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Coin Review [SPA] SPARTA – A Proof-of-Stake Cryptocurrency. Simple. Fast. Reliable.

Discussion in 'Altcoin Reviews' started by SPARTA, Mar 27, 2018.

  1. SPARTA

    SPARTA Contributor

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    Description of SPARTA's main advantages:
    Convenience and accessibility for all


    The SPARTA website and wallet are as user friendly as possible. The features are simple. Anyone can figure out how to use them. SPA can be exchanged at any time for fiat money through exchanges or trading platforms. You can do this now on the SIGEN.pro platform, BTC-Alpha exchange or through the built-in exchange on our website https://sparta.top/.

    So if you want to buy SPA, you can do so in a few clicks. And if you need money to buy stuff, you can easily trade SPA for fiat money or other cryptocurrencies. And you can do whenever you want.

    Moreover, the SPARTA network has no social, national, government, religious, political, or gender limitations. It doesn't matter how old you are, what you do for a living, or what your level of education is. You don't need to study at a university, pass exams, or get a license. SPARTA is available to everyone.

    SPARTA is used with equal success by people from countries around the world regardless of their gender, nationality, religion, social status, or political views. Cryptocurrency users are a diverse group with entirely different interests and traits. SPARTA equalizes the rights of all users and unites them in what matters most: building free, honest, and fair financial relations.
     
  2. SPARTA

    SPARTA Contributor

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    Description of SPARTA's main advantages:
    Proof-of-Stake


    Bitcoin and most other cryptocurrencies use the Proof-of-Work (PoW) concept. This was the very first technique used, and it happened to bring a lot of issues with it. However, SPARTA uses Proof-of-Stake (PoS), so here this process is called forging, not mining. What's the difference?

    • In the case with Proof-of-Work, mining requires considerable and expensive computing power as well as huge monthly electricity costs. In search of profits, miners keep buying powerful specialized hardware that costs a huge amount of money. Miners began to pool their powerful resources, thus pushing ordinary people out of mining. This leads to centralization, which cryptocurrency was specifically designed to fight against.

    • In the case with Proof-of-Stake as a forging tool, the user account balance is used instead of computing power. SPA tokens (coins) are used instead of processors and video cards. Each token is a forging tool. Thus, forging is more convenient and simpler than traditional mining, because a regular computer is powerful enough. As a result, this method is available to ordinary people and does not promote centralization.

    In the SPARTA network the probability of creating a new block is distributed among all network participants using a special formula that depends on their addresses balances. The more SPA tokens are in an account, the greater the chances of creating a block and receiving a reward.
     
  3. SPARTA

    SPARTA Contributor

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    Description of SPARTA's main advantages:
    Protection against inflation


    Nobody can create an unlimited number of SPA. The same can't be said about dollars. There are no printing presses here. National currencies lose 1-20% of their value (sometimes more) each year. But SPARTA, like gold is backed by a limited volume. An arbitrary number of SPA tokens cannot be printed. This protects the network from inflation.

    Tokens will be produced solely through the forging process until the maximum quantity of 8,888,888,888 (~9 billion) coins are produced. Then production will cease. This will take place no earlier than 2025.

    The cryptocurrency exchange rate is governed only by the market. Because SPARTA has so many advantages over banks and other cryptocurrencies, and because cryptocurrencies as such are constantly becoming more popular, the SPA exchange rate is also expected to grow.

    The dollar and other fiat money is subdivided into hundredths (a minimum of 0.01 USD, i.e. one cent), but the SPARTA is subdivided into millionths, i.e. Apella (1 Apella = 0.00000001 SPA).

    Thus, people will always be able to buy and use SPA at any exchange rate. Even if SPA coins become worth 1 million USD each, people will still be able to buy a certain amount of SPA for 1 cent.
     
  4. SPARTA

    SPARTA Contributor

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    Description of SPARTA's main advantages:
    High capacity, fast transactions


    Bank transfers may take 3-5 business days. Transactions in SPARTA are instantaneous, and transaction confirmations only take 1 minute.

    The transaction is deemed safe after 10 confirmations, or 10 minutes. So, you will have to wait 10 minutes when transferring large amounts.

    The network capacity is as follows:

    • 14.7 transactions per second;
    • 888 transactions per minute;
    • 53,280 transactions per hour;
    • 1,278,720 transactions per day;
    • 8,951,040 transactions per week;
    • 38,361,600 transactions per month;
    • 466,732,800 transactions per year.
    You can send money anywhere in the world quickly for a minimal fee. By comparison, Bitcoin supports a maximum of 300,000–400,000 transactions per day. SPARTA transactions four times as fast as Bitcoin.
     
  5. SPARTA

    SPARTA Contributor

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    What is a transaction?


    Transactions are the only way SPARTA addresses can alter their balances. Each transaction performs a single function. A record of the transaction is permanently stored on the network once it has been included in a block.

    In short, a transaction is transfer of SPA from one address to another. When a SPARTA network participant carries out a transaction, it gets into a transaction pool along with all other new transactions of network participants.

    All SPARTA transactions are considered unconfirmed until they are included in a valid network block. When a block with a transaction is included in the blockchain, it becomes a transaction with one confirmation. As a rule, once the transaction has been sent, it goes from the pool immediately to the block. As blocks on the SPARTA network are created every minute, in most cases a transaction needs only 1 minute to get the first confirmation.

    As subsequent blocks are added to the existing blockchain, each transaction receives new confirmations from each of the added blocks. On the SPARTA network, each transaction is deemed safe after 10 confirmations. If for some reason the transaction is not included in the block before its deadline (24 hours), it is removed from the transaction pool.
    For more information about transactions see our Whitepaper
     
  6. SPARTA

    SPARTA Contributor

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    Is there a risk of faking SPARTA transactions?

    SPARTA network operates in such a way, that it is just impossible to fake any transaction. Each of them has a unique digital signature. And any attempts to commit any fraud, such as sending two similar transactions, will be terminated. Transactions created as a fraud simply cannot be accepted by the blockchain.

    For example:

    Mark transferred 1000 SPA to Lesley.

    • When Mark made the transaction, there was an automatic signature of Mark attached, which proves that SPA were sent by him. Such transaction can be accepted by the blockchain.

    • But here come evil user Steve and tried to fake a transaction by indicating that Mark sent 1000 SPA not to Lesley’s wallet but to Steve’s. But to the disappointment of Steve there was no a unique signature of Mark attached to that transaction, and blockchain simply denied it.

    There is a theoretical possibility of the SPARTA network attacking with the purpose of repeating of the transaction, to return coins to another address, but after going through 10 confirmatons to succeed with any attack aimed to transaction editing will be just impossible. In other words, if a transaction has 10 confirmations, it can not be repeated. It is considered to be safe and complete.
     
  7. SPARTA

    SPARTA Contributor

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    How SPARTA wallet can be created, how to login and check the balance?


    With help of the wallet you can store coins and make transactions at the SPARTA network.


    • Click the Create a Wallet button;

    • Select the level of complicity (length) of the mnemonic code (for example, 128-bit) and click the button “Generate”. The more bits you are to select, the longer phrase will be and your wallet will be more protected;

    • You should copy and save the generated phrase at a safe place. It is advisable that you memorise it and write down on a piece of paper. This phrase will be both your login and password;

    • Click the I Saved the Phrase button and you will be logged in to the wallet.

    In future this same phrase you should use for login to the wallet at the page https://wallet.sparta.top/.

    • At the wallet, under the Balance line there is shown your balance in SPA and approximate amount in other currencies/cryptocurrencies;

    • Next to the Address line you will see your address in the SPARTA network. It looks like this: SPA15g5hhBADZv9ufRLmc.

    In your wallet you can keep unlimited amounts during unlimited period of time.
     
  8. evanha11

    evanha11 Contributor

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    sdox
     
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  9. SPARTA

    SPARTA Contributor

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    How to send SPA?


    • Click “Send”. This will open a special form for sending SPA.

    • Specify the following data in the relevant fields:
      • the recipient's SPA address,
      • the transfer amount,
      • the fee amount (the recommended amount is 1 SPA).

    • Click the blue “Send” button.

    The recipient can spend the SPA immediately after you make the transfer. (the transaction gets 1 confirmation).
     
  10. SPARTA

    SPARTA Contributor

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    What is a digital signature and where does it come from?


    Each transaction contains a unique digital signature that confirms that the transfer was made specifically by the sender, not someone else.

    The digital signature is generated from the private key which belongs to the owner of SPA coins and invisible for anyone. The signature is encrypted and attached to the transaction. It is a proof the the transaction is valid and was created specially by the sender.

    • It is impossible to counterfeit the digital signature if one doesn't know the private key.
    • The private key is generated from a mnemonic phrase which only you know

    • All information uses the cryptographically secure SHA 256 hash algorithm, therefore the digital signature or private key cannot be counterfeited without a mnemonic phrase. This is why it is crucially important to keep it in secret
     
  11. SPARTA

    SPARTA Contributor

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    Why are all SPARTA transactions pseudonymous?

    As all you need to check the validity of a transaction is its digital signature, all transactions are anonymous More accurate to say they are pseudonymous.

    The recipient and the SPARTA network can see only the address of the public key but it is not known who the address belongs to. For instance, Mark sent 1,000 SPA to Lesly. The network shows only their addresses - a set of letters and numbers. No one can see that the sender’s name is Mark or the recipient is Lesly.

    Therefore, no one can your personal data unless you say about it. And since anyone can create several wallets, you can make any information confidential.

    For example, Lesly knows Mark’s wallet address, but Mark can create a new one and no one will know the new address belongs to him unless he himself tells anybody about it.
     
  12. SPARTA

    SPARTA Contributor

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    What is the fee in the SPARTA network charged for?


    Each transaction in the SPARTA network requires a fee. But compared to bank and other cryptocurrencies commissions, it is the lowest.

    The fee is required solely to protect the network from DDoS attacks, unlike in Bitcoin, for example, where the fee serves as a means for miners to generate profit.

    Take, for example, Steve, a malicious network user:

    • Steve has two addresses in the SPARTA network and transfers coins between them back and forth.
    • He endlessly sends 1000 SPA from one wallet to the other one and then back.
    • Each transaction is repeated and gets into blocks though all this has no sense.
    • Doing so, Steve creates an additional load on the network.
    • Having to pay a fee for each transaction, Steve won’t do this.

    The fee protects the system from the described attacks. Charging a fee for a transaction is a necessary measure but we make the fee as low as possible so that users just ignore it.
     
  13. SPARTA

    SPARTA Contributor

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    What would happen if the SPA price rose so high that people couldn't afford to buy it?


    To eliminate this problem in the future, the developers introduced Apella at the initial stage. Apella (APL) is the minimum fractional unit of SPARTA; it equals to one 100 millionth (0.00000001).

    If the dollar and other fiat money is subdivided in one-hundredth (in case with the dollar, the smallest unit is USD 0.01, or a cent), SPARTA is subdivided in 100-millionth.

    This means people will always be able to buy and use SPA at any rate. Even if SPA price is 1 million dollars for a coin, people will still be able to buy a certain number of SPA for a cent.
     
  14. SPARTA

    SPARTA Contributor

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    Forecast: blockchain and cryptocurrency market will grow up to $10 trillion within 15 years


    An authoritative banking specialist predicts the strong growth of the cryptocurrency and blockchain market in the foreseeable future.

    A report prepared by the analyst at the Royal Bank of Canada, Mitch Steves, contains data on the possibility of 13 times growth of cryptocurrencies and blockchain applications within the nearest 15 years, reaching the $10 trillion mark.

    According to the author of the report, investors now already must enter directly into the cryptocurrencies. Steves points out that although cryptocurrencies are high risk investments, they offer great opportunities, and for that reason they inevitably turn into a multi-trillion market.

    In the reputable banker’s view, blockchain and cryptocurrencies are the future of the global economy. Before long, they will turn into a giant market with the huge financial turnover.
     
  15. SPARTA

    SPARTA Contributor

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    Try out new SPARTA forging application with easy-to-use and user-friendly interface — version 1.0.1!!


    Supporting SPARTA network operations and getting a reward in the form of SPA tokens is a lot easier now!

    We’ve released a new version of node software — 1.0.1. The update includes a patch for minor bugs and the much-anticipated, easy-to-use interface for forging which will facilitate support of network operations and receipt of reward. We recommend all owners of SPARTA nodes to migrate to the new version.

    Thus, you can easily launch and rapidly set up forging — please, see the step-by-step guideline below. The new app supports all operating systems: Windows, Linux and MacOS.

    How to use a new application:

    1. Install and run it on your computer. (To run the application you may need to install Java version 8 or later first. Go to https://java.com/downloadto download and install it.)

    2. Open the following webpage in your browser: http://127.0.0.1:8080. After you run the app, blockchain download will start.

    3. When the download is over, enter your mnemonic phrase in the relevant box.

    4. Click the “Start Forging” button. This is it! After you click the button, you will see the forging process begin.

    Your computer now supports the SPARTA network operations and, if all conditions are met, has a fair chance to generate a block and receive a reward.

    Note:

    • Closing this tab will not shut down the app. In other words, even if you close the tab in your browser, forging will be carried on in the background. However, the computer must remain powered.
    • Clicking the "Shutdown Node" button will completely shut down the app (shut down the process on the computer).

    How to start forging:

    1. Create a SPARTA wallet and add SPA tokens to your account. A minimum of 888 tokens are required to start forging. The more tokens you have, the more chances you have to create blocks and receive rewards.

    • If you have between 888 and 999,999 SPA (inclusive) in an account, you receive only the sum of the transaction fees.
    • If you have 1,000,000 SPA or more in an account, you are also awarded newly created SPA tokens.
    2. Complete an outbound transfer. This is necessary to display your public key in the SPARTA network. You can only begin forging after this transaction has received at least 1440 confirmations.

    3. Run a special application for forging on your computer. After the application is started, it automatically begins supporting the SPARTA network. When a block is created, you receive a reward.

    • If the miner has 1,000,000 SPA or more in an account, he or she is also awarded newly created SPA tokens.

    Buy SPARTA and start forging right away!
    Support the operation of the SPARTA, forge SPA and join us in building a new future!


    Forging application - https://github.com/spartacore/sparta/releases/download/v1.0.1/sparta-1.0.1.jar
    Create a wallet - https://wallet.sparta.top
    More about earning by forging - https://sparta.top/how-to-earn.html

    Best regards,
    the SPARTA Team
     
  16. SPARTA

    SPARTA Contributor

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    Forecast: blockchain and cryptocurrency market will grow up to $10 trillion within 15 years

    An authoritative banking specialist predicts the strong growth of the cryptocurrency and blockchain market in the foreseeable future.

    A report prepared by the analyst at the Royal Bank of Canada, Mitch Steves, contains data on the possibility of 13 times growth of cryptocurrencies and blockchain applications within the nearest 15 years, reaching the $10 trillion mark.

    According to the author of the report, investors now already must enter directly into the cryptocurrencies. Steves points out that although cryptocurrencies are high risk investments, they offer great opportunities, and for that reason they inevitably turn into a multi-trillion market.

    In the reputable banker’s view, blockchain and cryptocurrencies are the future of the global economy. Before long, they will turn into a giant market with the huge financial turnover.
     
  17. SPARTA

    SPARTA Contributor

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    SPARTA's WebSite: Navigation


    Let's talk about the SPARTA website today — https://sparta.top/. How you can use it, and where you can find what.

    We'll start by saying the website is easy-to-use and user-friendly — all the information you need is fully available and you can easily find answers to all questions you're interested in. Moreover, this information is available in 20 languages meaning that you can read it in your mother tongue. You can select a language in the top right corner of the webpage.

    The website header is visible on each web-page

    The top section of the web-site displays information about the current SPA market price against BTC, USD and LTC (you can click the currency selection button). To the right, there's a chart icon — click it to display the SPA chart in a pop-up box.

    You can also find the “Buy” and “Sell” buttons here that will take you to the embedded cryptocurrency exchanger. This convenient functionality allows users to exchange SPA without leaving the web-site. These buttons are followed by a number of icons that can take you to our accounts in the social networks — click any of them to subscribe and follow SPARTA's progress.

    Home https://sparta.top/

    The home page features an introductory video about the SPARTA cryptocurrency, our logo and motto. Here you can also find details about the current SPA market price, capitalization, total number of coins and trading volumes, and you can see a chart and a list of exchanges where you can buy/sell SPA.

    Additionally, this webpage includes buttons that can help you create a SPA wallet and read about SPARTA's advantages as compared to other cryptocurrencies.

    About SPARTA https://sparta.top/about-sparta.html

    This page contains details about the SPARTA cryptocurrency. In particular, you can find out where the name comes from and what advantages it has compared to other cryptocurrencies and banks.

    This sections also describes technology behind SPARTA and how you can become a user of the SPARTA network, support its operations and make a profit.

    Earning opportunities https://sparta.top/how-to-earn.html

    This page features detailed information about all earning opportunities with the SPARTA cryptocurrency: forging, investing and trading.

    Each of these opportunities is described in detail to make it easier for you to figure it out. All the three methods are available for anyone who wants to improve their well-being and provide for themselves financially.

    FAQ https://sparta.top/ru/faq.html

    This is a list of answers to the most frequent questions asked by users — about 30 answers in total. Each answer will unfold after you click the question line.

    Road map https://sparta.top/roadmap.html

    This section describes intentions of the SPARTA's team of developers. Each item on the agenda has a circle in front of it — if the circle has a green tick mark in it, the task has been completed.

    As we move along the road map, new tick marks will appear. By having a look at this page now and then, you will always be updated on SPARTA's progress.

    Whitepaper https://sparta.top/whitepaper.html

    Whitepaper is the key document for any cryptocurrency. It contains most detailed information about the ideology, advantages, technical features and operations, plans for the future.


    By studying the SPARTA Whitepaper, you will get a complete picture. To start reading it, click the “Download” button.

    Stats https://stats.sparta.top/

    By clicking this link, you can navigate to the statistical data about the SPARTA network. It displays the current SPARTA price against BTC and USD, capitalization and trading volume, maximum, current and mined number of SPA coins, reward per block and other information to give you an idea of how the network operates.

    Blockchain https://blockchain.sparta.top/

    This page allows you to view data about any transaction completed in the SPA network: amount, date and time of the transaction. Additionally, you can use the blockchain to review information about any wallet: you can see the total balance, sent and received payments with amounts and dates. Information about the balance and the transaction amount is displayed in SPA and in BTC and USD based on the current exchange rate. One of our previous publications contained detailed information about using the blockchain.

    Wallet https://wallet.sparta.top/

    You can click this button to immediately create a SPA wallet and start using it. It's easy: Click “Create a wallet”, select “Encryption complexity” and then click “Create” — your wallet is ready to be used. Remember to note down the generated mnemonic phrase — this you key to the wallet. It's preferable to write it down on a piece of paper and store the latter in a safe place unavailable to the outsiders.

    Footer of the website

    The web-site footer also contains links to all of the above sections and, additionally, features information about the rules of using cryptocurrency, confidentiality and security, as well as promotional materials and contacts for those who would like to collaborate with us or ask further questions.
     
  18. SPARTA

    SPARTA Contributor

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    SPARTA is for Fair and Just Health Care Services. Blockchain Will Help Us!

    You must have heard a lot about the ground-breaking Blockchain technology that underlies all cryptocurrencies, including SPARTA. The truth is capabilities of this technology are limitless.

    The innovative Blockchain technology can revolutionize virtually all aspects of public life, making them a lot better than they are now. It is fully true for health care services that is currently in dire need for improvement — even in many developed countries, not to mention countries with weak economies.

    SPARTA is creating fair financial relations between people and developing the Blockchain technology. Let's have a look at how Blockchain could chain the health care industry.

    • Monitoring shipments of medicinal products. The counterfeiting of medicinal products is a serious issue in today's health care industry. It happens on such a huge scale that hundreds of thousands of people from all over the world cannot get cured from diseases or even risk their lives. When buying a medicine, people cannot make sure this is a high-quality product. They have no verifiable information about the manufacturer since a an unscrupulous seller can easily counterfeit a certificate to sell a counterfeit product. If, on the other hand, all information about a medicinal product is stored in the blockchain, from the moment it is manufactured to the moment it is delivered to a retail store, no one will be able to forge a single record.

    • Secure storage of patient data. Patient data are currently stored by health care institutions in electronic form (on computers) or in hard copies (as medical records). Both of these methods are not 100% secure — hard copies might be lost due to hospital malpractice or in a force-majeure situation while electronic copies might be lost in a software failure. Additionally, there's been a lot of cases where unscrupulous doctors substituted patient information pursuing their own purposes and it was impossible to prove anything later. If, however, the patient database is stored in the blockchain, losing or substituting data will become impossible.

    • Streamlining insurance payments. Today, if an insurance event occurs, the customer must spend a lot of time and effort to collect all the required signatures and receive the payment. The process of being pushed “from Billy to Jack” sometimes lasts a few months. The implementation of the Blockchain technology will enable creation of special smart contracts and automation of the insurance payment process. Smart contracts include specific terms which need to be satisfied for the contract to work automatically.

    All of the above is not a fantasy any more. These issues have been discussed by experts for a long time now; some solutions have even been implemented and used in beta versions. By buying and using SPARTA, you're developing the Blockchain technology. SPARTA is for fair and honest relations in all areas!
     
  19. SPARTA

    SPARTA Contributor

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    You're the Only Owner of Your Own Money with SPARTA


    A lot of people who use banks face the obvious disadvantages — they cannot withdraw as much of their own money as they would like to. Why does it happen?

    The existing banking system is a financial pyramid

    Bank operations are based on the financial pyramid principles. Assume you take your money to a bank and make a deposit at a certain interest. What happens next? If you think that the bank will carefully put your money in a burglar-proof safe and store it there while also paying you interest out of its own pocket, you're making a huge mistake. The bank will never operate at a loss.

    It “makes your money work” by giving it to those who want to withdraw cash. They also give it to those who have applied for a loan, thus making a profit on your money for itself and, partially, for you.

    Similarly, the bank will put all money pooled to its accounts to good use. Assume your wages or another type of income has been transferred to your bank card. It doesn't mean, however, that this money is literally on your account — it's only attributed to your account in the form of digits. That's it. The truth is the bank starts using your money right away by giving it to other customers and making a profit of its own.

    The bank will collapse if people want to withdraw their money with no limitations

    By setting limits, the bank protects itself from the collapse — this is the key reason for all the limitations. What does it mean? The bank doesn't care about your needs — it only pursues its own goals and does so using your money. Do you agree it's completely unfair towards you? What can you do? It's easy — don't use banks; use SPARTA!

    SPARTA sets absolutely no limitations!

    By using SPARTA, you're freed of all restrictions by default. SPARTA is a decentralized cryptocurrency with no supervisors or intermediaries. Anyone who wishes to do so may support system operations — all users have equal rights. No one can set limits for you or prevent you from using your funds the way you want to.

    This is one of SPARTA's key advantages — the total financial freedom with no restrictions. Use SPARTA and be free!

    Buy/Sell SPARTA https://sparta.top/exchange.html

    Subscribe to our accounts in the social networks and read our articles:

    Facebook — https://www.facebook.com/Sparta-Simple-Fast-Reliable-144359956205380/

    Twitter — https://twitter.com/SPARTA_core

    Telegram — https://t.me/SPARTAcore

    Instagram — https://www.instagram.com/sparta.top/
     
  20. SPARTA

    SPARTA Contributor

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    More About Our Association with the Ancient Sparta

    You must have heard of the ancient Greek state of Sparta that was described by Plato, the renowned philosopher. Sparta's state system was based on the equality of its full-fledged citizens.

    Spartans were not only strong and courageous — they were also united, fair and utterly devoted to their ideals. The latter three traits describe our ideology in the best possible way.

    SPARTA aims to build a new financial system — just and fair

    The SPARTA cryptocurrency, just like the state with the same name, attempts to create an ideal system of relations between people — in the financial sphere. However, changes in the financial industry will inevitable results in changes in other areas of public life — it's all interconnected.

    We want to change the existing financial system as we think it's obviously unfair. Today, it's ruled by central banks that have a sole purpose of making as much profit as they can. They only think about cashing in on others.

    SPARTA wants to right this injustice by making financial relations fair and transparent. By using SPARTA, you get rid of intermediaries and, consequently, of high fees.

    SPARTA is about equality and unity of all its members

    Like the ancient Spartans, SPARTA network users are equal in their rights and united. They are united by the goal of creating a new financial system — with no intermediaries, no secrecy, no fraud and no manipulations.

    Join SPARTA now and build new financial relations with us!

    Buy/Sell SPARTA https://sparta.top/exchange.html

    Subscribe to our accounts in the social networks and read our articles:

    Facebook — https://www.facebook.com/Sparta-Simple-Fast-Reliable-144359956205380/
    Twitter — https://twitter.com/SPARTA_core
    Telegram — https://t.me/SPARTAcore
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    Last edited: Jun 20, 2018

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