Anticipation is rife in the crypto arena as the SEC (US Securities and Exchange Commission) stands at a crossroads, facing a pivotal decision regarding the long-awaited Bitcoin Spot ETF (Exchange-Traded Fund). Meanwhile, Bitcoin Spark, a new Bitcoin fork, is brewing a storm, further heightening the excitement and speculation in the crypto arena. The SEC’s forthcoming decision has the potential to mark a significant turning point for the adoption and acceptance of cryptocurrencies in the TradFi sector. As the crypto community awaits the verdict, the SEC will eventually bury the hatchet and give the green light.
What is a Bitcoin Spot ETF?
A Bitcoin Spot ETF (Exchange-Traded Fund) is a financial product providing exposure to the Bitcoin price movements. Unlike traditional Bitcoin ETFs, which deal in Bitcoin derivatives, a Bitcoin Spot ETF directly holds physical Bitcoin. The ETF custodian owns and secures the actual Bitcoin tokens on behalf of the investors, and the ETF’s share price reflects the real-time Bitcoin value. The main feature of a Bitcoin Spot ETF is the ability to track Bitcoin’s price in real time. Investors can buy and sell shares of the ETF on traditional stock exchanges as they would with stocks, making it a convenient and regulated way to invest in Bitcoin without directly purchasing, holding, and managing cryptocurrency.
A Bitcoin Spot ETF is advantageous for its ease of access to mainstream investors, increased liquidity, and regulatory oversight, making it more appealing to institutional and retail investors. ETF has been a subject of significant interest and speculation in the financial world as it could have a substantial impact on Bitcoin’s adoption and the broader cryptocurrency market.
The approval of a Bitcoin Spot ETF application in the US by ARK Invest, BlackRock, Invesco, Fidelity, etc, is still pending with the SEC.
What is a Bitcoin Fork?
A Bitcoin fork is an intentional change or divergence in the protocol or rules governing the Bitcoin blockchain. The result is a split into two separate blockchains, each deploying its ideals and regulations. A soft fork creates rules that are more restrictive than the old ones but coexist. Miners and nodes can still validate new transactions even without upgrading. Soft forks typically fortify, enhance, or optimize the existing Bitcoin network. They require the majority of support from miners and nodes to activate.
A hard fork is a more radical non-backward-compatible change to the Bitcoin protocol. The new rules are incombatible with the old ones, resulting in a permanent split of the original blockchain into separate chains. Each chain bears transaction history and continues to evolve independently. A hard fork results from fundamental disagreements within the Bitcoin community about the protocol’s direction. Forks require a consensus among miners, nodes, and users to support the new chain. Hard forks are planned and executed deliberately to introduce new features or address issues within the BTC network. Bitcoin Spark (BTCS) is an example of a BTC hard fork addressing speed, and scalability, and introduces smart contracts.
Bitcoin Spark (BTCS)
Bitcoin Spark is the latest BTC fork currently running an exciting ICO. Its BTCS price has steadily risen through its fast-selling phases and is at $3.50, with a 5% bonus in phase nine. BTCS guarantees an ROI of 300% when the project launches at $10 on November 30.
Bitcoin Spark utilizes a new protocol, Proof of Process to address accessibility and foster inclusivity. BTCS applies a refined mix of PoS and PoW to empower miners through computing power rental. Under this concept, able miners can contribute processing power for rental to institutions and individuals requiring mining resources. It offers an affordable entry into its platform that mirrors BTC’s early days. BTCS democratizes crypto mining by lowering the barriers to entry. The Bitcoin Spark application provides an easy platform that allows mining using standard devices like smartphones and computers. As a result, anyone can mine and enjoy rewards fairly distributed. The app’s advanced algorithms ensure mining rewards are available regardless of mining power or wealth.
BTCS platform has undertaken rigorous checks to test the transparency and stability of its systems via KYC and audit certifications. According to its comprehensive whitepaper, BTCS will introduce smart contracts and allow dApp development. A BTCS Wallet will also be availed in the future.
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