Bitcoin ($BTC) is the representative cryptocurrency, much like Xerox is to photocopiers and Google is to search engines. It’s not just the most popular cryptocurrency; it also has the largest market cap at $2.1T.
It’s no wonder, then, that institutional investors are rushing to claim a share of that huge Bitcoin market.
Strategy is currently the largest Bitcoin treasury, with 632,457 $BTC in its possession, accounting for around 3% of the total supply.
In other words, if you’re going to invest in crypto, Bitcoin is the one to buy.
The Bitcoin Blockchain: Secure But Slow and Inflexible
Although considered the world’s most valuable cryptocurrency, Bitcoin isn’t likely to win any awards for transaction speed.
Theoretically speaking, the Bitcoin blockchain can only handle up to seven transactions per second (TPS). However, it can typically handle less because of network congestion.
In comparison, Ethereum ($ETH) and Solana ($SOL) can potentially reach up to 119.1 TPS and 65K TPS, respectively.
Because of this, it can take days for the Bitcoin blockchain to confirm transactions. This causes congestion, which makes transactions costly.
Bitcoin is also known for its security, thanks to its simplified script. But this comes at the cost of its flexibility.
You can’t use Bitcoin for things like advanced smart contracts, dApps, DeFi protocols, and NFTs. This is unlike Ethereum and Solana, which are why they’re the go-to chains for meme coin developers.
Bitcoin Hyper: Taking Bitcoin to the Fast Lane
We can argue that tweaking Bitcoin’s code can make it faster and expand its utility. This is possible, but we’ll have to trade its robust security to achieve those goals.
Enter Bitcoin Hyper ($HYPER).
This project aims to develop a Bitcoin Layer 2, a protocol that will process transactions outside of the base Bitcoin blockchain to help speed them up. As this will be built on top of the Bitcoin blockchain, it will retain Bitcoin’s security.
You can think of the L2 as a fast lane on Bitcoin’s crowded highway. Using the L2, transactions will be much faster and cheaper than on the main blockchain.
Here’s a brief look at how the L2 will work:
- Deposit your $BTC to a Bitcoin address monitored by Bitcoin Hyper’s Canonical Bridge
- A Solana Virtual Machine (SVM) will verify the coin
- After verification, a Bitcoin of the same value will be minted on the L2
- This wrapped Bitcoin can be used on the L2 for various applications like staking, trading, and interacting with dApps; transactions will reach Solana-level speeds, thanks to the SVM
- The state of the L2 is constantly committed to the L1 to ensure everything is synchronized and secure
- If you want to withdraw your $BTC from the L2, simply create a withdrawal request
- Once validated, you’ll get your $BTC back to your Bitcoin address on L1
When launched, Bitcoin Hyper will be able to take $BTC to heights it has never reached before.
Join the Bitcoin Hyper Presale
The Bitcoin Hyper team is running a presale to make the Bitcoin Layer 2 a reality. To date, it has already raised a whopping $13.4M, making it one of the year’s best presales.
Helping boost the project fundraiser are two massive whale buys in the last 24 hours, one worth $19,224 and the other valued at $11,629.
For now, you can purchase tokens for $0.012845 and claim them once the presale concludes. However, when the L2 launches, your coins will help you unlock exclusive features and participate in DAO decisions. Of course, you’ll also be able to use it to pay for gas fees within Bitcoin Hyper.
To get $HYPER, visit the official Bitcoin Hyper website, connect your crypto wallet to the presale widget, enter the amount you want to buy, and pay with your credit/debit card or crypto. Our Bitcoin Hyper buying guide has more details on getting your hands on the token.
If you prefer to stake, you’ll be able to enjoy 81% p.a. rewards once you lock in your tokens. Remember that this can still change as more people stake the $HYPER they purchased.
Buy Bitcoin Hyper tokens today.
Bitcoin: Better Than Ever Before
When it comes to cryptocurrencies, Bitcoin is virtually untouchable. Valuable, secure, and popular, we don’t expect any other coin to unseat it from its throne anytime soon.
With projects like Bitcoin Hyper ($HYPER), the Bitcoin ecosystem can be faster, have cheaper transactions, and offer more flexibility than ever before. Things can only get better from the world’s biggest crypto from here.
Authored by Bogdan Patru, Bitcoinist — https://bitcoinist.com/whales-buy-30k-bitcoin-hyper-tokens