✅ The rise and rise of Huobi
Since the start of their business operations in 2013, digital asset exchange Huobi has come a long way. When they first started, the market was fairly new and insecure.
Important milestones they have already accomplished are:
➡️ April 2014: Huobi became the world’s largest digital asset exchange.
➡️ October 2017: They initialized their global expansion layout.
➡️ January 2018: Huobi’s launched its own exchange token called Huobi Token (HT).
➡️ April of 2018: The cumulative turnover of Huobi Group exceeded the 1 Trillion USD.
The current market cap of Huobi Token (HT) is 271,000,000 USD and it’s ranked at number 57 on the coinmarketcap website. Huobi Token was introduced on Huobi at 0-cost, because it came with 1 USDT worth of Huobi Point Card Points, during a special limited purchase time. During these special flash-sales the Point cards sold out quickly, as people saw the potential value of HT.
The current price of 1 HT is 5.40$, that’s a significant change in value since its launch, especially given we are in a 6-month bear market since the beginning of January 2018. The total supply of HT is 500,000,000 HT while the circulating supply is 50,000,200 HT.
✅ On the 6th of June the 2018 Huobi Branding Global press conference was held in Singapore. During this event an interesting amount of news and new projects were introduced. With the top project being announced Huobi Chain : The next generation Blockchain build by Huobi. But more about that later in this article.
✅ Huobi will be launching a Digital Asset Exchange in Australia conveniently called ‘’Huobi Australia’’. They have officially received permission from AUSTRAC (the Australian regulatory authority to approve cryptocurrency exchanges) to launch a Fiat-to-Coin exchange where digital assets can be traded. They aim to start accepting users at the end of this month and begin trading a little later.
Australia is one of the few countries in the world that has officially liberalized cryptocurrency trading. The AUSTRAC has just recently implemented legislation to prevent Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) and required Bitcoin exchange users to undergo an identification process before trading is enabled.
✅ The best announcement during the conference was saved for last. The introduction of Huobi’s very own next generation Blockchain: Huobi Chain, the next generation autonomous financial protocol.
Building this Decentralized Autonomous Organization (DAO) with open-source software enables self-regulating decentralized financial services. The Huobi Chain provides individuals and companies with a reliable secure financial platform for among others, value exchange (trading digital assets) and fundraising (ICO launch pad). Huobi aims to be the first company that transfers from being corporately driven to community driven.
The future of the Blockchain is it will open up a new world with a new financial infrastructure. Value and ownership can be tokenized, exchanged and traded and this can all be done in a completely decentralized way without intermediate interference.
The Huobi Chain will be: Autonomous, secure, scalable, expandable and interoperable. It also has to be able to pass global regulatory requirements.
The Huobi Chain Project (HCP) will initially have a total of 30,000,000 HT available to build the Huobi Chain public chain. At the moment that’s the equivalent of 162,000,000 USD. Huobi announced they will continue to fund the development of Huobi Chain after the launch with allocating a part of the annual revenue.
To build the actual blockchain Huobi launched: the Huobi Chain Superhero Championship.
This program entails:
➡️ A board of directors and bylaws will be established
➡️ The enrollment of the superhero nominees
➡️ The nominees election campaign
➡️ The Superhero election
➡️ Superhero leads the Huobi Chain development
➡️ The board oversees the progress and re-elect if necessary
The teams of developers work directly under the supervision of the Superhero and contribute to the open-source software in order to create Huobi Chain. Each milestone will come with a prize-pool in which the different development teams compete. It’s possible new development teams will be added during the development. They can use the existing contributions from the open-source software to build upon as they seem fit.
After 18 months Huobi Chain should be ready to be fully functional. Leading up to the end result the development is divided into 4 phases and will pass 8 milestones.
With the implementation of this new Blockchain, Huobi Token will make the transfer from being an ERC-20 token based on the Ethereum blockchain to a main net Huobi Chain token.
If you want to contribute to the development of the Huobi Chain, they are hiring, you can apply directly using the link below:
https://docs.google.com/forms/d/e/1FAIpQLSfmfx133pdiO77_0UQYCalMSAKbgzcr14lPi7grqloOWl8lPQ/viewform
✅ Huobi is expanding at a rapid pace and it seems like no-one can stop them.
They are gaining more and more market share each month and with the expansions into Thailand, Australia, Germany, Brazil and the US they are well on their way to becoming the absolute market leader in the cryptocurrency exchange market.
Huobi’s ultimate goal in a few years’ time: covering the entire planet.
✅ Huobi Pro has a YouTube channel with a weekly live broadcast called Huobi Talk. Each week a specific subject of project will be the main focus of the episode. Make sure to check it out.
The link to the Huobi YouTube Channel: https://www.youtube.com/channel/UCABkgL5rRAk61E2Qtjtqcxw
If you haven’t signed up for a trading account on HADAX or Huobi Pro you can do that by clicking on this link:
https://www.huobi.br.com/en-us/topic/invited/?invite_code=da523