term price increases as seen with low-supply cryptos like Bitcoin (BTC).
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