Coin exchange Huobi Global listed HitChain (HIT), the blockchain for developers by developers, with two trading pairs at August’s start. Beginning August 2, 2018, the HIT coin traded with Bitcoin (BTC) and Ether (ETC). The initial listing on Huobi marks the first HitChain global listing.
The exchange phased in its HIT trading opening it to deposits on August 2 and trading on August 3. It will enable withdrawals beginning August 9, 2018.
HITChain Basics
HitChain provides a decentralized and collaborative blockchain developer community. Its founders recognized that developers lay at the end of the value chain throughout the technology industry which it determined created an unfair proposition for the people who do most of the “heavy lifting” in creating an app or web presence.
HIT Chain creates a mechanism for protection of a developer’s intellectual property. The current platform offers an open source application under a centralized control, but which offers a decentralized service. The simple goal for the firm is to surpass GitHub in number and quality of developers.
Who’s Behind HITChain
HITChain features an extremely experienced team that differentiates it from many blockchain technology firms today. The idea for HITChain came out of a mecca of technology ideas – Microsoft. More specifically, the Chief Technology Officer (CTO) of Microsoft China, Jiang Li, who serves as chairman and director of the Hitchain Foundation. He combines his accumulated long-term knowledge of blockchain technology, cloud computing and open source technology to guide the operation and strategy of the firm.
Jiang Li, by www.hitchain.org
He’s joined at the helm by Singapore’s Khee Joo Tan who serves as director of the Hitchain Foundation. He served as the TIBCO CTO in APAC. He contributes more than 30 years of APAC software experience. Tan leads HITChain’s business development and international promotion. Their fellow co-director, Hong Kong’s Leon Li, Intel’s open-source expert and one of China’s first RHCA Certified Architect leads the open-source system development.
It’s development team shares a tendency for heavy hitters with its business team. Its development team leaders include Japan’s Nick Ma, a core contributor and maintainer at the OpenStack Foundation. He also serves as Telexistence Inc.’s Chief Cloud Architect. His development duties include its framework and key module research. He’s joined by China’s Jerry Li a Git protocol expert with more than 10 years of research and development experience; David Mei, one of China’s earliest blockchain developers and experts; the US’ Dr. Thomas Tan, a data scientist specializing in distributed storage at IBM.
The firm’s advisors include Jia Tian, Haobo Ma, Binsheng Wang, David Wu, Zhongyang Chen, and Zhongxing Xu.
On the Road to a HIT
The firm just started in 2018. It’s readying for its second road map item – its third quarter development launch and token sale. It’s first was team assembly.
You won’t find much out there about the firm yet. It doesn’t open its online community until fourth quarter of 2018. Other planned highlights include bringing its public chain online in second quarter 2019, when it will also release its protocol. Thereafter, it will continue community development and optimization.
Why Invest Early?
The smart money’s on HitChain – literally. The firm’s impressive list of institutional investors illustrate that experts believe its technical features and open source ecosystem show promise. Those institutional investors include:
- BitMain: the top chip R&D company worldwide,
- Huobi Capital,
- Draper Dragon: angle investor Tim Draper.
HITChain also gets a gold star for its source code, especially its smart contract and lock-up settings. Actually, its public source code at GitHub had received 342 stars at publication. It received 718 commits from 15 contributors. One item of comment included its precise smart contract design that controls each lock-up and unlock by code.
Others already discovered the value of this blockchain for developers. Investors now have the opportunity to discover it, too, since Huobi Global listed it.
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