Bitcoin BEP2 (BTCB) emerges as a token riding the Binance Chain wave. Each BTCB finds its backbone in a BTC reserve, locking its value to Bitcoin at 1 BTCB = 1 BTC. Transparency reigns supreme with the reserve address open for scrutiny by all.
Binance, in its transparency quest, discloses the reserve address, inviting scrutiny from third parties. This move aims to underscore Bitcoin BEP2's integrity, fostering trust among investors. It's a cog in Binance's drive for inclusive trading via its decentralized exchange (DEX), a core Binance Chain service.
Since its inception on April 18, 2019, Binance Chain has swiftly pivoted towards decentralization and interoperability. Binance Chain Evolution Proposal 2 (BEP2), launched in June 2019, sets the blueprint for tokens, delineating the technical specs and governance for seamless integration into the Binance Chain ecosystem.
Who Are the Founders of Bitcoin BEP2?
At the helm of Bitcoin BEP2's voyage are Changpeng Zhao (CZ) and the Binance juggernaut.
CZ, Binance's trailblazer, spearheads the world's largest crypto exchange within a mere 180 days. Armed with a computer science degree from McGill University, CZ, a coding savant, delved into blockchain tech in 2013, immersing himself in the crypto realm.
In 2015, CZ founded BijieTech, fortifying his position in the crypto sphere. His stint at OKCoin, coupled with his ventures at Blockchain.info, culminated in Binance's launch in 2017, etching CZ's legacy in crypto lore.
What Makes Bitcoin BEP2 (BTCB) Unique?
Bitcoin's DeFi frailties have catalyzed a quest for solutions, spawning Bitcoin BEP2 on Binance Chain. This Bitcoin doppelgänger, housed within Binance Chain, mirrors Bitcoin's value, each BTCB underpinned by tangible BTC reserves.
BTCB's advent unlocks myriad advantages:
Facilitating BTC trading on Binance DEX amplifies trading options, fostering increased volume and liquidity.
Binance's credibility lures users to swap BTC for BTCB, bolstering liquidity and trust.
Transparent BTC reserves on Binance Chain allay concerns, fostering trust and confidence.
Although centralized, BTCB's simplicity eclipses atomic swaps, democratizing trading for all.
Binance champions token migration to Binance Chain, streamlining processes for developers.
Related Pages
Explore Binance Coin (BNB) and Bitcoin synergies further.
Delve into decentralized exchange (DEX) intricacies with CMC Alexandria’s Crypto Glossary.
Unveil the tech behind Binance Smart Chain in our deep dive.
Unlock BEP-2's mysteries, Binance Chain’s tokenization standard.
Stay abreast with the latest crypto trends via CoinMarketCap’s blog.
How Many Bitcoin BEP2 (BTCB) Coins Are There in Circulation?
Bitcoin BEP2, riding BEP-2's wave, orbits within Binance Chain's ecosystem. To transact in BTCB, holding BNB tokens is requisite.
BTCB holders bask in seamless conversion to other tokens on Binance DEX, fostering liquidity and utility. Additionally, BTCB's seamless swap for Bitcoin on Binance exchange furthers its accessibility.
As of early July 2021, BTCB boasts 73,096 in circulation, with a total supply pegged at 80,501 BTCB.
How Is the Bitcoin BEP2 Network Secured?
Secured within Binance Chain's confines, Bitcoin BEP2 taps into delegated proof-of-stake (DPoS) and practical Byzantine Fault Tolerance (pBFT). This eco-friendly duo supersedes the energy-intensive proof-of-work (PoW) paradigm. Tendermint Byzantine Fault Tolerance (BFT) further fortifies Binance's blockchain.
Where Can You Buy Bitcoin BEP2 (BTCB)?
Mining may elude Bitcoin BEP2, but trading avenues abound. Crypto exchanges like Binance DEX, PancakeSwap (V2), and more offer BTCB for avid traders. Venture into the crypto realm armed with our comprehensive guide on buying Bitcoin and other tokens.
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