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.
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.
Bitcoin’s slow transaction speeds lead to network congestion, which then results in high transaction costs.
Since its launch in 2009, the Bitcoin blockchain has had numerous updates. So, why aren’t developers making it faster?
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:
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.
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.
Don’t forget, you can also stake your $HYPER to enjoy rewards at 78% APY.
Because of this, expect Bitcoin to maintain its status at the top of the crypto food chain for the foreseeable future.
Always do your own research before making any investment. This article is not financial advice.
