The Coinbox.org wallet has now integrated ETH, BNB, TRX, and EOS blockchains. We are going to take a closer look at each of these platforms.
But first of all, let’s find out what blockchain is and how it works.
If you’ve been following cryptocurrency news, you are surely familiar with the “blockchain” term. But, like most crypto enthusiasts, you probably don’t have a complete understanding of its meaning. And it’s perfectly normal: our world is constantly evolving, in particular, the world of technology and the crypto world. So everybody is learning something new every day.
As for the definition of blockchain, you’ve probably heard something like: “Blockchainis a decentralized public ledgering system”.Or “It’s therecord-keeping technology behind the cryptocurrencies”. But let’s simplify it: blockchain is basically a chain of blocks. Obviously,not in a literal meaning. “Block” and “chain” mean digital information (the “block”) stored in a publicdatabase (the “chain”) in this context. In other words, it’s a public record of all transactions that have ever taken place in history.
Blockchain started to emerge as an authentic tech option in 2016-2017. Blockchain gives businesses the maximum security and transparency when it comes to transactions. Because the main purpose of this technology is actually to solve business problems. Blockchain has been invented to help companies create effective communication networks with their partners all over the world and support everything from real estate deals to payment systems.
So let’s dig into the ETH, BNB, TRX, and EOS blockchains newly integrated in Coinbox.org. Here’s some useful information about them:
Ethereum is a decentralized open-source blockchain that features smart contracts. Ether (ETH) is the native cryptocurrency token of the Ethereum platform. It has a circulating supply of about 112 million coins and the maximum supply is infinite. Anyone can create an Ethereum-based token. Tokens on this platform are also tracked on the blockchain. This is because Ethereum tokens are just a special type of smart contract that exists on the Ethereum blockchain.
Binance (BNB) blockchain‘s native cryptocurrency is BNB. BNB was issued with a total supply of 200 million coins. The dual-chain architecture of Binance Chain and Binance Smart Chain empowers its users to build their own dApps on one blockchain. The Binance Decentralized Exchange (DEX) is also a big advantage for users because of its incredibly fast trading performance.
TRX (Tron) protocolis a very large blockchain-based operating system, actually one of the biggest in the world. It offers its users a high-availability and high-throughput computing (HTC) support that serves as the foundation for all dApps in the TRON system. According to Coinmarketcap, the total number of TRX tokens is approximately 100.850.000.000 TRX, while the circulation supply is 71.700.000.000 TRX.
EOS is a blockchain protocol based on the EOS cryptocurrency. The issuer of these coins, Block.one, issued 1 billion tokens when this platform was created.100 million tokens were reserved for its creators and successfully sold the remaining 900 million within the ICO. The EOS.io platform works without any transaction fees. Another feature of this platform is the fact that it’s super fast: it conducts millions of transactions every second.
By integrating these blockchains, Coinbox.org offers its users a unique opportunity to be at the top of their game when buying, trading, and storing all the respective cryptocurrencies.