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What is cryptocurrency and how does it work?
What is cryptocurrency and how does it work?Cryptocurrency – meaning and definitionCryptocurrency, sometimes called crypto-currency or crypto, is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don't have a central issuing or regulating authority, instead using a decentralized system to record transactions and issue new units.What is cryptocurrency?Cryptocurrency is a digital payment system that doesn't rely on banks to verify transactions. It’s a peer-to-peer system that can enable anyone anywhere to send and receive payments. Instead of being physical money carried around and exchanged in the real world, cryptocurrency payments exist purely as digital entries to an online database describing specific transactions. When you transfer cryptocurrency funds, the transactions are recorded in a public ledger. Cryptocurrency is stored in digital wallets.Cryptocurrency received its name because it uses encryption to verify transactions. This means advanced coding is involved in storing and transmitting cryptocurrency data between wallets and to public ledgers. The aim of encryption is to provide security and safety.The first cryptocurrency was Bitcoin, which was founded in 2009 and remains the best known today. Much of the interest in cryptocurrencies is to trade for profit, with speculators at times driving price$Follow for such more article 😊 #BTC #etf #BinanceSquareCreatorAwards #binanace
BounceBit is a BTC restaking chain with an innovative CeDefi framework. Through a CeFi + DeFi framework, BounceBit empowers BTC holders to earn yield across multiple sources.
The $BB token has several uses on the BounceBit platform:
Staking: Stake $BB to actively participate in the PoS dual-token staking mechanism.
Protocol Incentive: The token is paid out as staking reward to validators who secure the network.
Gas: $BB is the denomination of the gas fees that are required to conduct transactions and execute smart contracts.
Governance: Use $BB to participate in on-chain governance, e.g. voting on protocol upgrades.
Currency: $BB can be used as currency on the BounceBit platform. It can be used in various applications and infrastructure, as medium of exchange or store of value.
BounceBit’s Layer 1 consists of the following components:
Dual-token PoS: A hybrid consensus mechanism where each validator can accept both $BBTC and $BB tokens;
Native LSD module: A module allowing the delegation of staking to validators and receiving a LST voucher in return.
BounceBit has a foundational CeFi layer which consists of below components:
Regulated Custody: All user funds are stored in secure custody solutions utilizing MPC wallets.
Off-Exchange Settlement (OES): OES enables safe access to CEX liquidity, while transactions are settled off-exchange.
The project has raised 7.98M USD from its past fundraising event.
The total supply of $BB is 2,100,000,000 and the circulating supply upon listing will be 409,500,000 (19.50% of the total token supply).#binanace #dubai
The $BB token has several uses on the BounceBit platform:
Staking: Stake $BB to actively participate in the PoS dual-token staking mechanism.
Protocol Incentive: The token is paid out as staking reward to validators who secure the network.
Gas: $BB is the denomination of the gas fees that are required to conduct transactions and execute smart contracts.
Governance: Use $BB to participate in on-chain governance, e.g. voting on protocol upgrades.
Currency: $BB can be used as currency on the BounceBit platform. It can be used in various applications and infrastructure, as medium of exchange or store of value.
BounceBit’s Layer 1 consists of the following components:
Dual-token PoS: A hybrid consensus mechanism where each validator can accept both $BBTC and $BB tokens;
Native LSD module: A module allowing the delegation of staking to validators and receiving a LST voucher in return.
BounceBit has a foundational CeFi layer which consists of below components:
Regulated Custody: All user funds are stored in secure custody solutions utilizing MPC wallets.
Off-Exchange Settlement (OES): OES enables safe access to CEX liquidity, while transactions are settled off-exchange.
The project has raised 7.98M USD from its past fundraising event.
The total supply of $BB is 2,100,000,000 and the circulating supply upon listing will be 409,500,000 (19.50% of the total token supply).#binanace #dubai
💫 BINANCE IS THE WORLD BEST CEX
💯 You are always safe here
$BTC $ETH $BNB
#BinanceLaunchpool #bitcoinhalving #binanace
💯 You are always safe here
$BTC $ETH $BNB
#BinanceLaunchpool #bitcoinhalving #binanace
Are you looking for a most profitable project? Then I introduce you the most growing project & it cannot stop untill it’s at the top 🚀 That is $OFN (Openfabric)
I saw Openfabric is a huge hype able project in this ai revolution. And the most exciting news is we are approved by Nvidia's. So Don’t forger to drive into Openfabric. I got 4000$+ from open fabric.
👉And did you know it just give 30X from ido!!
👉$OFN got 500% return of ROI
So guys don’t miss the profitable chance. Make a great invest in OFN & take a huge profit with me🐬
🫳Hey #binanace you should list Openfabric 🚀
#TrendingTopic #trade2earn #binance- #binanacesquare #Write2Earn #OFN
I saw Openfabric is a huge hype able project in this ai revolution. And the most exciting news is we are approved by Nvidia's. So Don’t forger to drive into Openfabric. I got 4000$+ from open fabric.
👉And did you know it just give 30X from ido!!
👉$OFN got 500% return of ROI
So guys don’t miss the profitable chance. Make a great invest in OFN & take a huge profit with me🐬
🫳Hey #binanace you should list Openfabric 🚀
#TrendingTopic #trade2earn #binance- #binanacesquare #Write2Earn #OFN
Signup with my refferel & you got 500usdt
click here : 500USDT GIFT
#binanace #binanacereward #binancegift
#NewYearGiveaway
click here : 500USDT GIFT
#binanace #binanacereward #binancegift
#NewYearGiveaway
Injective is now officially integrated with the @binance Web3 Wallet!
Interact with native $INJ and the broader Injective ecosystem with a seamless wallet experience created by one of the largest crypto companies globally. $INJ
#InjectiveTurns2 #Web3Wallet #binanace #Blur #BNBecosystem
Interact with native $INJ and the broader Injective ecosystem with a seamless wallet experience created by one of the largest crypto companies globally. $INJ
#InjectiveTurns2 #Web3Wallet #binanace #Blur #BNBecosystem
$BTC Bitcoin has not been able to sustain its upward movement and is now challenging the key support range of $59,000-$60,000, as predicted previously. This range holds significant importance for BTC, and a drop below $59,000 could trigger panic selling in the market. It is advisable to set tight stop-loss orders for all active positions. The following substantial support level is anticipated around $50,000-$53,000. The recent news of CZ's 4-month incarceration is cited as the one of the reason for this price decline.
#binanace #BTCEvent #bnb
#binanace #BTCEvent #bnb
🚨 Big Breaking
Binance Collaborates with Indian Authorities to Dismantle Online Fraud Scheme
On May 3, Binance's Financial Crime Compliance (FCC) department worked closely with the Indian Enforcement Directorate (ED) to uncover and disrupt the E-Nugget scam, a fraudulent digital investment program masquerading as a gaming platform.
Through thorough blockchain analysis and coordinated ground operations, the joint effort successfully identified and froze 42 digital asset accounts linked to the scam, totaling approximately $6 million in illicit proceeds. Additionally, hundreds of related bank accounts were also identified.
This collaboration demonstrates Binance's commitment to supporting law enforcement agencies in combating financial crimes and promoting a safer crypto environment."
#binanace #BTC
Binance Collaborates with Indian Authorities to Dismantle Online Fraud Scheme
On May 3, Binance's Financial Crime Compliance (FCC) department worked closely with the Indian Enforcement Directorate (ED) to uncover and disrupt the E-Nugget scam, a fraudulent digital investment program masquerading as a gaming platform.
Through thorough blockchain analysis and coordinated ground operations, the joint effort successfully identified and froze 42 digital asset accounts linked to the scam, totaling approximately $6 million in illicit proceeds. Additionally, hundreds of related bank accounts were also identified.
This collaboration demonstrates Binance's commitment to supporting law enforcement agencies in combating financial crimes and promoting a safer crypto environment."
#binanace #BTC
More winning to those who did not give up, on Bitcoin. Elon musk, Peter Brandt and many others hold on as the price is moving to $65k #BTC #binanacewish #BinanceSquareAnalysis #binanace
