BUSD

Date:2022-03-25 20:44:21

(BUSD) Introduction

BUSD abbreviation:BUSD

Release date : 15/09/2019
  • Project basic information


Issue Time:2019-09-15

Total Supply:12.729.654.323

Circulation :12.729.654.323

White paper:https://www.allcryptowhitepapers.com/binance-usd-whitepaper/

Website:https://paxos.com/busd/

Block Explorer:https://blockchair.com/tr/binance-usd



  •  Project Introduction

BUSD is a stablecoin founded by Paxos and Binance. Paxos uses blockchain technology to offer their Stablecoin as a Service product to external companies. In the past, they also created a gold-backed stablecoin called PAX Gold (PAXG). The New York State Department of Financial Services regulates both BUSD and PAXG tokens.On a technical level, BUSD is a fiat-backed stablecoin that maintains a U.S. dollar peg. An amount of U.S. dollars equal to the total supply of BUSD is held in custody by Paxos, acting as its reserves in FDIC-insured U.S. banks. When the price of the U.S. dollar rises or falls, the price of BUSD also does in equal amounts. This is the most common and traditional model of stablecoin.BUSD offers three key attributes to transactions: accessibility, flexibility, and speed. The token is easily accessible through Paxos or Binance. You can purchase them through Binance’s exchange or fiat gateway services, or send an amount in U.S. dollars to Paxos to mint new BUSD tokens for you.BUSD also offers flexibility in allowing crypto users to quickly turn their holdings into a stable asset without moving off the blockchain. Finally, by using BUSD, a user can quickly send money around the globe with nominal fees.The token exists on three different blockchains: Ethereum, Binance Smart Chain, and Binance Chain. Holders can swap their tokens between the blockchains depending on their needs. This can be done on the Binance exchange (when making withdrawals) or through Binance Bridge.


Specification

Frontend Title:BUSD Symbol:BUSD English abbreviation:BUSD
Developers:Changpeng Zhao, Yi He The core algorithm:SHA256 Release date:15/09/2019
Block speed:18 Circulating Supply:12.729.654.323 Stock:12.729.654.323
Proof way:https://bscscan.com/token/0xe9e7cea3dedca5984780ba Difficulty adjustment: Block Bonus::
Key Features:
Shortcomings::