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Blockchain technology is transparent, and all on-chain transactions are visible through blockchain explorers. Blockchain explorers show addresses involved in a trade, the type of transaction, the digital asset involved, and the amount charged as a transaction fee. Recently, on-chain activity indicated high volumes of conversion transactions involving Cardano, Quant, and Bitcoin Spark.
What is Cardano?
Cardano is a decentralized blockchain-powered project that uses the proof of stake consensus mechanism to man its network. The platform was pioneered by Charles Hoskinson, a known cryptographic figure and co-founder of Ethereum. Charles’ primary objective in creating Cardano was to provide a suitable smart contract platform alternative to the Ethereum mainnet and, simultaneously, engineer a proof-of-work consensus alternative mechanism (proof-of-stake). ADA is the native utility and gas token of the Cardano infrastructure. It is named after Augusta Ada King Countess of Lovelace (1815–1852), popularly known among computer geeks as the first computer programmer.
What is Quant?
Quant is an altcoin that has accrued investments from investors worldwide. The platform is a utility token that seeks to provide value to the Web3 ecosystem by enhancing faster and cheaper transactions as well as facilitating efficiency in cross-network transactions. The network has faced difficult times in the recent bear market, causing its QNT price to drop sharply towards its all-time lows, losing more than 40% of its intrinsic value. As Quant struggles to make a comeback, investors are eyeing Bitcoin Spark as the next Bitcoin alternative.
Why is Bitcoin Spark special?
Bitcoin Spark is a new DeFi project that gives investors who missed Buying Bitcoin in 2013 a chance to redeem themselves. Like Bitcoin in its early stages of development, Bitcoin Spark is luring sophisticated investors, including whales and institutions, making it a once-in-a-lifetime opportunity like Bitcoin was. The platform has borrowed some characteristics from the Bitcoin network, including its tokenomics.
Like Bitcoin, Bitcoin Spark’s maximum supply is 21 million BTCS tokens. The only difference is token allocation. Unlike Bitcoin, Bitcoin Spark’s majority of the tokens have been allocated to mining pools for the network’s validators to earn in their validation processes. This makes it longer for the maximum token supply to be attained, which the team anticipates will not be achieved until 120 years elapse.
Among the key ingredients that make Bitcoin Spark unique is its scalability features that involve the integration of smart contract layers as well as a proprietary bridging system. The smart contract layer will allow a variety of developers to deploy decentralized applications using high and low-level languages like Solidity and Vyper or any other language compatible with the EVM bytecode.
Additionally, the network intends to introduce revenue-generation methods involving advertising campaigns and lending out processing power to clients. The advertisement campaign will be controlled in a decentralized manner through voting processes. Anyone with BTCS tokens can vote against an advertisement that seemingly violates the platform’s terms of service. On the other hand, the mining activities of Bitcoin Spark’s network participants will yield processing power that clients will pay in BTCS to use for online computational tasks.
BTCS tokens are available for purchase in the ongoing ICO event for only $2.75. The orders made before the ICO phase six ends will be automatically accompanied by an 8% bonus from the Bitcoin Spark team for early participation.
Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
Alex Dovbnya
Valeria Blokhina
