Chase, a JP Morgan subsidiary, has banned digital currencies in the UK. This indicates the firm will not have crypto trading and transactions accruing. The ban has sparked a lot of attention in the decentralized ecosystem, as many individuals suggest the move was unfair and unethical. Users based in the UK’s territories would suffer as they can’t conduct trading activities with one another.
Altcoins like Cardano had already taken over the zone. The new digital platform, Bitcoin Spark, remains unfazed since it contains new features promoting transparency and efficiency in the distributed ledger. The project’s new mechanism, proof-of-process, will completely change the perspective concerning blockchain technology.
What is Chase Bank?
Chase is a JP Morgan subsidiary or digital bank launched in the United Kingdom in 2021. The digital bank is among the most significant virtual banks in the US. It offers various services and products, including savings, daily banking, mortgages, and credit cards. The bank is highly preferred by blockchain enthusiasts based in the UK for the mentioned services.
ADA Price, LINK Price
Cardano is considered amongst the most influential and desired digital currencies. The blockchain network has set immense developments in the distributed ledger with its proof-of-stake ouroboros mechanism ADA. The native token is believed to surge in the next bull run. The digital currency has had a slight plummet amid the winter session.
Chainlink is a decentralized platform that ultimately enhances non-blockchain enterprises to connect with blockchain networks. Having its native currency, LINK, the platform has slightly surged as it awaits the bull market to commence.
Bitcoin Spark Unfazed Amid Crypto Ban
Regulations in the crypto market never seize. Each nation is tightening its belts to avoid fraudulent activities from external individuals who take advantage of the blockchain community. The new decentralized platform, Bitcoin Spark, has a newly adjusted mechanism yet to be witnessed.
The mechanism called proof-of-process will take over the distributed ledger. Three comprehensive audit platforms, Contract Wolf, Cognitos, and Vital Block, have researched and verified Bitcoin Sparks KYC and smart contract operation.
The platform’s native token is BTCS, which acts as a gas currency for the project. The token is also utilized in awarding users who fully participate in the growth and adoption of the platform. The token supply of Bitcoin Spark coincides with that of Bitcoin, as there are 21 million tokens to be minted.
BTCS has been distributed to mining pool rewards (16.45) and the rest to launch supply (4.55 million). A total of 50 million tokens have been distributed to the team, 500k have been allocated to pre-launch liquidity pools and exchanges, and 4 million have been distributed to initial coin offerings. The project is in phase six of its ongoing presale, where each BTCS is sold at $2.75. This is a cheap price considering the phase of the ICO.
Moreover, individuals who purchase the token during this phase will get an 8% bonus. They will also have 393% capital gains during the launch on 30th November. At this stage, each BTCS will be sold at $10. The crypto project will surge during the bull run period as there is a lot of potential embedded in the ecosystem. Venture capitalists and individual investors have already joined the bandwagon.
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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.