The memecoin industry has sparked the decentralized community in a whisker. These digital currencies came into blockchain technology with disdain and humorous intent. As time passed, meme coins became the catalysts for developing the blockchain ecosystem and web3 community. Shiba Inu is among the meme coins that created traction within the crypto ecosphere.
Shiba also gained popularity from several psychs on individuals in social media spaces such as X. Nonetheless, actual utility is required within the blockchain for future adoption and development. Therefore, the Web3 community presents Bitcoin Spark, a cutting-edge digital currency platform seeking to promote the exponential growth of ledger technology.
What is Shiba Inu
Shiba Inu is a meme coin developed in 2020. The digital currency is pegged on the Ethereum mainnet. The cryptocurrency has had a massive run in 2020 and 2021. IT, however, plunged after the commencement of the cryptocurrency winter that saw some blockchain platforms, such as Celsius and Voyager, file for bankruptcy. The ERC-20 token comes from a Japanese dog breed called Shiba Inu. The native currency of the platform is SHIB. SHIB is used to reward community members who participate in the platform’s progress.
Is Shiba Inu a good Investment?
Questions regarding the pertinence of Shiba Inu being a good investment in the crypto market remain on the list of every single digital enthusiast. Shiba gained traction during its initial stages or launch period.
The project made several individuals embedded within the blockchain ecosystem become millionaires. However, the cryptocurrency plummeted in the spring of 2022. There are hopes of a potential surge after decentralized ecosystem analysts conducted previous market studies.
Bitcoin Spark Generates Utility in Blockchain Technology
There is a need for a blockchain project that entirely invests in developing smart contracts and efficient utility. Bitcoin Spark promises utility in the ledger technology with its new proof-of-process consensus mechanism. The validation process uses two consensus mechanisms: proof-of-work and proof-of-stake.
It also has a specialized algorithm that partakes in the distribution of rewards equally in the ecosystem. Validators utilize PoP in confirming new blocks and providing processing power to the network. In return, they are rewarded with the BTCS tokens.
Processing power is used in conducting tasks such as video rendering and performing large intrinsic equations. The power used for confirming blocks in the platform is relatively low. Validators can use the rewards calculator within the network to confirm the profitability of Bitcoin spar before partaking in confirming blocks.
The platform has a smart contract with multiple layers that support utilizing compatible high-level and low-level languages. The smart contract in the network, unlike Ethereum, allows programming developers to create their decentralized applications with other languages such as Solidity and Vyper. Other high-level languages can be used in developing layer two scaling solutions.
The platform provides space for distinct developers and smart contract styles to bring a blend of variation. The platform also has a unique roadmap that settles and provides details of the platform’s development. The progress is counted for different phases, from the first initial coin offering towards the launch and post-launch period.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
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