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BinaryX [Old] Stock

BinaryX [Old]

BNX

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128.42
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BinaryX [Old] Whitepaper

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Börse Marktpaar Preis +2% Tiefe -2% Tiefe Volumen (24H) Volumen % Typ Liquiditätsbewertung Aktualität

BinaryX [Old] FAQ

What is BinaryX ($BNX)?

BinaryX ($BNX) serves as the platform cryptocurrency for the BinaryX ecosystem, encompassing the DAO along with all products and games that utilize $BNX. Initially established as a decentralized derivative trading system, BinaryX identified the growing interest in GameFi and metaverse games. Consequently, the team gradually shifted its focus towards developing decentralized video games and is now fully transitioning into a GameFi platform that offers IGO services to connect Web2 developers with Web3. The services provided by BinaryX include infrastructural support, a DAO governance system, and community building, aimed at scaling promising GameFi projects and fostering innovation in the blockchain gaming sector.

Who Founded BinaryX?

Despite Binance Labs supporting the project, the developers of BinaryX remain anonymous. In an interview with Binance, they disclosed that the team consists of individuals from diverse international backgrounds, including several senior blockchain experts. Allegedly, the team members possess experience in developing both centralized and decentralized exchanges, as well as managing derivative assets exceeding $100 million.

### What Distinguishes BinaryX? BinaryX is set apart by several unique features that contribute to its distinct positioning in the cryptocurrency space: 1. **Innovative GameFi Integration**: BinaryX seamlessly integrates blockchain technology with gaming, delivering a novel GameFi experience that attracts both gamers and crypto enthusiasts. 2. **Decentralized Governance**: The platform employs a decentralized autonomous organization (DAO) structure, empowering BNX token holders with voting rights to influence project developments and governance decisions. 3. **Robust Security Measures**: Security is a top priority for BinaryX, which implements advanced security protocols and regularly undergoes audits to ensure a safe environment for its users. 4. **Scalability and Interoperability**: BinaryX is designed to be highly scalable and interoperable, enabling smooth interaction with other blockchain networks and supporting a growing number of users and transactions. 5. **Strong Community Engagement**: BinaryX places a significant emphasis on community building and engagement, fostering a supportive ecosystem that encourages collaboration and innovation among its members. To explore detailed insights about BinaryX, including its market performance and additional features, you can refer to Eulerpool.

The development team at BinaryX is dedicated to redefining gaming within the GameFi industry. The primary objective for BinaryX is to establish a sustainable economic model for its games by enhancing the existing ecosystem and introducing more engaging gaming experiences. As a prominent GameFi platform, BinaryX has developed CyberDragon and CyberArena, which are two leading games on the BNB Chain. In September 2022, BinaryX introduced CyberChess, an auto battler strategy game inspired by the game Autochess. CyberChess offers a more robust structure, increased playability, and the most comprehensive mechanics of any game developed by BinaryX to date, marking the shift from a play-to-earn model to a play-and-earn approach. To further enhance its role in the GameFi sector, BinaryX is actively transitioning into an Initial Game Offering (IGO) platform. This aims to provide a full suite of solutions to incubate, support, and empower aspiring GameFi developers. The platform offers better and more customized resources for developers encountering challenges in their project development. At present, BinaryX has launched its inaugural IGO project, SHIT IGO, with plans for additional IGOs in the future. For more details about BinaryX and its games, please visit www.eulerpool.pro.

What is the Circulating Supply of BinaryX (BNX) Coins?

BinaryX offers limited information about its tokenomics on its website. Based on public sources, BNX has a maximum supply of 21 million tokens. Tokens acquired during the genesis mining event are eligible for automatic lock-up dividends. Once the mining period concludes, these rewards will be unlocked. The distribution of BNX is structured as follows: * 33.33%: Genesis mining reward * 26.67%: Initial BNX/BUSD trading pair liquidity * 30%: Marketing and LP Reward Reserve * 10%: Team There is no available information regarding vesting periods. As of the time of writing, the circulating supply is just over 2 million BNX.

### How Is the BinaryX Network Secured?

BNX is a BEP-20 token operating on the Binance Smart Chain, and it has undergone a security audit by Certik, receiving an impressive score of 83. In an interview, the BinaryX team explained their choice of the Binance Smart Chain, highlighting its lower costs, faster confirmations, and greater chain bandwidth, all of which are essential for supporting an MMORPG game. The Binance Smart Chain is secured by a proof-of-stake consensus mechanism. In this system, 21 validators are elected every 24 hours to validate transactions and maintain the blockchain's security. To qualify as validators, participants must stake a certain amount of BNB coins with Binance.

Where Can You Purchase BinaryX (BNX)?

BinaryX (BNX) is available on the following platforms: Binance, Mandala Exchange, ZT, Gate.io, and CoinW. For more information, please refer to Eulerpool.

Investors interested in BinaryX [Old] are also interested in these Cryptos

This list presents a carefully selected selection of Cryptos that might be of interest to investors. We have our own crypto analyses for all listed Cryptos on Eulerpool.

Beginnings and the Rise of Cryptocurrencies

The history of cryptocurrencies began in 2008 when an individual or group using the pseudonym Satoshi Nakamoto published the whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System." This document laid the foundation for the first cryptocurrency, Bitcoin. Bitcoin utilized a decentralized technology known as blockchain to enable transactions without the need for a central authority.

In January 2009, the Bitcoin network commenced with the mining of the Genesis Block. Initially, Bitcoin was more of an experimental project for a small group of enthusiasts. The first known commercial purchase using Bitcoins occurred in 2010, when someone spent 10,000 Bitcoins on two pizzas. At that time, the value of one Bitcoin was just fractions of a cent.

The development of other cryptocurrencies

Following the success of Bitcoin, other cryptocurrencies soon emerged. These new digital currencies, often referred to as "Altcoins," sought to use and improve blockchain technology in various ways. Some of the most well-known early Altcoins include Litecoin (LTC), Ripple (XRP), and Ethereum (ETH). Ethereum, founded by Vitalik Buterin, was particularly distinct from Bitcoin, as it enabled the creation of smart contracts and decentralized applications (DApps).

Market Growth and Volatility

The cryptocurrency market grew rapidly, and with it public attention. The value of Bitcoin and other cryptocurrencies experienced extreme fluctuations. Highlights such as the end of 2017, when the Bitcoin price nearly reached 20,000 US dollars, alternated with sharp market crashes. This volatility attracted both investors and speculators.

Regulatory Challenges and Acceptance

As the popularity of cryptocurrencies rose, governments around the world began to grapple with the regulation of this new asset class. Some countries adopted a friendly stance and encouraged the development of crypto technologies, while others introduced strict regulations or outright banned cryptocurrencies. Despite these challenges, the acceptance of cryptocurrencies in the mainstream has steadily increased, with companies and financial institutions starting to adopt them.

Recent Developments and the Future

In recent years, developments such as DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens) have broadened the range of possibilities offered by blockchain technology. DeFi enables complex financial transactions without traditional financial institutions, while NFTs allow for the tokenization of artwork and other unique items.

The future of cryptocurrencies remains exciting and uncertain. Questions about scalability, regulation, and market penetration remain open. Nevertheless, interest in cryptocurrencies and the underlying blockchain technology is stronger than ever, and their role in the global economy is expected to continue growing.

Advantages of Investing in Cryptocurrencies

1. High Return Potential

Cryptocurrencies are known for their high potential returns. Investors who got in early on projects like Bitcoin or Ethereum have made substantial gains. This high return makes cryptocurrencies an attractive investment opportunity for risk-seeking investors.

2. Independence from Traditional Financial Systems

Cryptocurrencies offer an alternative to the traditional financial system. They are not bound to the policies of a central bank, making them an attractive hedge against inflation and economic instability.

3. Innovation and Technological Development

Investing in cryptocurrencies also means investing in new technologies. Blockchain, the technology behind many cryptocurrencies, has the potential to revolutionize numerous industries, from financial services to supply chain management.

4. Liquidity

Cryptocurrency markets operate around the clock, which means high liquidity. Investors can buy and sell their assets at any time, which is a clear advantage compared to traditional markets that are tied to opening hours.

Disadvantages of Investing in Cryptocurrencies

1. High Volatility

Cryptocurrencies are known for their extreme volatility. The value of cryptocurrencies can rise or fall quickly and unpredictably, posing a high risk to investors.

2. Regulatory Uncertainty

The regulatory landscape for cryptocurrencies is still emerging and varies greatly from country to country. This uncertainty can lead to risks, especially when new laws and regulations are introduced.

3. Security Risks

While blockchain technology is considered very secure, there are risks associated with the storage and exchange of cryptocurrencies. Hacks and fraud are not uncommon in the crypto world, which requires additional precautions.

4. Lack of Understanding and Acceptance

Many people do not fully understand cryptocurrencies and the underlying technology. This lack of understanding can lead to misguided investments. Additionally, the acceptance of cryptocurrencies as a means of payment is still limited.