What Are Huobi Global and Huobi Token (HT)? Huobi is taking the world by storm, but is the world ready for another exchange?

What Is Huobi Token (HT)?

Huobi is a crypto asset exchange market that has its own ecosystem, using the Huobi Token (HT) to facilitate token and coin exchanges.  The exchange faced a ton of adversity when China banned crypto exchanges and it was hit with the usual cyber attacks plaguing anyone with a large quantity of crypto.

The company, Huobi Global, is an industry leader in the Asia Pacific region, having obtained government approval for a public listing. This helps bridge the gap between crypto and traditional digital assets.

Who Is Huobi Global?

Huobi Global was founded in China in 2013 by Leon Li and is now based in Singapore, with offices in China, Hong Kong, Korea, Japan, and the United States. It’s publicly listed in Hong Kong and still runs in China as a blockchain consulting firm after the country banned Bitcoin exchanges in 2017.

Its investors include Sequoia Capital and SBI Group, which helped the U.S. expansion.

Use Cases of Huobi

Huobi is used mostly as a cryptocurrency exchange, but it’s also exploring other financial services. It’s partnered with the Chinese government (through the Fintech Digital Asset Alliance and Fintech Research Institute of China) and Tsinghua University, among others. These partnerships are meant to facilitate industry growth and research the effects of crypto and blockchain on different industries and sectors.

How to Mine HT

There are actually two tokens used by Huobi – Huobi Token (HT) and Huobi Pool Token (HPT). HT is mined via a Delegated Proof-of-Stake (DPoS) mining algorithm. HPT is also airdropped to HT hodlers based on transactions fees versus the amount of tokens held.

There’s a maximum supply of 500,000,000 HT, and it reached an all-time high value of $6.10 on June 6, 2018, according to CoinMarketCap.

The maximum supply of Huobi Pool Token is 10,000,000,000 HPT, and it reached an all-time high of $0.018703 on July 10, 2019.

Learn More About Huobi

If you want to learn more about Dash, check out this comprehensive intro guide at Wikipedia, which is more reputable than many blockchain/cryptocurrency publications. Or check out this intro guide to Kucoin Shares on Thought for Your Penny.

Versability

Dr. Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer. You can find his work in Cracked, High Times, HuffPost, Lifewire, Forbes, Fast Company, and dozens of other places, although much of it is no longer under his name. Dr. Penny loves annoying fake media.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: