What is biconomy token (bit)?

What Is Biconomy Token (BIT)? BIT is a decentralized digital asset based on the Binance Smart Chain and is BEP20 compliant. The BIT Token is created for the benefit of the community, Biconomy ensured that the community has the most desirable terms and commissions when it comes to transferring the token.

How do API tokens work?

API tokens work very similarly to APIs. Like an API, an API token delivers a payload in a predetermined format. Think of the API as a lock with the API token having the necessary grooves to turn the tumblers. An API token follows a set series of steps. First, the API verifies the username and password from the payload.

Why is the bit token worth so much?

The BIT Token is created for the benefit of the community, Biconomy ensured that the community has the most desirable terms and commissions when it comes to transferring the token. BIT’s value is in part reliant upon the reputation of the Biconomy crypto exchange, yet other factors also have an impact.

What is token-based authentication?

Token-based authentication is different from traditional password-based or server-based authentication techniques. Tokens offer a second layer of security, and administrators have detailed control over each action and transaction. But using tokens requires a bit of coding know-how.