Takeaways:
- Bitcoin has a good long-term upside but could struggle from additional users
- Scalability is the key weakness of the Bitcoin network
- Bitcoin Hyper could solve this issue with a Solana-powered Layer-2
- The $HYPER presale could be about to hit $25M
Bitcoin is currently in a somewhat precarious position, and Bitcoin Hyper could be the boost it needs to restore the value of $BTC to early October levels. Check out how $HYPER is approaching a $25M presale ahead of the launch of Bitcoin Hyper.
Bitcoin is still recovering after the October 10 flash crash, currently trading at around $109K following early October highs of $126K. Although $BTC briefly rallied on October 21 to lift the price above $113K and turn positive for the month, this rally was short-lived.
While it appears that Bitcoin will be able to stay above the key psychological support level of $100K, this period of price activity should remind us that $BTC isn’t the perfect cryptocurrency. In fact, several major technological issues with the Bitcoin blockchain are likely to worsen over time.
Ultimately, we expect the number of Bitcoin users to grow as new traders buy the dip. While that’s positive for $BTC, it’s harmful to the underlying network. Bitcoin is much less capable of scaling with additional transactions compared to Solana or Ethereum, so new users will likely clog the network.
That results in slower clearing speeds and higher fees. To stay relevant in the growing Web3 sector, Bitcoin must keep pace with high-performance blockchains. That’s where Bitcoin Hyper ($HYPER) makes a difference with a Layer-2 solution for Bitcoin based on a Solana Virtual Machine (SVM).
The $HYPER presale is nearing $25M, so it’s the ideal time to check out why this crypto could be the next 1000x in 2025. Read on, and we’ll discuss exactly why $HYPER has become such a viral presale, as well as what Bitcoin Hyper could do for Bitcoin.
Could Bitcoin Be Faster?
There are some technical limitations of the Bitcoin network that prevent it from scaling the number of transactions it can process per second effectively. Transactions are added to the Bitcoin network when a miner records the block containing the transaction on the blockchain. Usually, that takes around ten minutes.
The problem is that only a limited number of transactions can be added to a single block, as it has a maximum file size. Therefore, the Bitcoin network can only process between 7 to 10 transactions per second (TPS). In comparison, the maximum theoretical TPS for Solana is around 65K.
Without delving into technical details, traders can pay higher transaction fees to miners to have their blocks prioritized for inclusion in the blockchain. This leads to a situation where, as the Bitcoin network slows down, it becomes a free-for-all where the highest bidder gets their transactions processed first.
If you’re not using the Bitcoin network for time-sensitive payments, you probably won’t care too much. Waiting an hour for a long-term investment to process isn’t an issue, but it definitely matters if you’re trying to pay a cashier in Bitcoin.
Ethereum’s chief developer, Vitalik Buterin, summarized the problem with Bitcoin’s approach by introducing the concept called the “Scalability Trilemma.” Essentially, you can choose between security and scalability when designing a decentralized blockchain. Security is vital for the trustworthiness of $BTC, so what’s the fix?
The answer could be Bitcoin Hyper. It utilizes the secure Bitcoin Layer-1 as a foundation for settling value and constructs a Layer-2 using Solana on top of it, which supports faster transactions, lower fees, and smart contracts. Let’s see how $HYPER could change the Bitcoin network.
How does $HYPER solve these issues?
Bitcoin Hyper’s Layer-2 utilizes an SVM to accelerate the clearing speed of Bitcoin by processing multiple transactions in parallel on a temporary ledger. These transactions are then periodically committed back to the Layer-1, locking in the $BTC trades that took place off-chain.
Processing these transactions on Layer-2 allows $BTC to be exchanged between wallets more quickly, avoiding the congestion on Layer-1 that drives transaction fees higher. Additionally, using an SVM offers the advantage of supporting DeFi apps, crypto swaps, and NFTs through smart contract functionality on Layer-2.
So, how do you transfer $BTC onto Layer-2? It all works using a Canonical Bridge. You just send your $BTC to the bridge wallet address, which stores your Bitcoin in custody and mints the same amount of wrapped $BTC for you on the Layer-1.
You can then use that $wBTC on dApps and crypto swaps on Layer-2 safely, knowing your $BTC continues to appreciate over the long term. If you want to cash out, simply make a withdrawal and burn the amount of $wBTC you wish to release.
Why is $HYPER Set to Rise?
While Bitcoin is currently underperforming, its long-term outlook appears solid. Investment bank Citi has just given Strategy a buy rating, stating that it’s essentially an amplification of Bitcoin’s performance. When Bitcoin wins, Strategy really wins, and Citi expects $BTC at $181K in twelve months.
Therefore, it’s reasonable to assume that Bitcoin will attract more users over the next few months. That’s going to slow the network down even further, pushing transaction fees through the roof and making a solution like Bitcoin Hyper essential for the long-term health of Bitcoin.
Since the $HYPER presale has already reached $24.6M and is steadily approaching $25M, many people will likely be watching Bitcoin Hyper when it launches. This makes sense, considering how much $HYPER will unlock on the Bitcoin Hyper network.
Developers will be able to restrict certain features exclusively to $HYPER holders. To maximize your experience with dApps on Bitcoin Hyper, you’ll need to hold your own stack. However, owning $HYPER benefits you—lower fees when running dApps or trading crypto, plus staking rewards.
If you’re interested in the future of the Bitcoin Hyper project, holding $HYPER also grants you access to the Bitcoin Hyper DAO, where you can vote on network proposals. However, you’ll need to act quickly if you want to buy $HYPER at a low price. It’s already priced at $0.013155 during the dynamic presale, and that price is only going to go up.
Visit the official site to buy Bitcoin Hyper today.
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Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/traders-pick-bitcoin-hyper-during-bitcoin-bull-run/