Although the electronic money market has consistently fallen sharply, compared to its potential in the future, capitalization is now a grain of sand. Therefore, taking advantage of the current time, many trading floors have been born to prepare for the market share war coming. Among them, HiBTC
What is HiBTC?
First of all, you note to help yourself is HiBTC, not the HitBTC has been released so long offline. About HiBTC, this is a very new trading platform, and just launched around early August/2018. Like the recent general trend of the new floor, HiBTC also goes in the direction of trading as mining, and divides the profits for those who own the tokens of the floor. Some of the highlights are CoinEX, BTCC, IDCM, Bgogo, etc. Although it looks like Ponzi, this is a great way to attract users, and improve liquidity. Moreover, this model not only helps the floor but also benefits investors, if the floor has a large trading volume.
On the site, HiBTC has not yet published specific information about the founding team, and its headquarters. However, if you read through Section 4 of the Terms of Service, you think that the floor was established in Hong Kong because of the mention of the Monetary Authority, and Hong Kong Customs. Assuming it is true, it is not surprising that most of the floors are based in this city. Notably, HiBTC claims that they are backed by the Ceyuan Digital Assets Foundation, and is one of Cybermiles’ strategic partners. Accordingly, the tokens that run on the CMT network are highly likely to be listed on the floor.At present, the floor supports only 6 electronic currencies namely BTC, ETH, LTC, BCH, USDT and HIBTC, CMT, USE, soon more coin otherAccording to information on the website, HIBT is the only private currency issued by HiBTC, evidence of the floor. Specifically, it will be issued under the principle of “trading as mining”, invite friends and will stop until it reaches 10 billion tokens. HiBTC will divide its earnings to HIBT holders. At the same time, the owners also have the right to participate in important decisions and management areas, including listing new tokens, transaction fees … In addition, the floor also plans to “ “ Users can voluntarily take part or all of the HIBT lock on the floor and enjoy over-rate sharing with different rates. The longer the lock time, the higher the divide rate.
What is trade mining?
It is the new cool thing in the crypto space and just like I said earlier it is always best to grab them young in the crypto space. Trade mining is a new initiative introduced by FCoinOffical, it is the new way crypto exchangers share their profit with their token holders and community/users.Users of exchangers using the trade mining business model get their share based on the amount of the exchange tokens they hold on the exchange wallet or trade volume. This share is coming from the profit these type of exchangers made on trade fees and some other activities on the exchange. So far it has been a working business model, it worked perfectly for coinex and some other exchanges like Hibtc have adopted this business model.In the case of Coinex Token, the exchange which issued its own exchange token in February 2018 with token price between 1 cent or less, experienced a huge jump in the price of its exchange token from 1 cent trading upto 5 cent after they announced their plans to implement trade-driven mining along with dividend distribution to all token holders on June 20, 2018. Investors rushed the tokens in FOMO which increased the trade volume on the exchange, 80% of the exchange trading fees were then used to buy back the exchange tokens which caused a huge increase in the buy order and increased the value of the tokens from 5cents upto 15 cents. Exchange happy, Investors/Token holders got good returns because they FOMO and took action.
The major advantage of trade-driven mining is that it attracts traders and market makers to the exchange.
Features
1). Security:
The Security of funds and users in the HiBTC platform is the top priority of the HiBtC Team, because of the Billions of transactions that passes through exchanges in a daily basis, they have been serially targeted by hackers in recent years, I remember the 2014 incident involving the Premier cryptocurrency exchange named MT.GOX in which 740,000 was carried away by hackers, up till date this remains the biggest cryptocurrency heist that has been carried out in a Cryptocurrency exchange, this loot is worth $4.4 billion dollars at present rate of Bitcoin.Unfortunately this isn't an isolated incident, there has been other incidents as where exchanges were hacked and users funds carted away, this is why the HiBTC Team made sure they used multi-layer firewalls, multi-signature, and cold hot money bag isolation programs to maximize the security of user assets. Additionally, they are working closely with top security Outfits to ensure the security of asset is guaranteed in the HiBTC Platform.
2). World Class Transaction Framework:
Have you ever tried to trade in an exchange and it keeps crashing or errors keep popping up? This is as a result of the limited number of transactions that the exchange's matching algorithm is built to handle, in HiBTC these concerns would does not need to bother any trader, HiBTC is built to handle 2,000,000(TPS) (Transactions Per Second).
3). Revenue Sharing:
This is one very unique and innovative feature of HiBTC, HiBTC has it's very own native token called the HIBT Token, Users of the platform are rewarded just for holding this token, 50% of the HiBTC token is distributed to traders who also hold the HIBT tokens and the revenue generated from the platform is distributed to the holders of the HIBT as well, HiBTC presents a passive earning opportunity to it's users, this innovative process is known as Trading Mining.
4). Rights Sharing & Transparency:
HiBTC Exchange is unlike any existing centralised exchange platform because it gives the it's users decision making rights, for example, A user group that holds 5% or more of HIBT total circulating supply can independently recommend a cryptocurrency to be listed in HiBTC, Isn't that mind-blowing?. Additionally, the rights to make major decisions in the platform shall be vested on the HIBT token holders.Additionally, all data related to user's interests, including platform transaction data, income data, mining data, voting data, etc shall be published and verifiable by users.
HIBTC ROADMAP
Jul 14 Opened beta adaptation of HiBTCAug.
18 Opened HIBTC Exchange variant 1.0
September 18 Smart Conquest Token to report posting, open voting capacity
Nov 18 Mobile application dispatchDischarged money related subsidiaries on December 18
CONCLUSION
Right now, the HIBTC venture is arranging different events. The abnormal state of profits is fascinating on the grounds that it enables us to utilize the arrangement of profits in excess. HIBT holders will have the right to participate in decision making process via voting. Voting will be facilitated by smart contract voting system.
A certain amount of HBIT holders will be awarded with right to recommend a token listing. For a clearer comprehension of the task, prescribed connections for additional perusal are given beneath.
Following more information;
Website: https://www.hibtc.com
Social
Telegram: https://t.me/www_HiBTC_com1
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Twitter: https://twitter.com/HiBTC_Exchange
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