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 other
According 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.
THE PROBLEMS
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.
Advantages of HiBTC:
Safe- HiBTC collaborates with top security companies, examining the platform codes and setting up multi-layer firewallsbefore the platform is put into use, and a"er its launch, using multi-signature and cold/hot wallet separation to place over 90% assets in the cold wallet as so to maximize the security of user assets.
Efficient- provides users with a financial-grade transaction framework, which uses an advanced memory coupling algorithm to handle 2 million transactions per second.
Risk control- risk of single digital currency spot transaction is uncontrollable, and the professional investors are unable to reduce the risk effectively.
Transaction mining-Every !me a user participates in a transaction with HiBTC, a transaction processing fee is generated, and then based on the HIBTC held by the user and the market price of the processing fee paid by the user and the HIBTc market price,HiBTC calculates the number of rewarded HIBTC the user should receive according to a proportion and settle and release the HIBT once per hour.
Revenue sharing-HIBTC holding status of all users and calculate the dividend distribution scheme according to the platform revenues within that hour and the ratio of HIBTC held by each user.
World’s first Holder Shared Fund-HIBTC unlocked in the account will be 100% locked in the fund account un!l the mining is finished and won’t flow into the secondary market, HIBT issued by HiBTC, 1 billion 800 million will be allocated to the Money Holder sharing fund and the fund account will be made publicly to all users right a"er the platform is put into use.
Innovative “1+1” currency listing mode-The “1+1” currency listing dual-channel mode includes a platform selection channel and a HIBTC holder recommendation channel,HIBTC holders recommendation channel of listing.If exceeds a certain amount, users can initiate the recommendation of currencies. Once the recommended support rate reaches the platform’s requirements, the platform will issue an inviting currency to the project side.
Right sharing- the right to make decisions on major issues, income rights, the right to elect community representatives, etc.which will be fully returned to HIBTC holders.
Transparent and orderly-HiBTC will publicize all data related to user interests on a real-!me or regular basis, including but not limited to platform transaction data, income data, mining data, and voting data, which shall be query able, traceable and verifiable.
Website : https://www.hibtc.com/#/act/homepage
Whitepaper : https://www.hibtc.com/om/about/en-us/whitepaper.pdf
Telegram : https://t.me/www_HIBTC_com1
My Profil : https://bitcointalk.org/index.php?action=profile;u=2271545;sa=summary
