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Bitcoin ($BTC) is the king of the hill in the cryptocurrency market. In fact, even people who don’t know anything about crypto will have likely heard of Bitcoin.
It’s not at all surprising considering it is the first successful – and the world’s most valuable – crypto.
In particular, interest from institutional investors has pushed the coin’s value to stratospheric heights. When it comes to corporate Bitcoin treasuries, Michael Saylor’s Strategy is light years away from its competition with its stash of 636,505 $BTC.
Source: Strategy
With all eyes – retail and institutional alike – on $BTC, it’s little wonder that a new meme coin, with plans to build a much-needed Bitcoin Layer-2, is in the midst of a booming presale. Bitcoin Hyper ($HYPER) is rapidly closing in on the $14M mark, and if all goes according to plan, it could well be the next crypto to 1000x.
Bitcoin: Security at the Cost of Speed and Flexibility
By design, Bitcoin is one of the most secure cryptocurrencies out there, thanks to its simplified script.
The downside here is that it lacks flexibility, meaning you can’t use it for more advanced applications, such as smart contracts, dApps, DeFi protocols, and NFTs.
In comparison, blockchains like Ethereum and Solana can handle these use cases, making them the ideal platforms for meme coin developers.
There’s also the issue with Bitcoin’s transaction speeds. It can only handle a theoretical max of seven transactions per second (TPS) versus Ethereum’s 119.1 TPS and Solana’s 65K TPS.
Source: Chainspect
Bitcoin’s slow transaction speeds lead to network congestion, which then results in high transaction costs.
Bitcoin Hyper: Securely Sending Bitcoin to Hyperspace
Since its launch in 2009, the Bitcoin blockchain has had numerous updates. So, why aren’t developers making it faster?
The reason is that it would come at the cost of its security. The good news is that Bitcoin Hyper ($HYPER) has a solution to ensure faster transactions and make $BTC extra flexible, while retaining its high security.
To do this, the Hyper team will create a Bitcoin Layer-2, which will process transactions outside the main Bitcoin Layer-1.
When launched, Bitcoin Hyper will work like this:
- First, deposit your $BTC to an address monitored by the Hyper’s Canonical Bridge
- Next, the Solana Virtual Machine (SVM) will verify your coin
- Once verified, a wrapped version of the $BTC with the same amount will be minted on Hyper’s Layer-2
- You’ll be able to use your wrapped $BTC for various applications, such as staking and interacting with dApps
- If you want to withdraw your $BTC, simply create a request. Once validated, it’ll be sent back to your Bitcoin wallet address on the Layer-1.
Every transaction on the Layer-2 will be faster and cheaper than on the Layer-1 since it will be on an SVM. Meanwhile, the state of the Layer-2 is constantly committed to the Layer-1 to ensure that everything is synchronized and secure.
$HYPER Tokens: Powering the Bitcoin Hyper Project
When the Layer-2 launches, you’ll need Bitcoin Hyper’s $HYPER token to pay for gas and other transaction fees.
Holding this token also offers other perks, like access to exclusive features and the ability to vote on key decisions on the project.
For now, you can buy $HYPER tokens at the official Bitcoin Hyper presale website. Each one costs $0.012865, but a price increase is due in less than two days, so it’s always best to act as quickly as you can.
Don’t forget, you can also stake your $HYPER to enjoy rewards at 78% APY.
Because of the project’s promise to make the Bitcoin ecosystem faster and more flexible, Bitcoin Hyper has gotten a lot of attention from investors. And that includes recent whale buys of $161.3K and $100.6K. To date, the presale has raised close to $14M, giving it the most potential to be the next crypto to 1000x.
Ready to invest in this revolutionary Layer-2? Join the Bitcoin Hyper presale today.
Things Will Only Get Better for Bitcoin
As the crypto market becomes more mature, there’s plenty of room for growth for Bitcoin. And thanks to projects such as Bitcoin Hyper ($HYPER), the world’s biggest cryptocurrency can only become more valuable and useful.
Because of this, expect Bitcoin to maintain its status at the top of the crypto food chain for the foreseeable future.
Authored by Bogdan Patru, Bitcoinist — https://bitcoinist.com/bitcoin-hyper-presale-nears-14m-next-crypto-to-1000x/
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