Home / Crypto News / Binansu announces bitcoin interlocking BEP2 token “BTCB”

Binansu announces bitcoin interlocking BEP2 token “BTCB”

HOME> News> Binance Announces Bitcoin Linked BEP 2 Token “BTCB”


Yuya 【CRYPTO TIMES Official Writer】

Yuya Coin Desk News

I have studied a wide range of technologies and applications of distributed ledger technology.

A major crypto asset exchange, Binance, has announced the issuance of a BT2 standard token ” BTCB ” on a biance chain linked to Bitcoin (BTC).

Binance is said to increase the number of stocks that can be traded on Binance DEX (Distributed Exchange) by porting popular cryptographic assets onto a Binance chain. BTCB is the first of its kind, and it is said that it will also port other tokens in the future.

BTCB does not use a cross-chain solution such as atomic swap, but uses a reserve (BTC) to secure the value of the token like a stable currency-linked stable coin.

Binancy says that although BTCB is a centralized approach token, it is more user-friendly than the swap case.

Also, unlike the legal currency linked type, the point where the address of the reserve is disclosed on the block chain explorer is also said to lead to the establishment of transparency.

The reserve address currently holds 9001 BTC, and Binance has issued 9001 BT CB in response.

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Author: Yuya 【Coin Desk News】 – Source Post: http://gestyy.com/w12ntK

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