How Bitcoin Spark is Outshining Dogecoin

While Dogecoin (DOGE) does have its share of popularity, industry watchers suggest a new crypto known as Bitcoin Spark (BTCS) is outshining it.

Dogecoin price

The Dogecoin (DOGE) price is up almost 19.5% from its monthly lows. The meme coin is up 4.75% on the weekly timeframe, and the technical analysis reveals it is outperforming major digital assets. The DOGE price is rising amid Twitter’s rebranding to the X app. Holders speculate that Elon Musk will integrate it into the platform since the X CEO has been a vocal supporter of DOGE in the past. This has led to increased demand, which has, in turn, pushed Dogecoin’s price up. The speculations have especially heightened after X obtained the currency transmitter license in Rhode Island on August 28, which enables it to transact and exchange digital assets. It should be, however, noted that these still remain speculations as no official communication has been made. Thus, potential investors should do proper research before making any commitments.

Why is Bitcoin Spark outshining Dogecoin?

With the crypto market gaining more adoption worldwide, there has been a steer towards cryptocurrencies with more practical applications among investors. There’s also a need for enhanced speed, security, and scalability by users. Dogecoin (DOGE), being a first-generation crypto and a meme coin, lacks many of these qualities. Bitcoin Spark seeks to usher in a new generation of cryptocurrency by combining all these desirable aspects together.

Bitcoin Spark has a maximum supply of 21 million BTCS. The network boasts fast transaction processing and low fees due to its enhanced individual block transaction capabilities, low block time, and massive number of nodes. Bitcoin Spark also fosters the creation of diverse smart contracts and decentralized applications (Dapps) on its network. It will have a seamlessly integrated smart contract layer that includes separate execution systems with singular finality on the main network, allowing developers to use both high-level and low-level programming languages. 

Additionally, Bitcoin Spark uses a novel consensus mechanism that, combined with the network’s large number of nodes, clears the concerns associated with Dogecoin’s Proof-of-Work (PoW). This consensus mechanism is known as the Proof-of-Process (PoP), and it non-linearly rewards miners for confirming blocks and renting out the processing power of their mining devices to the network. This means that a 2x higher hash rate will not result in 2x the rewards. Having a more significant number of nodes also reduces the investments miners require, opening it up to many more individual miners and reducing the risks of centralization. The Bitcoin Spark application will enable users with Windows, Linux, Mac OS, iOS, and Android devices to mine BTCS by permitting secure and isolated access to their device’s processing unit.

Notably, Bitcoin Spark will rent out the processing power to vetted individuals and organizations who require remote computational power. Those using the network for decentralized CPU/GPU power will be required to pay using BTCS, providing a useful real-world application to the cryptocurrency. The revenue generated will then be distributed among miners, providing an additional income source.

The Bitcoin Spark application and website will have small slots for advertisements. The ads will be community-policied to promote decentralization and credibility, with advertisers using BTCS as payment. This uses the rising marketing industry to generate revenue for the network and its participants while providing additional real-world applications to Bitcoin Spark.

Aside from its technological prowess, Bitcoin Spark has a low market cap, which allows its price to rally by astronomical levels. Dogecoin, while having the potential for significant price increases, is limited by its large market capitalization and high token supply. The BTCS price has had a 311% increase since the project’s Initial Coin Offering (ICO) started. The ICO is in Phase 4, selling BTCS at $2.25 and offering a 10% bonus. Investors expect a consistent price increase until BTCS launches at $10.

For more information on Bitcoin Spark:

Website: https://bitcoinspark.org/

Buy BTCS: https://network.bitcoinspark.org/register