BNbitcoin price

BNBTC

#6101

BNbitcoin seeks to become the primary PoW-based store of value on the Binance Smart Chain plat-form, which conversely is categorized as a "Proof-of-Staked-Authority" (PoSA) blockchain. The process of BNBTC mining in principle is similar to the Bitcoin mining but with a difference: while Bitcoin’s network security and consensus mechanism are based on the SHA-256 algorithm, BNBTC takes advantage of the SoliditySHA3 hashing algorithm only for its distribution, being secured by the underlying network. The BNBTC miner’s work is issued to the smart contract, which, every epoch, adjusts the mining difficulty based on the amount of total hashpower interacting with it to match the target block-time. Additionally, BNBTC pays homage to Bitcoin's scarcity attribute, having the same neutral dis-tribution policy, with its maximum supply limited to 21'000'000 BNBTC, created in the next decades by no other means than the energy-intensive PoW mining process.

Like Bitcoin, it has a target difficulty adjustment period of 2 weeks, target blocktime of 10 minutes, and even it implements the pre-programmed block reward eras-based halving policy designed by Satoshi Nakamoto, with perpetually integrated scarcity, security and long-term decentralization in mind. The first era begins with a block reward of 50 tokens for the first 10.5 million tokens mined, which is reduced by 50% to only 25 tokens in the following era after the first halving, and so on for 40 eras, which will be mined over the next years.