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- 1 BBS Network is a blockchain network that permits individuals to post, comment, and share ideas while generating earnings from the content.
- 2 The network was introduced with the mission to ensure freedom of expression.
- 3 BBS is the governance token of the blockchain, holding a maximum supply of 1 Billion BBS and a circulating supply of 126,244,948 BBS.
The crypto universe comprises a wide range of blockchain platforms offering tokens, trading, and exchange-related services, but no platform works with online message boards. BBS Network made it possible to avail trading and earnings through cryptocurrency along with sharing ideas over the network. Anyone can be a developer, board or owner, user, and operator here.
History and Overview of BBS Network
The Bulletin Board System of interconnected message boards was introduced by Eyal Hertzog in 2021. The network is a SocialFi project permitting individuals to share content to reward stakeholders, curators, and creators with their native testimony.
The pilot version of the first BBS network is active on bbs.market as well as other domains.
The network’s mission is to place power in the hands of the community and content creators, along with establishing a public network of online message boards and ensuring freedom of expression.
BSS Network is similar to the Reddit forum holding decentralized features, allowing control of content policies, revenue sharing, and platform management between members. The usage of blockchain technology also ensures the recovery of all BBS users, content, and wallets at any time.
BBS Network Distributed Ecosystem
BSS network operates the same way other social media platforms like Meta Platforms (formerly Facebook) and Reddit do. However, the network uses distributed architecture, distributed revenue models, and distributed infrastructure.
Let’s take a look at the distributed ecosystem of the BBS Network.
The distributed ecosystem involves developers, operators, board owners, and end users. Developers are accountable for developing new UX and features and deWeb LTD is the first developer to develop the core software for the blockchain network.
Similarly, operators are responsible for offering BBS cloud hosting worldwide. The first board was launched in March 2021 and the bbs.market was introduced in August 2021, allowing everyone to create a board.
Additionally, BBS software, deWeb framework for distributed sign-in, and 3rd-party applications are some existing technologies that hold the overall functioning of the BSS Network.
What Value Does the Network Hold?
- The network allows anyone to become a developer, an operator, a user, or a board of owners.
- The platform sustains a direct relationship with the audience, offering access to the contact information and control over the audience UX through admin configuration and choice of operators.
- The revenue generated over the platform is shared between all the participants in a fully transparent, automatic, and market-driven manner.
- Recently, most of the services rely on user reactions and market demands, and the BSS network offers the concept for platform growth.
BBS Token and Distribution
BBS, an ERC-20 token and native currency of BBS Network, holds a total supply of 1 billion BBS and a circulating supply of 126,244,948 BBS. The token flows between operators, boards, and developers.
The token is used for network improvisation, voting, staking, and rewarding users. BBS Decentralized Autonomous Organisation (DAO) revenues, liquidity fees, and staking rewards are distributed to BSS token stakers.
In addition to this, the token holders can vote for cross-BBS interoperability, liquidity management, and smart contract upgrades.
Addressing the token distribution system, 50% of tokens are used for engagement mining, 20% for staking and liquidity rewards, and 10% each for initial capital providers, long-term development, and founding teams.
How to Buy a BBS Token?
4 easy steps can transform any individual into a BSS token holder. They are:
Exchange comparison: The crypto market offers a wide range of exchanges like CoinEx, PancakeSwap V2, and MEXC where BSS token is available. Comparing these exchanges based will help in selecting the best platform for BBS token buying.
Account creation: Once the exchange is chosen, the next thing is to create an account over the platform. Using the email or mobile number are two options for creating an account.
Fund deposit: The next step requires a fund deposit and can be done with the available methods in the region. Some of the most popular options are credit/debit cards, P2P/OTC trading, global bank transfer, or third-party payment.
Final buy: Once the fund is transferred to the account, users are good to go to make a final buy. Choosing the buying amount, and BBS token in the list and hitting the buy button will help in making the final purchase.
In addition to this, if the user can’t find the token on exchange, the user can refer to the smart contract address. Pasting the address into 1inch will help in swapping BBS tokens with other digital assets.
Conclusion
BSS Network emerged as a new form of social media platform that not only allows users to share their perspectives but also generates earnings from the content. The decentralized platform permits anyone to become a developer, an operator, a user, or a board of owners along with maintaining direct relationships between members. The network’s governance token is available on cryptocurrency exchanges like CoinEx, PancakeSwap V2, and MEXC.
FAQs
What problems does the BBS network solve?
The BBS network solves issues related to rewards distribution to content creators, wonders, and other stakeholders along with offering censorship-resistant, and high-level transparency.
Who are the backers and partners of BBS Network?
DAO Maker, Binance Labs, Tectona, Bancor, Digital Currency Group, and Polychain Capital are some key partners of BBS Network.
Where to buy the BBS tokens?
CoinEx, PancakeSwap V2, and MEXC are some platforms offering BBS tokens.
What is the total supply of BBS tokens?
BBS holds a total supply of 1 billion BBS and a circulating supply of 126,244,948 BBS.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
