Cryptocurrency Q&A
What does BUSD coin stand for?
What does BUSD coin stand for?
SamuraiWarriorSoulful
Mon Nov 04 2024
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6 answers
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I've been hearing about this BUSD coin recently and I'm wondering what it actually stands for. I know it's some kind of cryptocurrency, but I'd like to understand the acronym and what it represents.
6 answers
henry_harrison_philosopher
Wed Nov 06 2024
Binance USD, also known as BUSD, operates on the Ethereum blockchain.
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BitcoinBaroness
Wed Nov 06 2024
This digital asset is classified as a stablecoin, meaning its value is designed to remain stable against a specific asset, typically a fiat currency.
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henry_miller_astronomer
Tue Nov 05 2024
In the case of BUSD, the company that developed the protocol is tasked with maintaining reserves that fully back each token in circulation.
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DigitalTreasureHunter
Tue Nov 05 2024
These reserves serve as a guarantee that the stablecoin's value will not fluctuate significantly, providing users with a reliable and stable digital asset.
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IncheonBeautyBloomingRadiance
Tue Nov 05 2024
The company behind BUSD must ensure that its reserves are sufficient to cover the total number of tokens issued, maintaining trust and transparency in the market.
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