The Shiba Inu Phenomenon: Can Bitcoin Spark Replicate its Success?

2023-9-4 21:51

Blockchain-powered projects emerge every day. However, those that make it to mainstream adoption have massive utility in the cryptographic space. Projects that lack utility, such as meme coins, dwindle before they hit mainstream adoption. However, meme coins have played a significant role in ecosystem development. For instance, Shiba Inu is among the top meme coins the industry has seen remarkable growth since the inauguration of blockchain technology and the birth of cryptocurrencies like Bitcoin. However, Bitcoin Spark is showing more potential than Shiba Inu.

What is Shiba Inu?

Shiba Inu is a meme coin on the Ethereum mainnet that uses a Japanese dog breed called Shiba Inu as its mascot. The meme coin was developed in August 2020 and immediately hit mass adoption as the founders marketed the project as the ‘Dogecoin killer’. The project was created as an experiment to identify what could happen if a DeFi project was run entirely by community members. The project has been endorsed by billionaire Elon Musk on his social platform X several times, driving its adoption even further.

Shiba Inu is no Match for Bitcoin Spark

Shiba Inu performed exceptionally in the last bull market immediately after its debut. However, the project needs more utility and has since lost more than 90% of its value from its all-time high price. As investor sentiments shift to bullish after Bitcoin ETF approvals, a new DeFi project called Bitcoin Spark promises better returns than what Shiba Inu recorded in 2020. Bitcoin Spark’s new consensus mechanism offers more decentralization than any other network in the crypto market.

Unlike Shiba Inu, whose maximum supply is capped at one quadrillion tokens, Bitcoin Spark has only 21 million tickets. Shiba Inu, which is intentionally minted to be abundant. However, Bitcoin Spark is designed to be a scarce asset. Bitcoin Spark has an Ethereum-powered IOU token by the ticker symbol BTCS. Three reputable smart contract audit firms have already audited the platform, and the reports are available for investors to verify on Bitcoin Spark’s white paper.

The project intends to redeem the IOU tokens for mainnet BTCS tokens on the platform when the network goes live. After the token switch, all centralized exchange tokens will be deposited and withdrawn in relative amounts to support the network. After the launch, the devs will allow third-party developers to create stand-alone mining devices to enhance decentralization. The network will also integrate BTCS-20 on the Spark mainnet to improve the network’s growth and scalability.

Bitcoin Spark plans to be among the few gasless networks. The platform will initially have transaction fees for one or two years after the launch as the devs prepare to integrate revenue streams on the platform. These gas fees will be directly distributed to miners who man the network by adding new blocks and approving transactions.

You may wonder how BTCS miners will earn rewards if the network is gasless and has no transaction fees. Bitcoin Spark’s two revenue streams will generate enough revenue to pay for validator fees and leave some amount for the team founders. Bitcoin Spark miners will provide processing power leased to organizations for complex online activities like video rendering and solving complex mathematical equations. These clients will pay for the processing power in the platform’s native digital asset, BTCS.

Bitcoin Spark’s presale is ongoing, and investors can pick up BTCS tokens at affordable prices. The ICO has just begun its phase 4, and users will get BTCS tokens for only $2.25 per token and a 10% bonus for all orders completed during the phase.

Learn more about Bitcoin Spark on:

Website: https://bitcoinspark.org/

Buy BTCS: https://network.bitcoinspark.org/register

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.

Photo by Thought Catalog on Unsplash

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Mainstream For The Underground (MFTU) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $32
Изменеия 24h: 20.31 %, 7d: 0.44 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 7762
Цена в час новости $ 0.0001268 (-100%)

mainstream utility projects adoption cryptographic massive lack

mainstream utility → Результатов: 26


Ethereum Classic and Litecoin Price Predictions Falling As Investors Look to Metacade’s Presale to Maximize Investments

For those involved in Web3 and watching the markets, it can sometimes be difficult to appreciate the huge scale of the advancements being made. Slowly but surely, projects with real utility and solid use cases are making their way toward mainstream adoption, with large industries like finance and gaming likely to see huge disruption over […] The post Ethereum Classic and Litecoin Price Predictions Falling As Investors Look to Metacade’s Presale to Maximize Investments appeared first on CoinJournal.

2023-3-17 19:17


Фото:

Enterprise Applications of Crypto Liquidity

Crypto continues to move towards mainstream adoption, with more enterprise blockchain applications leveraging cryptocurrencies and other digital assets for operational and transactional purposes. To fully realize this shift, both financial institutions and businesses will have to more wholly embrace the technology by first gaining a better understanding of crypto utility.

2022-3-8 19:55


PayPay CEO: Bitcoin Support Will “Fundamentally Bolster” Crypto “Utility”

Bitcoin adoption metrics are reaching all-time highs, and the crypto asset’s price has been on a steady ascent higher since PayPal announced it would be supporting cryptocurrencies. But according to the company’s CEO, their support will “fundamentally bolster” the “utility” of cryptocurrencies by making them more accessible to the mainstream masses. Here’s how the payments […]

2020-11-5 23:00


Bank of America’s CTO claims BOA hasn’t found blockchain use-cases for financial sector; cryptoverse calls bluff

Through a varied mix of good and bad publicity, cryptocurrency today is very close to mainstream acceptance. While the cryptospace has witnessed the recent involvement of several non-financial organizations such as Nike and Jaguar, some industry leaders and government officials have openly discounted cryptos’ utility.

2019-5-16 17:00


SherCoin Platform and Token Redefines Utility Token Functionality for Mass Adoption

Bitcoin Press Release: Blockchain startup SherCoin has created a robust platform with a highly functional utility token, all designed to facilitate mass adoption through its blockchain-ecosystem. November 26th, 2018, Dubai, United Arab Emirates – Since 2017 the cryptocurrency and blockchain industry has been propelled into the mainstream to some success, however, solutions and platforms that […] The post SherCoin Platform and Token Redefines Utility Token Functionality for Mass Adoption appeared first on Bitcoin PR Buzz.

2018-11-27 16:40