What is biconomy? Biconomy (BICO) is a protocol that aims to connect users to decentralized applications across multiple chains at low fees. In this article Kriptokoin.com we will answer the question “What is Biconomy” and give detailed information about the project.
What is biconomy?
The platform is a multi-chain plug-and-play protocol that can manage transaction, gas payment and bridges for web 3.0 applications. Thanks to its unattended infrastructure, its users do not have to worry about switching networks for transactions. Installing applications on Ethereum causes increased traffic and congestion of the chain. Moreover, this situation significantly increased gas prices. For this reason, app developers, Solana, Polkadot etc. began to look for alternative chains.
Biconomy provides easy-to-use SDK and APIs that allow developers to build dApps with customized processes. Thus, the end user does not have to deal with the complexity of the blockchain. Additionally, the platform’s cryptocurrency is BICO. BICO can be used to pay network fees and vote on protocol upgrades.
What is the purpose of Biconomy?
The aim of the project is to simplify the trading experience. It is aimed to use Web 3.0 products as easily as old Web 2.0 products. Biconomy aims to simplify the Web 3.0 experience by solving your layering problems and help mass adoption of decentralized projects.
What does Biconomy offer?
- Plug-and-play SDK and APIs: SDK and APIs that can be used to build dApps with user experience.
- Multi-currency support: Most dApps are built on Ethereum. So this shows that ETH payment option is available for users. However, Biconomy supports many tokens.
- Simple interface: Users must have knowledge of crypto to operate on most interfaces. However, Biconomy simplifies this process by offering an easy-to-use interface.
- Gas fees: The protocol uses commodity transactions to subsidize gas fees. This gives users a gas-free experience.
- Cross-chain transfers: The protocol enables meta-transactions at layer 2, making streaming from different chains costly and simple.
What is the total supply and current price of Biconomy?
According to Coinecko data, Biconomy’s total supply is 1,000,000,000 BICO. The circulating supply is 130,577,972 BICOs. However, the last 24-hour trading volume of the project is $13,945,095 and the market value of the project is $82,107,934. BICO is currently trading at $0.628633 on cryptocurrency exchanges. However, in December 2021 it rose as high as $21.45 and broke its own price record.
What is biconomy? How to take BICO?
Biconomoy is a protocol that is traded on many major cryptocurrency exchanges. Users who want to invest in the protocol should open an account on one of the exchanges where the protocol is traded. Some of the exchanges that Biconomy is traded are: Binance, Coinbase, Huobi Global, Bybit, FTX, KuCoin, Gate.io, Kraken, OKX, MEXC and Phemex. Those who want to invest in Biconomy can open an account on one of the above exchanges, transfer suitable cryptocurrencies such as USDT, BTC or ETH to their wallets and receive BICO.
