BEP2 Bitcoin (BTCB) is a stable digital currency issued by Binance that is pegged to the value of BTC (1 BTCB = 1 BTC). It is issued in a transparent and fully reserved manner.

Project Advantages

Freedom in Payments
You can instantly send and receive any amount of funds at any time, from anywhere. No bank holidays, no borders, no imposed limits. Bitcoin gives users complete control over their finances.

Choose Your Own Fees
Processing payments with Bitcoin currently incurs no fees or very low fees. Users can include fees in transactions to encourage faster confirmation times. There are also merchant processors that assist merchants in processing transactions and converting Bitcoin into fiat currency, depositing funds directly into the merchants bank account. These services offer significantly lower fees than PayPal or credit card networks because they are based on Bitcoin.

Reduced Risk for Merchants
Bitcoin transactions are secure, irreversible, and do not contain sensitive or personal information about the customer. This eliminates losses due to fraud or fraudulent chargebacks and eliminates the need to comply with PCI standards. Merchants can easily expand into new markets where credit cards cannot be used or where fraud rates are unacceptably high. The result is lower fees, a larger market, and less administrative cost.

Security and Control
Users have full control over their transactions; merchants cannot force unwanted or unnoticed fees as might happen with other payment methods. Payments made with Bitcoin can be made without tying personal information to the transaction, providing strong protection against identity theft. Bitcoin users can also protect their funds through backups and encryption.

Transparency and Neutrality
All information regarding the supply of Bitcoin itself is stored in the blockchain, which can be inspected and utilized in real-time by anyone. No individual or organization can control or manipulate the Bitcoin protocol because it is cryptographically secure. We can trust Bitcoin to be completely neutral, transparent, and predictable.

Proof of Work

To implement a peer-to-peer timestamp server, we use a proof-of-work system similar to Adam Backs Hashcash, rather than newspaper or Usenet posts. Proof of work involves searching for a number such that when hashed, for example using SHA-256, the hash begins with a certain number of zero bits. The average work required will increase exponentially with the number of zero bits required, while verification only requires one hash.

For our timestamp network, we implement proof of work by adding a nonce to the block until a number is found that makes the block’s hash satisfy the required number of leading zero bits. Once a CPU has expended the work to make the block satisfy the proof of work, the block cannot be altered unless that work is redone. Since subsequent blocks are linked to this block, changing this block would require redoing all subsequent blocks.

The proof of work also solves the problem of determining representation in majority decision-making. If a majority were determined by one-vote-per-IP-address, it could be broken by someone able to allocate many IP addresses. Proof of work is essentially one-CPU-one-vote. The longest chain represents majority consensus, because it has the greatest proof of work effort invested in it. If a majority of CPU power is controlled by honest nodes, the honest chain will grow fastest and outpace other competing chains. To modify a past block, an attacker would need to redo the proof of work of the block and all blocks after it to catch up and surpass the work of the honest nodes. We will show later that the probability of a slower attacker catching up diminishes exponentially as subsequent blocks are added.

To compensate for increasing hardware speeds and to balance the interests of those running nodes over different periods, the difficulty of the proof of work will be adjusted using a moving average to target an average number of blocks generated per hour. If blocks are generated too quickly, the difficulty will increase.