Let’s take a closer look at Cocos-BCX, one of the coins closely followed by the online gaming industry. As Kriptokoin.com, we have compiled the answers to frequently asked questions such as what is Cocos-BCX, how does it work, how to buy COCOS coin.
What is Cocos-BCX (COCOS)?
A blockchain project built on Ethereum, Cocos-BCX is a public blockchain platform that provides game developers with a user-friendly platform for blockchain game development. The project produced by the Cocos Blockchain Expendition offers a wide platform of use cases for gaming and production. The platform aims to attract gamers and game developers. COCOS coin works as the native cryptocurrency of the platform.
Cocos-BCX aims to create a complete runtime environment for games with multi-game system compatibility. Besides, the project aims to give users full control over in-game virtual assets and become transparent. COCOS is building a development environment with gaming experience and game economy in mind. Game developers can easily migrate traditional games to the blockchain without the need to learn blockchain programming languages.
Moreover, COCOS enables asset trading between chains and domains by providing multi-chain compliant asset standards and cross-domain gateways. As a result, Cocos-BCX aims to “bring more games to gamers” while allowing users to better manage their virtual assets.
What are the advantages?
- It offers a working environment by integrating digital games with multi-game system compatibility into the blockchain.
- Allows staking of tokens on topics such as gas fee, DPoS consensus, and blockchain governance.
- Allows singular and non-singular assets to be moved between blockchains.
- Cocos coin is listed on major exchanges such as Binance, increasing its adoption.
What are the disadvantages?
- The relatively high volatility of the COCOS coin creates risk for investors. High volatility means that an asset fluctuates over a wider range, both in the bullish and bearish directions.
- The platform, which has security vulnerabilities, is at risk of cyber attack. In January 2022, the platform was hacked and millions of dollars of funds were stolen by malicious actors. Users may not be affected by this disadvantage by storing their assets in their hardware wallets.
How to buy Cocos-BCX (COCOS) coin?
Users who want to buy COCOS coin must first become a member of a crypto exchange where the token is listed. Crypto exchanges such as Binance, MEXC, CoinDCX, and Gate.io list COCOS. Registered users must verify their accounts and create a wallet. After that, they can buy COCOS coins by depositing a fiat currency into their wallet.
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