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On Ep 24 of Huobi Talk, Wu Xing, Senior Director of Huobi Pro shares more on the use cases of Huobi Token (HT). To learn more about Huobi Token (HT), check out the link below: ht ...
Organization: Huobi Universal Inc.
Creation date: 2017-03-19
Expiration date: 2021-03-19
No whitepaper exists for Huobi Token
The world's first broker-less financial trading platform
Kucoin shares are used for collecting fees from participants of the Kucoin exchange, holding it, gives a holder dividend-like rewards.
Binance Coin is the digital token of the Binance exchange. It is an exchanging token only for cryptographic forms of money. The name "Binance" is a blend of binary and finance.
The exact founding date of Huobi Token is unfortunately not that clear.
never released their source code, which makes it an intransparent and hidden project with no guarantee that their product works or is being developed.
Organization wise, Huobi Tokens Development is Centralized and is being developed under the lead of Leon LI.
The consensus on which the Huobi Token network is run is called Not mineable, while
the underlying algorithm is called None.
In the current state of Huobi Token currently is Working product
Since its establishment in 2013, Huobi Group has been financed by ZhenFund and Sequoia Capital. Its accumulative turnover has exceeded 1.2 trillion USD and once became the world's largest digital asset exchange with a global share of 50%. Currently, Huobi Group has invested in more than sixty upstream and downstream enterprises.
|view_list r/HuobiGlobal Subreddit|
|person 9,522 Subscribers|
|directions_run 1,409 Active Users|
|create 1 Daily Posts|
|speaker_notes Daily Comments|
This is the ONLY Huobi official group.
Official Announcement Channel:
|view_list Huobi English Channel|
|person 54,761 Members|
|directions_run 3,559 Online|
Official Twitter account for Huobi Token
|view_list @HuobiGlobal Channel|
|person 164,435 Followers|
There are no events for Huobi Token in the next 3 Months
The Google Trends chart displays the search interest on google in Huobi Token relative to its peak over the last year. A rising chart shows growing interest int he project.
Huobi Token is not open source and can therefore not be analyzed. This will automatically give Huobi Token a rating of 1 as a penalty for not being open-source.
Convert between HT and USD with the live Huobi Token prices, aggregated from all big exchanges that trade Huobi Token.
Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.
Founder & ceo
Ceo of shenzhen branch at huobi global
Ted Que (阙小耕)
Founder of huobi labs
Huobi korea chief financial officer
The world of cryptocurrencies is expanding at an undying rate. Amidst the ever-increasing popularity and growth of the crypto-universe, many new alternatives are storming the market, and they are making waves. Similarly, the popular cryptocurrency exchanges have started to roll out their own crypto-coins in order to attract and maintain their user base and reward their old users at the same time. One of such coins is Huobi Token, which was launched by Huobi, the third-largest cryptocurrency exchange in the world.
Huobi token is a proprietary cryptocurrency that was issued by Huobi exchange in January 2018. This coin was introduced with the sole aim of maintaining the user network of Huobi exchange by offering them some incentives and allowing them to gain rewards by being active on their exchange. Huobi token is based on the Ethereum Blockchain, and within itself does not offer many innovative revolutionary developments, but as a means to reward loyalty of the exchange users. Huobi Token can be used internally on the Huobi environment and enables users to carry out transactions with lowered fees (The Analyst Team, 2018).
Huobi Token is an Ethereum based ERC-20 token. The actual product is very easy to understand. In essence, it is simply a token that can be used to carry out discounted transactions on the Huobi ecosystem. There are other use cases for this cryptocurrency. It provides early access to products that will trade on Huobi exchange and confers survey and voting rights to the Huobi Token owners.
Huobi exchange was founded by Leon Li in 2013 as a cryptocurrency exchange. After the ban imposed on cryptocurrencies in China, the exchange expanded its subsidiaries in Singapore, South Korea, and Japan. In 2018, Huobi Group, the Mother company of the third-largest exchange in the world, launched its own loyalty-building token known as Huobi Token (Garner, 2018).
Huobi Token is a very recent entrant of the crypto-world as it was introduced into the market in January 2018. Since then, the coin has garnered positive developments and not much has happened in its short life span. Huobi token was initially launched as a loyalty-building token for the Huobi exchange. Since China’s ban on cryptocurrency in 2017, the markets experienced very low user activity and the future of cryptocurrency was being questioned. In order to combat this issue, Huobi launched the token to gain user attention and give new life to the crypto-exchange. The token rewards its users with lowered transaction fees and also serves as an investment tool by being tradable with other cryptocurrencies as well (Garner, 2018).
Huobi Token was distributed among Huobi Pro members in its initial distribution phase. 60% of the total Huobi Token supply was offered in the 15-day long runs that spanned from January 24 to February 7, 2018. 20% of the supply was reserved for user rewards and platform operations while 20% is retained for the team working on the project. The results of launching a token of its own were very welcoming for the Huobi Group. Leon Li, the CEO of the company, released a public statement recently, citing the figures of company’s performance which showed that the user engagement had really boosted after Huobi Token’s launch. The trends also indicated the revival of the company’s diminishing popularity and better acknowledgements of its product line (Kuhn, 2019).
Starting from April 2018, the company has organized eight separate token burning events. What the company does is that it buys back some of the circulating tokens and destroys them. This helps in stabilizing the coin and also maximizes profit for the investors. The investors also see a reason to hold the currency to maximize their returns. Around 21,356,800Huobi Tokens (HT) of the circulating 310,318,300HT have been destroyed by the exchange. Huobi Group has been involved in different projects that might support the use of Huobi Token in the future. The year 2020 will decide what other products Huobi Group reveals (Walters, 2018).
Huobi Token’s code is solely built by the Huobi Group and is not open-source, which means we can’t see it. The backbone of the network is Ethereum Blockchain, and Huobi Token is also compatible with ERC-20 exchanges and wallets. The company has also developed Huobi Chain that will allow users a reliable infrastructure for self-finance. Huobi Token might also get updated and shifted to the new network.
|Transaction cost||Transaction costs are very minimal. Also, on the plus side, the users get extra discounts for carrying out transactions using the Huobi Token.|
|Energy consumption||There is no official data that reveals the energy consumption of the Huobi Token network. But since the technology is based on the Ethereum network, there is no mining process involved, which makes it energy-friendly.|
|Decentralization||Currently, Huobi Token matches the decentralisation level of Ethereum. Huobi Group is adamant to roll out its Huobi Finance Chain that will maintain the decentralization quality of its token.|
|Product availability||Huobi Token was launched in 2018 and is a fully working exchange-token of Huobi Group.|
|Security||Relatively low. The coin is relatively new/unproven.|
|Adoption||The acceptance of the coin has been limited to the Huobi exchange ecosystem.|
|Transactions per second||Huobi Token can handle much fewer transactions per second compared to other cryptocurrencies.|
|Transaction speed||The transaction speed is much lower compared to other cryptocurrencies.|
|Exchange availability||Huobi Token is a loyalty-building coin which means it is prevalently available on Huobi Global Exchange only. Some lesser-known exchanges like DragonEx, Bit-Z, and Gate.io also offer Huobi token.|
|Privacy||Transactions with this coin are pseudonymous.|
Huobi is the world third-largest crypto-exchange and since China has begun to treat cryptocurrencies with less hostility; there is the possibility that Huobi could see massive growth in its user base. This will result in much higher usage of the Huobi Token on the Huobi exchange.
Huobi Group has initiated a number of projects, and the most important of them all is perhaps the introduction of a Blockchain network of its own. Huobi Group is persistent about launching Huobi Chain that will allow many more products to walk out from under the umbrella of Huobi Group.
Strictly speaking, the potential of Huobi Token depends greatly on the performance and reputation of the parent company Huobi Group. The usage of the token is limited to the exchange’s ecosystem and its growth is directly depended upon the popularity of the company’s and its partner’s products. However, among the loyalty-building coins, it remains one of the better options that provide users with multiple benefits.
Since Huobi Token is primarily a loyalty-building coin, it can be considered a replacement for other loyalty-building tokens. Exchange coins like BNB, which was launched by Binance, and Kucoin a proprietary coin of lesser-known exchange Kucoin can be considered substitutes of Huobi Token.
Huobi Token has a competitive advantage in the market, all thanks to its parent exchange, Huobi, which is the third-largest exchange in the world. Huobi Group has a number of partners some of which utilize Huobi Token and allow users to perform transactions using the same cryptocurrency. Recently a new partnership with FomoHunt, a cryptocurrency based marketplace where users can buy anything from art, tickets, grocery, clothes, etc. was announced (Libertas, 2019).
The cryptocurrency’s community mainly comprises of the regular users of the Huobi exchange. They are representing the digital asset on many different forums to regularly update the general public about the latest developments and news regarding the cryptocurrency. Also, they maintain user engagement by publicising the benefits and positive forecasts regarding the coin.
The development team features many experts of Blockchain technology hailing from different countries like China, Singapore, South Korea, and Japan. The team basically involves the p working for the parent company Huobi Group.
|# 1||Huobi||HT/USDT||$ 4.215472||$ 7,173,549||clear|
|# 2||Bkex||HT/USDT||$ 4.198881||$ 3,101,434||clear|
|# 3||Huobi||HT/CRO||$ 4.208232||$ 3,005,341||clear|
|# 4||Bkex||HT/ETH||$ 4.172433||$ 924,452||clear|
|# 5||Huobi||HT/BTC||$ 4.208721||$ 772,011||clear|
|# 6||Huobi||HT/ETH||$ 4.213218||$ 545,156||clear|
|# 7||Huobi||HT/HPT||$ 4.207096||$ 438,822||clear|
|# 8||BitMax||HT/USDT||$ 4.215270||$ 391,077||clear|
|# 9||Huobi||HT/LTC||$ 4.209272||$ 277,861||clear|
|# 10||BitMax||HT/BTC||$ 4.208165||$ 185,720||clear|
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