Vitalik Moves Ethereum Towards Compliance, Whilst Stopping Bitcoin Spark-Style Innovation For ETH

As Vitalik Buterin moves Ethereum towards compliance, questions arise about how the approach leans towards innovative ideas like Bitcoin Spark.

Vitalik Buterin

Vitalik Buterin, one of the visionary co-founders of Ethereum (ETH), has been an unwavering advocate for the blockchain’s fundamental principles of privacy and decentralization. In his view, these principles are the cornerstone of Ethereum’s future success.

He firmly warns against the potential vulnerabilities posed by centralized entities like custodial exchanges, emphasizing the importance of enabling direct transactions on the Ethereum network.

Buterin envisions Ethereum playing a pivotal role in empowering emerging economies by facilitating seamless payments, savings, and access to the global economy. His vision extends to enhancing Ethereum’s overall decentralization and security to cater to everyday users while also championing the integration of privacy-enhancing technologies like zero-knowledge proofs.

He highlights how the transition to a Proof-of-Stake (PoS) consensus mechanism paves the way for improved anonymization while steering Ethereum toward a regulatory-compliant and robust future.

What is Bitcoin Spark?

Bitcoin Spark is a blockchain that seeks to solve the limitations of previous blockchain networks and usher in a new era of digital transactions. While it has introduced many notable technologies, what has captured the attention of many is its consensus mechanism, the Proof-of-Process (PoP), and native application.

The Proof-of-Process combines elements of Proof-of-Stake and Proof-of-Work (PoW) systems, requiring users to provide a stake and processing power to the network in order to confirm blocks and earn rewards. However, the PoP exponentially reduces rewards per additional stake and processing power to ensure a fairer distribution of rewards.

Combining the PoP’s nonlinear functionality with vast network nodes allows Bitcoin Spark to accommodate a massive number of validators/miners, promoting true decentralization. 

The Bitcoin Spark network will have a native application created by its development team. The Bitcoin Spark application will be compatible with Windows, Mac OS, Linux, iOS, and Android devices. It will act as a wallet for the Bitcoin Spark network and other network capabilities such as XRP, BNB Smart Chain, Solana, and others.

The Bitcoin Spark application will also enable users to participate in network validation by simply permitting access to their devices’ processing units. To ensure security, the app will work in a virtual environment that doesn’t interact or interfere with any other part of the device. It will also continually adjust the processing power used to accommodate simultaneous device usage needs and conserve battery life.

Notably, the validators’ processing power will be channeled to institutions or individuals in need of remote computing power through Bitcoin Spark. The network’s clients will pay with BTCS, and the revenue generated is then distributed among validators, bringing income from what would have otherwise been dormant power.

Additionally, Bitcoin Spark will have small spaces for ads on its application and website. The ads will be community-policied to uphold decentralization. Advertisers will pay in BTCS, with 50% of the revenue earned, plus incentives for policing the ads, going to network participants.

Furthermore, Bitcoin Spark will have a multi-layer architecture that includes a smart contract layer with different execution systems that all reach finality on the main network, allowing for a myriad of programming languages. This positions Bitcoin Spark as a scalable platform for diverse smart contracts and decentralized applications (DApps).

Bitcoin Spark’s features, aligning with Vitalik Buterin’s vision for Ethereum, suggest it has great potential for growth and adoption. The massive investments made in the project’s ongoing  Initial Coin Offering (ICO) further suggest there’s belief in its prospects among investors.

For more information on Bitcoin Spark and its ICO:

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