The memecoin industry came with a storm into the crypto ecosystem. These digital currencies emanated through social media hype and awareness from prominent enthusiasts like Elon Musk. Shiba Inu, named after the Japanese dog breed, has captured a broad audience. During its initial stages, the cryptocurrency has amassed millions of dollars from venture capitalists, surging the virtual currency market capitalization.
The new entrant, Bitcoin Spark, has managed to take over the cryptocurrency by its double consensus mechanism. The validation mechanism allows miners and validators to partake in staking and mining activities.
What Is Shiba Inu?
Shiba Inu is a cryptocurrency developed in August 2020 by a pseudonymous individual named Ryoshi. The virtual currency was named after the Japanese dog Breed “Shiba Inu,” also considered the mascot for Dogecoin. Shiba Inu has its native currency called SHIB, which acts as a governing token for their ecosystem. It is also used to award active members participating in the platform’s progress. The decentralized currency was named a memecoin due to the social media hype from internet spaces such as X, formerly Twitter.
Does Shiba Inu Have a Blockchain?
Shiba Inu is a decentralized currency pegged on top of the Ethereum mainnet. The digital token utilizes the proof-of-stake consensus algorithm. Proof of stake entails holding a digital token such as SHIB, which then promotes the platform’s development.
Having a market supply and a volume of 589 trillion, Shiba has become among the prominent memecoins in the distributed ledger. It emanated with an advent peculiar feature that seemed pertinent to the natives of the blockchain ecosystem.
Bitcoin Spark Seeks to Take Over the Crypto Industry
Being amongst the new digital currencies in the decentralized ecosystem, Bitcoin Spark leverages blockchain technology to enhance security, reliability, and efficiency. The platform’s smart contract and KYC have been checked and verified by three comprehensive audit companies: Cognitos, Vitao Block, and Contract Wolf.
The project’s team has integrated a platform that is user-friendly and easy to navigate. The platform also has a roadmap that contains details of its progress from the commencement period towards the launch and post-launch.
Most cryptocurrency projects have single methods for generating income. However, Bitcoin Spark has double ways of generating revenue. This is conducted via advertisement and renting GPU and CPU power accumulated from network validators to users and organizations.
The processing power can be utilized for film rendering and completing intrinsic computational equations. The team will take 3% of the revenue collected from processing power for maintenance and income. In addition, a portion of an unused part of the website and application.
The advertisement will be conducted in an elastic mechanism as the platform. Organizations that wish to promote their brands need to comprehend that when there is immense demand for advertising, their prices surge, and the time allocated for a single advert will be reduced. Moreover, the project is in phase 5 of its presale, where each BTCS is sold at $2.50. Community members who purchase these tokens at this phase are given a bonus of 9%.
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