Bitgert is a controversial blockchain project that has been making multiple headlines during the FTX meltdown since it was drawing attention from several investors with its really bold claims of a free-to-use, high-speed blockchain.
Bitgert is a cryptocurrency engineering company that has built multiple blockchain-based products and that too across decentralized finance, the metaverse, and NFTs. This company claims its purpose is to actually innovate as well as solve problems with the help of blockchain technology to boost the quality of its users’ lives.
Inspite of difficult market conditions, current developments within the ecosystem as well as partnerships, have managed to draw attention to this project, but do Bitgert’s claims actually live up to the reality?
So, What Is Bitgert?
The Bitgert crypto exosystem is currently based on the BSC (Binance Smart Chain) – however, they have built their very own blockchain, which apparently claims to handle more than 100,00 transactions every second with no cost for each transaction.
As per Bitgert news, claims were made that its blockchain has actually processed more than four mullion transactions, with its ecosystem having a cumulative 350,000 users since its launch. Bitgert was initially launched in July 2021 as an app on BSC. Initially known as the Bitrise, the project’s native token came with a ticker called BRISE.
Bitrise was rebranded as Bitgert in 2021. This rebranding had no impact on the token and its ticker, while the platform kept operating on the BSC since then.
Bitgert launched its very own blockchain network in February 2022 with a novel PoA (Proof of Authority) validation mechanism. This brand new network is referred to Bitgert commonly as Brise Chain. The project is known for promoting itself as a platform accompanied by zero gas fees, as well as the ability to process 100,000 transactions every second.
If this claim is true, then it will make Bitgert’s blockchain one of the fastest, second to Aptos, which has the ability to do 160,000 transactions per second.
While the project claims to be a chain that has a ‘zero gas fee,’ some small transaction fees are also included in the use of blockchain. These fees, also called gas fees, are common fractions of a single cent per transaction, generally paid in the BRISE token.
The network is compatible with EVM (Ethereum Virtual Machine), enabling projects launched on Ethereum or even other such EVM chains – so that the project can moved across the network with minimum network.
What Is BRISE?
There are plenty of forums from where you can obtain Bitgert price predictions – but before that, let’s talk about Bitgert’s token BRISE.
BRISE is Bitgert Chain’s native cryptocurrency. Originally launched as a token on the BSC, back then, Bitgert was known as Bitrise, and it was a blockchain application.
Although the project continues to maintain an accurate token address on the BSC for BRISE, when Bitgert launched its very own blockchain, BRISE was simply issued as the network’s native cryptocurrency.
As per Bitgert coin news, the project has implemented a crazy buyback program in which it actually purchases the BSC-based BRISE tokens first before burning them. It seems like the project will replace the whole BSC-based BRISE supply eventually with the BRISE version that happens to be native to the Bitgert Chain!
BRISE can be utilized for both staking as well as paying a small gas fee on this particular Bitgert Chain. Plus, it can be used within dApps connected to the whole platform, like the Bitgert DEX, which is easily available for the swaps.
Staking BRISE happens to be possible on both the Bitgert Chain and BSC. Plus, stakeholders can easily earn BUSD rewards. However, it is not clear where the rewards for staking are coming from and whether the mechanism is going to be sustainable in the long run.
Doing transactions with the BRISE tokens takes place at an automatic tax of 12% which then goes back to the project.
Is Bitgert A Scam?
If you are wondering how to buy Bitgert or where to buy Bitgert, then stop. Before making any investment decisions, let’s talk about the legitimacy of Bitgert.
The project has been the subject of much controversy and speculation online, especially concerning its founder’s identities, the audits that it seemed to have undertones, its charitable announcements, and its decentralization.
The project offers near-zero fees as well as speeds of up to 100,000 transactions per second, which has raised red flags among investors and analysts. If the claimed abilities of the blockchain happen to be true, it brings up questions as to why it isn’t more popular among crypto enthusiasts.
Also, the project claims that the blockchain has solved the trilemma, which is that rising scalability typically affects security or decentralization. Likewise, increasing security or decentralization decreases scalability. The project actually claims to be secure and decentralized. However, there is no available information or even concrete proof of either.
If the chain had solved the trilemma truly, then they would have been practically the first to actually do so and would have garnered so much attention due to their smart technology.
Wrapping Up: Is Bitgert A Good Investment?
It is difficult to say whether or not Bitgert itself or the Bitgert coins (BRISE) is a scam or a good investment. BRISE has a very low price, sitting at a meager $0.0000002781 in May of this year. But at the same time, the maximum supply of the tokens actually sits at a quadrillion tokens, accompanied by a diluted valuation of 380 million dollars.
This indicates that for these tokens to double up, the project’s diluted valuation would require an increase of 380 million dollars.
Previously, the BRISE tokens had reached an all-time high price of about $0.00000184 – so any gain from its recent price is not completely out of the question. The project actually makes pretty good utilization of marketing, drawing in investors with its bold claims and low token price.
However, for any project with questionable legitimacy and limited users, the chances of it increasing substantially in terms of value are low.
Additional Reading:
- The Advantages of Verge: A Fast and Private Cryptocurrency with Low Fees
- Zcash: The Cryptocurrency with Complete Privacy and Selective Transparency
- Is Bitcoin A Good Investment? Exploring The Pros And Cons Of Cryptocurrency
- Unlocking The Potential: Discovering The Best Cryptocurrency To Invest In Today
