#BounceBit

BounceBit (BB): The First Native Restaking Blockchain for Bitcoin

New User

2024-04-26 |  5m

What is BounceBit (BB)?

BounceBit (BB) is the first native staking blockchain for Bitcoin. It introduces a new approach to staking through a dual token system. This innovative platform leverages the security of Bitcoin along with full compatibility with the Ethereum Virtual Machine (EVM) to provide users with a convenient and secure restaking experience.

How BounceBit (BB) Works

1. Dual Token Staking Mechanism

BounceBit offers a unique dual token restaking mechanism. By staking both Bitcoin and BounceBit (BB) tokens, participants play a vital role in the security of the network. This approach not only increases security but also introduces a diverse stakeholder base and helps increase the resilience of the ecosystem.

2. Proof-of-Stake Consensus

BounceBit adopts a Proof-of-Stake (PoS) consensus mechanism, known as Dual-Token PoS, where validators stake BB and/or BBTC (BounceBit’s native token backed by Bitcoin) to record and verify transactions on the network. In return, validators receive transaction fees as staking rewards.