Boson Protocol (BOSON) 101: Revolutionary E-commerce Platform

Boson Protocol 101: Revolutionary E-commerce Platform

Brokers are currently a necessary component for most commercial transactions. In centralised systems, a reliable intermediary is required to ensure seamless execution of agreements. However, these intermediary systems can be highly inefficient and costly. Boson Protocol, which aims to change this, has entered the market with an innovative idea. The project aims to revolutionize the way we buy and sell goods and services in a decentralised way. By doing so, the platform will make the e-commerce industry much more efficient.

The platform is among the projects launched to adopt blockchain technology. According to a group of cryptocurrency experts, the project is utilizing its native cryptocurrency, BOSON coin, as it transforms e-commerce systems. So, what exactly is Boson Protocol, which has been around since March 2019? What are the analysts’ BOSON coin reviews and expectations? And which exchange can you buy the cryptocurrency from? You can find answers to all these questions in this article of

What is Boson Protocol (BOSON)?

Boson Protocol was founded in March 2019 by entrepreneur and strategy consultant Justin Banon. The protocol aims to make the current e-commerce environment more accessible and cost-effective. To do this, it develops solutions that fill the gap between traditional and digital markets. The products it offers are supported by unique tokenisation solutions. The platform, which runs on the Ethereum blockchain, also hosts the ERC-20 token, BOSON coin.

To eliminate intermediaries, the project developed a new commercial interface. This user-focused interface provides companies with a unique e-commerce platform. Additionally, this system also supports next-generation digital assets such as commitment tokens in the form of NFTs. This provides valid confirmation for the sale and purchase of services or goods on a specific date. NFTs can also be used for real-world goods. In addition to e-commerce, Boson also has a Web3 marketplace that enables users to earn money from their own trading data.

How Does Boson Protocol Work?

Boson Protocol provides infrastructure for DeFi commercial transactions and data transfers. It achieves this through the use of tokenise exchange coupons, known as non-fungible tokens (NFTs). These NFTs use a type of game theory that encourages both buyers and sellers to complete their respective roles in a transaction. Both buyers and sellers transfer a deposit as collateral in case they back out of a trade agreement, which is secured by Ethereum smart contracts.

BOSON crypto is the native utility token of Boson Protocol. This token uses the ERC-20 smart contract and has various benefits and use cases within the ecosystem. For example, users use this token to receive a fee discount while maintaining transaction coordination. BOSON crypto also serves as an essential asset for the governance of the network. This means that token holders can participate in the management of the protocol. Governance ensures that the community determines issues such as how funds are used.

What is BOSON Used for? Is It a Good Investment?

BOSON derives its value from the minimum withdrawal fees generated during each transaction. Additionally, the cryptocurrency also derives value from the fee provided by a third party when purchasing data from the protocol’s Web3 data marketplace. For example, if you want to sell your commercial data through the data market, you will receive payment in the form of BOSON. Buyers of data make payment using this cryptocurrency. Users holding the cryptocurrency can also increase their income through staking.

Boson Protocol aims to revolutionize the industry by providing an original NFT-based trading infrastructure. Analysts view the project’s presence in both the DeFi and Web3 areas as a positive development. However, BOSON also faces some challenges. The DeFi and Web3 spaces host more advanced projects that emerged much later than the protocol. Therefore, fulfilling the roadmap milestones for BOSON is crucial.

The price of BOSON coin reached an all-time high of $4.77 in April 2021. However, the asset is currently trading well below its high levels. In November 2021, when many cryptocurrencies reached new highs, BOSON underperformed. Currently, the token is trading at $0.19, and the project ranks 574th in the general market. However, BOSON coin has a solid technology, and if it fulfils its promises on the roadmap, it can reach high levels again.

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