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Bitcoin Standard Hashrate Token (BTCST) is a cryptocurrency designed to enable users to benefit from the appreciation of Bitcoin Hashrate. The token is part of an innovative effort to leverage the value of Bitcoin’s network security as a form of financial asset. BTCST is a ERC-20 token running on the Ethereum Network and is managed by a Decentralised Autonomous Organisation (DAO).
BTCST was created by the Bitcoin Standard Group in early 2020 to provide users with access to the appreciation of Bitcoin Hashrate. The token is designed to track the performance of the Bitcoin network hashrate, with each token representing the equivalent of one TH/s of Bitcoin mining power. Furthermore, users can stake their tokens to receive rewards in BTCST tokens. Through BTCST, users can now benefit from the appreciation of Bitcoin Hashrate without having to invest in and manage expensive mining rigs. Additionally, users can also benefit from the increased security of the Bitcoin network as the hashrate increases.