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Bee network is a decentralized autonomous organization that maneuvers on the Ethereum platform. It offers a new form of cryptocurrency called Bee, a digital form of money or token mined by ordinary people daily via their phones. It is a trending project that keeps the users engaged in earning Bee and gigantic potential. There is one simple way that the users have to follow, which is referred to as Mining, i.e., by simply clicking on a button once every day. By pursuing it, the users will be rewarded with the new cryptocurrency in the future.
Suppose you are wondering if Bee Network is genuine or a scam or legit or worth investing in. You have come to the perfect place.
Many people have been wondering if this network is a delusion helping make money or just a waste of time. The application runs by producing a robust base of networking followed by a simple trick to click on the mining button. The brainchild of this network is unique and encourages all of its clients. The audience of this app is usually found in the UK, Ireland, India, some other nations, and most of the people doing this as their new business. This new cryptographic money has gained popularity daily and developed into a new digital blockchain creation strategy.
How does Bee Network operate?
The bee network site is Bee.com, and its white paper tries to explain how it works, but the explanation isn’t clean-cut. The bee network certifies the trust of every user in Mining, and every user has different positions.
Here are Bee network positions/roles:-
Visioner or PioneerÂ
Every user will obtain the base rate of 1.6 bee/hour only once every 24 hours, and then a new session starts. The thing to be noted is that the base rate will be deducted to 50% on 4 times, depending upon the growth of the bee network.
Referrer or AmbassadorÂ
It works as a chain, where the visioners can refer their family or friends to join the team. The new visioners will also be able to work together with the existing ones and complete tasks together, which will be launched when the app enters different phases.
Verifier
The role of the verifier will come to the field only when the bee network enters Phase 2. The bee network intends to build teamwork with trusted people as a team, and the verifier’s role is to bring just that. The verifier will ensure that the person they have involved is ethical and trustworthy.
Phases of Bee NetworkÂ
- Phase 1: When the users range from 0 to 1 million users. This phase has been achieved.
- Phase 2: when the users range from 1 million to 10 million users. This phase will be provided with Know your customer (KYC) to ensure that the users are not fraudulent and are valid. Community services will also be provided by the app, which will enable the users to have a sustainably oriented contribution.
- Phase 3: when the users’ count will range from 10 million to 100 million, the network will reach phase 3. The users will undergo a marketplace where they can exchange Bee Network value. The transactions will be nurtured using blockchain technology.
How does the Bee Project work?
Once the user has clicked on the mining button, the 24-hour period will start. The Bee earning formula is as follows:
- Base rate x 25% x number of visioners or pioneers.
- Only the active visioner will be taken into account until the session ends.
- The base rate is1.6 bee/hour, as mentioned above. The bee/hour will be reduced to 50%, i.e., 0.8, when the total users count to 1 lac. Another deduction in bee/hour will occur when the user counts to 1 million, accounting for 0.4 bee/hour. Lastly, the bee/hour will be zero when they hit the mark of phase 3 1 billion.
The Bee Project Principles
The Bee Network is built on the following principles:
- When the users hit the mark of 1 billion, then the new supply of Bee will be 0.
- Later joiners will have to suffer as the early ones will get rewards.
- More the contribution to the community, more the reward.
- The number of users will determine the supply of Bees.
- Recognition of the provisions and effort of the core team.
What is the cost of a single Bee?
Recently it was stated as $1. But the Bee Network team members are declaring it to be $100-$150 in the future.
Is Bee Network genuine or a scam?
After all the details, it comes down to the main question.
Is it worth our time and efforts? Is it legit or worth investing?
Despite all the rebukes and alerts, there are some grounds why we could give it a chance.
- Bee Network app is free.
- Not time-consuming
- No investment of money
- Fast developments
- Decent reviews
- Why miss out on some rewards?
Eventually, there are no assurances or inevitabilities. There is always a chance that the application may work out promisingly. It could actually help people make tons of money, but no one can avoid ambiguities.
Anyone with a mobile phone can start their Mining by downloading the Bee Application, which is available for Android and iPhone. The user has to get registered with either a mobile number or Facebook id and add some password. After the registration, the user has to enter a specific username for the account. The users can now start mining and even recommend it to their friends, getting benefits.
The ConclusionÂ
Like many other cryptocurrency applications, one cannot ignore Bee Network. It’s free and easy to commence with. Every user has very little to lose, so you should screen all the best possibilities and you can attain knowledge from a 1K daily profit site. There are some reasons why we need to be cautious but wouldn’t it be amusing if it worked. There is no pressure, but we can monitor the things around and think if it makes sense. Bee Network is offering a free coin that could actually get monetized one day as a new network in play.