What is Bullion (CBX) Crypto Beginner’s Guide
Bullion is a decentralized, blockchain-based platform that supports the Bullion token (CBX), a cryptocurrency that is designed to be the digital precious metal. The currency aims to blend aspects of the crypto world and its financial opportunities, with the scarcity and other features of precious metals. CBX launched in June 2013, and is ideal as an asset with its low coin supply, while it also fulfills the requirements that are needed in order to be considered as a medium of exchange. These requirements include ease of use, divisibility, security, mobility, and fast transactions.
Bullion contains a unique and original Proof-of-Stake-Participation (PoSP) system that is the very first of its kind. PoSP is an energy-efficient resource for CBX that is a viable alternative to PoW-dependent coins such as Bitcoin and Ethereum. Holders of the CBX coin profit by using the PoSP system to actively participate in the Bullion network; there is an annual static inflation rate of 2% for all active CBX owners, and any inactive owners forfeit their potential interest earnings.
Ultimately, CBX is a digital asset that boasts all the properties of real money. Like gold, it is portable, scarce, fungible, durable, and a storage of wealth, yet it can be safely and securely transferred across the globe instantly. It is meant to be a first-class investment in the crypto world.
Bullion’s Unique PoSP System
The Proof of Stake Participation system makes the Bullion coin energy efficient and allows anyone who owns coins to earn a return on investment by staking. This system requires Bullion coin holders to leave the coins in their wallets to stake them, and to actively participate in order to sustain the coin and its value; anyone who has coins but is not active will have to forfeit any benefits they would receive.
There is no mining equipment needed, and proof of stake makes Bullion truly decentralized by enabling anyone to participate, and putting the creation of the coin and investment directly into user’s hands. With the staking consensus, PoSP also is what provides the coin with the maximum security that is possible and available. PoSP was implemented into the platform and began in December 2015.
The Bullion Coin (CBX)
CBX is the cryptocurrency that the Bullion platform supports. It is a decentralized, energy efficient coin that has fast transaction times, promises high return on investment, and has a low supply; there is a hard cap on the coin at 1 million. CBX holders are rewarded with high annual interest, and receive potential interest earnings that have been forfeited from inactive owners. Since there is such a low supply, CBX is designed to be hard to come by and is highly valued.
CBX is a digital asset that is the gold of the cryptocurrency world. By employing the world’s first unique Proof of Stake Participation system, which ensures that the coin is secure and energy efficient, CBX requires the active participation of its holders in order to function and stay alive. As a rare and highly valued coin, CBX brings the features of the crypto world to a token that acts as a precious metal, and it is proof that there are many different things that can be done with cryptocurrencies.