Ethereum vs Bitcoin Spark: A Comparative Analysis of Future Cryptocurrencies
The post Ethereum vs Bitcoin Spark: A Comparative Analysis of Future Cryptocurrencies appeared first on Coinpedia Fintech News
The cryptocurrency realm has seen significant improvements and increased adoption in the last decade due to advanced technology and reduced entry barriers. The industry’s growth has constituted the rise of many projects that have sparked a wave of Web3 applications worldwide. Bitcoin Spark is the newest contender on the bandwagon, offering solutions to BTC and ETH networks. While Ethereum pioneered the revolution of smart contracts, Bitcoin Spark has a new consensus mechanism that makes the network the best alternative compared to Bitcoin and Ethereum.
What is Ethereum?
Ethereum is a Web3 platform offering smart contracts essential in Decentralized Applications (dApp) deployment. The platform has played a significant role in shaping the industry and supporting newer projects like Bitcoin Spark get up to speed during their initial development stages. For this reason, Ethereum is widely regard as the Silver to Bitcoin gold. Founded by a computer scientist called Vitalik Buterin in 2015, Ethereum has built its reputation as the leading innovative digital platform, supporting other Web3 pillars such as non-fungible tokens (NFTs), blockchain play-to-earn games, and decentralized economies.
Bitcoin Spark is Bigger than Ethereum
The project is a new blockchain-based project with massive potential to disrupt the status quo of Ethereum and Bitcoin. The platform offers antagonizing solutions to Ethereum and Bitcoin network challenges and hindrances, hence possessing the massive potential to explode in the imminent bull market projected to begin before the next Bitcoin Halving event. Bitcoin Spark runs an ICO event to distribute 4 million BTCS tokens as ERC-20 tokens. The ICO event is in phase 5, and each BTCS token sells for $2.50. All orders and purchases are eligible for a 9% bonus credited to the individual’s account after completing the order.
Why is BTCS an ERC-20 token?
BTCS has not launched its network yet, which debuts shortly after the ICO event is completed and the 4 million tokens have been distributed. As the community members await the first Bitcoin Spark block, those willing to trade BTCS will do so through its wrapped version on the Ethereum network, which will later bridged to the Bitcoin Spark network upon mainnet release. This is what other projects like BNB, Cardano, and Fantom did during their debut.
However, the maximum bridgeable amount on Ethereum is a maximum of 4.3 million tokens, of which 4 million tokens have been allocates to the ongoing ICO. The Bitcoin Spark’s bridging feature will only apply to BTCS tokens to and from the Bitcoin Spark network initially when the launch happens. However, more crypto assets will integrated later as the platform becomes more interoperable with other networks and liquidity pools.
Bitcoin Spark would not be comparable with Ethereum without smart contract layers. The network will integrate smart contracts, allowing developers to deploy decentralized applications (dApps), making the network more scalable. Bitcoin Spark’s smart contracting system is similar to that of Ethereum. Programmers can use both high and low-level languages to deploy dApps. Moreover, the platform can accommodate any other EVM-bytecode languages.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
