AdvertisemenIf you’re an ardent follower of digital assets, you must have heard of Bitcoin. Bitcoin was literal John; fore-runner to other currencies that soon came on board the blockchain. It is common knowledge that these currencies didn’t make good its quest to become global payments. Since they were restricted to the digital space, there was need to create a transaction channel. This need created centralized exchanges. The former was later replaced by decentralized exchanges.
Current exchanges on board are not favorable trade-wise. First, excess charges are placed on transactions. Coupled by low throughput experienced during transactions, such charges seem uncalled for. To this end, HiBTC was developed as perfect solution to exchange downsides.
Empowering Users in Decision-Making Trading on current exchanges might seem favorable for some but greater majority of traders are fed up with centralized control exhibited there. Hence, HiBTC is offering users that want to trade here free-hand to take pertinent decisions.
It would be good idea lending your voice when trading goes south. More so, you can take part in elections and recommending currencies. For the latter, the exchanges on ground seem slow in integrating viable currencies. However, if you feel a currency is worth trading and has future prospects, all you have to do is recommend it to HiBTC and if found viable, it gets integrated.
Before jumping at these prospects, it is pertinent to note the underlined feature. HiBTC’s governance is restricted to token holders. This literally means that mere users are not availed decision-making except they acquire as little as 5% HIBT token.
I would have liked to boast that I discovered Blockchain technology and I was one of it's very early users but that would be a lie, I discovered the existence of blockchain technology sometime in 2015 and I immediately knew that I have stumbled on a Goldmine and that Blockchain was going to be the future. One of the first innovations brought by the Blockchain is Bitcoin.
Before the invention of blockchain technology, finance itself was heavily centralised, for example, you cannot send funds from one country to another without using centralised institutions like banks, most times these banks need your physical presence before the transactions are executed, this leads to time wastage and frustration because your have to leave your other activities and focus on that.
Then came the Magical Bitcoin, which made it possible to make truly peer-to-peer transactions across the world no matter the location, no matter the currency, no matter the language, Bitcoin can be transacted from the comforts of your home and the best part is that because of the decentralisation of the Blockchain, you can track the transaction until it's final destination. Sounds too good to be true right? Well, it had some downside and we are about to look at them now and after the problems are outlined, inwojld tell you about the solution I discovered and the picture below is a hint.
The year 2017 is jokingly referred to as the year of Cryptocurrencies because that is when Blockchain users spiked so much that we started seeing the problems which were previously not an issue, infact in December 2017, the CoinMarketCap of all Cryptocurrencies hit an All Time High(ATH) of almost One Trillion US Dollars. The sudden spike in users exposed the vulnerabilities and some of them are Scalability and Speed of Transactions.
The Bitcoin Blockchain was made to handle 7TPS(Transactions Per Second) and the Ethereum Blockchain was built to handle 15TPS, and in that time period, Users in the Bitcoin Blockchain alone were making way more than 7TPS and this caused a terrible backlog in the Blockchain which lead to longer transaction confirmation time and higher transaction fees, users were having to pay as high as $25 as transaction fee and some had to wait for days before their transactions were confirmed.
This has made integration of Cryptocurrencies in the real world almost because existing Blockchains would not be able to handle the number of transactions not guarantee a frictionless blockchain experience, this problem is what made the HiBTC team to introduce a revolutionary solution called HiBTC.
HiBTC As A Solution
It is Estimated that one of the leading Cryptocurrency exchange has made over $300,000,000 in profit just in the first half of this year alone, Billions of dollars worth of trades are conducted in various cryptocurrency exchanges every single day and this is something that happens every single day, But most of these exchanges tend to keep the profits generated from those exchanges for themselves, they don't give back to the community nor traders.
Have you ever wished there was a Cryptocurrency exchange that distributes some of it's profits to it's community members and supporters? Have you ever wished there was a fast, secure and reliable way to earn rewards just by holding a particular token? If your answer to these questions is yes, then I have very good news for you, such an exchange does exist and it's name is HiBTC.
Before I tell you why HiBTC decided to use such a operation model, it is imperative to tell you a little if this revolutionary exchange's history especially the Origin of it's name.
Like I mentioned earlier, Blockchain technology is here to establish a transparent and fair credit society. This is an aim shared by the founders of HiBTc Exchange and to show solidarity to this noble aim, they decided to name their platform Hi & BTC, like we all know, Hi means different things but it in general, it is used to show friendliness and support, so in other words, HiBTC name itself is engineered to show support to Bitcoin which is the first ever product of the Blockchain Technology. HiBTC is here to create a transparent and Fair Exchange Platform.
Security of assets had been one of the problems that scare off investors. In bid to have firm hold of users’ interest in the platform, HiBTC had forged partnerships with top security agencies. The latter had examined codes to be used by the platform. On its part, HiBTC is using multi-layer firewalls in addition to multiple signatures. On the other hand, cold wallet was used in placing greater majority of users’ assets in high protection.
The FomoHIBT Pool
One might wonder how HiBTC tends to scale herculean task of rewarding all users without hitches. To this end, the FomoHIBT Pool was set-up. Designed as prize pool, it will be responsible for even distribution of benefits with its users.
The pool was designed to boom at same proportion with the exchange’s trading profit. Those to be considered as beneficiaries are basically positive contributors. These contributors are those whose trade profited greatly within the day interval of such trades.
The prize pool will be allowed to accumulate and every profit deposited in the Holder Shared Fund Account will be turned in. The pool will get released whenever the HIBT token had clocked specified rate. As soon as this happens, the dividends that had been accumulated in the prize pool will be evenly distributed among positive contributors for each day.
Distribution of Tokens
Holder Shared Fund: 18%
HiBTC is much more than an exchange because its scope covers governance and other gray areas in trading. Coupled with its reward mechanism, the platform is bound to set new records in cryptographic exchanges.
Exchange : https://www.hibtc.com
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=877999