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BZZ is the native cryptocurrency of the Swarm decentralised storage protocol. Built on the Ethereum blockchain, Swarm was developed as a decentralised communication, storage, and service system for the implementation of the decentralised internet. The protocol was initially created by Ethereum co-founder, Dr. Gavin Wood, who also co-founded the Polkadot layer-0 protocol in 2016. Swarm’s goal is to be the Web 3.0 operating system of choice, providing users with messaging, music services, video streaming, as well as database hosting.
According to the project’s website, Swarm makes use of Ethereum’s security features and smart-contract technology as well as its ecosystem of developers. The protocol is a complex and ambitious network with permissionless and censorship-resistant infrastructure designed to be Distributed-Denial-of-Service (DDOS) resistant and have zero downtime. The Swarm network aims to be the basis for a fully decentralised internet where data is hosted on a peer-to-peer (P2P) infrastructure and digital services are distributed across a vast network of nodes. Although the protocol was initially focused on decentralised data storage, businesses and individuals can also utilise Swarm’s infrastructure to develop decentralised applications (dApps) and other decentralised services. All data stored within the network is self-sovereign meaning that it is owned and controlled by users.
Swarm is marketed as a self-sustaining protocol because of its incentive-based system powered by its native BZZ token. Users of the network must pay providers and node operators for securing and storing their data. All node operators must act in support of the network to earn BZZ tokens. The token can also be traded for other resources within the network, such as data storage.
Swarm (BZZ) is the 569th largest cryptocurrency in the world by market cap, valued at $33,819,227. The current price of Swarm is $0.75109995, which is 1.552% higher than yesterday. Prices have ranged between $0.75135234 and $0.72590748 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of May 23, 2022 02:05 UTC.
| Coin symbol | BZZ |
|---|---|
| Coin Marketcap | AUD$33,819,227 |
| Total BZZ supply | 63,487,031 |
| Circulating BZZ | 63,487,031 |
| Current price | AUD$0.75109995 |
| All time high | AUD$41.9757 |
| All time high date | June 22, 2021 |
Historical prices compared with the price of $0.75109995.
| 1 hour | 0.76% |
|---|---|
| 24 hours | 1.55% |
| 7 days | 4.84% |
| 14 days | -32.89% |
| 30 days | -57.58% |
|---|---|
| 60 days | -57.30% |
| 200 days | -83.22% |
| 1 year | N/A |
Disclaimer: Cryptocurrencies, including Swarm, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BZZ is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Swarm or any other cryptocurrency discussed.
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