New Kid on the Block: Bitgert's Daring Claims Unmasked
Bitgert's BRISE token functions on the independent BRISE Chain, handling over 100,000 transactions per second at no gas fees. Despite some controversies, the BRISE token holds a market cap of $90.77 million and offers a broad utility set. Sounds promising, but let's check it!
Bitgert is an ecosystem built on the Binance Smart Chain. Lately, the brand has devised its own blockchain called BRISE Chain. Today, the network can process 100,000+ transactions per second without paying gas fees on the users' side.
The project is somewhat contentious, as it was suspiciously fostered by the FTX exchange, which later witnessed a large-scale collapse. During that period, Bitgert actively promoted its philosophy to attract large investors, highlighting its lightning-speed blockchain and zero-gas fees as key advantages.
BRISE Coin Utility
BRISE is a native Bitgert token backed by BEP-20 smart contracts. Over time, the platform switched to utilizing its own blockchain supported by the BRC20 standard, which continues to circulate among the broad masses of the crypto community today. BRISE use cases include staking rewards and additional bonuses for owning coins and providing liquidity.
BRISE token key indicators on Coinmarketcap as of June 27, 2023:
- Token name: BRISE
- BRISE price: $0.0000002302
- Technology: BRC20
- Fully diluted market cap: $229,411,381
- Market cap: $90,776,234
- Volume (24h): $2,225,065
- Total supply: 1,000,000,000,000,000 BRISE
- Circulating supply: 395,688,215,721,653 BRISE
BRISE operates on the buyback principle. In other words, Bitgert sends a 5% transaction fee to a unique pool to buy back the coin and maintain the proper price. Besides, 3% of transaction fees go towards managing marketing activities, while 4% is used to pay rewards for the staking program. A simple yet well-thought-out mechanism allowed Bitgert to turn BRISE into a hyperinflationary coin.
Bitgert Origin
The project came into being in July 2021 as a BSC-supported application. To this day, the names of the project's founders remain unknown. Many experts note that the team members listed on the official website have nothing to do with the real founders of the project or the development team. There is an opinion that the shots of the group were created by a neural network, which is quite normal for the founders of crypto projects who wish to keep their names secret.
Originally, the blockchain protocol went by the name of Bitrise. Nevertheless, in December 2002, it underwent a name change and became known as Bitgert. The rebranding procedure did not affect the protocol infrastructure or the intended development vector, even after transitioning to their own BRISE Chain.
How does it work?
The first thing to note is that BRISE Chain relies entirely on a well-formed proof-of-authority (PoA) architecture. Thus, the platform guarantees instantaneous transaction speeds and minimal commission payments.
More importantly, the network operates with support for smart contracts and is 100% compatible with the EVM (Ethereum Virtual Machine). As a result, the project supports an impressive range of tools running on Ethereum and countless decentralized applications (which may seem like a weighty argument for developers to migrate from Ethereum).
Top Bitgert Competitors
Currently, the protocol vies with 224 vibrant competitors. Meanwhile, Bitgert ranks sixty-sixth among them. Here are three of Bitgert's closest competitors:
- Innovative Payment Solutions
- Venmo
- Verses
Bitgert Funding
On April 16, 2023, Bitgert raised an impressive $10 million in a venture capital round. Meanwhile, the company is also actively investing in promising projects. For example, on May 12, 2023, Bitgert took part in the Seed Round for Parex Market by investing $6.5 million.
Bitgert Roadmap
Here is what the protocol roadmap for 2023-2025 looks like:
- Q3-Q4 2025: Decentralized VPN Node Participation Documentation | Decentralized VPN Node-Reward Program | Decentralized VPN MainNet Launch.
- Q2-Q3 2024: Decentralized VPN UI Wireframe | Decentralized VPN Nodes Setup | Web 3.0 Oracle MainNet Launch | Decentralized VPN Core Development | Decentralized VPN BETA Launch.
- Q1 2024: Layer 1 Blockchain Integrations On Web 3.0 Oracle | DeFi Integrations On Web 3.0 Oracle | Decentralized VPN Market Framework | Web 3.0 Oracle BETA Launch | Marketplace For Public Web 3.0 Oracle.
- Q3-Q4 2023: Web 3.0 Geo Data Map MainNet Launch | Decentralized Freelancer Core Files Development | Decentralized Freelancer BETA Launch | Web 3.0 Oracle Bitcoin and Ethereum Integration | Decentralized Freelancer MainNet Launch.
- Q2 2023: Web 3.0 Geo Data Map Core Files Development| Decentralized Freelancer Framework | Web 3.0 Geo Data Map BETA Launch | Decentralized Freelancer UI Wireframe | Web 3.0 Oracle Market Framework.
Bitgert Tokenomics Details
By launching Bitgert, the platform founders decided to distribute BRISE tokens as follows:
- 5.00% dev team
- 7.00% future development & marketing
- 38.00% liquidity
- 50.00% initial burn
A thoughtful distribution scheme that considers systematic buybacks allows the project to maintain the proper BRISE rate and payout staking rewards.
