Bitgert (BRISE) Chain And All What You Need To Know About This Crypto Platform

Among the myriad blockchain projects launched over the past few years, Bitgert (BRISE) is certainly an attention magnet, due to its bold claims of zero fees and excellent scalability as well as some controversy surrounding the project. In this article, we take a closer look at a blockchain and cryptocurrency that either seems poised to challenge the dominant market players — or harbors the possibility of being a money-sucking fraud.

What Is Bitgert (BRISE) Chain?

Bitgert (BRISE) is a crypto platform that aims to provide an affordable and highly scalable environment for projects of various kinds — e.g., NFT, metaverse, web3 and decentralized finance (DeFi). Bitgert was originally launched as an app on BNB Chain in July 2021. Initially, the project was called Bitrise, with its native token bearing the ticker BRISE. In December 2021, Bitrise rebranded to Bitgert. The rebranding didn’t affect the token or its ticker, and the platform’s operations remain on BNB Chain.

In February 2022, Bitgert launched its own blockchain network, which utilizes a proof of authority (PoA) validation mechanism. The new network is commonly referred to as Bitgert Chain or Brise Chain. Bitgert Chain advertises itself as a platform with zero gas fees and the technical capacity to process up to 100,000 transactions per second (TPS). This places Bitgert close to the top of the rankings by speed among blockchains. Indeed, among the currently operational chains, only Aptos features a faster maximum TPS.

Top Blockchains by Maximum Transactions per Second (TPS) Capacity

✕

Although Bitgert promotes itself as a “zero gas fee” chain, in reality, there are some, albeit tiny, transaction fees involved in using the blockchain. Typical gas fees on Bitgert Chain are small fractions of a cent.

Bitgert supports smart contracts and is an Ethereum virtual machine (EVM) compatible chain, which ensures a great level of interoperability with the world’s largest smart contract platform — the Ethereum blockchain.

What Is BRISE?

BRISE is Bitgert Chain’s native cryptocurrency. Originally, BRISE was launched as a token on BNB Chain when Bitgert, then known as Bitrise, was an app based on that chain. The project still maintains an address on BNB Chain for the token.

When Bitgert Chain was launched, BRISE was issued on it as the chain’s native crypto coin. Bitgert has initiated a buyback mechanism under which it buys the BNB BRISE tokens and burns them. BNB Chain charges 12% for each token sale. The buyback program is likely driven by the project team’s intent to eventually replace the entire supply of the BNB-based BRISE with the BRISE natively issued on Bitgert Chain.

BRISE’s main uses include staking and payment of Bitgert’s minuscule gas fees. It may also be used within decentralized apps (DApps) linked to the platform. For example, Bitgert’s own decentralized exchange (DEX) uses BRISE as one of the cryptos available for swaps.

Staking BRISE is possible via BNB Chain and Bitgert Chain. In both cases, you can earn BUSD rewards for staking your BRISE. Staking is available for fixed periods of 30, 60, 90 and 180 days. The longer your stake, the higher the annual percentage yield (APY) rate you earn. The current APY rates (as of November 19, 2022) are shown below.

BRISE Staking APY Rates

While the principal staked amount is locked for the selected staking period, accrued interest rewards may be harvested at any time. A great feature of the platform’s staking rules is the absence of any minimum staking requirements, i.e., you may start staking with the smallest of amounts.

BRISE has a max supply of 1,000,000,000,000,000 (1 quadrillion). This gargantuan supply number does sound extreme, though it should be noted that as of November 24, 2022, BRISE is worth only $0.00000032 per unit, giving it a market cap of around $127.86 million.

BRISE’s supply distribution shares have been specified by the project team as follows:

• 50% — Initial Burn
• 38% — Liquidity
• 7% — Future Development and Marketing
• 5% — Developer Team

Bitgert’s recommended wallet is Nabox, a multi-chain wallet featuring support for a large number of blockchain platforms. Meanwhile, Brise Wallet, the native wallet developed by the Bitgert project team, has fully transitioned to Nabox since November 12, 2022.

Bitgert Key Features

Since its launch as a fully-fledged blockchain, the Bitgert project has added a limited number of features, services and apps to expand its operations.

Among the platform’s key offerings is Bitgert Startup Studio, a project designed to help promising crypto startups raise investor capital on Bitgert through smart contract–driven token sales.

The DEX on Bitgert may also be used for token swaps, with ten cryptos — BRISE, BNB and another eight tokens based on BNB Chain — currently supported.

Bitgert Chain is still a small blockchain with a rudimentary ecosystem. In order to link the Bitgert ecosystem with other larger blockchain environments, the project team is in the process of developing their own bridging app. In the meantime, platform users are advised to use the following bridges that support BRISE: Multichain Bridge, IcecreamSwap Bridge and Sphynx Bridge.

Bitgert: Potential Red Flags

The claims of (near) zero fees and speeds of up to 100,000 TPS were bound to attract the attention of blockchain analysts and investors. At the end of the day, with such stellar parameters, Bitgert is destined to become a leading blockchain network, isn’t it?

Unfortunately, some of the project’s characteristics unambiguously raise red flags. There’s a great deal of online controversy and speculation concerning Bitgert at the moment, primarily related to the Bitgert founders’ identities, audits on the platform, and charity announcements made by the project team.

Bitgert Founders

More than a year after the project’s birth on BNB — and nine months after the launch of Bitgert Chain — we still don’t know the true identities of Bitgert’s founders. There’s been speculation in some online sources that the team behind the project uses Artificial Intelligence (AI) software to fake their identities.

Bitgert’s website previously featured an Our Team page, with names that couldn’t be cross-referenced on LinkedIn. The page has now been removed from the website. Amid the controversy, the person(s) behind Bitgert have stubbornly refused to reveal their identities, despite this point being one of the most damaging issues for the project’s reputation and brand image. The founder(s) still regularly appear in the project’s online communications and various publications, and are referred to as “the Bitgert founder.”

Bitgert Audits

Another controversial point involves Bitgert’s platform audits. Audits have become a commonly used tool in the crypto industry to ascertain a blockchain platform’s transparency, and to rule out any malicious code in its smart contracts. Bitgert did conduct an audit, and has widely promoted its 98% achieved score. However, it quickly became obvious that the audit was carried out by the Bitgert team themselves. This raised further suspicion about the platform’s operations.

Bitgert Charity

In addition to the disquieting controversies above, Bitgert has also claimed plans to contribute to an unspecified charitable cause. However, neither the actual charity involved nor any other specific details have been released by the project.

BRISE Cryptocurrency and On-Chain Services

Another vague point in the project’s communication material relates to BRISE and the on-chain services offered on Bitgert Chain. Most of the functionality promoted by the platform, e.g., staking and token swaps, seems to be based on the BNB blockchain. It remains unclear to what degree Bitgert Chain’s apps make use of the actual Bitgert Chain and its native crypto coin.

Some online observers have opined that the platform’s widely promoted own chain and crypto coin remain virtually unused, with nearly all of the promoted functionality being based on BNB Chain and the BNB-based BRISE token. For instance, the leading crypto data portals (such as CoinGecko.com and CoinMarketCap.com) only have details such as prices, supply numbers and contract addresses for the BRISE token on BNB Chain, while data on the Bitgert Chain’s BRISE coin is markedly absent.

Bitgert Price Prediction

The BRISE token was launched in July 2021 at a minuscule price point of around $0.000000008 (that is, $8 for one billion BRISE). The token’s price experienced few changes until October 2021, when it began to rapidly rise, eventually climbing to an all-time high of $0.00000184 ($1,840 per one billion BRISE) in early March 2022.

Within the period covering this rise, in February 2022 Bitgert announced the launch of its own chain and crypto coin. However, leading price tracking portals have yet to add Bitgert Chain’s BRISE coin to their websites.

By mid-June 2022, the BRISE token’s value had declined to $0.00000029 ($290 per one billion BRISE), remaining relatively stable until August. As Bitgert celebrated six months since the launch of its own blockchain, details about the controversies surrounding the project started to attract wider public attention.

Against the backdrop of increasing online notoriety, Bitgert doubled down on its marketing and promotional activities to project an image of a legitimate crypto with great potential. It seems that these efforts did have a considerably positive effect on BRISE, with the token’s price rising to $0.0000012 ($1,200 per one billion BRISE) by the end of August. This spike was short-lived, however, with BRISE’s price trending downward from early September. As of November 24, 2022, the token trades at $0.00000032 ($320 per one billion BRISE), and is still trending down.

Despite the controversies surrounding the project, Brise price predictions on the leading crypto forecasting portals points to moderate long-term growth for the token. DigitalCoinPrice.com expects BRISE to reach $0.00000127 by 2025 and $0.00000455 by 2030. Meanwhile, PricePrediction forecasts that BRISE will grow to $0.00000115 by 2025 and $0.00000708 by 2030.

Final Thoughts

If Bitgert is a legitimate project, its near-zero transaction fees and outstanding TPS capacity might help it to eventually challenge the leading blockchains in the industry. However, there remains too much controversy and suspicion linked to it. For now, the BRISE token seems to have weathered this controversy well with the recent spikes. However, these were of a very short-term nature.

Some observers believe that the spikes might have been the beginning stage of the notorious pump and dump cycle typical of so many failed cryptocurrencies. Ultimately, your appetite for risk — and possibly thrill — will determine if the BRISE token, the current king of controversy, is worth your attention.

 

Source: What Is Bitgert: Next Big Thing, or a Scam? | Bybit Learn