Embark on a journey into the dynamic world of cryptocurrency with SatScan, a game-changer in the pursuit of rare sats within the Bitcoin network. In this article, we explore the unique concept of SatScan, unraveling the intricacies of BRC20 tokens, rare sat hunting, and the ingenious automation powered by the ScanBot.
What is BRC20?
BRC-20 tokens, a revolutionary token standard on the Bitcoin blockchain, have transformed the cryptocurrency landscape by extending Bitcoin’s functionality beyond peer-to-peer transactions. These fungible digital assets are distinct, being directly inscribed onto Bitcoin’s satoshis through JSON code, allowing for token creation and transfer within the Bitcoin ecosystem.
Uniqueness and Advantages of BRC20
- Compatibility with Bitcoin
BRC-20 tokens leverage the established infrastructure and security of the Bitcoin network. - Simplicity
The creation process is simpler compared to other token standards that require complex smart contracts. - Security
Enhanced security is achieved due to the robustness of the Bitcoin blockchain.
What is SatScan?
SatScan is a groundbreaking project designed to democratize the process of hunting for rare sats within the Bitcoin network. Utilizing advanced automation through their ScanBot, SatScan aims to make sat hunting accessible to a broader audience while maximizing yield.
Uniqueness and Advantages of SatScan
- Automation with ScanBot: SatScan leverages the ScanBot to automate the sat hunting process
- Accessible Yield: By staking the $SCAN token, users can claim BTC profits from rare sat hunting, even with relatively low amounts of Bitcoin.
What is Rare Sat hunting?
Rare sat hunting is the meticulous process of identifying and isolating rare sats within the Bitcoin network. It involves depositing and withdrawing Bitcoin repeatedly until these unique satoshis are discovered.
What are Rare Sats?
Rare sats possess special attributes that set them apart from regular satoshis. For instance, those mined immediately after a Bitcoin halving event are considered “epic sats” by the Rodarmor Rarity Index, contributing to their uniqueness and market demand.
How does SatScan work and distribute yield?
SatScan operates seamlessly through its advanced automation, primarily driven by the ScanBot. The following steps outline the intricate process by which SatScan identifies rare sats and distributes yield:
- Bot Programming: The ScanBot is intricately programmed with the sophisticated capability to discern rare sats within the Bitcoin network.
- Deposit and Withdrawal Process: The bot initiates the rare sat hunting process by repetitively depositing and withdrawing BTC into an exchange from the exchange hot wallet. This meticulous cycle is repeated until the rare sats are successfully located.
- Identification and Transfer: Once the rare sats are identified, the bot transfers the Bitcoin containing these unique satoshis to the Sparrow wallet.
- UTXO Separation: Within the Sparrow wallet, the bot meticulously separates the rare sat into its own Unspent Transaction Output (UTXO), ensuring precision in the subsequent steps.
- Transfer to xVerse Wallet: The rare sat, now encapsulated within its dedicated UTXO, is transferred to the team xVerse wallet. This wallet is specifically designed to support and manage rare sats.
- Market Sale of Rare Sats: SatScan strategically sells the rare sats on the open market, capitalizing on their uniqueness and high demand within the cryptocurrency ecosystem.
- Profit Redistribution: The proceeds from the rare sat sales are systematically redistributed to $SCAN stakers. This distribution occurs once the official hunting period concludes, which spans a two-week duration.
- Staker Profit Claiming: Stakers actively participating in the SatScan ecosystem can claim their profits every two weeks, providing a consistent and transparent reward mechanism.
$SCAN Information
- Total supply: 10,000,000
- $SCAN as a BRC20 Token: $SCAN is a BRC20 token, representing ownership in the SatScan project.
- Staking for Yield: Owners of $SCAN can stake their tokens to become eligible for hunting yield, determined by the staking percentage.
Stake $SCAN
Staking $SCAN is the gateway to claiming BTC profits from rare sat hunting. Users staking $SCAN tokens are directly involved in supporting and benefiting from the automated rare sat hunting process facilitated by SatScan. You can stake $SCAN and get APY up to 60%. APY fluctuates based on the price of $SCAN, the price of rare sats, and the randomness of rare sat hunting.
Conclusion
By combining the power of automation with the $SCAN token, SatScan not only simplifies the process but also ensures that the benefits of rare sat hunting are accessible to a broader audience. As the project continues to evolve, the potential for substantial returns, demonstrated by an impressive up to 60% APY, highlights the significance of SatScan in the ever-expanding landscape of cryptocurrency ventures.
