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What is BTOK currency?

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What kind of currency is BTOK? According to the official announcement of Bitoke

What is BTOK currency?

What kind of currency is BTOK? According to the official announcement of Bitoke, BTOK is a decentralized token based on the Ethereum network for issuance and circulation. It is a token completely managed by the community and has a Proof of Stake (POS) consensus mechanism. It is mainly used for transaction fees and voting in the network. In addition, BTOK also supports transfers and asset custody using USDT.

So what exactly is cryptocurrency on the blockchain? What specific reasons have caused this phenomenon? Before answering this question, let’s first understand the specific information of BTC, ETH, EOS, and some other mainstream digital currencies.

1. Bitcoin is mined by miners. The total amount of bitcoin obtained through mining is fixed at 200 million, with 21 million currently in circulation. At the current market value, it is worth about 400 million US dollars, which means that producing over 1000 bitcoins every 10 minutes is equivalent to producing over 100 bitcoins. The price of Bitcoin has risen from $30,000 to $60,000. If the price of Bitcoin rises by 10% or more, the total supply will be reduced by about half. In other words, a large amount of Bitcoin is mined every day, and some or all of this money will be destroyed or put into circulation, ensuring the continuous and healthy growth and development of the entire market. 2. Why use blockchain to ensure security? First of all, it needs to be determined that Bitcoin is a protocol used as a peer-to-peer electronic cash system. However, due to its technical characteristics, it cannot be exchanged directly with traditional bank accounts. Secondly, in order to make Bitcoin a stable and reliable monetary medium, it must be anchored to a “basket” of fiat currencies at a 1:1 ratio with the US dollar. (The above content is for reference only and does not constitute investment advice.)

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