Bitrock

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Discover Bitrock's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Bitrock?

Bitrock (BROCK) is a cryptocurrency built on an Ethereum IBFT 2.0 Proof of Authority (PoA) side chain, offering near-zero native gas fees and lightning-speed block times. It features a scalable, secure, and high-speed infrastructure, supporting a multichain DEX swap for direct trading of cryptocurrencies on their native chains without gas fees. The BROCK token has multiple use cases, including gas fees, staking, and investment opportunities, with a total supply of 100,000,000 and a 4% tax distribution on transactions.

How is Bitrock used?

Bitrock (BROCK) is a cryptocurrency that allows users to conduct peer-to-peer transactions in a secure and anonymous manner. It is built on blockchain technology, enabling secure, decentralized digital transactions and the issuance of new coins via the mining process.

How do I store Bitrock?

To store Bitrock (BROCK) tokens, it is recommended to use a cold wallet, which is a wallet that is not connected to the internet. This is the safest way to store your coins or tokens as it minimizes the risk of hacking and other security threats. There are two types of cold wallets:

  1. Paper Wallet: This is a simple and cost-effective option. You generate a public and private key offline using a program, then print them on a piece of paper. The keys are in the form of QR codes, which you can scan for future transactions. Store the paper securely to prevent unauthorized access.

  2. Hardware Cold Wallet: This is a physical device that stores your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person with the USB drive can access the assets. Hardware wallets are a popular choice, especially for storing large amounts of coins or tokens.

How to buy Bitrock?

To buy Bitrock (BROCK) tokens, follow these steps:

  1. Create an Account on an Exchange:

    • Choose a reliable exchange such as Coinbase, Binance, MXC, or BitMart.
    • Sign up by providing necessary information, including your email address and a secure password.
    • Complete any required identity verification steps.
  2. Choose a Funding Method:

    • Exchanges offer various payment methods, including:
      • Credit/Debit Card: Ideal for newcomers, supported by most exchanges.
      • Bank Deposit: Transfer fiat currency to the exchange using SWIFT.
      • P2P Trading: Buy directly from other users.
      • Third-Party Payments: Services like Simplex, Banxa, and Mercuryo.
  3. Buy Bitrock (BROCK):

  • Navigate to the "Buy & Sell" section and select "Buy."
  • Choose Bitrock (BROCK) as the cryptocurrency you want to purchase.
  • Select your preferred order type:
    • Market Order: Buy at the current rate.
    • Stop Order: Buy at a specified price.
    • Limit Order: Buy at a particular price or better.
    • TWAP Order: Breaks down large orders into smaller segments.
    • Reverse Order: Assume the contrary stance of an active position.
  1. Transfer BROCK to Your Wallet:
    • Once purchased, you can hold the tokens in your exchange account or transfer them to a personal cryptocurrency wallet like Metamask, which supports millions of assets and blockchains.

Additionally, you can also use decentralized exchanges (DEXs) like Uniswap by connecting your wallet and swapping to Bitrock using its smart contract address.

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History of Bitrock

Bitrock (BROCK) is an Ethereum sidechain IBFT 2.0 Proof of Authority (PoA) blockchain designed to provide near-zero native gas fees. It features a scalable, secure, and high-speed infrastructure, along with a unique multichain (DEX) swap that allows direct trading of cryptocurrencies on their native chains without the need for native tokens or gas fees.

Historically, Bitrock has experienced significant price fluctuations. As of July 2023, its all-time low was $0.003613. However, by March 2024, it reached an all-time high of $0.3071, indicating a substantial increase of 1789.44% over the year. The current market capitalization of Bitrock is around $6.30 million, with a daily trading volume of $496,205.

In terms of price predictions, various sources suggest that Bitrock could experience significant growth in the coming years. For instance, one prediction suggests that the price could reach $0.2122 in a year if it follows the growth trajectory of the mobile phone market between 1993 and 2013. Another prediction estimates that the price could rise to $0.214472 by July 18, 2024, representing a 226.86% increase. Long-term predictions suggest that the price could reach $40.20, $50.25, or even $60.30 by 2030, depending on market trends and adoption.

Overall, Bitrock's history reflects its potential for significant price movements, and its unique features make it an interesting investment opportunity in the cryptocurrency market.

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How Bitrock works

Bitrock (BROCK) is a cryptocurrency that operates on an Ethereum sidechain, specifically an IBFT 2.0 Proof of Authority (PoA) blockchain. This blockchain is designed to provide high-speed, cost-effective, and scalable infrastructure for transactions. Here are the key features and functionalities of Bitrock:

Network Infrastructure
  • Block Time: Bitrock boasts a remarkably fast block time of just one second, making it significantly faster than many other blockchain networks.
  • Gas Fees: The network offers near-zero gas fees, which are extremely low compared to other blockchain networks. This makes it an attractive option for users who want to minimize their transaction costs.
Tokenomics
  • Token Supply: The total supply of BROCK tokens is capped at 100,000,000.
  • Tax Mechanism: A 4% tax is applied to both buy and sell transactions. Of this tax, 1% is allocated to the protocol's liquidity, while the remaining 3% is used for further network development.
Use Cases
  • Gas Fees: BROCK tokens are used to pay for gas fees on the network, making them essential for the functioning of the ecosystem.
  • Staking: The network features a staking protocol, which helps maintain network security. Staking BROCK tokens can earn users an impressive 90% annual percentage yield (APY) with a relatively short lock-up period of seven days.
  • Investment: As with any other cryptocurrency, BROCK tokens can be invested in, offering potential returns for investors.
Multichain DEX
  • Native Multichain DEX: Bitrock is developing an innovative multichain DEX (swap) where users can trade cryptocurrencies directly on their native chains without needing to use DEX's native to those chains, hold native chain tokens, or pay gas fees in those native tokens. All gas fees are equalized from other chains and paid in BROCK.
Token Bridging
  • ERC-20 Version: The BROCK token has an ERC-20 version, known as BITROCK, which can be bridged to the native BROCK token on the Bitrock chain.

Overall, Bitrock aims to provide a fast, secure, and cost-effective blockchain solution with a robust ecosystem and multiple use cases for its native token, BROCK.

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Bitrock's strengths

The token Bitrock (BROCK) has several strengths that make it an attractive investment opportunity:

  1. Security and Anonymity: Bitrock allows users to conduct peer-to-peer transactions securely and anonymously, leveraging blockchain technology for decentralized digital transactions and coin issuance through mining.

  2. Scalability and Low Fees: As an Ethereum sidechain, Bitrock offers near-zero native gas fees, ensuring fast and cost-effective transactions. It also features a unique multichain DEX (Decentralized Exchange) where cryptocurrencies can be traded directly on their native chains without additional fees or token requirements.

  3. Staking and Rewards: The Bitrock network includes a staking protocol that rewards users with an impressive 90% annual percentage yield (APY) and has a flexible reward time with an emergency withdrawal tax of 25%.

  1. Investment Potential: Bitrock has shown significant price growth, with a 4,200% price rally within two weeks of its launch. This growth potential, combined with its utility and staking rewards, makes it an attractive investment opportunity.

  2. Technical Analysis Tools: Bitrock's price can be predicted using various methods such as Technical Analysis, which examines price and volume trends, and Fundamental Analysis, which considers external factors and the coin's intrinsic value. This helps investors make informed decisions.

These strengths contribute to Bitrock's appeal as a cryptocurrency with a robust ecosystem and promising investment prospects.

Bitrock's risks

Bitrock (BROCK) is considered a relatively high-risk investment. According to InvestorsObserver, the token's risk score indicates that it is susceptible to significant price manipulation due to limited trading and changes in volume and market capitalization. This volatility makes it challenging for investors to predict its future performance accurately.

Additionally, the cryptocurrency market is inherently unpredictable, and Bitrock's price can be influenced by various external factors such as changes in demand and supply, technological advancements, regulatory environments, and market news. These factors can lead to significant price fluctuations, making it crucial for potential investors to thoroughly research and consider their financial goals before investing in Bitrock.

It is essential to note that investing in any cryptocurrency carries risk, and Bitrock is no exception. Investors should be prepared for potential losses and should consult with a financial advisor before making any investment decisions.

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Bitrock’s team

  • The team behind Bitrock is highly competent, motivated, and dedicated to pushing the boundaries of Ethereum L2 solutions.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Bitrock NEWS REPORT

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