Shiba Inu is a popular memecoin that sparked a wave of frenzy in the crypto market by surging exponentially to all-time highs in less than 12 months. The project has, however, flopped after losing almost 90% of its value in the last bear market. With this in mind, Shiba Inu investors hope for an impulsive return as they look into other investments like this new Bitcoin alternative called Bitcoin Spark.
What is Shiba Inu?
Shiba Inu is among the most popular altcoins in the DeFi ecosphere. The project debuted live in August 2020 as an experiment to show what could happen if a community was in charge of a DeFi project. A popular Doge meme inspired the project to use the famous Japanese dog breed Shiba Inu as its mascot. The developers also marketed the memecoin as a “Doge” killer.
Will Shiba Inu reach 1 cent?
Anything is possible in the blockchain-powered arena. However, it would be difficult for the average price of 1 Shiba Inu token to reach 1 cent. Shiba Inu has an abundant supply of tokens, which are nearly 590 trillion tokens at the time of this publication. For Shiba Inu to attain the 1 cent mark, the platform should have a market capitalization of $5.89 trillion, an insane figure five times the total market capitalization of all crypto projects combined.
Bitcoin Spark ICO hits $1 million
Bitcoin Spark is a new project in the DeFi world that is currently being developed as a Bitcoin alternative. The project has exclusive perks alongside an advanced consensus mechanism. All these features have attracted the hawkish eyes of whales, who have invested significant capital into the ongoing ICO event. The ICO is currently in phase 4, and each BTCS, the platform’s native crypto asset, is going for a retail price of $2.25 per token. The project has raised more than $1 million from venture capitalists, enterprising investors and crypto lovers.
BTCS tokens have a maximum supply of 21 million tokens, similar to the capped supply of Bitcoin. This is not a coincidence because Bitcoin Spark is a Bitcoin alternative. Among more than 100 Bitcoin alternative projects, Bitcoin Spark is the only one that uses both proof-of-work and proof-of-stake to validate transactions and verify new blocks before they enter the ecosystem.
How is this possible? Bitcoin Spark uses a new consensus mechanism called proof-of-process, an alloy between mining and staking. To oversee miners’ and validators’ operations, Bitcoin Spark devs will create a specialized algorithm to standardize rewards for the two parties involved in manning the network.
Bitcoin Spark promotes transparency and accountability to its community members and potential investors. For this reason, the platform has undergone smart contract audits from reputable audit platforms, including Contract Wolf, Vital Block, and Cognitos. The firms have also verified the team members’ identity through KYC audits, and all comprehensive reports on the platform’s smart contract and KYC are publicly available for viewing.
In its roadmap, the project has a final outlay of being the best Bitcoin alternative in the crypto market as well as an accepted institutional realm of publicly offered Exchange Traded Funds (ETFs).
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