Binance Coin BNB to Skychain SKCH Exchange

Crypto Pair Details: BNB to SKCH

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.

Skychain SKCH

Skychain is an open infrastructure, based on blockchain, which provides the possibility to create, train and use high-quality medical neural networks. IBM estimates the artificial intelligence market in the healthcare sector to reach $200 billion in a few years. Skychain’s goal is to control more than 70% of that market! The way to achieve this goal is to create the best open infrastructure that will accumulate the resources of the majority of participants of this industry and surpass any closed corporate product. The mission of Skychain is to save 10 million patients from premature death due to medical errors within 10 years. Medical errors are the third leading cause of death, but artificial intelligence can dramatically reduce the number of such errors! Skychain intends to provide an infrastructure to radically increase the efficiency of healthcare AI development and training. It will make diagnostic AI systems far more accessible and affordable for the consumer by using blockchain technologies to facilitate safe transactions between the key parties. Skychain is unique. The project is based on the revolutionary approach of using smart contracts to bring together many healthcare big data providers whose data is vital for AI training, thousands of independent AI developers, computational resource providers (crypto miners), and millions of consumers.

SOURCE: COINGECKO

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