Steemit Crypto Academy | Season 2: Altcoins – Part1 "Looking beyond the Bitcoin" Homework by @janemorane

28일 전

Hello Steemit Family!

Today i am going to do my homwork task for professor @yohan2on and I am very happy that the 2nd season of steemit crypto academy has saccessfully started and I hope we will learn more new things here.

LETS START THE HOMEWORK

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Altcoin

Basically atlcoin means alternative coins and all the other coins except bitcoin are all altcoins. Actually it is the modified version of bitcoin.Developers have modified the source code of bitcoin and through this different types of altcoins were generated.

Binance Coin

Bnb is a type of payment method which you can use on Binance exchange Aaj or binance decentralized exchange or it will be easy saying that using Binance Coin for the payments you have to make.
Binance coin makes your work easier for example if you want to purchase any kind of token or smart contracts you can easily make your payments through Binance coin and you will not have to use any other coin. This coin was introduced by Binance platform and they have made this coin to make the work easier and if look at the activity of binance coin it works so smoothly and whenever you are trading on binance platform and if you want to buy any kind of tokens or smart contracts you will not need any troubles and any other methods for this trading only use your Binance Coins and you will get what you want. For this you will not need to exchange your currency or you will not worry about how the exchange rate will be for this purchase. This gives you comfort trading and that is why many users of binance platform are happy and more people are getting attracted towards the Binance coin.

Binance coin can not be mined like other Bitcoin or ether and they work on proof of work but
In binance coin the validators make the place secure by validating all the transactions so you can Buy Binance coins but can not mined them.

Market Rank

The market value of Binance coin or BNB is very high nowadays and it is on the 3rd rank in the market which is really a high grade and its value is 519.82$ which is very high nowadays and has a very good position.
This is the only Crypto currency which is easily transferable and for trading through Binance you do not need much knowledge and that's why many new users are working and trading through Binance without having much experience and this is I think a very good point about this coin which makes it different from other coins.

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Total Supply, All time low, all time high

Currently the totalsupply of BNB is 169,432,897 and if we talk about its Circulating supply so it is about 153,432,897 BNB which is 90% nowadays and it is growing ripidly. and we can see by the circulating supply that BNB is growing and people are using and preferred alot.
From the total and circulating supply we can predict that its fututre will be very high and because it is showing continous growth and you can check it in the graph below.

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Its all time high value has been very high and it has touched 548.60 which is such a high value and it all the low or maximumvalue is 508.96 which is also not bad and nor too much low.
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Why was the Binance Coin created?

Actually Binance coin was created by Changpeng Zhao and he is the founder and CEO of Binance platform and he created Binance coin for the purpose that it will make their work easy for all the users and it is to understand and anyone can trade through it very easily. Binance exchange is the world's best exchange and leading of all the exchanges and work supremely in all the exchanges. So to make payments easier for all the users Changpeng Zhao created a Binance coin.

CONCLUSION

BNB is very easy to use and through this you can trade on binance flatform very easily. The future of BNB is very bright has shown a very great development through last one year which just mindblowing.



THANK YOU SO MUCH FOR YOUR TIME

Regards
@janemorane

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Hi @janemorane

Thanks for your participation in the Steemit Crypto Academy

Feedback
Good work. Well done with your research BNB

Homework task
7

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Thank you so much for the efforts you made for us..
Thanks for the grades!