Crypto mining is among the most lucrative investment avenues in the cryptocurrency world. The process involves complicated processes and mathematical computations of verifying and validating transactions while adding new blocks to a blockchain network. The process is rampant and most profitable in the Bitcoin network, which has a proof-of-work consensus mechanism. However, this new Bitcoin alternative crypto project threatens to change this monopoly.
Is crypto mining profitable?
Cryptocurrency mining is a lucrative deal. However, the process is closely associated with underlying virtual mining limitations. Bitcoin is the largest proof-of-work consensus mechanism characterized by the mining process. Although the project heavily rewards network validators, it faces many challenges. For instance, the process consumes a lot of energy to solve complex computational tasks, hence consuming high amounts of electricity.
Secondly, mining is also energy intensive, requiring sophisticated equipment that is highly expensive and out of reach for retail investors. The process has also sparked concerns about its environmental impact and carbon footprint. A network like Ethereum transitioned from a proof-of-work to a proof-of-stake to reduce its carbon footprint and make it more scalable. Bitcoin Spark is changing the mining game to offer more lucrative deals for miners on the Bitcoin network.
Bitcoin Spark changes the mining game
Bitcoin Spark aims to make the mining process more decentralized. The mining process in Bitcoin is highly centralized. More than 50% of the total mining activities are controlled by two mining firms, Antpool and Foundry USA. If the two firms decide to collaborate and alter new blocks being added to the network, they would potentially put the entire network at risk, a process known as a 51% attack.
Bitcoin Spark involves miners solving less complicated mathematical equations and algorithms, meaning the entire process will not be as highly energy-starving as Bitcoin. This move opens Bitcoin Spark’s mining to retail investors wanting to participate in the network’s development.
To accommodate this, the developers create applications compatible with various operating systems, including iOS, Mac OS, Android, Linux, and Windows. These applications will incorporate the proof-of-process consensus using the platform’s Random Access Memory (RAM) alongside the device’s Central Processing Unit or Graphics Processing Unit (GPU). The mining process will occur in the background of the device without interfering with the device’s normal operations as prompted by the user. Network rewards will be distributed to participants through the platform’s native token, BTCS.
Allowing users to mine BTCS tokens using their handheld devices will drastically increase the number of miners, thus reducing the chances of a 51% attack that exists on the Bitcoin network. Bitcoin Spark has a maximum of 21 million, of which 16.45 million tokens have been segregated for mining rewards. This means Bitcoin Spark will take longer to attain its maximum supply than Bitcoin.
Mining Bitcoin Spark also yields the network with processing the platform intends to lend to companies and individuals. The processing power is critical and highly demanded for curators working on complex virtual programs such as film rendering. Bitcoin Spark is on presale. Investors looking to take advantage of an opportunity with massive returns can purchase BTCS tokens at $2.25 and get a 10% bonus on all orders.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
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