BTCB is a wrapped version of Bitcoin that operates on the Binance Smart Chain (BSC). It represents Bitcoin in a BEP-2 token standard, allowing Bitcoin holders to utilize their assets within the BSC decentralized finance ecosystem. Each BTCB token is backed 1:1 by actual Bitcoin held in reserve. This enables cross-chain functionality.
Context
BTCB serves as a bridge for Bitcoin liquidity into other blockchain environments, primarily BSC, facilitating participation in various decentralized applications. Its utility is tied to the transparency of its reserves and the security mechanisms ensuring its peg to Bitcoin, which are critical factors for user trust and adoption in the broader DeFi space.
The launch of BTC restaking infrastructure unlocks Bitcoin's passive capital, strategically positioning it as a foundational asset for decentralized security.
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