Bibox is a digital asset exchange which was founded a group of blockchain giants consisting of venture capitalists, entrepreneurs, Bitcoin enthusiasts, and AI experts.
It is similar to the functioning of centralized exchanges and the use of AI is not yet clear in the platform. Bibox is mainly used in the Asian market and has adopted many features of the Binance.
It is ranked among the main 25 exchanges on the coinmarketcap and the exchange handles crypto trades worth USD 50milion every day on an average. The native token of Bibox is symbolized by BIX and is similar to that of Binance.
Purpose of Bibox
Bibox is encrypted and AI-enhanced digital exchange where one has the option of peer-to-peer trading. It is paired with DAI, USDT, BTC and ETH. Bibox was created to give an accurate analysis of the trading and to provide a quantitative computation of the trading market cycles. It is similar to the functioning of centralized exchanges and the use of AI is not yet clear in the platform.
Technology of Bibox
The Bibox team have very renowned experts from Houbi and Okcoin and are adopters of the blockchain technology.
It has the ability to handle more than 10million users at a time due to its modern distributed cluster system. This system also helps in making Bibox error tolerant.
This advanced distribution system of Bibox can execute a large amount of traders per second which reduces the execution time and makes it faster than other exchanges.
Working of Bibox
Bibox uses the ERC20 standard and is based on the Ethereum blockchain. If an investor holds a BIX token, he is bound t get 20% profit of the total Bibox exchanges profit. Also, the investors of Bibox get discounts on the trading fees on the exchange which is starts from a flat 50% reduction for the first year and goes down to 6.25% concession in the 4th year of using the platform.
Bibox is one of the new crypto’s and have seen high volumes throughout. BIX is expanding day by day and listing new tokens. BIX has a promising future as the team is well qualified and well versed in cryptocurrency.