Whales play a major role in promoting cryptocurrency projects. Whales are individuals who hold or transact crypto assets in large volumes. Their trades massively impact crypto prices, especially on projects with small market capitalization. Most whales remain anonymous, but their activities can be tracked using on-chain explorers. Their impact is mainly witnessed in upcoming projects like Bitcoin Spark with a low market cap, which allows them to buy more. How will whales affect the price of Bitcoin Sark? Let us find out.
What is Dogecoin?
Dogecoin is a digital asset that was created similarly to Bitcoin. The virtual asset is used as a payment method as well as an investment asset that offers a hedge against inflation. Dogecoin has similarities to Bitcoin. The project leverages blockchain technology and capitalizes on the proof-of-work consensus mechanism to validate transactions and approve new blocks. However, the project is heavily criticized for its high energy consumption that miners use to solve complex mathematical algorithms in exchange for DOGE.
Will Bitcoin Spark reach $1,000?
Bitcoin forks have become popular and are considered a new crypto asset class. There are over 100 forks. However, Bitcoin Spark’s utility and functionalities make it the best alternative to Bitcoin. Its detailed utility has prompted a Dogecoin whale who claimed its price is much higher than people think. While this is true, Bitcoin Spark’s roadmap depicts a unique functioning model that could propel its prices to more than $1,000 per coin.
Bitcoin Spark has an ongoing presale, which is in its third phase. During this ongoing ICO, investors have a life-changing opportunity to purchase the tokens at just $2. With the great potential of Bitcoin Spark, a significant investment now could mean generational wealth later.
One of the exclusive perks the Bitcoin alternative offers is an all-unique blockchain innovation called proof of process. This network verification method is only in the Bitcoin Spark ecosystem. The verification method encompasses Bitcoin’s proof-of-work and Ethereum’s proof-of-stake consensus systems to effectively and efficiently manage network operations and promote network security.
Although the Bitcoin Spark network will have miners, its proof-of-work consensus is way more advanced than that of Bitcoin or Dogecoin. While Bitcoin mining has massive entry barriers, Bitcoin Spark will allow all community members to participate in mining BTCS, the platform’s native crypto asset. Mining in Bitcoin Spark will involve solving far fewer computational algorithms and require less energy than mining Bitcoin. Mining in Bitcoin Spark will use little energy that any smart device like a laptop or a mobile phone will handle without interfering with the device’s normal operations.
The team at Bitcoin Spark is developing an application for Mac OS, iOS, Android, and Windows to minimize centralization in mining. Increasing the number of mining devices and individual miners promotes the network’s security, unlike Bitcoin, whose majority of mining is controlled by two mining firms. If these mining firms decide to team up and alter the blockchain, they could jeopardize the network’s security by carrying out a 51% attack.
Bitcoin Spark also has an upcoming wallet feature for its network, as well as other networks such as BNB Smart Chain, Solana, and Ethereum. However, upon launch, the Bitcoin Spark network will not accommodate Ethereum Virtual Machine powered wallets such as Metamask. EVM wallet users will, therefore, need to hold Wrapped BTCS tokens while using these wallets.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.