Steemit Crypto Academy Week 9 - Homework Post for @yohan2on | Season 2: Altcoins – Part1 | Binance coin (BNB)
Hi, Steemians!
This article is my homework for the 9th week of Steemit Crypto Academy - Season 2: Altcoins – Part1.
Professor @yohan2on explained "Types and Examples of Altcoins" and
"The Pros of Altcoins - Cons of Altcoins" in this course.
Now, I will briefly explain the Altcoin named BNB .
Introducing Altcoins
What are Altcoins?
Alternative cryptocurrencies, or altcoins, were created in the aftermath of Bitcoin's popularity. They present themselves as safer alternatives to Bitcoin in general. The advent of Bitcoin as the first peer-to-peer digital currency paved the way for many more to follow. Most altcoins are attempting to address some perceived Bitcoin flaws by developing tactical advantages in newer models.
Every altcoin has its own set of advantages, ranging from shorter checkout times to more effective cross-border transfers, and could be better tailored to individual needs than the most common member of the family, Bitcoin, depending on what you're looking for.
BINANCE
What is Binance ?
Binance was founded by Changpeng Zhao and Yi He, in China in 2017.
It is one of the world’s leading cryptocurrency exchanges.
Binance is a cryptocurrency platform where users can swap their coins. Most of the most widely exchanged cryptocurrencies are supported.
It provides its traders with a crypto wallet in which they can store their Cryptocurrencies.
Binance Website
Binance Coin – BNB
BNB is intended to help the Binance exchange and its environment run more smoothly. It provides a variety of services on the Binance exchange, including trading fees, exchange fees, listing fees, and all other fees. The Binance coin has received funding from a number of collaborations, which has aided in its adoption.
Binance has set a limit of 200 million BNB tokens. During the ICO, 100 million tokens were distributed to the general public, with 80 million going to the founding party and 20 million going to angel investors.
Binance intends to burn half of its overall stock, or 100 million tokens, over time to combat the valuation depreciation that would occur as a result of the annual diminishing discount. The ultimate aim of "The Burn" is to keep the price of BNB stable over time.
Till today Binance burned a total of 1,099,888 BNB, equivalent to $595,314,380 (USD) worth of tokens. Source
Technical Overview of BNB
All-time line Chart BNB
BNB is currently trading at $473.36 - and the ATH price was at $637.44 / Apr 12, 2021.
The currently marketcap is at $72,769,466,480 and the 24h Volume at $6,590,988,698.
First 10 Exchanges - for BNB/USDT
Cc;
Thank you Professor @yohan2on
@yohan2on