Hedera (HBAR) and Sui (SUI) have recently seen their prices decline significantly. However, there’s hope for investors as a new BTC fork known as Bitcoin Spark has been predicted to surge by 80X.
What is Hedera?
Hedera (HBAR) is a public distributed ledger platform that utilizes a unique consensus mechanism called Hashgraph to achieve high levels of scalability and security. Hashgraph is a patented algorithm that enables fast and fair transaction processing by leveraging a gossip protocol and virtual voting system. Hedera aims to provide a decentralized and tamper-proof network for a wide range of applications, including supply chain management, tokenization, and decentralized finance (DeFi).
What is Sui?
Sui (SUI) is a Layer-1 blockchain that provides an infrastructure for decentralized applications (Dapps) and smart contracts. It prioritizes scalability for its Dapps and is designed to reduce the time it takes to execute smart contracts. Sui also aims to make digital asset ownership fast, private, secure, and accessible to a wider range of users.
Why are the prices of SUI and HBAR falling?
Hedera and Sui are both headed for token unlocks, which are scheduled and staggered releases of assets that were frozen to protect early investors from sell-offs. Token unlocks are typically bearish events for the assets involved because they increase the circulating supply, leading to increased selling pressure.
Bitcoin Spark
Bitcoin Spark (BTCS) has gained recognition as a revolutionary project that solves Bitcoin’s limitations while bringing forth a new era of crypto. The Bitcoin fork has the same tokenomics as the original cryptocurrency but with an extended time until maximum supply is reached. Additionally, the network will have a larger number of nodes, a reduced block time, and increased individual block transaction capabilities, leading to faster and more cost-efficient transactions.
The Bitcoin Spark network will also support smart contracts and decentralized applications (Dapps). It will have a multi-layered system that reaches finality on the main network but allows for different programming languages. This ensures scalability and promotes diversity, establishing Bitcoin Spark as a robust blockchain with use cases beyond being a Peer-to-Peer payment system.
Furthermore, Bitcoin Spark introduces a new concept of decentralized CPU/GPU rental. The network uses a novel consensus mechanism known as the Proof-of-Process (PoP), which rewards its validators for confirming transactions and contributing their processing power. The presence of many network nodes suggests Bitcoin Spark can accommodate a significantly higher number of validators, which has the double benefit of increased security. The Bitcoin Spark dev team has also made it easier to engage in network validation through an application that will be compatible with all Windows, Android, iOS, Linux, and Mac OS devices. To participate in the network validation users will simply need to install the app and permit access to their device’s processing unit. The software will then create a separate virtual environment to ensure security and will regularly adjust the processing power used to account for factors like overheating and simultaneous usage needs.
The processing power contributed to the network will then be rented out securely to vetted institutions and individuals requiring significant computational power. And those using the network for remote computing will pay with BTCS. This provides an undeniable real-world application for the crypto and also introduces a novel way to reward network validators since the revenue generated will be distributed among them.
Bitcoin Spark’s potential for growth and adoption has not escaped savvy investors, as several crypto whales have invested significant amounts in the project’s Initial Coin Offering (ICO). The progress of the ICO has also been nothing short of astonishing. The BTCS token has seen an increase of 311% in just four weeks, currently selling at $2.25 in Phase 4. Nonetheless, this Phase just recently started. Therefore, investors still have a chance to get a 10% bonus and a whopping 489% increase in investments by launch day.
Conclusion
Bitcoin Spark’s innovative technology, low market cap, relation to Bitcoin, and increasing support in its ICO all suggest that an 80X surge is not improbable. Thus, BTCS could be a suitable alternative for SUI and HBAR investors.
For more on Bitcoin Spark:
Website: https://bitcoinspark.org/