HiBTC As A Solution For Fiat
Digital currency was not
only an applica!on of blockchain technology, but also experience the rapid
growth im the last decade and had significant influence on the global economy
and finance. From the perspec!ve of development course of digital currencies,
it is the digital asset exchanges that laid the founda!on for value discovery and
circula!on of digital assets and widely link the digital currencies with human.
In 2009, bitcoin, the
world’s first digital currency, came into being. In May 2010, a man called
Laszlo Hanyecz from Florida bought two pizzas for 10,000 bitcoins (equivalent
to USD 41, with one bitcoin equivalent to about USD 0.0041), which was the
first deal made using digital currency in the world. In July 2010, Jed McCaleb,
who created eDonkey, founded MT.gox, the first large digital currency exchange,
a"er which, other digital currency exchanges emerged one a"er another
in the world, making the digital currency transac!ons increasingly ac!ve. As of
early 2018, there have been more than 500 digital currency exchanges and more
than 1,500 types of digital currencies, totaling a market value of near USD 400
billion.
However, behind the
miraculous development of the digital currency market, there are many problems,
such as counterfei!ng of transac!on data, security vulnerabili!es, high
exchange lis!ng price, backroom deals and low efficiency, which not only cause
losses to the investors, but also hinder the healthy development of the digital
currency market. Therefore, we want to disrupted the tradi!onal exchange model
by crea!ng a new type of digital asset exchange that is safe, convenient,
transparent and orderly – HiBTC, and we invite all the investors to share all
the rights and revenues of HiBTC.
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 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.
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.
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