Blockchain technology is renowned for its transparency and decentralization nature. The niche has gradually revolutionized the digital payment system through its close association with cryptocurrencies. The crypto ecosystem has also not been left behind with its drastic improvements and innovations that attract whales. For instance, XRP, a digital currency, emerged among the most utilized crypto by governments to evade delays with the central banker transfer mechanisms.
However, SEC’s battle with Ripple implemented a significant loss to the ecosystem. Bitcoin Spark, a cutting-edge distributed ledger technology in the initial development phases, has made immense contributions to developing the cryptocurrency niche. This article will discuss the mechanisms supporting Bitcoin Spark.
What is XRP?
XRP is a cryptocurrency developed by Ripple Labs. It is also considered as the native token for Ripple. The total supply of the tokens is 100 billion. The network is preferred due to its transaction speed and improved interoperability alongside institutional cross-border payments. Institutions such as banks praise XRP for its efficiency in conducting transactions.
Will XRP Win Its Lawsuit?
The battle between the SEC and Ripple has been pivotal in proving transparency within upcoming and trusted cryptocurrency projects. The SEC had filed a motion depicting XRP as a security. However, the final court ruling showcased that XRP was not a security and was pertinent to the investment ecosphere. Immediately after the win, the price of the digital currency surged exponentially.
Bitcoin Spark is Revolutionizing the Digital Payment System
Bitcoin Spark, a groundbreaking crypto project, aims to participate in the mass adoption of the virtual currency ecosystem. The platform has a unique method for revenue generation compared to other decentralized platforms. The revenue generation method utilizes two techniques: advertising and rendering processing power.
Other systems for income generation will be introduced as the platform continues to develop. A small section of the platform’s website and application will be utilized for promotional purposes. The advertisements will be conducted elastically. When there is an increased demand, advertising price surges as promotion time will be deducted to accommodate other brands.
Most importantly, governance regarding advertisement will be handed to community members through a voting mechanism. The voting will eliminate any advert that doesn’t consider or follow the community standards.
Moreover, processing power harnessed from miners/validators’ computer nodes will be rendered for tasks including video rendering and running resource-hungry simulations. This will enable any platform member to participate in Bitcoin Spark’s development. The team will take 3% of the profit for maintenance and upkeep.
Bitcoin Spark has a native currency called BTCS. BTCS acts as a governance token for the system and rewards community members. The token’s total supply is 21 million, whereby 16.45 million has already been distributed to the mining pool, and 4.55 has been allocated to launch supply. The platform is currently in phase 5 of its presale level, as each BTCS is purchased for $2.50.
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