In the last few months, Bitrise, one of the fastest-growing crypto coins, has seen big moves. Staking is one of the biggest milestones for the project, and the crypto community is super excited.
Bitrise coin has been compared to giants in the crypto market like Solana and Cardano. Crypto investors are attracted to this coin due to the platform’s ecosystem, which has being likened to Solana and Cardano. The consensus protocol method, multiple products on the ecosystem, and investor rewarding programs are some of the major similarities.
In spite of Solana and Cardano being blockchain protocols and Bitrise being a Defi protocol, their whitepapers all mention the same problems. The issues of security, scalability, sustainability, and high transaction costs are what all of these ecosystems are working on to improve decentralized platforms.
Bitrise, Solana, and Cardano ecosystems are using the Proof-of-Stake protocol, which is one of the biggest solutions to the mentioned problem. The consensus mechanism uses validators to do two main things: build new blocks on the blockchain and verify all transactions on the blockchain.
With validators verifying all transactions, it is making it difficult for a few users or hackers to complete transactions on the blockchain system successfully. That’s how the issue of security has been addressed.
The PoS protocol is also playing a key role in addressing scalability issues on blockchain systems. The building of the new blockchain blocks by validators is done faster than the mining process, and this is how high speed is an issue is addressed. Solana has reached over 50,000 transactions per second, making it the fastest blockchain so far.
According to their websites, all these ecosystems will be hosting multiple products. Currently, Solana and Cardano have multiple products, including Web3, DeFi, and NFTs, running on their ecosystems. Bitrise has Audits, Techrate Audi, and the dApp wallet running. The exchange and the blockchain are in the development stage, according to the team.
All three ecosystems have also been designed to reward investors. From their tokenomics, these ecosystems have attractive rewards, which is why they have continued to grow popular with crypto investors. Bitrise coin has very appealing token holding and staking rewards.
Like Solana and Cardano, the Bitrise ecosystem provides investors with an opportunity to stake their BRISE tokens and get good returns from the revenue generated by the products on the ecosystem. The platform will be sharing 80% APY of the generated revenue among the staked tokens.
With the multiple products on the ecosystem, then this will be a huge amount, which is thousands are joining the coin. Solana and Cardano’s ecosystems are also giving attractive staking, and that is why they have remained popular.
Bitrise has announced the launch of the staking process by the end of November.
Originally published here
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
