Boson Protocol: The Future of Commerce
The information contained herein, mainly regarding cryptocurrencies and the state of digital networks does not intend to be a source of advice or credit analysis with respect to the material presented. Ergo, the information and/or documents contained in this website do not constitute investment advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting the company with an expertise in crypto. The author suggests to consider and evaluate each of the risk factors and all other information contained herein. It is worth noting, however, that trading and investing in cryptocurrencies solely rely on how well a customer perceives the digital asset based on its market industry.
What is Boson Protocol?
I can call myself a crypto pro once I already have the gist of dCommerce, which I studied all night long just for this network..
Boson Protocol is a new foundational layer for Web3 designed to disrupt traditional commerce markets and allow buyers and sellers to exchange digital value for real-world products and services.
What do I mean by “Foundational layer”? Basically, it is the group that throws out the “construction site” wherein, builders can work on top of. “Web3” is the new internet — powered by decentralized networks where people are not separated from the data and value they create, allowing for protocols that value privacy and self-sovereignty as first principles, not an afterthought.
In simplest terms, Boson Protocol is a foundational primitive which solves the digital to physical redemption problem to enable decentralized autonomous commerce. Boson disrupts closed ecommerce platforms with an open, tokenized economy of things, powered by DeFi and Web3 data.
Boson Protocol unbundles and demonopolizes the centralized e-commerce intermediaries who currently dominate the market, and provides a more equitable distribution of value, allowing users to monetize their customer preference data on an opt-in basis.
They give a new flavour to the competition and I really hope to see more from the team. However, allow me to discuss more of their network and the token.
CEO and Co-Founder of Boson Protocol quoted in one of his intimate interviews, “Our goal is for Boson Protocol to become the basic plumbing for commerce and its data on the emerging decentralised web.”
CEO Justin Banon has a huge perspective on how commerce should work and they are continuously facilitating the creation of an industry first. Wherein, consumers can purchase real-world products using the rewards they have earned in-game, without having to exchange for fiat currency.
Without a doubt, this could be a major progress not just for the industry, but also for the dCommerce ecosystem as a whole.
What is a $BOSON token?
Just like other tokens I featured on my blog, the $BOSON token is used for governance, incentives and staking. It ensures the consensus around critical decisions and the issuance of funds from the dCommerce DAO.
Users can get $BOSON from participating in the events, programs and other projects inside the network. However, for data sharing, buyers are incentivized to share their data in return for an equitable cut of the value it creates
Buyers and sellers may reduce their network fees for coordination of transactions when they use $BOSON as part of the staking.
What makes the Boson Protocol unique from the other networks?
They laid different features on the website, such as:
- Online commerce: Open digital marketplaces where any Thing (real-world products and services) can be offered, searched and exchanged with minimized trust, cost and arbitration.
- Gaming: Enabled video games to grant permission for users to buy rare or special items that are redeemable in the real world
- Digital + Physical NFT Art: Art collectors are ensured that they will receive the physical twin of their digital art.
- Crypto-native rewards: enabled exchanges and crypto credit cards to reward their clients with tokens that can be redeemed for real-world rewards in order to differentiate by engagement rather than competing on fees, and thus increasing token value or safeguarding margins.
Where is $BOSON available?
There are many exchanges that claim the title of “best” exchange. While this may all seem simple enough, however, in choosing the best crypto exchange to invest in, a customer has to pay attention to a myriad of considerations like fees, reputation, security, verification processes, and geographical restrictions an exchange platform has to offer.
To better understand most of the exchanges, as well as some of them that are working actively towards this goal, first, we need to understand some several factors that these crypto exchanges are currently working on:
- Security: Safety should always come first. A good exchange will place great emphasis on the security of their users’ accounts, personal information, and the system in general. The majority of the assets should be stored offline in a cold storage system. Also be on the lookout for additional security features such as Two-factor authentication, withdrawal confirmations, etc.
- Reputation: A well established, long-standing exchange is a much safer option.
- 24/7 Support: The support should be responsive, friendly, professional, and ideally reachable through several different channels. A call center is a big plus as it’s comforting to know you have the option to speak to someone in person.
- Payment methods: Take into consideration which payment methods are available — do they support credit card purchases, p2p fiat trades, and other methods of payment.
- Fees: Fees can vary substantially between different exchanges. The fee schedule has to be provided on the site.
- Interface: The site should be easy to navigate, even for crypto beginners.
- Geographical restrictions: Some exchanges are locally restricted and their service might not be available in your area.
- Uptime: Avoid exchanges with lots of downtimes.
- Verification: Even though some users find verification and KYC procedures a hassle, you should look at it from another perspective. They are done with the best intention to protect the exchange from money laundering and all sorts of scams.
Taking everything into consideration, KuCoin is one of the many cryptocurrency exchanges who explored the concept of what the future of cryptocurrency trading looks like. It is also a reputable exchange that adds high-quality projects.
The Best Crypto Exchange To Buy $BOSON 2021
There are several exchanges, in fact, catering to different requirements and varying in terms of safety and security, convenience, accessibility, and so on. But unlike most of them, KuCoin is unique in its approach. From their timely upgrades, reports, and recently introduced products & features like KuChain, Margin, KuCoin Futures, Soft Staking, and Pool-X is what I think helps them build a better ecosystem for traders. Significantly, the structure of Kucoin is utterly fascinating, which shows they are more interested in long term growth. I’d say with their competitive services and reputable brand, KuCoin is already one of the leading cryptocurrency exchanges today.
