Bitcoin Standard Hashrate Token (BTCST): review, price chart, staking on Binance Launchpool

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Bitcoin Standard Hashrate Token (BTCST) are BEP20 tokens, each of which is backed by 0.1 Th / s of actual bitcoin mining power at a standardized power consumption of 60 W / Th. Simply put, everyone who owns this token can receive staking income that is equivalent to the possible mining income with the appropriate amount of computing power. The token was created to form an efficient market among bitcoin miners by reducing the entry threshold to a minimum.

Updated. 13/01/2021 Bitcoin Standard Hashrate Token (BTCST) has been added to the listing of the Binance crypto exchange (binance.com). Trading is open in BTCST / BTC, BTCST / USDT, BTCST / BUSD pairs.

The Btcnewsweb.com editors will tell you more about the BTCST token and its benefits. From January 8, 2021, users can receive this asset when staking in BNB, BUSD and BTC pools on Binance Launchpool. The end of distribution is February 7th.

Bitcoin Standard Hashrate Token

General information

NameBitcoin Standard Hashrate Token
TickerBTCST
Token typeBEP-20
BlockchainBinance Smart Chain
Total emission1 000 000 BTCST
Official sitehttps://www.1-b.tc/
Bloghttps://btcst.medium.com/
White Paperhttps://www.1-b.tc/static/BTCST_Whitepaper.pdf
Sourcehttps://github.com/Standard-Hashrate-Group
Twitterhttps://twitter.com/btcst2020
ExchangesBinance
Binance Launchpool distribution start date08.01.2021
Will be distributed to Binance Launchpool40,000 BTCST (4% of the total supply)

Bitcoin Standard Hashrate Token chart (BTCST)

Name Last Price Change % Change
BTCST
$1.02
+0.03
+2.68%

BTCST / USDT chart on Binance:

Principle of operation

There are many people who would like to start mining bitcoin, but they are stopped by such moments as a high entry threshold (buying expensive equipment) and a limited number of ways to exit (selling equipment is not easy afterwards). The BTCST (Bitcoin Standard Hashrate Token) token is designed to help solve this problem by bringing exchange liquidity to Bitcoin mining.

Features of the token:

  • Each BTCST is backed by 0.1 terahesh per second (TH / s) of BTC mining power.
  • By using this asset for staking, the holder can receive a daily BTC reward corresponding to the power expressed in his tokens.
  • BTCST will create an efficient market for Bitcoin mining. Its market value will be defined as the discounted cash flow of computing power.

Bitcoin mining is inherently a profitable venture, but its liquidity is minimal. Lack of liquidity means that miners have little to no way to protect themselves from fluctuations in mining equipment prices or profit from selling them. Unsurprisingly, this discourages newcomers from being serious about the process.

Cloud mining is not a perfect solution. Yes, it also lowers the entry threshold, but it does not help market formation due to the strong linkage between individual products and the lack of standardization. BTCST, on the other hand, standardizes and tokenizes mining power, turning it into a tool for exchange trading. This gives an opportunity to join mining and traders. Owning a token is functionally equivalent to owning computing power.

By using BTCST for trading, market participants can seamlessly enter and exit BTC mining in any size, anytime and with minimal cost.

A tokenized BTCST can only be issued when actual mining power has been contributed (or acquired by it) to the project. It happens like this: the miner adds the capacity he has to the project, which ensures the emission of the BTCST token. Only those miners who are able to confirm the following aspects can apply for standardization and tokenization:

  • the introduced capacity is produced legally;
  • equipment generating energy production is registered on the sites that have passed the risk assessment by the project team;
  • the minimum amount of energy is 5 PH / s.

Receiving energy, the project acquires the right to mine Bitcoin on the open market with attracted capital. BTCSTs issued with its help will belong to the project itself. Their number will correspond to the added or purchased mining power.

The standardization uses an energy consumption figure of 60 W / TH. If the efficiency of the total total mining power does not reach 60 W / TH, then the project will look for additional power with suitable efficiency, which will be contributed or acquired in such a way that the efficiency reaches the target level as a result.

BTCST staking

The BTCST project centrally receives mining rewards from the Bitcoin network, after which it decentrally distributes rewards to token holders. In order to receive rewards, the project will cooperate with the authoritative mining pool Binance Pool – namely, it will redirect all the power contributed by users to this pool, receiving in return daily mining rewards, which the pool calculates and distributes.

The Binance Pool Mining Pool will act as a service provider as well as an auditor overseeing sufficient mining power.

A portion of the daily rewards received will be sold on the open market to cover the energy and operating costs of the project. These amounts will be calculated and published by the project on a daily basis. The remaining mining rewards will be sent to the decentralized application, where they will be automatically distributed according to the staking principles.

Token distribution

The project has not and will not conduct public or private sales events due to the fact that BTCST can be issued only after standardization and tokenization of the computing power contributed by the participants.

The maximum offer is 1,000,000 BTCST. 4% of these will be allocated to the Binance Launchpool.

Rewards for each of the available pools:

  • BNB: 24,000 BTCST (60%)
  • BUSD: 4,000 BTCST (10%)
  • BTC: 12,000 BTCST (30%)

The distribution program runs from January 8 to February 7, 2021. These coins must be kept in the staking pool for 30 days or less, after which a reward will be calculated based on the number and duration of the block.

Advantages and disadvantages

Pros:

✅  Lowering the threshold for entering mining and facilitating the exit from it.

✅  The mining process is now becoming a highly liquid process.

✅  A small token emission keeps from inflation.

✅  Distribution to Binance Launchpool.

Cons:

❌  Many processes will take place on a centralized basis.

Perspectives

The Bitcoin Standard Hashrate Token project has already partnered with Power 360, which will act as the first tokenizing miner, contributing 100 PH / s of mining hashrate. It is planned to expand the zone of influence to different parts of the world, including Korea, Japan and Southeast Asia. At the moment, the project is of interest to the community, which is clearly visible in the activity on social networks. Like any innovative idea, moreover, supported by large companies and brands, BTCST has a fairly high chance of success.

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