USDT issuer, Tether recently appointed a new chief executive officer (CEO), Paulo Ardoino, the company's former chief technology officer (CTO). Ardoino will take charge of his new responsibilities and duties as Tether's CEO from December 2023, succeeding Jean-Louis der Velde, who has shifted to an advisory role in the company. Although Jean-Louis has exited the company's CEO role, he will still retain his CEO role at Bitfinex, a famous cryptocurrency firm and sister company of Tether, also in the iFinex group. While this administrative shift is happening, a USDT whale has invested in this new BTC fork.
What is USDT?
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USDT or Tether USD is an asset-based collateralized stablecoin issued by Tether. As the name "stable" suggests, the digital asset is among a group of digital currencies that bring stability to the crypto market through asset pegg mechanisms. USDT is pegged to the underlying value of US dollars in the ratio of 1:1. Tether was developed to make digital currencies more tradable and accessible without the worry of intense volatility experienced by buying cryptocurrencies directly with fiat currencies.
How to mine BTCS tokens
BTCS tokens are digital currencies currently on the Ethereum mainnet but are set to form a fundamental base for the incoming Bitcoin Spark ecosystem. Bitcoin Spark has capped the supply of BTCS at 21 million, with 16.45 million BTCS tokens allocated to the mining pools of the platform. You are probably guessing that Bitcoin Spark is a proof-of-work blockchain. Well, to some extent, this is true. However, the governing consensus of the Bitcoin Spark network is proof of process.
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Proof-of-process is a new and advanced consensus mechanism existing in the heterogeneity of proof-of-work and proof-of-stake consensus mechanisms. However, the primary network validation activities surround the adapted proof-of-work attributes. Miners will mine BTCS directly from the designated mining pools of the Bitcoin Spark ecosystem by solving less complex mathematical equations. The mining process is so less complicated that network participants will require simple mining devices managed by a mining application.
The newcomer is expected to launch the Bitcoin Spark mining applications for most used operating systems, including Windows, iOS, Mac OS, and Linux. This application will link directly to the platform's Contract Wolf audited smart contract through a stable internet connection with up to 50 Mbps speeds. This application will run mining activities using the device's RAM and the CPU/GPU to solve the 'proof-of-work' style hexadecimal hash decoding. Unlike other proof-of-work blockchains, Bitcoin Spark's rewards for solving the hash will not be linear (a factor contributing to centralization). Instead, Bitcoin Spark is the pinnacle of mining decentralization through a non-linear reward distribution system.
The mining application will be so advanced that users will control the mining process, allowing the mining device to multitask. The application will have a settings function to allow users to set a lower mining performance rate when the device is being used for other activities, like during the day. The customization will also allow miners to increase the mining performance when the device is not in use (for instance, during the night).
Bitcoin Spark's ICO is almost terminating but has just begun phase 8. With only two more stages to go, this could be a missed chance, similar to buying Bitcoin before mainstream adoption. The current BTCS price is $3.25 but is subject to surge to $10 after the end of the ICO and up to $700 in the next bull market cycle.
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Learn more about Bitcoin Spark on:
Website: https://bitcoinspark.org/
