Binance Coin BNB to Contentos COS Exchange

Crypto Pair Details: BNB to COS

Binance Coin BNB

Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name 'Binance' is a combination of binary and finance. Thus, the startup name shows that only cryptocurrencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing. In total, there will only be 200 million BNBs. Binance uses the ERC20 token standard from Ethereum and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees and others. Binance gives you a huge discount when fees are paid in BNB. The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount. This structure is used to incentivize users to buy BNB and do trades within Binance. Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018. The coins are then burned. This means that they are devaluated to increase the value of the remaining coins. This benefits investors. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas. Other tokens that are issued by exchanges include Bibox Token, OKB, Huobi Token, and more.

Contentos COS

Contentos is a decentralized global content ecosystem invested by Binance Labs (the blockchain incubator of world’s largest exchange, https://labs.binance.com), DHVC and various class-leading funds. Contentos TestNet was launched and its real-time network status can be viewed on Contentos Block Explorer (https://explorer.contentos.io). It aims to create a decentralized content ecosystem, where assets can be freely produced, authenticated, and distributed. The team consists of experts from the content industry, who have worked on top-tier consumer applications and blockchain projects. Contentos is not only a blueprint for what digital content ecosystem might look like in the future but we have multiple working use cases: Contentos is working with strategic partners, LiveMe and Cheetah Mobile, that have amassed over 60+ million monthly active users. With real-time user feedback, Contentos will become a premier blockchain project as it places the interest of users first.

SOURCE: COINGECKO

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