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Why You Should be Beware of BRISE?

24 Aug 2022 By: Anirudh Trivedi
Why You Should be Beware of BRISE?

Key Takeaways

  • BRISE token has surged by over 39% last week

  • Surpassing Solana, BRISE claims to be the fastest blockchain ever

  • BRISE is accused of having no dev teams, an unsustainable working model, and using shady marketing tactics

  • Claiming 80% APY, it looks nothing more than a trending pump and dump

With time, entering the crypto ecosystem and making your first investment has become easier than ever before. With a growing base of stakeholders in the crypto economy, the crypto platform’s impediments will only decline with time. However, with the evolution of an easier market entry, a rise in the number of blockchain scams is also being observed. 

Pumping a token with no intrinsic value only using marketing tactics and dumping the project after making a profit, has become a trend for crypto scammers. On the same lines, we are witnessing a pump in BRISE token that has been gaining market attention for not-so-good reasons. 

In the article ahead, we are going to explore the reasons behind the viable suspicion behind Bitgret’s BRISE Blockchain. We will also delve into the cautions and strategies that can help you to tackle such market uncertainties. So without further ado, let’s get started with the article to know why you should be cautious before investing in BRISE. 

What is BRISE?

BRISE is the name of a blockchain by Bitgret, a crypto engineering organization. Bitgret claims to have developed the fastest blockchain on the face of this earth without any external funding or any known development team. Fishy already? We know. BRISE aims to deliver the fastest blockchain services without costing anything (Zero transaction fees) to the user.  

Based on the dual-chain network, BRISE is functionally capable of the development of DApps, commuting assets, and conducting day-to-day trading. BRISE is posing itself as the new Solana killer by offering everything that Solana can but with a higher speed and lower cost. 

BRISE claims to have a blockchain transaction speed of over 100K transactions per second, crossing the present fastest blockchain Solana, having a speed of 65K transactions per second. BRISE also has EVM compatibility and can be interoperated with different blockchains. Checking all the tickboxes of an ideal blockchain, BRISE seems too good to be true. 

What are We Talking About BRISE?

BRISE, unlike any other blockchain project, has claimed to be the best in the market by offering all of its services for free. Their marketing team is ensuring that they are getting featured in different crypto news portals, creating a sudden buzz in the market. With the increasing word around the market, the value of its token has surged by 37% only in the last seven days. 

When the project is expected to cross its peak, BRISE has also decided to Airdrop its tokens worth over $5 million USD to the Binance community. The sheer hype which is being created around the project is raising the eyebrows of market experts, experienced traders, and the crypto community. Apart from the buzz, there are different loopholes in the project which BRISE teams have not addressed yet. 

With a market of over $300 million USD, BRISE has already gained access to the most popular exchanges and that is why it has become important to discuss the reasons why you should be beware of the BRISE blockchain. 

Why BRISE is Raising Suspicions?

After going through their official website, trusted crypto sources, and multiple user reviews here is a list of things that simply cannot be ignored about the BRISE blockchain. 

Hidden Transaction Fee

Do you know the difference between our world and the heavens? Heavens do not have gas fees. Exactly, this is how difficult it is to run a blockchain network without charging any of the stakeholders. Contrary to this fact, BRISE claims to charge nothing when it comes to gas fees, however, things are not as rosy as they are claimed. 

A transaction fee of around 12% is being charged from the BRISE user, every time they buy, sell, or transfer their BRISE tokens. Out of this 12%, more than 3% of the fee earned by the network is going for marketing the channel through different means. The hidden transaction fee in the BRISE is not only a credibility crisis for the project but also an impractical number to migrate to. 

Shady Marketing

From copying the developer guides from Binance to self-auditing their blockchain security, the BRISE marketing team has left multiple loopholes to navigate through their credibility. With paid media articles and fake social media following, BRISE is trying to pose itself as the next big hit in the blockchain world. However, their entire value proposition is based on giving their services for free. With no genuine method of generating revenues, BRISE is leading a self-contrary marketing campaign. 

The BRISE marketing campaign might be a short-term success, creating some market hype, but it would not be able to survive the test of time with these measures.  

Extra Ordinary Claims

BRISE claims to have a transaction of over 100K transactions per second which is second to none in the entire blockchain world. Creating a blockchain that is not only the fastest but also the cheapest, without having a solid development team sounds nothing more than pretentious clickbait.

According to some sources, Bitgret is a client of Vindex, a leading blockchain development provider. This report raises some serious questions about the credibility of the entire Bitgret project. 

Untraceable Development Team

The credibility and trust in a project are developed over time. Nevertheless, one can judge the grade of the product by taking a look at the people who are building it. Devs are not only at the core of building a blockchain but also add to the overall credibility of the project. However, things have been different for BRISE. During the initial phase of BRISE, they were spotted with a team page made up of AI-generated identities, taken down later on. 

A pseudo-anonymous name, Gert Sanem is presently being used by the BRISE, disclosing their identities completely. 

Impractical Tokenomics

Most crypto investors have entered the market to make a better return on their investments. However, a lack of understanding in the crypto domain might attract the masses to invest in fundamentally hollow projects such as BRISE. 

Bitgret has guaranteed its stakeholders an annual return of at least 80% which is too big of a commitment to make when the entire project is struggling to find its true identity. Some of the users who have staked their money in the BRISE by trusting their claims have also reported losing a chunk of it. With unsustainable tokenomics, BRISE is not transmitting the right signals that can be trusted by market experts.

Should You Invest in BRISE?

Trading and investing could narrow down to personal reasons while investing in newer projects. When you know the founder, you understand the level of risk you can put on the project and that person. However, when you do not know anything about the project, putting your money into a shady project is no better than a gamble. 

Projects such as BRISE are not only lucrative but also easier to invest in. The lack of trusted teams, centralized mode of functioning, and promises of extraordinary returns are clear red flags for the investors. Right now, BRISE is pumping like nothing and the returns of 39% in a single week are way too lucrative to ignore, however, understanding the project before investing will give you your reasons to either invest or not.

The Way Ahead

BRISE is clear about competing with ETH when it comes to speed, reliability, and userbase. On the other hand, BRISE is also challenging the authority of Solana in the NFTs. With a claim of the fastest speeds and no transaction cost involved, BRISE might sound like an attractive deal, however, bogus marketing tactics, hidden transaction costs, and unsustainable tokenomics make it resemble a Ponzi scheme. 

Presently, the market is bullish on BRISE but no one knows when will they pull the rug. If investing blindly is not your investment strategy, we request you to beware of BRISE big time.