Article Summary, Automatically Generated By AI
Summary of Bitcoin Standard Hashrate Token (BTCST)
Key Points:
- Launched on Binance Smart Chain (BSC) on Dec. 13, 2020
- Collateralized by Bitcoin’s hashrate, with each token representing 0.1 TH/s of mining power
- Aims to bridge liquidity to Bitcoin’s mining market
- Backed by industrial-scale Bitcoin miners, representing 12% of BTC’s global hashrate as of Feb 2021
Unique Features:
- Token collateralized by real Bitcoin mining power
- Holders can receive daily Bitcoin contributions by staking BTCST
Introducing the Bitcoin Standard Hashrate Token: A Novel Approach to Mining
Introducing Bitcoin Standard Hashrate Token (BTCST): A Revolutionary Concept
The Bitcoin Standard Hashrate Token (BTCST) debuted on Binance Smart Chain (BSC) on December 13, 2020. This innovative token is collateralized by Bitcoin’s (BTC) hashrate, with each token serving as a digital proxy for 0.1 TH/s of Bitcoin mining power, boasting an impressive efficiency of 60 W/TH. In this symbiotic arrangement, miners contribute their computational prowess to the platform, receiving newly minted BTCST tokens in return.
BTCST’s overarching objective is to establish a seamless liquidity bridge to Bitcoin’s mining market, thereby enabling users to access mining rewards and hashpower of any magnitude at a minimal cost. The app’s ultimate aspiration is to significantly enhance the liquidity and efficiency of mining power markets.
The Visionaries Behind Bitcoin Standard Hashrate Token: Meet the Founders
The Standard Hashrate Group, the entity behind the BTCST token, boasts the backing of industrial-scale Bitcoin miners, who collectively commanded a substantial 12% of the global Bitcoin hashrate as of February 2021.
Unveiling the Unparalleled Attributes of Bitcoin Standard Hashrate Token
BTCST is a token backed by genuine Bitcoin mining capacity, enabling holders to receive daily Bitcoin rewards commensurate with their staked mining power. By doing so, BTCST empowers users to tap into Bitcoin mining from within the decentralized finance (DeFi) ecosystem.
BTCST tokens can only be minted when eligible miners opt to standardize and tokenize their Bitcoin hashrate. Consequently, the project has refrained from hosting private or public sale events. The total supply cap is dynamically determined by the aggregate of all BTCST tokens staked on the application.
BTCST adheres to the BEP-20 standard. Hourly snapshots of user balances and aggregate pool balances are captured to facilitate the calculation of user rewards. In real-time, each pool’s annual percentage yield (APY) and total balance are dynamically updated. Notably, tokens can only be staked in a single pool at any given time. Users retain the flexibility to unstake their funds at their discretion and seamlessly participate in any of the alternative available pools.
BTCST is a cutting-edge cloud mining platform, strategically deployed on the Binance Smart Chain, offering users the convenience of daily payouts, seamlessly facilitated by a decentralized application (DApp).
What Is the Total Supply of Bitcoin Standard Hashrate Token (BTCST) Coins?
Circulation refers to the total amount of a particular cryptocurrency that is currently in use and available for trading on the open market.
On December 13, 2020, BTCST embarked on its journey, boasting an inaugural token supply of 1,000,000 tokens.
As of March 2021, the circulating supply of BTCST stands at 589,388, with a capped maximum supply of 1,500,000.
Ensuring the Integrity of the Bitcoin Standard Hashrate Token Network: A Multilayered Security Framework
The Binance Pool assumes the role of auditor for BTCST, ensuring the protocol’s legitimacy and transparency. As an asset protocol, BTCST pioneers the integration of Bitcoin hashrate assets into DeFi, laying the groundwork for a diverse range of DeFi protocols, including trading, lending, and borrowing platforms.
BTCST operates under the auspices of a decentralized autonomous organization (DAO), wherein token holders, miners, and the broader token community converge to collectively deliberate and decide on pivotal matters pertinent to the project. All proposals, votes, and outcomes are meticulously recorded and disclosed on-chain, ensuring transparency and accountability.
Where to Acquire Bitcoin Standard Hashrate Token (BTCST): A Comprehensive Guide
The Bitcoin Standard Hashrate Token (BTCST) is listed on a variety of prominent exchanges, facilitating seamless trading opportunities.
- The esteemed Binance
- VCC Exchange, a prominent player
- The burgeoning WBF Exchange
- PancakeSwap, a decentralized powerhouse
Delve into our comprehensive guide on purchasing Bitcoin and discover the intricacies of this digital phenomenon.
Associated Resources:
Delve into the world of Civic and discover its innovative approach to identity verification and management.
Delve into the world of Zilliqa, a pioneering blockchain platform.
Delve into the world of cryptocurrency exchange-traded funds (ETFs) on CMC Alexandria, your premier resource for in-depth knowledge and insights.
Delve into the world of cryptocurrencies and expand your knowledge on the CoinMarketCap blog, your premier destination for insightful perspectives and expert analysis.