The cryptocurrency market has remained resilient despite tough economic times and increased coercion from financial regulators. Technology’s continuous growth and evolution have infiltrated the DeFi space, prompting the development of new blockchain-based projects. Moving forward to 2024, which experts believe is a revolutionary year for the crypto market, the industry is expected to undergo more transformative upgrades, especially with the desired bull market. Bitcoin Spark and Loom Network are the heart of this transformative shift, promising massive capital gains to early birds while being labeled the following crypto trends.
What is Loom Network?
Loom Network is a high-performance interoperability network popularly known for its multichain activities. The network’s interoperability trait allows different networks to interact with other networks while simultaneously scaling decentralized applications efficiently. Loom’s inter-network links are tied to other major networks such as Ethereum, Tron, Binance Chain, and Bitcoin. The interconnection brings a significant advantage to developers by allowing them to create one dApp that works on all chains.
What is Bitcoin Spark?
Bitcoin Spark is an incoming decentralized revenue-generating ecosystem that forks the Bitcoin network to introduce advancements and improved versions of its parent network. The network retains the valuable characteristics of Bitcoin, including its token supply cap of 21 million and a modified proof of work consensus functioning under the Bitcoin Spark mainnet consensus called proof of process.
Bitcoin Spark’s unique identifiers distinguishing the network from Bitcoin include a significantly reduced block time, increased block data capacity, transaction speeds, and an advanced smart contract layer. Leading smart contract auditing platforms verify and approve Bitcoin Spark’s smart contract. The project’s founders have also had their identity scrutinized through KYC requirements.
Although Bitcoin has served as the epicenter of the decentralized ecosystem, the network has sped out developers who think its mining activities are highly centralized and only accessible to ultra-wealthy individuals. Others believe the mining ecosystem functions from a capitalistic perspective, giving institutions an upper hand. The disagreements have caused a series of Bitcoin hard forks, such as Bitcoin Spark. Bitcoin Spark, on the other hand, is the direct opposition, offering Web3 developers a direct route to complete decentralization.
The Bitcoin Spark network is much more advanced than Bitcoin’s, causing a growing demand for the former’s BTCS tokens. Bitcoin Spark boasts the completion of 7 successful initial coin offering phases that have ushered in the ongoing phase 8 with an ICO price of $3.25 and a mandatory phase 8 bonus of 6% for all participants. A total of 4 million BTCS tokens are to be released from the start to the end of the ICO. Participants who purchase the tokens from the ICO will also receive a two-year, 2-fold mining rate that accrues returns better than the average miner.
Bitcoin Spark Price Prediction
Bitcoin Spark has raised the eyebrows of many Bitcoin enthusiasts following its potential price performance that coincides with imminent Bitcoin ETFs and the scheduled 2024 Bitcoin halving event that has historically signaled previous bull markets. Crypto traders predict Bitcoin Spark’s initial surge will settle at 500% after the official launch, especially when the Bitcoin ETFs begin to get approved.
For more information:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
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