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With the upcoming halving of Bitcoin on the horizon, the emergence of Bitgert coin, a promising new cryptocurrency, is eagerly anticipated. Bitgert aims to revolutionize the market standards with its enhanced speed and reduced transaction costs, garnering attention from enthusiasts and investors alike. Could this signal the dawn of a new era in the world of cryptocurrency?
Understanding Bitcoin Halving
Bitcoin halving is a programmed event that reduces the rewards miners receive for each block they successfully mine on the Bitcoin network. This event occurs approximately every four years, specifically after the completion of mining 210,000 blocks on the Bitcoin network. This process is an integral part of Bitcoin’s monetary policy, serving as a mechanism to control inflation gradually and introduce new Bitcoins into circulation.
In the early days of Bitcoin, the block reward stood at 50 Bitcoins. Following the first halving in 2012, the reward per block was halved to 25 bitcoins, and this process has continued periodically. The current block reward, post the most recent halving, is set at 6.25 bitcoins. This reduction directly impacts the rate of new Bitcoin creation and circulation. Once 21 million coins are generated, the halving will cease the production of Bitcoin entirely, aiming to emulate the scarcity and deflationary attributes associated with precious metals like gold.
The element of scarcity introduced by halving could potentially drive up the price of Bitcoin if the demand for the cryptocurrency remains consistent. Simultaneously, it incentivizes miners to continue securing the network by presenting them with increasingly challenging mining tasks, potentially leading to higher rewards as the value of Bitcoin appreciates.
Bitgert’s Innovative Ecosystem
Bitgert (BRISE) is a relatively new cryptocurrency project that was launched in July 2021, focusing on elevating the significance of blockchain products and centralized exchanges. Initially operating on the BNB Chain, Bitgert has transitioned to its own BRC20 blockchain, renowned for its rapid transaction speeds and minimal gas fees, reducing operational costs to $0.0000000000001 per transaction. The Bitgert ecosystem comprises the following components:
- Bitgert Chain
- Bitgert Exchange
- BRISE Swap
Powered by a DeFi protocol, Bitgert facilitates a multi-currency dApp wallet and offers staking rewards in BUSD. The native token, BRISE, serves as the primary currency for transactions within the platform. Through a buyback mechanism that utilizes 5% of transaction fees, Bitgert repurchases and burns tokens, enhancing their scarcity and intrinsic value.
Currently, Bitgert has a circulating supply of 396 trillion tokens, capped at a maximum of 1 quadrillion Bitgert tokens. The platform’s proof-of-staked authority consensus mechanism, coupled with rigorous smart contract audits, has bolstered the network’s resilience and attractiveness. These mechanisms, akin to Bitcoin’s halving process, have contributed to Bitgert’s performance and desirability.
In Conclusion
The implementation of buyback and burn protocols within Bitgert serves to diminish the token supply, thereby increasing its scarcity and potential value for token holders—reflecting the impact observed during halving events.
The article “Why Bitgert Coin Might Be the Next Major Cryptocurrency After Bitcoin Halving” was originally published on Blockonomi.
Disclaimer: This content is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other form of advice.
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