Super Bitcoin is a proposed improvement of Bitcoin cryptocurrency. The development team behind the Super Bitcoin cryptocurrency describes the crypto as ‘an experiment, trying to implement promising solutions that the Bitcoin community has been proposing’. The Super Bitcoin crypto carries a ticker symbol of SBTC. It comes with smart contracts which are implemented with reference to Ethereum smart contracts. The development team of this crypto says that the original Ethereum smart contracts capabilities can be added to the crypto’s ecosystem at a small price. The unique thing about this crypto is that it can inherit the original good features which both Ethereum and Bitcoin boast of. In addition, further improvements can be added on to these features.
Understanding Super Bitcoin
Unlike Bitcoin, the maximum supply of Super Bitcoin is 210,000 SBTCs more. The 210,000 SBTCs will be pre-mined and shall be managed by the crypto foundation to encourage the early developers, invest ecological construction and also help operate the foundation.
Ideally, the goal of the team behind this crypto is to create a different version of Bitcoin which can support smart contracts. According to the dev team, Bitcoin has lost a lot of its market share to Ethereum over time mainly because Ethereum uses smart contracts while Bitcoin doesn’t. The smart contracts platform makes Ethereum the perfect platform for dApps. The team sees this as a solvable problem by creating a crypto which is basically Bitcoin but which adopts the great features of Ethereum.
It is not very clear how Super Bitcoin team plans to achieve its goals since it hasn’t published a whitepaper. However, according to the official website, the roadmap of the crypto started on 12th Dec 2017. At the end of February 2018, the company did ‘code refactoring’ which was supposed to be followed by the launch of ember smart contracts on March 31st. The ember contracts are supposed to improve the scalability of BTC. At the end of May 2018, the company plans to incorporate zero-knowledge proofs in the Super Bitcoin ecosystem.
What makes Super Bitcoin unique?
The cryptocurrency is supposed to merge the best of Ethereum and Bitcoin features. This way, people will be able to enjoy the smart contacts’ benefits and at the same time Bitcoin’s blockchain technology. Here are some of the key features of this crypto;
- It offers lighting network
- Zero knowledge of proof
- Smart contracts
- There will be bigger block sizes of 8MBs
In addition to the features, the team behind the crypto is well versed in blockchain technology and cryptocurrency market. There is LiXiao Lia who is a millionaire Bitcoin investor. There is Jia Peng Lin who is the founder of LinkVC and also co-founder of Sosobtc. And finally, there is Ranger Shi who is a Turing complete smart contract writer.
The performance of SBTC
Super Bitcoin can be said to be one of the many cryptos which started on an extreme high only to lose value at an alarming rate. On December 15th, 2017, the crypto was commanding a price of $415. It consistently lost value until January 11th when it went below the $100 mark. On Feb 6th when Bitcoin and other major cryptos drastically lost value, SBTC hit a low of $17 which was the first time it had gone below the $20 point. On March 30th, the crypto hit an all-time low of $6.6. In the days leading to April 23rd, SBTC has been gaining some ground. On April 22nd, the crypto hit a high of $14 and on Monday morning the price was edging towards $22. The SBTCs traded on Sunday, 22nd April were worth slightly more than $680,000. On Monday morning, April 23rd, the volume was hovering on the $1 million mark.
Is it a good crypto to invest in?
Super Bitcoin is very much like the many cryptos which have been launched and which seek to be the solution to all Bitcoin deficiencies. The website is a bit basic considering it aims to be a superior alternative to Ethereum and Bitcoin. Moreover, there is no whitepaper on which investors can base their investment decisions on. Once the whitepaper is made publicly available and the team offers more information on the crypto, maybe investors will be more interested in it. It could even become the crypto which transforms the whole industry. But for now, it remains ranked at number 1,333.