Initially, financial transactions could only be conducted over-the-counter, but recent technological advancements now provides other alternatives. And, the internet and blockchain are the major players in this regard.
Who would have thought it possible that regular individuals would ever be able to freely and directly participate in the financial market?
Formerly, individuals had to rely on a third-party including but not restricted to commercial banks and stockbrokers in other to participate in the business market. With time, it became obvious that such indirect involvement was doing more harm to the earlier mentioned class than good, benefitting the third-parties more. Some of such bottlenecks are exploitation of client's lack of market technical know-how (e.g false declaration of profits), bad deals, wrong price discovery, amongst many others.
Although, the traditional centralized business model is still very much in play and in fact, yet the commonest, blockchain technology shows a lot of promise. And, hopefully in the near future, it would totally revamp the industry. In light of this, a concise review of HiBTC- a user-friendly, cryptocurrency exchange platform is compelling.
What is HiBTC?
HiBTC is an exchange platform based on the community type business model. This way the conduct of users would be more individualistic, free and direct, as the market is decentralised . HiBT is the official currency on the platform.
Interestingly, the platform comes with a lot of features that would be especially beneficial to the community members.
1+1 Currency Listing Mode
This feature would be the first of it's kind, enabling a dual-channel,currency listing mode which is nothing like the traditional one. It comprises a platform selection channel and a HiBIT holder recommendation channel. Hopefully, this innovative piece would shield members from being defrauded by fraudulent listers. Furthermore, it would afford users the opportunity to take initiative, with the freedom of choice.
Transparency
All major conducts will be publicised on the platform on a hourly basis.,This is facilitated by taking snapshots at regular intervals. Such details include mining data, income data, platform transaction data and many others. This would go a long in promoting fairness and ultimately populace confidence.
Risk Control
Financial derivatives such as option contract, future contract, and co. will be introduced on the platform. It's a precautionary measure, just in case a transaction goes south. These risk hedging instruments are rich and very dependable.
Fast Transactions
The team is likewise conscious of the quintessiality of time management, especially in this age. As a result, HiBTC utilizes advanced algorithms to perform transactions in real time, so that individuals can as well return to their respective businesses in no time. It will,be able to handle two million transactions in one second.
Revenue Sharing
Notably, the platform rewards members occasionally with dividends from its revenue, depending on the volume of HiBT they have in the cold wallet.It can be likened to the same thing that happens in the regular business world, talking of the dividends that shareholders receive from the said company's revenue, periodically. Again, members will be rewarded with HiBT whenever they transact on the platform. This is called transaction mining reward .
Safe and Secure
The issue of security is typically one of the most pressing issues on any new exchange platform or more aptly, any new project at all. So it boils to the fact that indeed, ability to provide unbeatable security will undoubtedly always be a winning edge. HiBTC is aware of this and for same reason, has already entered partnership with top-level security companies that will provide the community members with multi-layer firewalls, acting as first line of defence.
Next is the cold wallet/hot wallet system adoption. This would ensure that about 90% of total user asset is locked away in cold wallet. And, the good thing about this is that the more the volume of HiBT locked away, the more the reward for user.
Conclusion
From the foregoing, HiBTC is no doubt a very promising project which will go a long way to positively impact the way users relate with the cryptocurrency sphere. Such transparency, and efficiency, is remarkably advantageous.
HiBTC Token
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HiBTC Timeline
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For more information, kindly check out the following resources:
HiBTC Website
HiBTC Whitepaper
Author: michades97
Bitcointalk username: michades97
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Hi-BTC!..very simple and insightful. Thank you for this revealing piece
I appreciate your candor, kindly check out the website link above for more info
i'm more interested in the 1+1 currency listing mode. Good work here
Thank you. Please check the website link above for more info
@michades97, this is an interesting article
I genuinely appreciate and,would love for you to kindly checkout the resources above
This is no small deal. It's nothing short of revolutionary
You are absolutely right. Do well to check out the website link above for more info
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In an industry clogged by parallelism, it's nice to see HiBTC bringing something different to the table .A really insightful write up @michades97.
The article was pithily expressed.
I now have a proper understanding of HIBTC as it comes with the fact that HIBTC is very sensitive to the safety of the holders as it concerns their digital assets and has continued to maintain a good collaborates with topmost security companies
A very informative article from a great writer @michades97.
HiBTC isn't just an ordinary exchange platform, it is a Saviour to the Digital Currency market generally.