The Coinbox.org wallet has now integrated the support of all the tokens of 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: “Blockchain is a decentralized public ledgering system”. Or “It’s the record-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 public database (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.
Now, let’s dig into the ETH, BNB, TRX, and EOS blockchains. Here’s some useful information about them and the number of tokens available on each of 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. Top Ethereum token protocols are the following: ERC-20, ERC-223, ERC-721, ERC-777, ERC-1155.
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. Binance Chain uses BEP-2, BEP-8, and BEP-20 token protocols.
TRON is an open-source blockchain protocol designed to deploy a decentralized ecosystem with simplified mechanisms for creating and hosting dApps (decentralized applications) that users can share without intermediaries. At the same time, for posting or selling content on the network, rewards are in the native cryptocurrency of the project – Tronix (TRX), and the platform itself supports blockchains and smart contracts of other projects.
This protocol offers its users a high-availability and high-throughput computing (HTC) support that serves as the foundation for all dApps in the TRON system. Token protocols used on the TRON platform are TRC10 and TRC20.
EOS is a blockchain protocol based on the EOS cryptocurrency, which includes libraries and utilities for creating public and private blockchains, smart contracts, transaction signatures, and interaction with the blockchain itself. EOS.IO is open source and licensed under the MIT license. The EOS.IO platform operates without transaction fees, has the ability to use smart contracts, and the systems built on its basis can be scaled and thereby increase their throughput hundreds of times (millions of transactions every second). The EOSIO token protocol is being constantly updated and has different versions.
By integrating all tokens of these blockchains, Coinbox.org made more than 5000 cryptocurrencies and tokens available to everyone who is interested in investing in digital assets. It’s a unique opportunity for Coinbox.org users. With all the tokens of ETH, BNB, TRX, and EOS blockchains integrated into the system, Coinbox.org users can be at the top of their game when buying, trading, and storing the respective cryptocurrencies.