BLOCKCHAIN BASICS OF THE DAY Hello Miners, It has come to th | Eagle Network Announcement

BLOCKCHAIN BASICS OF THE DAY

Hello Miners,

It has come to the attention of the core team that some members have wrong assumptions about blockchain transactions; no worries, please read the below points carefully to be updated henceforth . . . .

Point 1
Eagle Network uses Binance Smart Chain (blockchain) pending release of EgonCoin Blockchain in late 2022.
EMT, EAN, EgonSwap Token are all created from the Binance Smart Chain blockchain, EMT, EAN, and EgonSwap Token are all Binance Smart Chain blockchain tokens.

Point 2
Transaction fees are charged by the blockchain from Binance Smart Chain node validators. The fee is like $0.2 for each transaction, and it can be more or less depending on the blockchain network condition &
This is how ALL blockchain tokens/coins work.

Points 3
Each transaction( BUY/SELL/TRANSFER) has a compulsory fee charged by the smart chain that our tokens are built-on and go directly to the node validators! For example, the average ETH transaction fee is around 25USD, and our average BSC-based token fee is around 0.2USD, so using Binance Smart Chain blockchain is way better for transactions.

Point 4
Token/Coin movement fees are paid from the sender's wallet. This means you pay these fees whenever you want to send your token/coin into another wallet; even sending to self wallet fees are given to Binance Smart Chain blockchain validators.

Point 5
All blockchain transactions: To sell, to stake, to Swap, to send, etc., you pay blockchain fees to the Binance Smart Chain system as mentioned in point 2

Point 6
Why understanding the basics of fees and transaction is important? This information will help you do your transactions confidently, and this also clarifies the role of Eagle Network using Binance Smart Chain blockchain at this point. This removes misinformation.

Point 7
Read all points again and again, and PLEASE start understanding the BASICS of CRYPTO WORLD!

More Updates coming up

Have a good day

Eagle Network Team