The OKB project is a blockchain-based ecosystem that operates on the principles of collaboration and empowerment by securing the rights to knowledge for all members of society. It relies on a single decentralized database, which the entire community can access and contribute to.
This article will provide you with everything you need in order to get started with this exciting new project!
What is OKB?
OKB is the token that powers the ‘OKB ecosystem.’ It can be used for various purposes, including accessing premium features of applications on the OKB platform. Users are rewarded with OKBs for their contributions to the network, ensuring a sense of economic responsibility. This all happens thanks to blockchain technology, a shared, open and decentralized database that ensures its community verifies all its transactions.
One of the most exciting aspects of OKB is the potential for social impact. The project was designed to empower people worldwide, regardless of their location or socioeconomic status. As such, knowledge should be accessible to everyone. With OKB, this dream of a more open and inclusive world becomes a reality!
What can you use OKB for?
There are three main uses for OKB:
1. POWER – The ability to become a ‘SuperTrawler’ on the platform. This will give you access to all of the features within the ecosystem. The access will be given to those who have been selected by the community or have been randomly selected from a pool of applicants.
2. CONTROL – The ability to review user-generated content on the platform and vote for it as either ‘good’ or ‘bad.’ Gaining more votes will result in an increased reward, which can be as high as 5 OKBs per post.
3. REWARDS – The ability to receive a reward for your contribution to the ecosystem, either through interaction on the platform or by curating content on it.
How does OKB work?
The OKB platform is based on collaboration and empowerment. The digital currency operates with the help of two unique technologies: blockchain and swarms intelligence.
The former ensures that information throughout the community is always verified, which in turn ensures that it will be both accurate and accessible to all users, regardless of where they are located. Swarm intelligence makes this possible by relying on the crowd’s wisdom to determine which piece of information is accurate. This will be enabled through various incentives, including economic ones, which lead to creating a strong community that works towards its own benefit.
How to Buy OKB Coins
You can purchase OKB coins on several cryptocurrency exchanges, most notably OKEx and Gate.io.
To do so, you will first need to set up an account with one of these platforms. Then, simply exchange your local currency for OKB! That’s all you need to do!
The main thing to remember is that OKB is an ERC-20 token, which means it runs on the Ethereum blockchain. As such, you can store it in any wallet with ERC-20 support, including the official one from the OKB team.
Be careful not to leave them stored on cryptocurrency exchanges if you plan on holding onto them for an extended period of time, as exchanges are known to be vulnerable to hackers.
History of OKB
The OKB project was launched in 2016 and is based on the same principles as its predecessor, OKLink.
OKB’s launch followed a successful token sale event where $10 million worth of digital coins were distributed to investors. The team behind this project has since grown considerably, and they are currently working towards building out the ecosystem and bringing it to the same level as other popular blockchain projects like Ethereum and IOTA.
The OKB digital currency will give you access to a decentralized, borderless ecosystem where the community has the power. If you’re interested in social impact and want to be part of a new and exciting project, OKB is the perfect opportunity for you!
Where is OKB based?
OKB is based in Hong Kong, China. The company behind it, OK Blockchain Foundation Ltd, was founded in 2017 by Mai Gang and Meng Yan. They are also the same people behind OKLink.
Is OKB a scam?
OKB has been in development since 2016 and has a very active team behind it. The project was announced well in advance, and the OKB team has been working on the technology and building their community around it ever since.
Why do I need OKB?
You don’t need to hold OKBs for your transactions to be processed on the platform. That said, if you choose to hold onto some of them or buy more once they hit exchanges, you will gain access to the ecosystem’s features through your wallet. This includes gaining supertrawler status, which in turn means a greater chance of getting your work curated by other members of the community.
How do I get OKB?
You can purchase OKB on various cryptocurrency exchanges, including Gate.io and OKEx. However, you will first have to exchange your fiat currency for Bitcoin or Ethereum before buying OKB. You can then store it in an ERC-20 compatible wallet.
What is the OKB algorithm?
The consensus algorithm is a key component of the OKB ecosystem. It ensures that the information within it is accurate and up-to-date while still being available to all community members. It accomplishes this by checking the accuracy of each piece of information through incentives, which are offered to both those who submit and validate transactions.
Can I Mine OKB?
No, you can’t mine, OKB. The only way to get the tokens is by buying them using ETH or BTC on an exchange or through a wire transfer. You can then store them in your eligible wallets.
What is OKB’s current market capitalization?
At the time of writing this article, OKB’s market cap is $4,990,035,527.
Is the OKB token a Stable Coin?
Stable coins are cryptocurrencies that have a fixed value. OKB does not qualify as a stable coin because its market price can vary significantly depending on how many tokens are in circulation at any given time.