Bitcoin Spark (BTCS) is getting significant attention in the crypto space. Market observers suggest with Binance’s current situation, BTCS might be the
On June 5, 2023, the U.S. Securities and Exchange Commission sued Binance and its founder, Changpeng Zhao, alleging that they worked to attract U.S. customers to its unregulated international exchange, commingled investor funds with their own and violated securities laws.
Additionally, Binance has seen the departure of 10 executives from various departments, with four top executives reportedly leaving the same day after Binance’s response to the United States Department of Justice investigation. While the exchange’s Zhao took to X to address the growing speculations around the departure of the executives, and some of them insisted it’s routine, the crypto community has become a bit more skeptical about exchanges since the FTX collapse.
Bitcoin Spark significantly extends its real-world applications by introducing decentralized CPU and GPU rental. The network uses a groundbreaking consensus mechanism known as Proof-of-Process , which non-linearly rewards users for confirming blocks and contributing their processing power. Bitcoin Spark is incredibly lightweight, allowing even low-powered devices to run the network.
The validators’ collective power will then be ‘rented out’ to organizations or individuals as remote computing power. Those needing the computational resources will pay using BTCS, and the revenue will be channeled to the network’s validators.
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