OKB – What it is & How to Buy

OKB

The OKB project is a blockchain-based ecosystem that upholds empowerment and collaboration by guaranteeing everyone in society’s access to knowledge. It is supported by a single decentralised database that everyone in the community can view and edit.

You will find all you require in this post to begin working on this fascinating new project!

What is OKB?

The “OKB ecosystem” is powered by the OKB coin. Accessing the premium features of programmes on the OKB platform is one of its many uses. As a result of receiving OKBs in exchange for their network contributions, users are encouraged to behave responsibly financially. Blockchain technology, a distributed, public database that guarantees community verification of all transactions, is responsible for making all of this possible.

The potential for societal influence is one of OKB’s most intriguing features. Regardless of their geography or socioeconomic level, the project aims to empower people everywhere. Knowledge ought to be available to everyone as a result. This desire for a more welcoming and inclusive world is becoming a reality thanks to OKB!

What can you use OKB for?

OKB has three primary applications:

  1. POWER – The capacity to use the platform as a “SuperTrawler.” You will then have full access to the ecosystem’s features. Those who have been chosen at random from a pool of candidates or by the community will be granted access.
  2. CONTROL – The power to evaluate user-generated content on a platform and mark it as “good” or “bad.” A higher payout, up to 5 OKBs each post, can be earned by accumulating more votes.
  3. REWARDS – The chance to be compensated for your contribution to the ecosystem, whether it is through platform involvement or content curation

How does OKB work?

The OKB platform is built on empowerment and teamwork. Blockchain and swarm intelligence are two distinctive technologies that support the operation of the digital currency.

The former makes sure that all information in the community is consistently validated, which makes sure that it will be true and available to all users, wherever they may be. This is made feasible by swarm intelligence, which uses the collective knowledge of the group to evaluate which piece of information is reliable. This will be made possible by a variety of incentives, including financial ones that foster the development of a solid society that works for its own advantage.

How to Buy OKB Coins

Several cryptocurrency exchanges, most notably Gate.io and OKEx, let you to buy OKB tokens.

You must first create an account with one of these platforms in order to do this. Then just convert your local cash into OKB! All you have to do is that!

The most important thing to keep in mind is that OKB is an ERC-20 token, meaning it uses the Ethereum blockchain. Since it supports ERC-20, you can store it in any wallet, including the official one created by the OKB team.

If you intend to stay onto them for a long time, be cautious not to leave them kept on cryptocurrency exchanges as exchanges are known to be hacker-prone.

History of OKB 

The foundation of the OKB project, which was introduced in 2016, is the same as that of OKLink.

Following a lucrative token sale event where investors received digital currencies valued at $10 million, OKB was launched. Since then, the team behind this project has expanded significantly, and they are now striving to develop the ecosystem and raise it to the same standard as other well-known blockchain projects like Ethereum and IOTA.

Summary

You will have access to a decentralised, transnational economy where the community has power thanks to the OKB digital money. OKB is the ideal chance for you if you’re interested in social impact and want to be a part of a brand-new, exciting initiative!

OKB FAQ’s

Where is OKB based?

China’s Hong Kong is home to OKB. Its sponsors, OK Blockchain Foundation Ltd, were created by Mai Gang and Meng Yan in 2017. They are also responsible for OKLink.

Is OKB a scam?

The team behind OKB has been working very hard since it began development in 2016. The OKB team has been developing the technology and creating a community around it ever since the concept was publicised well in advance.

Why do I need OKB?

The platform will handle your transactions without requiring you to possess OKBs. However, you will have access to the ecosystem’s capabilities through your wallet if you decide to keep some of them or purchase more as they reach exchanges. This includes becoming a supertrawler, which increases the likelihood that other community members may curate your work.

How do I get OKB?

On a number of cryptocurrency exchanges, including as Gate.io and OKEx, you may buy OKB. However, in order to purchase OKB, you must first convert your fiat money into Bitcoin or Ethereum. Then, you can keep it in a wallet that is ERC-20 compatible.

What is the OKB algorithm?

The OKB ecosystem’s consensus algorithm is a crucial element. It makes sure that the data is accurate and current while yet being accessible to everyone in the community. By offering incentives to both those who submit and validate transactions, it achieves this by verifying the accuracy of each piece of information.

Can I Mine OKB?

No, OKB, you can’t mine. The tokens can only be acquired by purchasing them using ETH, BTC, or wire transfers on an exchange. After that, you can keep them in your compatible wallets.

What is OKB’s current market capitalization?

The market capitalization of OKB was $4,990,035,527 at the time this article was being written.

Is the OKB token a Stable Coin?

Stable coins are digital assets with a set value. Because of its market price’s wide range and dependence on the quantity of tokens in circulation, OKB is not considered a stable coin.

OKB Price Info

One OKB currently costs $22.14 and is valued at $5.65 billion. The price has changed by 6.14% over the past 24 hours. Based on marketcap, OKB is placed 20th among other cryptocurrencies.