Bitcoin Standard Hashrate Token

Halal Rating :
Comfortable
Last Price $0.11 Last updated:
Rank 1803
1D Change 111.87 %
Market Cap $1.37m
Circulating supply 12,201,401
Maximum supply 15,000,000

Crypto Overview

Categories
  • Binance Launchpool
  • BNB Chain
  • Bitcoin Ecosystem

Project Overview

Bitcoin Standard Hashrate Token (BTCST) is a tokenized Bitcoin mining power protocol launched in January 2021. The token represents standardized Bitcoin mining hashpower, where 1 BTCST represents 0.1 TH/s of Bitcoin mining power. Token holders can stake their BTCST to earn Bitcoin rewards from the underlying mining operations.

Intended Utility

The primary purpose of BTCST is to provide a way for users to participate in Bitcoin mining without directly operating mining hardware. The protocol works by tokenizing actual Bitcoin mining power from partnered mining farms, making mining power tradeable and accessible to a broader audience. The mining rewards are distributed to token holders who stake their BTCST.

Actual Utility and Implementation

The protocol has demonstrated real-world utility through its integration with legitimate mining operations. The project maintains partnerships with established mining farms and has shown consistent mining reward distributions. On-chain data confirms active staking participation and regular BTC reward distributions to token holders.

Token Distribution and Governance

The token distribution shows a relatively balanced allocation, with no excessive concentration among founders or early investors. There are implemented vesting schedules for team tokens. The project maintains transparency in its operations through regular updates and clear documentation of mining power backing the tokens.

Technical Implementation

The smart contracts have been audited by reputable firms. The protocol operates on the Binance Smart Chain, with clear mechanisms for staking and reward distribution. The technical documentation is comprehensive and regularly updated.

Crypto Impact

To assign a comfort level investing in Bitcoin Standard Hashrate Token from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bitcoin Standard Hashrate Token.

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Justification for our Halal Rating