The fast-paced crypto world is witnessing widespread adoption as traditional institutions like PayPal embrace digital currency. The launch of PayPal USD (PYUSD) stablecoin signifies a growing interest by established giants in digital finance. Meanwhile, there is growing enthusiasm among investors for Bitcoin Spark, a Bitcoin fork with tremendous potential.
PayPal’s Stablecoin Effect
PayPal’s introduction of stablecoin PayPal USD (PYUSD) received a positive response from the cryptocurrency community. The participation of an internet and payments company in the stablecoin sector carries significant implications for the crypto industry and the valuation of the PayPal stock price. PayPal’s bold entrance into the stablecoin arena may catalyze other players within the financial and payments sector to explore opportunities within the cryptocurrency market. The proactive step taken by PayPal signals a potentially favorable development for the adoption of cryptocurrencies, particularly within the payments sector. The PayPal stock price (PYPL) rallied +2.6% after the announcement.
What is a Bitcoin fork?
A Bitcoin fork is a modification to the Bitcoin blockchain yielding two separate chains with distinct rules and features. It is a divergence occurring when the community and developers decide to implement changes digressing from the existing rules of the particular blockchain. As a result, the blockchain splits into two separate chains, each deploying its rules and protocols. Bitcoin forks result from technical upgrades, protocol improvements, changes in consensus mechanisms, or disagreements within the community about the project’s roadmap. Bitcoin Cash (BCH) and Bitcoin Spark (BTCS) comprise prominent Bitcoin forks with changes to the original Bitcoin protocol, resulting in the creation of separate blockchains with unique features and characteristics.
Bitcoin forking can be soft or hard. A soft fork makes backward-compatible changes, where new features are added or rules reinforced without breaking the existing consensus. A hard fork is more significant as the nodes running the old software can no longer validate transactions or blocks on the new chain. As a result, hard forks result in the creation of a new cryptocurrency, distinct from the original one.
Bitcoin Spark (BTCS)
Bitcoin Spark is a top-notch project deploying an innovative Proof-Of-Process (PoP) blockchain technology. Unlike the traditional Proof-of-Work (PoW) mechanism used by Bitcoin, PoP focuses on providing a more accessible way to participate in the network.
BTCS rolls out mechanisms to address Bitcoin’s challenges of high transaction costs, limited transaction speed, the dominance of a few individuals in mining, and the absence of smart contract capabilities. Through its unique features, BTCS strikes a solution that enhances transaction efficiency, accessibility, and overall network security.
The project introduces a Bitcoin Spark application that allows users to contribute their processing power for mining and receive rewards in return. The network lets mining devices’ processing power, like servers or video coding, to users in need. The fees generated go entirely to mining pools. A stablecoin triggers automated buybacks, increasing mining rewards over time. The developers will make mining user-friendly across different devices like Windows, Mac, Linux, iOS, and Android. The software adapts processing power used for factors like heat and battery. This setup minimizes the power some miners hold, promoting network security. The public Bitcoin Spark repository post-launch enables developers to create their mining and wallet apps for true decentralization. The BTCS network operates through a multi-layer architecture comprising layers for execution, consensus, mining, and rewards. This architecture eases accessibility, improves transaction speeds, increases network security, and enables the integration of smart contracts.
The project launched its exciting ICO at $1.50, and the early adopters are incentivized with a 20% bonus. Imagine buying Bitcoin when it was only 1$. BTCS’ attractive ICO, coupled with its projected returns of 800%, has garnered attention from investors looking for promising alternatives to established cryptocurrencies. BTCS extends the time required to reach the maximum supply, capped at 21M tokens, thereby promoting a gradual and sustainable distribution.
Learn more about Bitcoin Spark and ICO here:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
