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BTC Standard Hashrate Token (BTCST)BTCST
$5.2357
3.53%
BTC Standard Hashrate Token (BTCST)
BTCST Price
$5.2357
3.53%
Rank
#374
Market Cap (24H)
$38.16M
3.53%
Volume (24H)
$2.90M
25.81%
Circulating Supply
7,287,600
Transp. Vol.
Grade
1H1D1W1M1Y
+3.53%
BTC Standard Hashrate Token logo
BTCST
United States Dollar logo
USD
BNB0x78650...14a38e9
BNB
Verify address & DYOR
Contract
BNB0x78650...14a38e9
BNB
Verify address w/ multiple resources & DYOR
Blockchain
Websitehttp://www.1-b.tc/
CommunityTwitterRedditTelegramGithubMedium
BTC Standard Hashrate Token (BTCST) is a blockchain-based asset protocol that aims to make Bitcoin usable in decentraliz...Read more
Prediction

BTC Standard Hashrate Token Price (BTCST)

BTCST Daily Performance

Today's BTC Standard Hashrate Token price is $5.2357, which is up 4% over the last 24 hours. BTC Standard Hashrate Token's market cap is $38.16M. 24 hour BTCST volume is $2.90M. It has a market cap rank of 374 with a circulating supply of 7,287,600 and max supply of 15,000,000. BTC Standard Hashrate Token is traded on exchanges. BTC Standard Hashrate Token had an all-time high of $453.84 almost 2 years ago. Over the last day, BTC Standard Hashrate Token has had 0% transparent volume and has been trading on 78 active markets with its highest volume trading pairs being .

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BTC Standard Hashrate Token Statistics

BTC Standard Hashrate Token Price (24hr)$5.2357 (+3.53%)
Market Cap$38.16M (+3.53%)
Trading Volume (24hr)$2.90M (+25.81%)
Transparent Vol. (24hr)
Unknown
Transparency GradeUnknown
Circulating Supply7,287,600 (48.58%)
All-Time High
$453.84-98.85%
7D Price Prediction
$5.0432

Price

$5.2357
Price Change
$0.178316 (3.53%)

All-Time High

$453.84
Date of ATH
Days Since ATH
% of ATH1.15%
Price vs ATH

Market Cap

$38.16M
Mkt Cap Change
$1.30M$1,299,498 (3.53%)
Mkt Cap Rank374
Mkt Dominance
Mkt Dominance

Circulating Supply

7,287,600
Max Supply15,000,000
% in Circulation48.58%
% in Circulation

About BTC Standard Hashrate Token

BTC Standard Hashrate Token (BTCST) is a blockchain-based asset protocol that aims to make Bitcoin usable in decentralized finance (DeFi). Each coin is collateralized by 0.1 terahash per second (Th/s) of BTC’s mining power standardized to an efficiency that equals 60 W/TH. Thus, it creates a bridge between Bitcoin hashrate assets and lets its holders earn passive income in bitcoins via staking. Moreover, it brings exchange-rate liquidity to hashrate assets helping market participants get involved in the mining processes hassle-free. The project was officially launched on Binance Smart Chain on December 13th, 2020.

The solution to the Bitcoin mining problem

The project founders aim to resolve one of the fundamental problems inherent to the market of BTC mining. While this venture has proved to be quite profitable over the past years, it still suffers limited liquidity. Miners are bound to hold their equipment for many years or rely on untrusty brokers to cash out their bitcoins. As a result, it’s difficult to make profits from the price fluctuations of mining machines. Cloud mining could be a good alternative as it lowers barriers of entry to mining. However, it’s not perfect either due to the lack of standardization and strong product coupling.

BTC Standard Hashrate Token aims to solve these problems by collateralizing the standardized Bitcoin mining power. This means that BCTST holders get a legal and functional equivalent of the power they possess. By staking this token, they can receive mining rewards in BTC while token listing on various exchanges gives them a possibility to cash out at any time. Thus, those who want to make profits from mining no longer have to purchase costly equipment or depend on brokers.

BTCST token details

BTCST represents a BEP-20 utility token running on the Binance Smart Chain. It can be issued only when BTC miners decide to standardize and tokenize Bitcoin hashrate through BTCST and contribute to the network accordingly. In return, they get a corresponding number of tokens. Participation in the process is free, which means that any miner can join and leave at any time.

The miners have to prove a few aspects to be eligible to obtain BTCST, though. First, they have to prove that they truly own the contributed power. Second, their mining equipment must be hosted in sites that have been properly assessed by the program team. Finally, the miners must contribute no fewer than 5 PH/s of their power.

As mentioned earlier, the project set the standardization target of BTCST to be equal to 60 W/TH upon the launch. However, if the effective efficiency provided by the participants deviates from this threshold, the project will look for more mining power. At this, it’s also worth mentioning that BTCST itself has launched its own acquisition program to buy the mining power on the open market for the raised funds. The project owns all the tokens issued under this program.

The token was released on Binance Launchpool with an initial supply of 1 million BTCST tokens. 96% of the initial circulating supply was assigned to the initial tokenizing miner while the remaining 4% was left in the launchpool. During the Launchcpool, users were able to stake BNB, BTC, and BUSD into separate pools and thus obtain BTCST via farming. The ongoing event started on January 8th, 2021. After this date, Binance listed the token in its innovation zone and opened corresponding trading pairs.

Since BTCST is running on BSC, it can be stored and staked on any BNB-compatible wallet such as Metamask TrustWallet, MathWallet, and many others. The token itself is available for purchase on Binance, Gate.io Poloniex, and a few other reputable centralized exchanges. As for decentralized ones, BTCST is supported only by PankcakeSwap at the time of writing.

On March 15th, 2021, BTCST experienced a 1:10 token redenomination following the STP-4 Proposal. As a result, the number of existing tokens possessed and staked by users increased tenfold while their hash power remained the same. The price of the token decreased accordingly. Also, on the same day, the TRON Foundation announced that BTCST had officially joined the TRON blockchain. The new partnership enabled token users to stake it on TRON thanks to the TRON Bridge.

BTCST governance

The team standing behind the project together with the partnering mining pool, Binance Pool, has created a governance board. Its key function is to decide on various aspects of the platform such as new token issuances, surplus profit distribution, cost level adjustments, and other issues related to future development. Out of the three seats present on the governance board, two belong to the team and one to the pool.

BTCST security

BTCST successfully passed the audit by Certik with a score of 98 out of 100 having proved to be a highly secure solution. The report was published in January 2021. In addition, the project was audited by another leading smart contract auditing provider Armor Labs which hasn’t discovered any critical bugs in the smart contract either.

BTCST team and partners

According to the whote paper of the project, the team standing behind the project consists of China-based mining experts with extensive experience in constructing and managing mining equipment. The assets that the team relies on include some of those that belong to the largest cloud mining providers in the world. The project doesn’t disclose any real names, though. However, since it is backed by Binance, it’s relevant to assume that Changpeng Zhao took part in the project creation.

As for the project’s partners, BTCST has a number of institutional Bitcoin miners who support the platform having contributed more than 2,000 PH/s of the mining power. These founding partners are the ones who participate in the governance board and are eligible to make important decisions. The list includes such names as Token Pocket, Math Wallet, SafePal, Genesis Mining, and, of course, Binance.

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BTC Standard Hashrate Token Markets

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BTC Standard Hashrate Token Historical Data

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Frequently Asked Questions

  • What’s the current BTC Standard Hashrate Token price? How much is 1 BTC Standard Hashrate Token worth?

    The price of 1 BTC Standard Hashrate Token is $5.2357. Over the last 24 hours, a BTC Standard Hashrate Token is worth 3.53% more. Visit our currency converter page to convert BTCST prices to currencies other than USD.
  • When did BTC Standard Hashrate Token start?

    The earliest trading data for BTC Standard Hashrate Token is on January of 2021 (based on current exchange data).
  • How high can the BTC Standard Hashrate Token price go?

    BTC Standard Hashrate Token’s price has gone as high as $453.84 (which is BTCST’s all-time high). It achieved this price almost 2 years ago. Speculations abound for how high BTC Standard Hashrate Token’s price will get in the future.
  • What's the smart contract address for BTC Standard Hashrate Token?

    BTC Standard Hashrate Token's smart contract address is 0x78650b139471520656b9e7aa7a5e9276814a38e9.

Today's BTCST / BTC Standard Hashrate Token News for December 5, 2022

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