What is Portal To Bitcoin (PTB)? Bitcoin-Ethereum Cross-Chain Token on Bittime

Portal To Bitcoin (PTB) is a decentralized cross-chain exchange infrastructure based on the Bitcoin network, aimed at extending Bitcoin from 'digital gold' to a programmable DeFi settlement layer.

PTB enables cross-chain asset exchanges such as Bitcoin, Ethereum, and Solana (SOL) without involving third parties, eliminating the security risks often found in traditional cross-chain bridges.

One of PTB's key advantages is the absence of a custodial mechanism, ensuring that user funds are not handed over to third parties but rather that each transaction is conducted directly through verifiable contracts on the blockchain.

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How Portal To Bitcoin (PTB) Works

Portal To Bitcoin works by integrating BitScaler technology, allowing direct cross-chain exchange between Bitcoin and Ethereum, without relying on centralized bridges or third parties.

It uses atomic contracts to ensure that transactions can be performed securely and verified on the blockchain.

By using this mechanism, Portal not only solves the interoperability issue between blockchains but also reduces transaction fees and enhances efficiency.

Token Information - PTB Token

Portal To Bitcoin (PTB) is a cross-chain token that facilitates non-custodial transactions across various blockchain networks. Here are the detailed token information for PTB:

Token Details:

• Token Name: Portal To Bitcoin (PTB)
   
• Token Symbol: PTB
   
• Network: Ethereum (ERC-20), with cross-chain compatibility with Bitcoin and other Layer-2 networks.
   
• Total Supply: 8.4 billion PTB
   
• Decimal Precision: 18 decimal places
   
• Token Address: 0x30a25cc9c9eade4d4d9e9349be6e68c3411367d3
   

Tokenomics Overview:

• Deflationary Model: A 0.3% fee is charged on every swap transaction, with 50% of this fee used to buy back and burn PTB tokens, reducing the circulating supply over time.
   
• Staking: PTB can be staked to participate in the network as a validator, with rewards from transaction fees and block rewards.
   

• Incentives:

  1) Validator Staking: Validators can compete for a monthly validator node position and earn rewards for processing transactions and validating blocks.

  2) Lite Node Incentives: Lite nodes help secure the network and are rewarded with PTB tokens.

  3) Liquidity Provider (LP) Dividends: Liquidity providers earn 100% of transaction fees and 66% of PTB issuance rewards.

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Distribution and Unlocking Mechanism:

• Shareholder Distribution: 29.80% - Locked for 12 months with linear release over 36 months to ensure long-term commitment.
   
• Foundation Treasury: 11.40% - Locked for 1 month with linear release over 60 months to support strategic initiatives.
   
• Ecosystem Development: 10.20% - Locked for 6 months with linear release over 48 months to drive ecosystem growth.
   
• Liquidity Supply: 8.10% - Released linearly over 6 months to ensure healthy trading conditions.
   
• Airdrop Rewards: 2.60% - Distributed 33% at TGE, then another 33% after 3 and 6 months.
   
• Release Plan: 37.40% - Continuous release over 10 years to incentivize network participants, including validators, liquidity providers, and lite nodes.
   

Use Cases:

• Validator Staking: PTB holders can participate in securing the network by staking their PTB tokens and earn rewards based on the amount staked.
   
• Cross-Chain Transactions: PTB is used for cross-chain trading, enabling users to exchange assets between Bitcoin, Ethereum, and other supported chains securely.
   
• Governance and Voting: PTB holders can participate in governance decisions, such as voting on network upgrades and improvements.
   

Conclusion

Portal To Bitcoin (PTB) is more than just an ordinary cross-chain protocol. It represents the next evolutionary step for Bitcoin in the wider crypto ecosystem, tackling interoperability challenges and introducing infrastructure that can support DeFi on the Bitcoin network.

With innovative tokenomics and the application of secure BitScaler technology, Portal offers opportunities for users and investors to participate in building the infrastructure that will take Bitcoin further in the DeFi world.

While the price of PTB may show a downtrend in the short term, technical indicators such as Stochastic RSI suggest a potential recovery. If you're interested in tapping into PTB's long-term potential, this could be an intriguing opportunity.

Don't miss the chance to explore more about PTB at Bittime Exchange or read the latest news on Bittime Blog.

How to Buy Crypto at Bittime

Want to trade buy buy Bitcoin and invest in crypto easily? Bittime is here to help! As an officially registered crypto exchange in Indonesia, Bittime ensures every transaction is secure and fast.

Start by registering and verifying your identity, then deposit a minimum of Rp10,000. After that, you can directly buy your favorite digital assets!

Check the rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to check today's crypto market trends in real-time at Bittime.

In addition, visit Bittime Blog to get interesting updates and educational information about the crypto world. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the crypto world.

FAQ

What differentiates Portal from other cross-chain protocols?

Portal is the only cross-chain protocol that does not require a custodian, enabling truly secure asset exchanges through BitScaler technology without centralized bridges or wrapped assets.

What is the main use of the PTB token?

The PTB token is used for validator staking, network management, transaction fee payments, and capturing the protocol value through a buyback and burn mechanism.

How can I participate in the Portal ecosystem?

Users can participate as validators, lite nodes, or liquidity providers, each earning PTB rewards accordingly.

How is the security of Portal guaranteed?

Security is guaranteed through a non-custodial design, atomic swap mechanism, multi-party verification, and comprehensive security audits to ensure that funds remain safe.

How can I buy PTB tokens?

PTB tokens can be purchased on various listed platforms, including Bittime Exchange.