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Highlights
- Bright Token is the recently launched cryptocurrency of the BrightID Project.
- Bright Token has a maximum supply of 100 million tokens.
- BrightID is an open-source platform, and everything is transparent and free. It is designed in such a way that everyone can use it.
Social identity network, the BrightID Project, launched the BRIGHT token on September 16 and it is responsible for making the BrightDAO work. DAO or Decentralized Autonomous Organization is an entity with no central leadership and where rules are encoded as a transparent computer program.
After the launch, the BRIGHT token had clocked an all-time high of US$ 1.9 per token on September 17, and on Monday, September 20, it reached an all-time low of US$ 0.87 per token. That said, the newly launched virtual currency could gain the attention of crypto enthusiasts as the global acceptance of cryptocurrencies is increasing.
What is the BrightID Project?
The social identity network enables users to prove that they are using only one account and it does not require personal information. As privacy is one of the essential elements of any project, the non-invasive nature of the BrightID Project enables users to prove their humanness without compromising their privacy.
BrightID is an open-source platform, and everything is transparent and free. It is designed in such a way that everyone can use it.
According to the project's website, BrightID has been integrated with 12 applications and has been downloaded over 21,000 times. It presently has over 16,000 users and the project's partners include 1Hive, Gitcoin, Aragon and The Ether.
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All you need to know about the BRIGHT token
It is the token behind BrightDAO, which aims to expand the community that supports the BrightID Project. BrightDAO's vision is that humans can benefit by proving their uniqueness and BrightID is the tool to achieve it and maintain user privacy.
The BRIGHT token has a maximum supply of 100 million tokens and the project limits the minting of these tokens to 10 million BRIGHT tokens per year. The token can be allocated through a fairdrop and ongoing fair distribution mechanisms.
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In simple terms, a fairdrop means that the rewards are given per person and not per address under this allocation system.
According to CoinMarketCap, the 24-hour volume of the BRIGHT token was $ 1,705,619 and the fully diluted market cap was $ 22,615,011, at the time of writing.
As it is a newly launched cryptocurrency, the price of the BRIGHT token could see volatility and hover between US$ 1 to US$ 1.5 apiece till the end of this year.
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Bottom line
If you are interested in this cryptocurrency, then you must know the top cryptocurrency exchanges for trading BRIGHT tokens. According to CoinMarketCap, BRIGHT tokens could be traded at Uniswap, BKEX, MEXC and LBank among others.
