In the cryptocurrency ecology, projects that have massive utility and real-world applications gain the most traction. Projects with unique features and functionalities often outperform existing projects like memecoins with no or outdated utility. For instance, Stellar is a digital project that rose to fame by attempting to provide a means of storing and moving money. However, Stellar has no chance against this new project.
What is XLM, and is it a Good Investment
XLM (also known as Stellar Lumen) is the native and utility cryptocurrency of the Stellar network. The crypto asset is used to pay for transaction fees on the network. The Stellar network capitalizes on a unique consensus mechanism called proof-of-agreement to coordinate information between the operating nodes. These nodes communicate real-time transaction data every five seconds and ensure they receive the same information.
Stellar is a trustworthy cryptocurrency project. Its utility and functionalities are true to decentralization. However, the project’s hype is no longer evident, and this might be a cryptocurrency to hold as an edge against inflation. However, projects like Bitcoin Spark can help early participants create wealth by participating in the project and its associated technologies.
Bitcoin Spark Outshines Stellar
Bitcoin Spark is an emerging cryptocurrency project that solves shortcomings and challenges associated with DeFi projects such as Bitcoin and Ethereum. Bitcoin Spark aims to achieve full decentralization by engaging its community members in deciding its future.
Bitcoin Spark’s native token is BTCS which will also be the gas token of the ecosystem when the project launches. All transaction fees will be allocated to the network validators and will vary depending on the instantaneous demands and complexity of the contracts. The smallest unit of BTCS is called a Spark and will be equivalent to 0.000000000001 BTCS.
Bitcoin Spark intends to use a new consensus mechanism called the proof-of-process to man the network and approve transactions. This new consensus stirs up Bitcoin’s Mining concept and Ethereum’s staking model. This means the network will have miners and validators working around the clock to validate new blocks and approve transactions.
Rewards between miners and staking participants will be managed and controlled by a special algorithm to standardize earnings and promote decentralization in the validation process.
Bitcoin Spark has passed two smart contract audits conducted by Cognitos and Vital Block. The details of the two comprehensive audits and reports can be found on the white paper or online. Moreover, Cognitos also audited the team’s KYC verification, and this information is also publicly available on the platform’s whitepaper.
Bitcoin Spark is on presale (ICO phase two), and investors are grabbing BTCS tokens at a discounted rate of $1.75 for every token. The team also issues an additional 15% for users who purchase any token amount during this phase. After completing all ICO stages, the project is expected to go live on mainnet on November 30th and users who buy the token in the current phase will have made 657% gains on the day of launch.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
