New contenders are continually challenging the established giants in the crypto space. One such contender is Bitcoin Spark (BTCS), which has been positioned as a compelling alternative to Cardano (ADA).
Is Cardano dead?
Despite Cardano (ADA) trading below its all-time high, it is far from dead. The third-generation blockchain remains among the leading Ethereum-killers and has proven its ability to withstand multiple bear markets. Additionally, Cardano’s dedicated team of developers, led by Charles Hoskinson, one of Ethereum’s co-founders, is actively working on actualizing its roadmap. Furthermore, ADA ranks among the top 10 cryptocurrencies by market cap, displaying its established presence.
Is Cardano a good investment?
Several factors suggest Cardano could be a rewarding investment. Firstly, Cardano’s innovative approach to blockchain technology, using scientific and academic peer-reviewed research in its development, bodes well for its long-term sustainability and growth. Secondly, Cardano’s launch of smart contracts combined with its multi-layer architecture, which separates its settlement and computation layers, has opened up opportunities for developers to build decentralized applications (DApps) on its network while maintaining scalability. Cardano’s value as a blockchain ecosystem could grow substantially as these projects gain traction. Additionally, Cardano’s partnerships with various governments and organizations to tackle real-world issues using blockchain technology provide it with a unique advantage and potential for widespread adoption.
However, it is important to note that ADA is involved in the SEC cases against Coinbase and Binance, where it was listed as a security. The outcome of these litigations is bound to have a significant impact on Cardano.
Why Bitcoin Spark could be a good alternative to Cardano
Bitcoin Spark is a new blockchain that has similarities with Cardano but with significant developments that set it apart and position it as the pioneer of the next generation of cryptocurrency.
The network assures fast transaction processing at low fees with its enhanced individual block transaction capacity, low block time, and massive number of nodes.
Bitcoin Spark also has a multi-layer design. It has a separate smart contract layer with multiple execution systems that all reach finality on the main network. This ensures scalability while encouraging diversity in smart contracts and decentralized applications (Dapps) by allowing the use of different high-level and low-level programming languages. This is in contrast to Cardano, which primarily relies on Haskell, a high-level programming language.
Additionally, Bitcoin Spark uses a proprietary consensus mechanism, which combines elements of Proof-of-Stake and Proof-of-Work, known as the Proof-of-Process (PoP). The PoP non-linearly rewards users for validating blocks and contributing processing power to the network. Having a large number of nodes, combined with the non-linear rewards functionality, allows for more individual validators within Bitcoin Spark, greatly increasing its security. The Bitcoin Spark development team will provide a safe and easy-to-use application for network validation. The app will be compatible with Windows, iOS, Android, Mac OS, and Linux, enabling the user to participate in network validation by permitting secure and isolated access to their device’s processing unit. The PoP not only secures the Bitcoin Spark blockchain but gives rise to a new concept: decentralized CPU and GPU renting.
The validators’ power is supplied to the network’s clients as remote computing power, who then pay for the service using BTCS. The revenue generated will go to the validators, providing an additional source of income not in PoW or PoS systems.
Furthermore, the Bitcoin Spark application and website will have small spaces for community-policed ads, which will also be paid for using BTCS. 50% of the revenue generated will be used to reward network participants.
With the booming of the marketing industry and the ability for unlimited processing power supply, Bitcoin Spark could evolve into a self-sustaining revenue-generating network that enables its participants to remain profitable despite market conditions.
Aside from its technological advances, Bitcoin Spark also has a maximum supply of 21 million. This compares favorably to Cardano’s 45 million. The project’s team has allocated 19.05% of the total supply to its Initial Coin Offering (ICO) to enable its believers to get BTCS early and with some additional advantages. BTCS will launch at $10 but is currently selling at $2.25, accompanied by a 10% bonus in Phase 4 of the ICO. The team has conducted multiple KYC audits to ensure the security of investor assets.
For more information on Bitcoin Spark:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register