Standard Hashrate has launched a new project related to Bitcoin hashrate tokenization, allowing users to indirectly participate in BTC mining with a dedicated token.
The project has also been announced by Binance, which has opened a launchpool, where users will be able to participate and bet different tokens to recover the token of the project called Bitcoin Standard Hashrate Token (BTCST).
BTCST, the token based on the Bitcoin hashrate
The token cultivation will last for a month and until February 6 a total of 40 thousand BTCST will be distributed among the 3 available pools, that is, the one related to BNB, BUSD and BTC, so all those who block the Relevant tokens on Binance will be able to receive a portion of the new tokens.
The BTCST token has a total supply of 1 million and it is a BEP20 token, so it is based on Binance's blockchain, Binance Smart Chain.
The token has been listed on Binance and it is already traded with the pairs BTCST / BTC, BTCST / BUSD and BTCST / USDT, so users can buy and withdraw it to use it in the system created by the project, since it represents a guarantee of 0.1 TH / s (terahash per second) of Bitcoin's mining power.
Users themselves can bet your BTCST And in that way, the BTC that are extracted will be distributed due to the power they have provided: the more tokens they bet, the more BTC they will receive for betting.
This lowers the barrier between those who want to mine bitcoins and those who have the power to do so, as the tokens are guaranteed and it is easy to calculate in advance how many BTC can be recovered based on how many tokens were wagered and how much the power is used.