With the crypto landscape significantly expanding, industry watchers suggest Bitcoin Spark (BTCS), BNB, and XRP are pioneering advanced solutions
XRP is a digital currency that was created by Ripple Labs to facilitate fast and efficient cross-border transactions. Unlike many other cryptocurrencies, XRP is not mined; instead, it was pre-mined by the Ripple team, with a fixed supply of 100 billion. XRP serves as a bridge currency on the RippleNet network, which is designed to enable banks and financial institutions to settle international payments. The XRP Ledger , is the blockchain that processes and verifies transactions on the network.
The Bitcoin Spark blockchain boasts fast transaction processing and low gas fees thanks to a short block time, high individual block transaction capacity, and extensive nodes. The blockchain also supports the creation of diverse smart contracts and decentralized applications . This is possible through a multi-layered infrastructure with a dedicated smart contract layer that has separate execution systems, all reaching finality on the main network.
Bitcoin Spark uses its proprietary consensus mechanism called the Proof-of-Process , which combines decentralization, revenue-generation, and real-world application. The PoP requires users to provide processing power to the network in order to confirm blocks and earn rewards. However, the mechanism exponentially decreases the rewards per additional power to ensure a fairer distribution. This approach, combined with the massive nodes, will allow even low-powered devices to run the network.
To go further, the Bitcoin Spark application and blockchain explorer will have small spaces for advertisements, which will be community-policied to ensure credibility and uphold the decentralization ethos. Advertisers will also pay in BTCS, and 50% of the revenue will go to network participants. Those involved in policing the ads will also receive extra incentives for their efforts.
Notably, Bitcoin Spark is currently in the seventh phase of its Initial Coin Offering , with BTCS priced at $3.00 and investors getting a 7% bonus, among other advantages.
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