Thank you teacher @yohan2on for the beautiful classroom. I am honored to be able to start this work today from Season 2. Today's lesson is about Altcoins and their types. Thank you our dear teacher for such good topics @yohan2on

Altcoins

Besides Bitcoin, Altcoins are other cryptocurrencies. It was established in 2013 after launching Bitcoin in 2009. There are different Altcoins, such as BNB, Tron, etc. Everyone has their own way of working. Consider Steem, it will reward people who work hard on content. They are the altcoin they use is SBD

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What is BNB

It is a cryptocurrency created by Binance Exchange. It is the most famous coin in the world and has a high reputation. The token was created under the Ethereum blockchain, so it has multiple use cases. For example, paying commissions on Binance. The exchange seeks to use this coin to implement a decentralized trading system for its users, and as more and more exchanges accept this cryptocurrency, they are trying to expand its use to other levels. The future of the powerful cryptocurrency is very promising.

how does it work?

The Binance coin is based on the Ethereum token. It uses the blockchain technology of Bitcoin and has an open source software made up of a cluster system. That is, its structure has a data foundation with several allocation units. On the one hand, it increases the confidence of the system and speeds up the search for data. On the other hand, due to fragmentation, they organize memory.

Where to use BNB?

It is used primarily for the Binance exchange because it is the native machine of the market. With this token, you can get discounts, pay for VIP memberships and trade on the same platform, and you can also use the exchange by recommending people to earn BNB

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Currency value currently

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today it is US $ 550.28 with a 24-hour trade size of US $ 5,873,747,748, the price has dropped 3.4% in the new 24 hours. they have a circulating amount of 155 million coins. and a maximum amount of 200 million coins. Binance is one of the best and most active markets, which is valued in this coin.

Binance Coin Features

And it is not a lie, because it has its own very fundamental advantage: when sending Binance Coin, there is a comment field added. The comment is the payment ID. They can be a long firmness set or a short character set.

High liquidity: Binance Coin can be interspersed with more than 600 coins, making it one of the most liquid coins

Binance Coin Mining

It is not possible to mine BNB using the ratio of work or proof of stake system. Instead, it is based on the Byzantine Fault Tolerance (BFT) consent procedure, in which verifiers obtaining BNB will participate by verifying blocks on the network.

advantage

1. We can use it to pay Binance transaction fees

2. we can use it to pay settlement fees on Binance

3. We can also pay transaction fees on Binance Chain

4. More and more new providers start to support BNB payment methods

5. In the very near future, it could be leveraged to support the influential assets of the upcoming Binance decentralized shift.

Disadvantages

For speculative investors, this cryptocurrency may be the best. Although the situation may vary for those associated with a more professional speech, they have done a good survey on the stock market development of their own digital currency. With all possible conflicts of interest.

conclusion

Like any other cryptocurrency, Altcoins are a good investment. It is up to you to decide which Altcoins you want to invest in. For Binance, you can march on the Ethereum network and the transaction was completed twice. It is also safe, and investing with them will not be a theft difficulty