# What Is Bitcoin BEP2 (BTCB)?

[Bitcoin BEP2](https://coinmarketcap.com/currencies/bitcoin-bep2/) (BTCB) is a token on the Binance Chain. Each BTCB is 100% backed by a BTC reserve, with the price pegged to [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) at a rate of 1 BTCB = 1 BTC. The [reserve address](https://btc.com/btc/address/3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb) for verification is publicly available to anyone at any time.

The Binance cryptocurrency exchange has published the reserve address to demonstrate the transparency of the Bitcoin BEP2 project, as well as to pique the interest of third parties who can freely check the contents of the Bitcoin pool and compare the data with the number of BTCB tokens issued. The project forms part of Binance’s endeavor to provide affordable trading opportunities for users of its decentralized exchange ([DEX](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex)) – one of the main services supported by Binance Chain.

Since its launch on April 18, 2019, Binance Chain has been able to achieve good results regarding decentralization and interoperability in a quite short time. Binance Chain Evolution Proposal 2 (BEP2) was launched in June 2019, outlining a set of technical features, rules and management criteria that tokens must meet in order to function properly in the Binance Chain ecosystem.


## Who Are the Founders of Bitcoin BEP2?

[Changpeng Zhao](https://coinmarketcap.com/alexandria/people/changpeng-zhao) (aka CZ in the crypto community) is the founder and CEO of [Binance](https://coinmarketcap.com/exchanges/binance/), which grew to become the world’s largest crypto exchange by daily traded volume within just 180 days. He is a graduate of McGill University in Montreal with a degree in computer science. As a coder who gained experience building high frequency trading systems, he has been concentrating on blockchain technology since 2013 and has completely immersed himself in the world of cryptocurrencies.

CZ is also CEO at BijieTech, which he founded in 2015. Prior to BijieTech, Zhao was the co-founder and CTO of OKCoin, around the same time he launched his own futures platform. He has also worked at Blockchain.info as the head of the technology department. In 2017, he officially launched Binance.

What Makes Bitcoin BEP2 (BTCB) Unique?

As [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) is not strong when it comes to [DeFi](https://coinmarketcap.com/alexandria/glossary/defi), developers are constantly looking for workarounds and struggle with obstacles that include high fees and a cumbersome process for creating [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract). [Bitcoin BEP2](https://coinmarketcap.com/currencies/bitcoin-bep2/) is a Bitcoin clone issued on Binance Chain. Its price is always as close as possible to the price of the underlying asset – Bitcoin – and each BTCB is backed by an actual BTC.

The pegged BTCB tokens are therefore 100% backed by their own reserve coin, Bitcoin. The advantages of using BTCB include:



* Since the release of BTCB, traders on Binance DEX have had the opportunity to trade BTC, even if the BTC is hosted on a completely different blockchain. BTCB therefore provides Binance DEX traders with access to even more trading pairs, resulting in increased trading volumes.
* As the range of available assets has grown, so has liquidity, which is an advantage for users of the exchange.
* Binance has sealed a strong reputation over the years and has earned the trust of its users, so many users are willing to store their BTC on the platform in order to access BTCB.
* On Binance Chain, anyone can check the BTC reserves at any convenient time, which attests to the project’s high degree of transparency.
* Exchange representatives claim that while this approach is more centralized than a[tomic swaps](https://coinmarketcap.com/alexandria/article/what-are-atomic-swaps), it is easier to understand and master for most traders.
* If developers wish to transfer their assets to Binance Chain, the platform actively promotes this and streamlines the process.


## Related Pages

Read more about [Binance Coin](https://coinmarketcap.com/currencies/binance-coin/) (BNB) and [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/). 

What is a decentralized exchange (DEX)? [Learn more](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) using CMC Alexandria’s Crypto Glossary.

What is Binance Smart Chain? Read [this tech deep-dive](https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain).

What exactly is BEP-2, Binance Chain’s tokenization standard? All you need to know is [here](https://coinmarketcap.com/alexandria/glossary/bep-2-binance-chain-tokenization-standard).

For all the latest crypto news check out CoinMarketCap’s [blog](https://blog.coinmarketcap.com/).

How Many Bitcoin BEP2 (BTCB) Coins Are There in Circulation?

[Bitcoin BEP2](https://coinmarketcap.com/currencies/bitcoin-bep2/) is a token that uses the [BEP-2](https://coinmarketcap.com/alexandria/glossary/bep-2-binance-chain-tokenization-standard) technical standard (as outlined in Binance Chain Evolution Proposal 2), which is used to issue and sell tokens on Binance Chain. As you know, Binance Chain has its own native token for paying fees, [Binance Coin](https://coinmarketcap.com/currencies/binance-coin/). To transfer BEP2 tokens you will therefore have to hold BNB tokens in your wallet.

BTCB holders can exchange their coins for any other tokens on Binance DEX. Token Holders can also exchange Bitcoin BEP2 for [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) on the main Binance exchange.

As of early July 2021, the currency has a circulating supply of 73 096 BTCB and a total supply of 80 501 BTCB.

How Is the Bitcoin BEP2 Network Secured?

[Bitcoin BEP2](https://coinmarketcap.com/currencies/bitcoin-bep2/) is based on Binance Chain, which uses a combination of delegated proof-of-stake ([DPoS](https://coinmarketcap.com/alexandria/glossary/delegated-proof-of-stake-dpos)) and practical Byzantine Fault Tolerance (pBFT). These two consensus algorithms are a much more ecological alternative to the energy-intensive proof-of-work ([PoW](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake)) algorithm. On top of this, the Binance blockchain is also secured by the Tendermint byzantine fault tolerant ([BFT](https://coinmarketcap.com/alexandria/glossary/byzantine-fault-tolerance-bft)) consensus mechanism.

Where Can You Buy Bitcoin BEP2 (BTCB)?

[Bitcoin BEP2](https://coinmarketcap.com/currencies/bitcoin-bep2/) is a decentralized digital asset that cannot be mined for profit. However, BEP2 tokens can be traded like other assets. To acquire BTCB you’ll need to purchase it through crypto exchanges. These include [Binance DEX](https://coinmarketcap.com/exchanges/binance-dex/), [PancakeSwap (V2)](https://coinmarketcap.com/exchanges/pancakeswap-v2/), [MDEX](https://coinmarketcap.com/exchanges/mdex-bsc/), [DODO BSC](https://coinmarketcap.com/exchanges/dodo-bsc/), [Demex](https://coinmarketcap.com/exchanges/demex/), [SwipeSwap](https://coinmarketcap.com/exchanges/swipeswap/), [JulSwap](https://coinmarketcap.com/exchanges/julswap/), [HitBTC](https://coinmarketcap.com/exchanges/hitbtc/), [Venus](https://coinmarketcap.com/exchanges/venus/), [BEPSwap](https://coinmarketcap.com/exchanges/bepswap/), [OpenOcean](https://coinmarketcap.com/exchanges/openocean/), [BakerySwap](https://coinmarketcap.com/exchanges/bakeryswap/), and [THORChain.](https://coinmarketcap.com/exchanges/thorchain-bep20/).

Still new to cryptocurrency? Learn how to buy [Bitcoin](https://coinmarketcap.com/currencies/bitcoin/) and other tokens using [our guide](https://coinmarketcap.com/how-to-buy-bitcoin/).

Do you want to know how long it takes to mine one Bitcoin? [Click here](https://coinmarketcap.com/alexandria/article/how-long-does-it-take-to-mine-one-bitcoin).


Bitcoin BEP2

Ledger

MetaMask

Binance Chain Wallet

Welcome to Bitcoin BEP2's Community channel aggregated by CoinMarketCap.

BNB Beacon Chain (BEP2)

FTX Token

WazirX

Contentos

TROY

ShareToken

Ormeus Ecosystem

Mithril

GoWithMi

Atlas Protocol

Aeron

Newton

Bitcoin SV (BSV) emerged following a hard fork of the Bitcoin Cash (BCH) blockchain in 2018, which had in turn forked from the BTC blockchain a year earlier following the blocksize wars.

BSV claims to fulfill the original vision of the Bitcoin protocol and design as described in Satoshi Nakamoto’s white paper, early Bitcoin client software and known Satoshi writings. BSV aims to offer scalability and stability in line with the original description of Bitcoin as a peer-to-peer electronic cash system, as well as deliver a distributed data network that can support enterprise-level advanced blockchain applications.

To this end, it has removed artificial block size limits and re-enabled Script commands and other technical capabilities which had been historically disabled or restricted by the protocol developers of the BTC blockchain. This purportedly allows the network to process tens of thousands of transactions per second while maintaining extremely low transaction fees for micropayments, in addition to offering advanced capabilities such as tokens, smart contracts, computation and other data use cases.

The BSV network claims to be unique in its capacity for unbounded on-chain scaling while also being more aligned with the original design of Bitcoin than any other blockchain.

Bitcoin SV

Bitcoin Gold was founded in 2017 to become a user-friendly alternative to Bitcoin. The BTG network aims to combine the security and sturdiness of the Bitcoin blockchain and its characteristics with the opportunity for experimentation and development.

BTG enhances and extends the crypto space with a blockchain closely compatible with Bitcoin but without using resources like Bitcoin hash power or vying for the "real Bitcoin" title. The company aims to present a coin with the implementation capabilities of Bitcoin, however, expanding on the opportunities for DeFi and DApp developers to use the coin.

Bitcoin Gold

UNUS SED LEO

Decred is Money Evolved.

By combining battle tested Proof-of-Work with an innovative take on Proof-of-Stake that places coin holders in charge of shaping the future, Decred is able to adapt to challenges and innovate at a rapid pace. You acquire influence in Decred by putting “skin in the game”.

Decred’s security, privacy, scalability, and decentralized treasury empower stakeholders and provides them with the tools needed to enhance their financial sovereignty.

Decred

Huobi Token (HT) is the native token of the cryptocurrency exchange Huobi Global. It is a decentralized digital asset based on the Ethereum blockchain and is ERC-20 compliant. HT’s value is in part reliant upon the reputation of the Huobi crypto exchange, yet other factors also have an impact.

To learn more about this project, check out our deep dive of Huobi Token.

Huobi Token is a relatively young project. It first launched in January 2018, hot on the heels of the release of a native token on rival crypto exchange Binance. Having its own token allows Huobi to build a flexible marketing strategy in order to attract new users and further grow its platform.

One key function of the token is to reduce commissions for trading operations on the exchange, which are usually paid from users' wallets. Yet the token has much more to offer. Using HT, users can purchase monthly VIP-status plans to receive discounts on transaction fees. Token holders have the right to vote on exchange decisions, can receive crypto rewards for seasonal buybacks, and also get early access to special events. HT holders can, at any point, trade the token for other cryptocurrencies.

Huobi Token

Bora is a decentralized ecosystem for games and entertainment. Bora aims to attract games and applications from the GameFi sector to its Bora Chain to avoid building on blockchains like Ethereum that have high gas fees. For that reason, Bora follows a two-tiered blockchain system: the BORA token is traded on the Klaytn blockchain, a public blockchain that is focused on metaverse and gaming use cases. The Bora chain is a modular blockchain that can be used as an execution layer by decentralized applications.

The Bora team provides development toolkits that support developers with creating decentralized applications for its ecosystem. It also utilizes Bora Points, a currency within the ecosystem as a resource for development and to incentivize contribution to Bora. Bora Points can subsequently be converted to the BORA token.

BORA

MiL.k

OKB is a cryptocurrency released by the OK Blockchain Foundation and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world andcurrently ranks third in liquidity, fourth in trading volume, and provides a wide selection of trading pairs. OKEx is similar in many aspects to the cryptocurrency exchange giantBinance, but there are a few key differences. The OKEx platform has its owncloud mining service, and the company has a more focused reach in providing options trading for users. Meanwhile, Binance strives to offer a broad range of crypto services globally.

OKB is the OKEx utility token that enables users to access the crypto exchange's special features. The coin is used to calculate and pay trading fees, grant users access to voting and governance on the platform, and reward users for holding OKB.

OKEx has become a world-leading trading floor since its launch in 2017. The platform launched in the spring of 2017 and emerged as an offshoot from the original OKCoin platform (operating since 2013 in China). OKCoin now focuses on exchanging fiat for crypto, while OKEx focuses on crypto trading with a built-inAPI for algorithmic trading. The exchange also gives users access to a multi-currency wallet and functions formargin trading.

The Neutrino index is a decentralized financial (DeFi) platform based on the Waves blockchain. The platform rebranded its index token from USDN to XTN. Neutrino has two native tokens, XTN and NSBT.

XTN is an algorithmic crypto-collateralized indexcoin backed by three Waves Ecosystem tokens: WAVES, WX and VIRES. XTN's main function is to encourage user participation in the Neutrino by rewarding those who provide liquidity to the system.

The platform’s other token, NSBT (Neutrino System Base Token), is used for governance purposes: it allows users to make decisions about the future development of the Neutrino protocol, and it ensures the stability of collateral reserves on Neutrino’s smart contract.

New NSBT tokens are issued whenever a user locks WAVES tokens on a contract, which serves as additional backing and insures the system against a deficit. Holders can stake to earn on WAVES to XTN swap fees.

Neutrino Index

Yearn.finance is an aggregator service for decentralized finance (DeFi) investors, using automation to allow them to maximize profits from yield farming.

Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committal manner than serious traders.

Launched in February 2020, the service, formerly known as iEarn, has seen huge growth in recent months as new products debuted and developers released in-house token YFI.

yearn.finance

Developed by leading Korean IT company Kakao, Klaytn is a global Layer 1 public blockchain designed to power tomorrow’s on-chain world. With the lowest transaction latency amongst leading blockchains, enterprise-grade reliability, and a developer-friendly environment, Klaytn provides a seamless experience for users and developers that is second to none. Since its launch in June 2019, Klaytn has been accelerating blockchain mass adoption through a broad array of use cases from DeFi to real-world assets, entertainment and gaming, and even the Bank of Korea’s CBDC pilot project. Today, it is one of the only globally competitive Web 3.0 ecosystems developed in South Korea, generating more than 1 billion transactions from over 300 decentralized applications.

Klaytn

Nexo is the world’s leading digital assets institution. The company’s mission is to maximize the value and utility of digital assets by offering a comprehensive suite of products that include advanced trading solutions for retail and institutional clients, aggregation of liquidity from leading venues, and tax-efficient asset-backed credit lines. In early 2022, the enterprise launched its investment arm Nexo Ventures, which now boasts over 60 portfolio companies. Nexo has processed $130+ billion for 6,000,000+ satisfied users across more than 200 jurisdictions.

The NEXO Token is the platform’s native currency, an ERC-20, Ethereum-based token, that grants holders access to tiers in Nexo’s Loyalty Program. The token, which is traded on the open market, brings a number of advantages, including preferential borrowing rates, cash-back, free withdrawals and better yield rates.

Nexo

Bitcoin Cash (BCH) is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy and larger block size. As a permissionless, decentralized cryptocurrency, Bitcoin Cash requires no trusted third parties.

Bitcoin Cash was created as an alternative to the first and most valuable cryptocurrency — Bitcoin (BTC). In 2017, BCH developers modified the BTC code, releasing their software version and a full-fledged competitive product, which split Bitcoin into two blockchains: Bitcoin and Bitcoin Cash. Bitcoin Cash is a result of a hard fork in the blockchain due to differences in the community over Bitcoin scaling and the SegWit upgrade. Moreover, another hard fork, which divided Bitcoin Cash into two parts, Bitcoin ABC and Bitcoin SV, took place in the fall of 2018.

The scaling debate involved two sides: small block supporters opposed increasing block size as it could lead to blockchain centralization and vulnerability by making it harder to host full nodes. Large block supporters, however, advocated for a faster solution, concerned that rising transaction fees could hinder growth.

Bitcoin Cash

Zcash is a decentralized cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.

Contrary to a common misunderstanding, the majority of cryptocurrencies on the market, including Bitcoin (BTC), are not anonymous, but rather pseudonymous; while they do not explicitly reveal the identities of their users, each user has their own public address or addresses which can be traced back to them via the methods of data science and blockchain forensics.

Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent. There is an option, however, to reveal this data for the purposes of auditing or regulatory compliance.

Zcash was first released on October 28, 2016, and it was originally based on Bitcoin’s codebase.

Zcash

NEM is a blockchain platform that was launched in March of 2015. It was one of the pioneers of the cryptocurrency industry, and sought to improve on the imperfections found on other chains at the time. It was one of the first non-turing complete chains to feature user-defined tokens (called mosaics), namespaces, multisignature accounts, and a P2P reputation system based on EigenTrust++. Its most notable contribution to the space is the proof-of-importance consensus mechanism, which sought to reward on-chain activity and deter the concentration of wealth commonly associated with proof-of-stake. Its client, NIS, is written in Java.

NEM has a global community. It sees the most utility as an alternative form of payment for businesses and vendors, and has a variety of social media apps built on top of it in Japan, such as nemgraph, a community-driven owned and operated alternative to Instagram.

In December 2021, NEM was hard forked by a pseudonymous team of cryptocurrency experts and enthusiasts alike. Titled Harlock, this hard fork signaled the community’s intent to take NEM from a shadow of its former self into the world’s leading payments platform for on-chain and off-chain media content.

Gnosis is a collective of aligned projects revolutionizing payments infrastructure to make decentralized financial tools accessible and usable for all. The Gnosis ecosystem is underpinned by Gnosis Chain, a highly secure, resilient, and decentralized EVM Layer 1 network and also includes the venture-building arms, Gnosis Studio and GnosisVC, the developer, investor, and incubator of a host of leading decentralized solutions.

These projects are creating a radically inclusive infrastructure helping bridge the gap between blockchain technology and practical, everyday applications/use cases.

Gnosis

Theta Fuel

MediBloc (MED) is a South Korean-based decentralized blockchain protocol for the healthcare industry through which medical institutions can securely transfer, collect, store and manage data. With MediBloc, physicians can access patient information, medical history, prescribed medication, insurance issues and more. MediBloc makes medical data more accessible by allowing everyone involved to track and record medical conditions, appointments, examinations, treatments and more.

The ecosystem is built on three key elements: MediBloc Core (a layer for storing data and providing additional storage), MediBloc Application (a layer for accessing and managing data through various applications), and MediBloc Service (a layer applying smart contract technology that connects the other layers and allowing input and output of data).

The platform offers three categories of accounts: for general users (patients), healthcare providers (doctors and medical institutions) and data scientists, the latter two require proof of their accreditation. The project is aimed at improving the quality of medical services and infrastructure by optimizing information storage processes and giving users sovereignty over their own data. MediBloc is compliant with the HIPAA Security Rule, the Health Insurance Portability and Accountability Act.

MediBloc

KCS is the native token of KuCoin, which was launched back in 2017 as a profit-sharing token that allows traders to draw value from the exchange. It was issued as an ERC-20 token running on the Ethereum network and was supported by most Ethereum wallets. The total supply of KCS was set at 200 million, and there is a planned buyback and burn until just 100 million KCS remain. Sooner or later, as the KuCoin decentralized trading solution goes live, KCS will be the native asset of KuCoin's decentralized financial services as well as the governance token of the KuCoin community in the future.

KuCoin has also announced that “Empowering KCS'' will be a key priority of KuCoin and will build KCS as a killer product rather than a simple token, which is bound to further diversify the benefits that KCS holders can access. In the long run, KCS performs as the key to the entire KuCoin ecosystem. With the development of DEX and KuChain, KCS will also be the underlying fuel and general token for future KuCoin decentralized products. More details will likely be released in the near future.

KuCoin Token

Dash is an open-source blockchain and cryptocurrency focused on offering a fast, cheap global payments network that is decentralized in nature. According to the project's white paper, Dash seeks to improve upon Bitcoin (BTC) by providing stronger privacy and faster transactions.

Dash, whose name comes from "digital cash," was launched in January 2014 as a fork of Litecoin (LTC). Since going live, Dash has grown to include features such as a two-tier network with incentivized nodes, including "masternodes," and decentralized project governance; InstantSend, which allows for instantly settled payments; ChainLocks, which makes the Dash blockchain instantly immutable; and PrivateSend, which offers additional optional privacy for transactions.