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Bitcoin could be about to join Ethereum and Solana as a truly Web3 cryptocurrency. This is thanks to a network upgrade that allows Bitcoin to run smart contracts.
BRC-2.0 is an update designed to allow blockchain developers to create smart contracts that work similarly to Ethereum, but this time, directly on the Bitcoin network.
However, in a comment for The Defiant, Leo Fan, co-founder of Cysic, said, “The real test will be whether developers can deliver meaningful applications that justify the added complexity in a network where scalability and culture remain difficult hurdles.”
That’s the real issue with Bitcoin. It’s slow. Bitcoin still processes blocks roughly every 10 minutes, and even after BRC-2.0, its consensus mechanism remains unchanged.
Bitcoin’s slowness is often misunderstood as a flaw, but it’s actually a deliberate design choice that reinforces its security, decentralization, and resilience
And, as much as we’d like to see a thriving dApp ecosystem on the Bitcoin Layer 1, it’s unclear if the Bitcoin network will be able to keep up with the increased demand posed by smart contract capabilities.
That’s why we’ve identified three cryptocurrency projects with different approaches to tackling the Bitcoin problem, including one that brings smart contracts to Bitcoin without stressing the underlying infrastructure. Read on to find out why Bitcoin Hyper ($HYPER), Snorter Bot ($SNORT), and Solana ($SOL) are among the best cryptos to buy right now.
1. Bitcoin Hyper ($HYPER) – Solana-based Capabilities Supercharge Bitcoin’s Scalability.
Bitcoin Hyper ($HYPER) addresses several key issues holding the Bitcoin network back from realizing its full potential. While Bitcoin has outperformed every other cryptocurrency as a store-of-value, it’s slow to transact with and relatively expensive in terms of fees.
Although BRC-2.0 looks to solve Bitcoin’s lack of smart contract capabilities, scalability issues require a comprehensive rethink of how the Bitcoin network does its job. In fact, BRC-2.0 could potentially exacerbate the existing problems with Bitcoin.
That’s why Bitcoin Hyper is adding a Solana Virtual Machine (SVM) to Bitcoin via a Layer-2 with zK rollups. Thanks to the SVM, Bitcoin Hyper can offer cheaper, faster transactions while offering high-speed smart contracts.
The idea behind Bitcoin Hyper is simple. You onramp your $BTC by sending it to a Canonical Bridge address monitored by the Bitcoin Hyper project. In return, an equivalent amount of wrapped $BTC is minted and deposited in your account on the Layer-2.
Once you’ve received your $wBTC, you can use it to access dApps for DeFi functions, swap crypto pairs, and trade NFTs with the same clearing time you’d get on the Solana network.
If you want to withdraw your $BTC back to Bitcoin’s Layer-1, deposit your $wBTC and the process works in reverse.
It’s $HYPER that powers Bitcoin Hyper. Holding it means you’ll get lower transaction fees when you trade crypto or interact with dApps on Bitcoin Hyper. You’ll also get the right to participate in the DAO and steer the project’s future.
Don’t delay if you want to buy into $HYPER. While it’s still on presale, it’s already raised an incredible $13.6M in token reservations, pushing the price up to $0.012845. It’s a dynamic presale, so prices will only increase over time.
The same goes for staking rewards – currently, you can earn up to 80% in returns per annum if you act now.
Get your $HYPER tokens today for $0.012845, before the next price increase in a couple hours .
2. Snorter ($SNORT) – Sniff Out Promising Tokens with this Telegram-Based Trading Bot.
Snorter Token ($SNORT) is the presale token that powers Snorter Bot, a high-speed, meme-fueled crypto trading bot built for the Solana ecosystem, designed to help you snipe, swap, and manage tokens directly through Telegram.
Snorter automatically sorts through upcoming altcoins and picks out the best ones for you to trade. Each coin is scanned by a proprietary honeypot analysis tool for rugpull indicators (with an 85% success rate in testing), helping you choose legitimate coins to invest in.
You can set your buy and sell orders through an easy-to-use Telegram interface. You no longer have to leave the app to hunt for new coins. Set your parameters, and Snorter takes care of the rest for you.
On launch, Snorter will be able to trade tokens on the Solana network. There’s post-release support planned for Ethereum, BNB, Polygon, and Base, too.
It’s quite likely that the Snorter devs are also eyeing the news of BRC-2.0 with interest. Might they support Bitcoin-based tokens in the future?
The $SNORT presale is already live, having raised nearly $3.7M in token sales. Early access means higher presale gains, staking rewards, and holder benefits like the lowest fees on Solana and exclusive access to new tokens.
Join the Snorter Token presale today for only $0.1033 and lock in staking rewards of up to 125% per annum.
3. Solana ($SOL) – Blazing Fast Processing Speed for High Volume Smart Contracts.
Solana is a high-performance blockchain that handles thousands of transactions per second.
It combines Proof-of-Stake with a unique consensus mechanism known as Proof-of-History to create a time-sensitive historical blockchain. Used in tandem with parallel transaction processing, Solana is able to handle over 65K transactions per second. Test runs have pushed this number even higher, breaking 100K TPS.
As a result, Solana has become the backbone of a thriving ecosystem of decentralized applications ranging from DeFi apps to meme coin launchpads and coin swap platforms. The Solana token ecosystem is valued at $275B. $SOL is currently trading at $211, up an impressive 56.8% over the last year.
You can purchase $SOL through any major CEX or DEX.
How Would Smart Contracts Change Bitcoin?
On the one hand, Bitcoin with smart contracts on the Layer 1 could pave the way for an entire DeFi ecosystem based entirely around $BTC, cementing its place as the dominant cryptocurrency for a long time to come.
However, much of Bitcoin’s attraction is as “digital gold”. Investors don’t buy into $BTC because of utility, they buy in because it’s a good store of value. Increasing the demand on the Bitcoin network could create huge problems with scalability, reducing its attractiveness as an investment.
Bitcoin Hyper ($HYPER) is a solution that combines the best of both worlds, bridging the value of $BTC with the utility of smart blockchains, without putting extra strain on the Layer-1. Even as BRC-2.0 comes into effect, we expect the value of Bitcoin Hyper to become self-evident once the platform releases.
All crypto products are volatile. Be sure to always do your own research before investing – and only invest what you’re prepared to lose. This article is not financial advice.
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