Cryptocurrency Q&A
Which network is busd on?
Which network is busd on?
CherryBlossomGrace
Tue Jul 30 2024
|
7 answers
1346
Excuse me, could you please clarify which network the Binance USD (BUSD) token is based on? As a cryptocurrency enthusiast, I'm particularly interested in understanding the technical infrastructure that supports this stablecoin. Is it built on a blockchain such as Ethereum, Binance Chain, or perhaps another platform entirely? Your insight would be greatly appreciated.
7 answers
KpopHarmonySoul
Thu Aug 01 2024
The stability of BUSD is achieved through a collateralization process, where each BUSD token is backed by an equivalent amount of US Dollars held in reserve. This ensures that the value of BUSD remains anchored to the US Dollar, regardless of market fluctuations.
Was this helpful?
203
38
CryptoVisionary
Thu Aug 01 2024
Binance USD, commonly referred to as BUSD, is a stablecoin that operates within the Ethereum blockchain ecosystem. This digital asset is designed to maintain a stable value relative to a real-world asset, typically the US Dollar.
Was this helpful?
239
27
HallyuHeroLegendaryStarShine
Thu Aug 01 2024
BUSD's primary purpose is to offer traders and investors a reliable and low-volatility store of value within the highly volatile cryptocurrency market. By mirroring the value of the US Dollar, BUSD provides a safe haven for those seeking to hedge against market uncertainty.
Was this helpful?
101
34
OceanSoul
Wed Jul 31 2024
With BTCC, users can buy, sell, and trade BUSD tokens in real-time, taking advantage of the exchange's robust trading engine and deep liquidity pools. BTCC also offers a range of additional services, such as spot and futures trading, as well as secure wallet solutions for storing digital assets.
Was this helpful?
120
56
Martino
Wed Jul 31 2024
BUSD's integration with the Ethereum network enables seamless transactions and smart contract capabilities. This allows users to easily trade, store, and transfer BUSD tokens across various decentralized applications and platforms.
Was this helpful?
386
69
Load 5 more related questions
