Bitcoin Forks have retained their share of popularity in the crypto space. On that note, the presale of a new Bitcoin Fork known as Bitcoin Spark has captured the attention of investors for its potential to provide 800% gains.
What is a crypto presale?
A crypto presale, also known as an initial coin offering (ICO), is an early fundraising phase conducted by a cryptocurrency project before its official launch. During a presale, the project team offers investors a limited number of the project’s new tokens at a discounted price. ICOs are typically open to anyone and enable cryptocurrency projects to secure initial capital, gauge interest, and build a community of early adopters who believe in its potential.
The Bitcoin Spark (BTCS) presale
Bitcoin Spark has gained traction in the crypto market because of its potential for growth and adoption. This new crypto project builds on the vision of Satoshi Nakamoto while ensuring increased security, speed, and scalability.
The Bitcoin Spark network achieves a significantly higher TPS (transaction per second) by increasing the number of individual transaction capabilities per block and decreasing block time. Combining these improvements with a drastic increase in the number of nodes reduces gas fees for using the chain. The Bitcoin Spark network will also include a layered smart contract execution system for smart contract deployment in Rust and EVM-compatible languages like Solidity and Vyper. This will attract a wider range of developers, creating a diverse ecosystem and increasing the use cases of BTCS.
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Mining BTCS will be easy, energy-efficient, and open to anyone. This is because the network uses a novel consensus mechanism known as Proof-of-Process (PoP), which rewards miners for validating blocks and ‘renting out’ the processing power of their mining devices. The Bitcoin Spark development team will offer a simple-to-use mining program for Windows, Mac OS, Linux, iOS, and Android, enabling users to install the software on any device and mine by permitting secure, isolated access to their device’s processing unit. This ensures the work and power consumption for block validation is reduced.
The software limits its resource usage on the device, naturally limiting mining capability. Additionally, Bitcoin Spark also uses an algorithm restricting linear rewards tied to processing power, ensuring equitable distribution fairly among larger and smaller network participants.
Bitcoin Spark aims to create a greater desire for network participation. Thus, its network participants will be incentivized in other ways besides renting out their processing power. For example, they will get 50% of the revenue generated from the Bitcoin Spark website and application advertisements. They will also get incentives for policing the ads.
Bitcoin Spark has allocated 19.05% of the total supply of 21 million to its Initial coin offering (ICO). The first phase of the ICO started on August 1, selling BTCS at $1.50 and offering a 20% bonus. The ICO has already received recognition from experienced analysts like Goalorious, who suggests Bitcoin Spark is rewriting Bitcoin’s history. The price of BTCS will gradually increase through the ICO phases until a launch price of $10.00. With Phase 1 ending on August 11, investors still have a chance to get an 800% increase in their investments.
Are presales worth it?
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Crypto presales enable investors to obtain new cryptocurrencies at a lower price, leading to significant gains if the project performs well after launch. Presales have a proven track record of providing massive returns to their investors since projects like Ethereum (ETH) started in this way. However, it’s important to note that investing in presales also comes with significant risks. Therefore, investors should conduct extensive research and seek professional assistance before making any commitments.
