As the market for digital currencies moves through its ebbs and flows, new entrants like Bitgert coin have been catching the eye of the crypto crowd. Created in July 2021 and rebranded from BRISE in December of the same year, Bitgert positions itself as a pioneer of blockchain technology.
Role of Layer 1 Blockchains
Bitgert has taken advantage of this trend after getting a shout-out from big names such as Vitalik Buterin on the potential of Layer 1 blockchains over Layer 2 solutions. It is deployed on both Binance Smart Chain (BSC) and Ethereum Virtual Machine (EVM), which creates interesting opportunities for efficiency and scalability within blockchain technology.
Technological Framework
One thing that differentiates Bitgert from other cryptocurrencies is Bitgert’s use of Proof-of-Authority (PoA) consensus mechanism. This method is known for being more efficient and having lower transaction costs compared to Proof-of-Stake (PoS) or Proof-of-Work (PoW) systems. In PoA models, transactions and block verifications are done by pre-approved network validators thereby leading to quicker processing times with less energy consumed. However, with this concentration control comes security issues among traditionalists within blockchain communities who might question trust.
At present, BRC20 blockchain associated with Bitgert can handle considerable transactions where it claims up to 100k TPS. While these numbers may seem impressive, they should be seen practically against real-world performance backdrops if would-be users/investors are to make informed decisions about their viability.
Community & Market Reaction
Having supportive communities around them greatly helps platforms like these grow adoption rates for Bitgert technologies thus driving development efforts further. $0.0000001632 per BRISE.
Is there More to It Than Just Another Fad?
Although Bitgert has shown impressive growth rates since early this year, Bitgert still has to prove its mettle in an industry that is hard to crack. Staking mechanisms and utility provisions may set them apart from being mere trends, but as always with these things, fluctuating market conditions and technological advancements mean staying relevant won’t come easy for any cryptocurrency, including Bitgert.
Niðurstaða
Bitgert could potentially be used as a good example of how Layer 1 blockchains might revolutionize financial technology; nevertheless potential investors should approach cautiously, do their own research while keeping track both on technical aspects plus general market dynamics which may influence Bitgert’s future development. Like they say – don’t put all eggs into one basket especially when dealing with cryptos!
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Source: https://www.livebitcoinnews.com/the-power-plant-of-bitgert-coin-assessing-its-function-in-the-crypto-landscape/