bobcoin

Bob Eco is updating it’s smart contracts on the Binance smart chain and the Ethereum chain. In the process Bob Eco moved 175m tokens to the Avalanche chain and the Polygon chain to offer token users cheaper alternatives for token transfers and decentralized swaps. With the extreme rise of gas fees on the Ethereum network, that also brings forth rises in fees on the Binance Smart Chain, this move was an absolute must to keep operational costs low for token transfers within the Bob Eco network.In this blog we explain move about what this means for you.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/df8fccda505043109f24b16d2d5706ed.png" />GAS FEES ON THE BOBCOIN CHAINS: To give users an indication of the fees that can be expected on each of the above-mentioned Chains. The estimated average gas fees for transfers of tokens on these networks based on past trends as of September 2021:<ul><li>Ethereum: The average gas fee for ERC-20 token transfers on Ethereum can range from 50 to 200 Gwei (0.001 to 0.004 ETH) depending on the network congestion, which is around $10-40 per transaction.</li><li>Binance Smart Chain (BSC): The average gas fee for BEP-20 token transfers on Binance Smart Chain is much lower than in Ethereum, ranging from 1 to 10 Gwei (0.00002 to 0.0002 BNB), which is around $0.05-0.5 per transaction.</li><li>Avalanche: The average gas fee for AVAX token transfers on Avalanche Network is relatively low compared to Ethereum, ranging from 20 to 100 Gwei (0.0001 to 0.0005 AVAX), which is around $0.05-0.25 per transaction.</li><li>Polygon: The average gas fee for MATIC token transfers on Polygon Network is also relatively low, ranging from 1 to 10 Gwei (0.00005 to 0.0005 MATIC), which is around $0.01-0.05 per transaction.</li></ul>Note that these fees can vary greatly depending on the market conditions, network congestion, and the gas price set by the users. It is important to check the gas fees before making any transaction on these networks. INTRODUCTION TO THE COMMUNITY As an introduction to all the active Bobcoin holders, the Bob Eco Teach team has sent 2 bobcoin on the Avalanche Chain and 2 bobcoin on the Polygon chain. Users can use these on decentralized swaps (Sushiswap, Pancakeswap, Uniswap) and send them to other users.All users holding more than 5 bobcoin should have received these brand new tokens by now.Link to the Polygon token tracker Polygonscan: <a href="https://polygonscan.com/token/0x590eb2920486486c2D9Bb3EB651f73b81df87bcf" rel="noopener noreferrer nofollow">https://polygonscan.com/token/0x590eb2920486486c2D9Bb3EB651f73b81df87bcf</a>Link to the Avalanche token tracker Snowtrace: <a href="https://snowtrace.io/token/0x590eb2920486486c2D9Bb3EB651f73b81df87bcf" rel="noopener noreferrer nofollow">https://snowtrace.io/token/0x590eb2920486486c2D9Bb3EB651f73b81df87bcf</a>Link to the updated Coinmarketcap where the new addresses are visible: <a href="https://coinmarketcap.com/currencies/bobcoin/" rel="noopener noreferrer nofollow">https://coinmarketcap.com/currencies/bobcoin/</a>Link to the updated Coingecko where the new addresses are visible: <a href="https://www.coingecko.com/en/coins/bobcoin" rel="noopener noreferrer nofollow">https://www.coingecko.com/en/coins/bobcoin</a>WHERE DO THESE TOKENS COME FROM? The tokens were minted in the upgrade of the Bobcoin smart contract, which for optimization purposes has been upgraded. The tokens were newly minted and were subtracted from the total of tokens on the other chains to not exceed the 1b bobcoins.Link to the token deployer accounts: Polygon: <a href="https://polygonscan.com/token/0x590eb2920486486c2d9bb3eb651f73b81df87bcf?a&#61;0x6a44a8a059c6e072ebe5c7b79cbb11c6f907cc29" rel="noopener noreferrer nofollow">https://polygonscan.com/token/0x590eb2920486486c2d9bb3eb651f73b81df87bcf?a&#61;0x6a44a8a059c6e072ebe5c7b79cbb11c6f907cc29</a> Avalanche: <a href="https://snowtrace.io/token/0x590eb2920486486c2d9bb3eb651f73b81df87bcf?a&#61;0x6a44a8a059c6e072ebe5c7b79cbb11c6f907cc29" rel="noopener noreferrer nofollow">https://snowtrace.io/token/0x590eb2920486486c2d9bb3eb651f73b81df87bcf?a&#61;0x6a44a8a059c6e072ebe5c7b79cbb11c6f907cc29</a>WHAT IS THE AVALANCHE C-CHAIN? The Avalanche C-Chain is a high-performance, decentralized blockchain that is designed to enable fast and secure transactions without compromising on scalability or security. It is built on the Avalanche consensus protocol and features a robust network of validators who verify and validate transactions in real-time. The C-Chain is also designed to be highly interoperable, allowing it to seamlessly connect with other blockchain networks and applications. With its focus on speed, security, scalability, and interoperability, the Avalanche C-Chain is rapidly gaining popularity among developers and businesses looking to build decentralized applications and services.WHAT IS THE POLYGON CHAIN? The Polygon Chain is a layer two scaling solution built on top of Ethereum that offers faster and more affordable transactions. It aims to solve Ethereum&#39;s scalability problems by providing more efficient and cost-effective transaction processing. The Polygon network is secured by a network of independent validators who ensure the integrity of transactions. MATIC is the native token of the Polygon network, and it is used for transactions and as a means of payment for transactions on the platform. The Polygon network has gained widespread adoption due to its low transaction fees, fast transaction processing, and high scalability features. It has become a popular choice among DeFi users, dApp developers, and other blockchain enthusiasts.

Breaking - Bobcoin introduction on Avalanche and Polygon

Bobcoin Official

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