top of page
What blockchain technology does Sparkle use?

 

Sparkle is based upon BitShares, but replaces Delegated Proof of Stake with Proof of Work for the consensus algorithm.

What mining algorithm is used?

 

Sparkle uses SHA512 as a mining algorithm, but this algorithm can be changed at any time with majority vote of the sparklers (spark holders).

Is there a Pre-Mine? 

 

No Sparks were pre-mined for the developers of Sparkle.   In recognition of the BitShares developers and community which have made Sparkle possible, 100 million sparks were initially distributed among BitShares PTS, AGS and BTS holders.   BitShares PTS was a proof of work crypto currency based upon Bitcoin that had 0 pre-mine.   AGS is a list of people who donated to fund the development of BitShares.  The donation campaign was effectively emulated mining.  BitShares holders continue to fund the development of new features via dilution and are also recognized.    

 

In percentage terms the initial allocation will be less than 40% after the first year and less than 15%.

01

02

03

How is development paid for?

 

Sparkle pays for development by issuing new Sparks to 101 workers who are ellected by the existing sparklers (Spark holder).  The 101 workers earn a combined income equal to that of the combined income of all miners.

04

How do I become a paid worker?

 

Join the forum and start volunteering.  Make your services indispensable and prove what you are capable of.   You will quickly become known by the large Spark holders who will use their stake to vote you into a paid position.   

 

When you campaign to become a paid worker you must put down a deposit equal to 2 weeks of pay that will be forfeit if you are not approved.    You can specify your own payrate as a percentage of the maximum pay so if you can only work part time or are performing a lower-value service, then you can campaign for a lower sallary.  

 

You can lower your pay rate without having to get re-approved by the Sparklers, but you cannot increase it. 

05

You have questions, we have answers.

Some of the most common questions are answered below, but just in case you don't find what you are looking for you can visit our forum.

What are the high level currency parameters?

 

Currency Unit:  SPK (Spark)

Mining Algorithm: SHA512  (initial, may change)

Initial Supply:  100M SPK  (Divided among AGS, PTS, and BTS holders)

Mining Reward:  50 SPK / block, linearlly decreasing to 0 over 100 years. 

Workers Reward:  50 SPK / block, linearlly decreasing to 0 over 100 years.

Block Interval: 20 seconds

Maximum Spark Supply: 7,984,000,000 SPK after 100 years. 

Precision:  5 decimal places 

06

bottom of page