Bee Network Overview
It was founded by an anonymous team in December 2020. The Bee Network simulates a beehive in which each member has a companion role and reward. In addition, the platform’s economic model is designed so that early adopters earn more than laggards.
This is possible because the mining speed of the Bee coin is halved with each exponential increase in the number of users.
In addition, over time, the platform will reward sponsors and developers. In addition, the Bee Network informs the public about cryptocurrency and blockchain technology through its news channel.
As mentioned earlier, Bee Coin currently has no monetary value. The idea now is to bring as many users to the platform as possible so that when the coin finally has value, many people have enough money to trade money and other products. Later in this article, you will learn when Bee coins are most likely to have a monetary value. Now, let us see how the platform works.
How the Bee Network Operates?
Mining Bee Coins is free, and the app is straightforward to use. If you’re already a Pi user, navigating the Bee network is easy. All you have to do is download the app, register with an invitation code (judeumeano) and log in every 24 hours to mine coins.
a. Visioner/Miner: In the Bee network, user roles affect the number of coins they earn each day. Earn at the network base rate, which is currently 0.4 bees (09/21/21).
b. Ambassador/Referrer: His guests become members of his team. As the application progresses, they can complete tasks together. His reward = (basic rate) + (basic rate) x 25% x (the number of active miners in his team). Therefore, besides the things he mines every day, he will also receive 2Bee.
c. Verifier : Members of each circle must complete KYC. By adding a user to your process, you confirm that you know him personally as someone you can trust.
This role is currently not working. Next, we’ll look at the coin offering on this network.
Bee Coin Supply
The number of users on the network determines the number of Bee coins.
The coin was mined at 1.6 bees/hour when the network was first launched. When the user base increased to 100,000, the mining speed halved to 0.8 Bees/hour. Then it dropped by half to 0.4 bees/hour. As the user base grows to 10 million, the mining speed will halve to 0.2Bee / hour, 0.1bee / hour.
Development Plan Of The Bee Network
The total number of Bee Coins will be calculated when the network reaches 1 billion users. All coins belonging to miners, referents, verifiers and the core development team make up a joint proposal. This team receives 25% of the total coins owned by miners, referrals and verifiers as a development reward.
Part of this award will also go to the sponsors of the network. Now let’s take a look at the roadmap for this network.