SPARK
SPARK is the native token of the Spark Chain.
Contract address: Coming soon
Token Usage
Spark enables holders to engage with the Spark network as follows:
Power Transactions & Buybacks: Spark will be used to power web scraping transactions, dataset purchases and LCR usage.
Staking and Rewards: Stake Spark to Routers to facilitate web traffic flowing through the network and earn rewards for contributing to the security of the network.
Network Governance: Participate in the development of the Spark network, including proposing and voting on network improvements, aligning on which organizations to work with, and determining incentive mechanisms for all stakeholders.
Network Fees
Within the Spark Ecosystem, all stakeholders are ultimately compensated in Spark . The Spark Foundation provides purchasers, whether consuming bandwidth, datasets or utilizing LCR, the flexibility to pay in USD, USDC, or other supported network tokens. Revenues generated by the network will be converted into Spark . Those revenues will then be used to compensate stakeholders who facilitate access to network resources on a pro-rata basis.
Network Security
Spark is staked to routers to ensure routers are in compliance with network protocols. Routers are required to correctly facilitate bandwidth traffic and accurately report resources consumed with each transaction. Slashing is currently triggered manually; as the network undergoes development and becomes fully decentralized, slashing is expected to occur autonomously.
Why a Distributed System is Necessary
There are three equally important reasons for which Spark needs to operate on a blockchain.
Transactional Efficiency: Global settlement in over 190 countries is both easier and better on-chain than it is off-chain.
Transparency: Proofs of each transaction being posted on-chain provides empirical evidence that rewards are being equitably distributed. It also provides transparency with respect to the verification of data provenance.
User Ownership: Users should own their contributions to the internet, otherwise they will continue to be exploited by large tech companies.
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