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About Bitteam token
-
Launch Year:
2016 -
Founders:
Anatoliy Berdnikov (CEO) and Dmitriy Stepanov (CTO) -
BTT Token:
Based on Decimalchain, used for loyalty points, and has token burning functionality -
Token Burning:
39,000,000 BTT tokens burnt as of 2022, with a goal to burn 20% of token profit quarterly -
Circulating Supply:
168,137,036 BTT tokens as of September 2021, out of a maximum supply of 460,999,953.871
Introducing the Bitteam Token: Empowering a New Era of Innovation
What Is BIT.TEAM? Launched in 2016, BIT.TEAM is a cutting-edge, user-friendly exchange platform that seamlessly integrates peer-to-peer (P2P) functionality. BIT.TEAM’s mission is to democratize access to cryptocurrency, making it easily accessible to the masses and providing estimated trade prices. The inspiration behind the name BIT.TEAM lies in the concept of a collective, where each individual is a fundamental unit, akin to a single bit of information. As these individual “bits” come together, they form a cohesive whole, empowering our community to build a better world, collectively.
BTT is a token within the BIT.TEAM ecosystem, built upon the Decimalchain framework.
Beyond its blockchain infrastructure, Decimal has established a comprehensive ecosystem,
offering a diverse range of functionalities to its users. The Decimal network comprises
the main network, Decimalchain, the native coin, DEL, the del.network launchpad,
Decimal Wallet, the co-operative BIT.TEAM exchange, and custom tokens, all harnessing
the capabilities of blockchain technology to deliver all-in-one solutions globally.
DEL and BTT are essential components, integral to the seamless operation of numerous
Decimal sub-projects.
Meet the Visionary Behind BTT: Anatoliy Berdnikov, the founder and CEO of BIT.TEAM, embarked on his entrepreneurial journey in 2016, laying the foundation for the company.
Well in advance of the exchange’s launch, Anatoliy had been diligently exploring the vast expanse of blockchain technology, putting his burgeoning knowledge into practice.
Dmitriy Stepanov is the co-founder and Chief Technical Officer at BIT.TEAM, as well as the visionary creator and co-founder of the esteemed platform, coinmarketrate.com.
What Sets BTT Apart? BIT.TEAM’s distinctive token, BTT, stands out within the BIT.TEAM ecosystem, boasting a diverse array of benefits that empower users with a multitude of possibilities and opportunities.
One of the most significant competitive advantages lies in the ability to utilize BTT as a loyalty point. Having evolved from a humble crypto exchange founded in 2016, BIT.TEAM has since diversified its offerings, boasting an extensive array of services and trading pairs. As stated on the company’s website, its mission is to empower individuals to seamlessly execute buy and sell operations with the most popular cryptocurrencies at prevailing market prices.
Following the launch of BTT, the exchange has witnessed a significant surge in investor interest in the coin, as well as its integration into daily practices. Notably, users can leverage BTT to “purchase” various privileges, such as discounted transaction fees, access to the Boost feature, and the ability to modify their usernames.
Thanks to its foundation on Decimalchain, BTT can seamlessly facilitate cross-chain transactions, even extending to the Ethereum network. As utilization increased, so did the issuance. Consequently, the token burning functionality was triggered.
In the realm of cryptocurrency, a coin burn refers to a deliberate and permanent removal of coins from circulation, thereby inducing a deflationary effect. This mechanism is commonly employed by various cryptocurrency projects, including BIT.TEAM, to periodically eliminate coins and, in turn, sustain the value of their digital asset.
In the case of BIT.TEAM, the cryptocurrency exchange initiated its token burn program in 2022, having already eliminated a substantial 39,000,000 BTT tokens through its quarterly burn mechanism to date. The exchange has pledged to destroy 20% of its token-based profits, which it achieves through its regular quarterly burns.
The burning of BTT tokens results in a reduction of the total tokens in circulation, thereby decreasing the maximum BTT issuance. Notably, when a token is burned, the reserve in DEL remains unaffected, which consequently increases the token’s value relative to the reserve.
What Is the Circulating Supply of BTT? The initial maximum supply of BTT tokens is capped at 460,999,953.871, with 168,137,036 currently in circulation as of September 2021.
One of the most notable attributes of the BTT token is its technically integrated burning function. On a quarterly basis, BIT.TEAM undertakes a token burn of 20% of the company’s total token revenue.
On August 22, BIT.TEAM undertook a significant token burn, relinquishing 39,000,000 BTT. As previously stated, this deliberate reduction has resulted in a decrease in the maximum BTT token issuance. Prior to this burn, the total issuance stood at 500,000,000 BTT.
The Decimal Network’s security infrastructure is reinforced by Tendermint, a robust technology comprising two primary technical components. At its core lies a blockchain consensus mechanism, accompanied by a universal application interface. The Tendermint Core, a pivotal component, guarantees that transactions are recorded in a uniform sequence across all machines, ensuring a synchronized and reliable network.
The Cosmos SDK serves as the underlying technological foundation for building blockchains and implementing bespoke project architectures. The integrated smart contract module provides the basis for customized logic tailored to the target end-user. Ultimately, the end-user interacts with the system through a decentralized application interface.
Tokenomics and core logic are seamlessly integrated into the Decimal blockchain. The application interface, dubbed Application Blockchain Interface (ABCI), empowers the processing of transactions in any programming language. Unlike other blockchain and consensus solutions that come pre-bundled with built-in finite state machines (such as an elaborate key store or sophisticated scripting language), developers can leverage Tendermint to replicate a finite state machine Byzantine Fault Tolerance (BFT) application written in any programming language, seamlessly integrating with their development environment.
Where Can You Acquire BTT Tokens? As the native utility token of the BIT.TEAM exchange, the most convenient avenue to obtain BTT tokens lies in purchasing them directly through BIT.TEAM. This pioneering exchange boasts the most extensive array of trading pairs featuring BTT, while also offering the most competitive trading rates for the coin.
If you’re seeking alternative platforms to acquire BTT, consider visiting Decimal wallet and exchanging DEL for BTT. It’s essential to acknowledge that investing in cryptocurrency carries inherent risks, akin to investing in any other asset class.
To obtain the current BTT price in your preferred fiat currency, simply visit p2p.bit.team for a seamless experience.
New to the world of cryptocurrency? Explore our comprehensive guide on entering the market and purchasing BTT, DEL, or any other token at CoinMarketCap’s educational hub, Alexandria.