Advantages of the BNB blockchain
Our team picked BNB Chain because of 5 reasons.
Smart contract functionality A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. A well-crafted smart contract on the BNB blockchain platform will ensure the platform's entire security, which is the most critical point in our choice. Transaction cost Cost-effectiveness is a feature our team considered nearly at first because low transaction fees could influence broader adoption of the fan tokens and NFTs especially. We picked BNB because it fully satisfies our needs. Transaction Speed When a blockchain platform with poor throughput is employed, for example, users will be required to pay greater fees to miners in order for their transactions to be prioritized over others. Therefore, talking about cost and transaction fee, we tried to make a balance. Security Our team planned to pick a blockchain platform with a proven track record of preserving a secure history of peer-review and mining-free consensus processes, such as proof of stake, to ensure no security breaches (PoS). That's why we chose BNB Chain. Scalability On the blockchain, scalability refers to a platform's capacity to process a large number of transactions per second (TPS). Through the use of BNB, Sport Investing platform users will be able to make fast and cheap transactions within the platform, buying and selling fan-tokens of their favorite athletes.
Risks
While there is a risk that could be somewhat linked with the blockchain, for example, the risk of hacking. We picked one of the most secure blockchain with special regard to the way validators get and process transactions. So, we decreased risks of hacking at the highest level. Besides that, there are some risks and problems regarding fan tokens.
The risk associated with taxation. The tax profile of Sport Investing is still uncertain. The participant must take into account the appearance of taxation in connection with the getting SITX, which in the future may affect the final profitability from the purchase of the main token and fan tokens. The Sport Investing team undertakes to communicate any changes in tax legislation by publishing information on Sport Investing’s social networks.
The risk of changes in the exchange rate of SITX tokens and fan tokens. Sport Investing users must understand the risks of changes in the exchange rate of tokens, which can entail not only potential profits, but also losses. This would be alongside strategy for users of Sport Investing.
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