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Summary of BNbitcoin (BNBTC)
Key Points
- BNbitcoin (BNBTC) is a smart contract implementation on the Binance Smart Chain (BSC) ecosystem.
- It’s a purely mined Proof-of-Work (PoW) BEP20 token with no pre-mine, airdrop, or ICO.
- BNBTC seeks to become the primary PoW-based store of value on the BSC platform.
- Maximum supply is limited to 21,000,000 BNBTC, created through energy-intensive PoW mining.
- Block reward eras-based halving policy is implemented, with 40 eras over the next years.
- First era begins with a
About BNBitcoin: Empowering the Future of Cryptocurrency
Introducing BNbitcoin (BNBTC): A Comprehensive Overview
BNbitcoin (BNBTC) is a sophisticated smart contract implementation native to the Binance Smart Chain (BSC) ecosystem, born from the evolution of an Ethereum-based project. Adapted to conform to the BEP20 standard, it has been meticulously modified to accommodate the faster block times inherent to the BSC blockchain. As the first purely mined Proof-of-Work (PoW) BEP20 token indigenous to the BSC network, its distribution is characterized by the absence of pre-mining, airdrops, and Initial Coin Offerings (ICOs). The PoW mining process ensures a demonstrably neutral, fair, and transparent distribution paradigm.
What is BNB’s Purpose and What Are Its Distribution Details?
BNbitcoin aspires to become the premier proof-of-work-based store of value on the Binance Smart Chain platform, which, conversely, is categorized as a “Proof-of-Staked-Authority” (PoSA) blockchain. The process of BNBTC mining, in principle, parallels that of Bitcoin mining, with a notable distinction: whereas Bitcoin’s network security and consensus mechanism rely on the SHA-256 algorithm, BNBTC leverages the SoliditySHA3 hashing algorithm solely for distribution purposes, secured by the underlying network. The BNBTC miner’s work is issued to the smart contract, which, every epoch, adjusts the mining difficulty based on the aggregate hashpower interacting with it to match the target block time. Furthermore, BNBTC pays homage to Bitcoin’s scarcity attribute, adopting an identical neutral distribution policy, with its maximum supply capped at 21,000,000 BNBTC, to be created over the next decades through the energy-intensive proof-of-work mining process alone.
Will BNB Become Scarcer in the Years to Come, Similar to Bitcoin?
Similar to Bitcoin, this cryptocurrency features a 2-week target difficulty adjustment period, a 10-minute target block time, and an ingenious block reward halving policy, meticulously designed by Satoshi Nakamoto to ensure perpetual scarcity, security, and long-term decentralization. The inaugural era commences with a generous block reward of 50 tokens for the initial 10.5 million tokens mined, which is subsequently reduced by 50% to 25 tokens in the succeeding era following the first halving, and so forth for 40 eras, which will be mined over the coming years.
The Pivotal Aspect of the BNbitcoin Project
The paramount advantage of BNbitcoin lies in its unique amalgamation of Bitcoin’s deflationary policy, neutral distribution, scarcity, and transparency, coupled with the cost-effective transactions and minting fees characteristic of the Binance Smart Chain. As a fully BEP20-compliant cryptocurrency, it can be seamlessly managed with various existing wallets, rendering BNBTC an ideal choice for even the smallest of payments.
What Hardware or Software Requirements are Necessary for Mining Bitcoin?
Presently, BNbitcoin accommodates both solo and pool mining modalities, with FPGA-based hardware serving as the reference method and primary contributor to the total network hashrate. Notably, mining rigs equipped with either Nvidia or AMD GPU cards can also be utilized, in conjunction with the mining software currently available for both Linux and Windows operating systems.
Where Can I Acquire BNbitcoin (BNBTC)?
BNbitcoin is presently listed on prominent BSC decentralized exchanges, including 1inch.exchange, pancakeswap.finance, apeswap.finance, and dodoex.io, thereby ensuring seamless accessibility.