TRADING PLATFORM
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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 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.
FEATURES OF HiBTC
To help you better understand why HiBTC is unique and Awesome to me, I would be telling you about it's features from my own observations. About a week ago, HiBTC launched the trading of USE/ETH Trading Pair in the Platform and to me, this was a blessing because I had that token in my possession and this was what led me to HiBTC.
Almost Immediately after Registration and my first deposit, the first thing I noticed was how important the HiBTC team takes security and information, I was informed via mail when my deposit reflected in my account, HiBTC kept me in the loop about any activity in my account while I was using the exchange and this struck my as being very innovative.
• Security: Security of funds in a Cryptocurrency exchange is very very important and the team behind HiBTC knows this and takes the security of funds of it's users very seriously and that is why they utilize multi-layer firewalls, multi-signature, and cold hot money bag isolation programs to maximize the security of user assets and HiBTC also collaborates with top security Outfits.
• 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.
• 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.
To in a bid to make everything more transparent, it is also note worthy to mention that all transaction data, income data, mining data, voting data would be regularly published and made public in such a way that it would be easily be Verified.
• Fast Transaction Framework: One reason many users run away from some exchanges is their slow transaction framework, some exchanges are not built to handle much transactions per second and when the transactions exceed such a limited number, problems starts arising, the brilliant minds behind HiBTC knows this and they have created a conducive framework for professional and amateur traders alike where they can trade and never have to worry about the speed of their transactions because HiBTC is built to handle 2,000,000 TPS (Transactions Per Second).
USEFUL LINKS
Exchange Link: https://www.hibtc.com
Whitepaper: https://www.hibtc.com/om/about/en-us/whitepaper.pdf
Twitter: https://twitter.com/HiBTC_Exchange
Telegram: https://t.me/www_HiBTC_com1
Author Information
Bitcointalk Username: arun9900
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1077525