Cryptocurrency Q&A
What chain is Busd on?
What chain is Busd on?
Ilaria
Thu Aug 01 2024
|
5 answers
1319
Excuse me, could you please clarify for me which blockchain network does the Binance USD (BUSD) stablecoin operate on? I'm trying to understand the underlying technology that supports this cryptocurrency and its transactions. I'm aware that stablecoins often leverage existing blockchain platforms for their infrastructure, so I'm curious about BUSD's specific choice in this regard. Your insight would be greatly appreciated.
5 answers
Elena
Sat Aug 03 2024
BUSD operates on the Ethereum blockchain, leveraging its robust network and smart contract capabilities. This integration allows for seamless transactions and interoperability with other decentralized applications and protocols.
Was this helpful?
379
52
DongdaemunTrendsetting
Sat Aug 03 2024
One of the key advantages of BUSD is its ability to be issued and redeemed without any additional fees. This feature makes it an attractive option for investors and traders who prioritize cost-effectiveness in their digital asset holdings.
Was this helpful?
232
44
EchoChaser
Sat Aug 03 2024
BUSD, a 1:1 USD-backed stablecoin, has gained approval from the prestigious New York State Department of Financial Services (NYDFS). This endorsement underscores its credibility and reliability in the digital asset space.
Was this helpful?
280
55
Eleonora
Sat Aug 03 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive suite of services that cater to the diverse needs of the cryptocurrency community. These services include spot trading, futures trading, and a secure wallet solution, among others.
Was this helpful?
265
61
alexander_jackson_athlete
Sat Aug 03 2024
The stablecoin, BUSD, is jointly issued by Paxos and Binance, two reputable entities in the cryptocurrency and financial technology sectors. This collaboration ensures the smooth operation and widespread adoption of BUSD.
Was this helpful?
163
30
