What is PBTC? Understanding Purple Bitcoin Live on Bitrue Alpha

Purple Bitcoin (PBTC) is a Solana-based token that follows the same 21 million fixed supply model as Bitcoin. 

It aims to maintain scarcity while using a more efficient and affordable network. PBTC includes a built-in burn system, has renounced ownership, and is secured by an immutable contract. 

This article explains how PBTC works, how it handles its burn process, and how to buy it directly on Bitrue Alpha.

What Makes PBTC Different from Bitcoin?

PBTC keeps the same total supply as Bitcoin: 21 million tokens. This fixed cap helps support scarcity and makes the token predictable in terms of supply. 

Unlike Bitcoin, which relies on mining, PBTC uses Solana’s system to validate transactions. This allows it to handle many more transactions in less time and with lower fees.

The PBTC model also includes a burn process. Every transaction includes a small fee in SOL. These fees are collected into a smart contract. 

Over time, the contract uses the collected SOL to buy PBTC from the open market. The purchased PBTC is then permanently removed from circulation.

Because of this ongoing burn process, the supply of PBTC gradually decreases. This is different from Bitcoin, where the total supply remains fixed after all coins are mined. With PBTC, the supply not only stays capped but also slowly reduces over time.

The project has renounced ownership, which means no one can change the contract or mint new tokens. The smart contract is also immutable. These decisions are meant to prevent interference and give users confidence in the rules staying the same.

In short, PBTC takes the main idea of Bitcoin’s limited supply but moves it to a faster and less expensive blockchain, while also reducing the supply over time through a built-in burn process.

Read more: Can I Use Bitrue Alpha as a Beginner? A Full Guide

How the PBTC Burn Process Works

PBTC uses a structured burn process with several steps. Every time someone makes a transaction, a small amount of SOL is collected as a fee. 

This fee is not lost or given to the team, it is stored in a smart contract that later uses the SOL to buy PBTC tokens from the market. Once purchased, those tokens are burned, meaning they are removed from circulation and cannot be recovered.

The burn process is divided into three stages. First is the initialization stage, where the transaction is checked to make sure all required details are correct. 

Then comes the validation stage, where ownership and metadata are verified. Lastly, the execution stage confirms the token burn and resets balances.

The system uses specific checks at each stage to prevent errors or manipulation. Memory points in the contract are used to track changes across the three steps. 

The function that handles this includes built-in protection to make sure everything runs properly and in the right order.

This method takes slightly longer than a standard token burn but includes more checks and tracking. The system can also adjust the rate of burn depending on how many transactions are happening. If more people are using PBTC, more tokens are burned.

This approach means that PBTC does not rely on a set schedule or percentage. It adjusts based on use, which can help keep the supply in check even if trading activity changes. 

The whole process is recorded on-chain, so users can verify that burns are happening and that the system works as described.

Read more: Solana Crypto News: Trends, Updates & Predictions for SOL

An Analysis of PBTC’s Current Condition

From recent data, PBTC is priced at $0.99, with a trading pair against SOL. The market cap is around $19.1 million, and total volume in the last 24 hours is over $760,000. Buys and sells are nearly equal, with a slight increase in buyer interest.

More than 4,000 transactions have taken place recently, and liquidity stands at around $659,000. 

This suggests PBTC is gaining attention from active traders, likely due to its scarcity model and the added burn process that reduces supply over time.

If you want to buy PBTC, Bitrue Alpha is one of the easiest places to do it. As a Solana-based token, PBTC is paired with SOL. You can buy it directly from Bitrue Alpha by following a few steps:

1. Create or log into your Bitrue account.
2. Enable two-factor authentication to secure your account.
3. Go to the Bitrue Alpha section and search for PBTC.
4. Select the PBTC pair.
5. Choose between market or limit order to complete your trade.
6. Once done, check your spot wallet to confirm the PBTC tokens have arrived.

Bitrue Alpha also provides charts and live price data, helping you track how PBTC is performing. The interface is simple, which makes it easier for new users to navigate.

Read more: Is Bitrue Alpha Worth It? Give it A Try Now

Conclusion

Purple Bitcoin combines a fixed supply with a system that actively reduces available tokens over time. 

It uses Solana’s network for speed and cost savings, making it easier to use than traditional tokens with similar goals. With secure, automated processes and no way to change the contract or mint more tokens, PBTC operates with set rules that users can trust.

For those interested in trading or holding PBTC, Bitrue Alpha provides a straightforward way to access this token. It supports fast transactions, has built-in market tools, and is designed to make buying PBTC simple and secure.

Frequently Asked Questions

1. How many PBTC tokens exist?

PBTC has a fixed total supply of 21 million tokens, just like Bitcoin.

2. Is PBTC a Bitcoin copy?

PBTC uses the same supply model as Bitcoin but runs on Solana and includes a burn system to reduce supply over time.

3. Where is PBTC available for trading?

You can buy and trade PBTC on Bitrue Alpha using the PBTC/SOL trading pair.

Investor Caution 

While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

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Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.