Birake (BIR)

Birake

Birake (BIR) is a cryptocurrency exchange platform launched in 2018. Birake was an exchange platform that also had its own blockchain and launched its own coin like other exchange platforms known as Birake Coin (BIR). Moreover, this crypto exchange is powered by proof-of-stake Birake Coin (BIR). It was a type of exchange that claimed to be a "white label" service. Bira is a cryptocurrency exchange platform that is offered as an ICO. The purpose of this exchange site was to raise funds to continue developing and selling white label cryptocurrency exchange software. Birke was stationed at the exchange site Romania. As a result, it was difficult to get company information. Because this exchange site falls outside the US regulatory regime.

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Although the concept of white leveling was developed for the retail industry, Birake wanted to apply the concept to cryptocurrency exchanges as well. This type of white leveling concept was commonly used in the search industry. Where manufacturers remove their brand name and logo from a product so that a distributor can rebrand it. Just like Birake wanted, everyone can rent and own their exchange platform. They assumed that since all the exchanges using Birake would share their orders and that tenant exchange would have a lot of buy/sell orders from day to day. They claimed that they included their exchange site with white leveling. Even Birake describes itself as a "white label" crypto exchange. It provides exchange technology and infrastructure, and clients provide customers and marketing.

Birake Currency (BIR)

Birake has a native token like other crypto exchange sites. It is known as Birake Coin, abbreviated as (BIR). This exchange platform's own token is mainly used for staking, validation process in the blockchain. Birake was an exchange that had a separate blockchain from this network. And that blockchain was powered by their own BIRAKE Coin (BIR) and there users could stake BIR tokens to earn block rewards.

** Some more information about Birake**

It added as one of its advantages that cryptocurrency enthusiasts interested in running a decentralized exchange can buy and download the software and create an exchange. The service could use bitcoins to pay monthly rent. But in this case the owner set the fee for the transaction. Profits from these transactions are then shared between the exchange owners and the founders of Birake.

In some well-known exchanges, the principle of centralization of power always goes against the principle of decentralization. And for that reason Birake wanted to promote the policy of decentralization instead of the policy of centralization. They wanted to start a little differently than others and they wanted everyone to be able to create their own exchange with just a few clicks and share orders publicly across all exchanges in the market. Their intentions were understandably good as they wanted to introduce decentralized instead of centralized so that users have their own power or ownership.

The first alpha version of Birake Exchange was launched in 2019. After their initial coin offering and distribution, Birake developed exchange software compatible with around 59 cryptocurrencies. But when the developers of this exchange site worked in the industry, they encountered many cryptocurrency trading platforms. And their face was overloaded or otherwise ineffective for extended periods of time. As a result, these developers became frustrated and subsequently started working on the idea behind the Birak platform.

Conclusion

Birake is an exchange site like other cryptocurrency projects that launched during the ICO boom The project offered white-label exchange technology to provide decentralized benefits to users. While there have been periodic announcements from the team, it's unclear where the project stands and whether it's a project investors should look into.