What is Chronobank (TIME)?
Future of TIME Cryptocurrency and know how to buy TIME

#1 - What is ChronoBank (TIME)?

  1. ChronoBank is a decentralized recruitment solution that runs on the Ethereum blockchain. This open-source project is inspired by Uber and aims to disrupt the global finance and recruitment industries the same way Uber disrupted the taxi industry.
  2. TIME token is the official cryptocurrency of the ChronoBank platform. It is the fuel that runs the entire ChronoBank ecosystem. In other words TIME token is a means to acquire funds, necessary for continuing the workflow of ChronoBank platform.
  3. LaborX is the flagship product of ChronoBank project. It is a marketplace where clients can list available assignments or vacancies and freelancers can find those jobs. LaborX will use Labour Hour token (LH) to pay the labour hours providers. The LaborX project is currently in testnet.
  4. The LH tokens have a standardised value of a standard labour hour charge in a country. So far the labour hour token is standardised for four countries and currencies: LHEU (European Union), LHUS (United States), LHAU (Australia) and LHUK (United Kingdom).

Development of ChronoBank

  1. The ChronoBank core team is based in Sydney, Australia. It was founded by Sergei Sergienko and Paul Glover. Sergei serves as the CEO of ChronoBank. He is also the co-founder of Edway Group Ltd. and has represented Australia at a G20 summit.
  2. ChronoBank’s initial coin offering ran between December 2016 and February 2017 and raised about $5.4 million. A total of 710,112 TIME tokens were minted, which were later distributed among the staff and participants in the following percentage:
    - 88% to the ICO participants,
    - 10% to the development team and
    - 2% to the company’s advisors.

 

#2 - What are the Benefits of ChronoBank (TIME)?

ChronoBank Technology

  1. ChronoBank is a decentralized platform which aims to provide an automated solution for hiring individuals and managing specific work contracts. The project leverages the Ethereum blockchain for performing its core functions, allowing lower operational and maintenance costs.
  2. The Blockchain is an immutable record system and any data recorded in it will be permanent. So for ensuring privacy and transparency ChronoBank divides data into two profiles — public profiles and private profiles. ChronoBank makes sure that any sensitive data will never appear on blockchain and any non-sensitive data is stored in the InterPlanetary File System (IPFS).

Key Features of ChronoBank Labour–Hour

  1. Multiple blockchain support: Currently, ChronoBank is based on the Ethereum blockchain, The project is expected to be ported to other blockchains - like Waves and NEM. The multiple blockchain support will allow ChronoBank to be more flexible.
  2. Stable tokens: Labour Hour tokens have a fixed value in fiat currency, each country specialized token has a standard value of a national labour hour. The value of an LH token will only increase with the hike of country’s labour hour charges.
  3. Transparency: The ChronoBank project has blockchain at its roots. This guarantees a decentralized immutable ledger. Also, the project itself is open-source for the sake of transparency.
  4. A simple alternative financial solution: The use of the blockchain technology eliminates any need for third party involvement, providing a simple and a simple and fast transactions system. On the side note, The UI/UX is also specially designed to facilitate one-click transactions.

 

#3 - How to Buy and Store TIME Token?

How to Buy TIME Token?

ChronoBank has a fixed supply of its TIME token, so TIME mining is not possible on the ChronoBank platform. However, users can still obtain the TIME token via trading on a cryptocurrency exchange.

  1. The TIME token is available for trade on many global cryptocurrency exchanges, some popular options are HitBTC, Kucoin, Liqui, Livecoin, etc. BTC and ETH are two most popular pairing choices on most markets.
  2. The best way to TIME or any other cryptocurrency is using CoinSwitch, the best cryptocurrency trading platform. It allows users to access the whole cryptocurrency market at one place, users can compare and trade cryptocurrencies across all leading exchanges in real-time. It also provides wallet facility to store exchanged or to be exchanged tokens or coins.

How to Store TIME token?

  1. TIME is an ERC-20 token, so it can only be stored a wallet that supports Ethereum. One popular option is MyEtherWallet.
  2. ChronoBank also provides its own official wallet called the ChronoWallet.
  3. Apart from the web, wallets hardware wallets are also a secure method to store TIME such as Ledger Nano S and Trezor.

 

#4 - What is the future of ChronoBank (TIME)?

Trend so far

  1. As of July 2018, the ChronoBank cryptocurrency has a market capitalisation of more than $8.3 million, giving it a ranking of 475in the global cryptocurrency market. There are 710,113 TIME tokens in circulation.
  2. On Feb 27, 2017, the ChronoBank cryptocurrency launched in the market at an initial price of $12.89. Immediately its price witnessed a decline which lasted until mid April of the same year.
  3. During trading day its price of increased to all time highest of $53.97, enabling nearly 400% return on investment.

Also Read: Complete Analysis of Chronobank | Live Chronobank (TIME) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

12.22

12.46

12.10

12.25

193,693

8,674,030

Mar 01, 2018

17.79

19.68

17.57

19.37

638,520

12,635,400

Nov 01, 2017

23.13

24.07

22.93

23.89

418,032

16,424,800

Aug 01, 2017

15.09

15.49

14.43

15.29

438,614

10,718,600

May 01, 2017

10.81

11.05

10.40

10.82

381,689

7,678,800

Feb 27, 2017

12.89

13.75

1.18

9.40

42,133

-

ChronoBank has partnered with many blockchain-based businesses such as DBrain, Paragon, Bcoin, TokenEST, Ox, Blackmoon Crypto, ICOpromo, Waves, NEM and many others.

 

#5 - How TIME is different?

  1. Unlike Bitcoin, which is only a peer-to-peer payment system, TIME is a tool used to raise the required funds for the development of the ChronoBank network. It is an integral part of the ChronoBank ecosystem and provides several other functionalities.
  2. After the launch of LaborX, TIME will play an even more important role in ChronoBank platform. TIME holder will be able to stake their TIME token to mine Labour Hour Token (LHT).
  3. Currently, Time is an Ethereum based cryptocurrency but developers claim that in case of any possible failure of Ethereum, it could be ported to other blockchains, making it truly a flexible cryptocurrency.

 

#6 - Should you Invest in ChronoBank (TIME)?

  1. ChronoBank is aiming to achieve success by following a path laid previously by Uber. Since its inception, ChronoBank’s performance in the cryptocurrency market has followed a rather stable path. Of course, there are some fluctuations from time-to-time.
  2. ChronBank claims to be backed by a team of professionals who have 100 years of combined experience in the recruitment industry.
  3. ChronoBank has many promising projects developing scheduled, such as the ChronoMint and TIMEx and its flagship product, LaborX. LaborX will soon see its release in August 2018. Still, new investors may want to wait a little longer before making any investment decisions.
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