Binance Coin BNB to ParkinGo GOT Exchange

Crypto Pair Details: BNB to GOT

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.

ParkinGo GOT

GoNetwork is creating a highly scalable, low cost mobile first network infrastructure for Ethereum. The prime objective is to build a mobile first network for Ethereum ERC20 tokens that’s off chain. It is a fast, cheap and low latency infrastructure. A major concern with blockchain technology centers on speed and high cost of transactions. Transactions on blockchains like bitcoin are expensive and slow. With growing usage, Ethereum will fare no differently over time. GoNetworks solution solves this problem by allowing off-chain transactions. MASSIVE POTENTIAL GoNetwork is designed for the trillion dollar mobile economy and commerce market. GONETWORK MAKES ETHEREUM FAST State channels amortize the cost of transactions based on the number of off-chain transactions completed off-chain. Thus, in typical high-frequency workflows, the cost of transactions will be several orders of magnitude lower than running the transactions on Ethereum directly. INFRASTRUCTURE LAYER Our prime objective is to build a mobile first network for Ethereum ERC20 tokens thatтАЩs off chain. It is a fast, cheap and low latency infrastructure. MAKING TRANSACTIONS CHEAP A major concern with blockchain technology centers on high cost of transactions. GoNetworks solution solves this problem by allowing off-chain transactions.

SOURCE: COINGECKO

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