SPA = BTC0.00

About SPARTA

SPARTA is a new cryptocurrency created to improve financial relations among people. Our goal is to build decentralized financial relations without intermediaries. Honest and fair, SPARTA is the easiest and most convenient cryptocurrency for everyone.

Why “SPARTA”?

The name SPARTA is derived from the words “SPArk” and “TArget”. SPARTA is a new spark in the cryptocurrency world. We seek to represent progress, development and forward movement. We will create a spark by building new financial relations that are decentralized, honest, and fair.

SPARTA cryptocurrency is also named after the eponymous state in ancient Greece. Sparta exemplified the ideal state described by the philosopher Plato. We want to make SPARTA cryptocurrency as simple and clear as possible. Like the ancient Spartan city-state, SPARTA is striving to be ideal — in the world of cryptocurrencies.

What is cryptocurrency?

What is cryptocurrency? Why are we offering SPARTA?

Cryptocurrency is digital money based on cryptography, the science of data encryption. Unlike dollars, euros, or other fiat money, the issuance of cryptocurrency is not controlled by a state: it cannot be printed in random quantities by order of the government. All cryptocurrency holders have equal rights. These rights are backed by the holders themselves.

This is why governments, banks, and various companies cannot influence transactions inside the system, the exchange rate, etc. SPARTA is a completely decentralized network.

Cryptocurrency is based on the blockchain, a linked series of data. Every transaction is written to blocks that are inextricably linked. It is like a ledger that is available to everyone and cannot be altered. Accordingly, the authenticity of any payment can be easily verified, and cryptocurrency cannot be counterfeited or hacked.

SPARTA enjoys the best features of other cryptocurrencies and simultaneously offsets their disadvantages. Created to build new and completely decentralized financial relations, SPARTA is the most convenient and safest cryptocurrency available to everyone. Create a better world!

Cryptocurrency vs. banks

Convenient

Unlike bank transactions, cryptocurrency transactions are carried out 24 hours a day, seven days a week. You decide when, to whom and where to send your money.

Cost-effective transactions anywhere on the planet

Transaction fees are several times less than bank fees and do not depend on the amount of transfer or the location of the user. You transfer money to anyone from anywhere in the world with the minimum fee.

Fast transfers

Bank transfers take 3–5 working days on average. In most cases, the speed of transfers via SPARTA is one minute.

Protection against inflation

National currencies depreciate annually by 1–20% (sometimes more). SPARTA is backed by a limited number of units (about 9 billion tokens) and protected against inflation. Cryptocurrency has its own exchange rate that is regulated by the market.

Our Advantages

So, if you need to send a certain amount to a person in another country, you can do it quickly, without paying huge fees and filling out a bunch of documents.

You simply specify the wallet number, the amount of transfer and click the button, the recipient will get the coins in a minute. You can easily exchange SPARTA for fiat money (dollars, euro, yuan, etc.) at numerous cryptocurrency exchanges at any moment.

Forging (mining) and network security

Since cryptocurrency does not belong to any state, companies or banks, it is mined and its security is supported by users themselves through installation of the special software. The process of cryptocurrency mining and maintaining safe operation of the network is commonly referred to as mining, and those who are involved in this process are called miners.

SPARTA uses a Proof-of-Stake technology (PoS), so here this process is called PoS-mining, or forging. Mining and forging are essentially the same thing, however, mining requires powerful computer stations, while forging is not based on computing power, but on the user account balance.

To support the operation of the SPARTA network, participants install and run special software, thus receiving a chance to create a new block on 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.

Create a wallet

When a miner creates a block, he or she receives a reward. The reward consists of:

Fees on transactions within the block

An additional reward of SPA tokens for creating the block

The reward for forging depends on the number of coins in a user’s account:

If a miner has between 888 and 999,999 SPA (inclusive) in an account, he or she receives only the sum of the transaction fees

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

Thus, there are miners who support the network, and miners who also help the cryptocurrency growth by investing. Accordingly, such miners receive more profit. To avoid centralization, all miners whose balance is 1,000,000 SPA or more have an equal chance of creating a block.

Technical advantages of SPARTA

  • As mentioned above, SPARTA uses the Proof-of-Stake method. It means that its mining and maintaining the network security do not require supercomputers. Anyone on a basic computer can mine and use SPARTA.
  • Using SPARTA, you pay a minimum fee for transactions. The initial fee is 1 SPA token per transaction. Unlike other cryptocurrencies, the fee in SPARTA is dynamically variable to remain 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.
  • There are 888 transactions in 1 block.
  • The total number of SPA coins will be 8,888,888,888 (~9 billion).
  • Blocks are generated once every minute:
    • - 1 block per minute;
    • - 60 blocks per hour;
    • - 1,440 blocks per day;
    • - 10,080 blocks per week;
    • - 43,200 blocks per month;
    • - 525,600 blocks per year.
  • 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.

The reward for a block changes dynamically depending on the total number of blocks created (total elapsed time).

Period Number of blocks Number of coins Block Reward
Premine 0 888,888,888 -
1 500,000 4,000,000,000 8,000
2 500,000 2,000,000,000 4,000
3 500,000 1,000,000,000 2,000
4 500,000 500,000,000 1,000
5 500,000 250,000,000 500
6 500,000 125,000,000 250
7 500,000 62,500,000 125
8 500,000 62,500,000 125
Total 4,000,000 8,888,888,888 -

SPA will continue to be issued until at least 2025.

For more information about SPARTA, its technical characteristics and operating principle see our Whitepaper.