Ankr ANKR to Huobi Token HT Exchange

Crypto Pair Details: ANKR to HT

Ankr ANKR

Ankr strives to build a resource efficient blockchain framework that truly enables Distributed Cloud Computing (DCC) and provides user-friendly infrastucture for business applications. There are indeed existing cloud solutions, but Ankr is the first one to leverage both blockchain and trusted hardware. Technology Overview Ankr provides a computation-resource-efficient blockchain and an integrated data feed system leveraging both cryptographic primitives and trusted hardware Proof of Useful Work The Proof of Useful Work (PoUW) consensus enables a self-sustainable blockchain framework. Instead of wasting electricity and computing power on hashes like Bitcoin does, PoUW uses these resources towards useful work tasks provided by enterprises and consumers. The protocol runs on SGX-enabled CPUs with remote attestation to ensure security and confidentiality. The novel PoUW approach unlocks the massive potential of idle computing power around the world by providing enough incentives: in this scheme, every computation contributor gets compensated, and some will get the extra reward for generating the blocks. In the future, this mining scheme can promote Universal Basic Income (UBI). Plasma Sidechains The Multi-chain Plasma implementation allows different applications to handle application-specific smart contracts on individual side chains, preventing transactions from overloading the PoUW-based main chain. Native Oracle Service Native Oracle Service (NOS) provides authenticated data feed by leveraging both cryptographic primitives and the trusted execution environment (TEE). Through a standardized API to port data from existing websites, NOS enables simple real-world business adoption

Huobi Token HT

Huobi, the third-largest cryptocurrency exchange in the world, recently announced and launched a new currency. The Huobi Token (HT) rewards exchange users for their loyalty with lowered transaction fees while also carrying its own value in tradable pairs against popular currencies. The hope was to bring greater value to Huobi’s millions of users, mostly located in Asian countries. The launch of the Huobi Token follows in the footsteps of other loyalty-building tokens that other exchanges have launched. The first and most successful of these tokens has been Binance Coin (BNB). The creation of BNB secured Binance’s place as the world’s leading exchange. It offered discounted trading fees in exchange for customer loyalty, primarily functioning as a loyalty rewards system. Huobi officially announced its intentions to launch a new token on January 22, 2018. Over the course of 15 days, Huobi would distribute 300 million HT (60% of the total supply) to its pro users who purchased a discounted service package. Each morning, a new batch of HT would become available on a first come, first served basis. Huobi declared this token distribution scheme, “not an ICO,” due to the nature of the offering. Users are buying a specific service package, part of which includes HT that give a discount toward trading fees. The exchange launched the Huobi Token as part of an overall strategy to recover its user base after tightening regulations in China severely restricted cryptocurrency trading. In an interview with CoinDesk, Leon Li, Huobi’s founder, revealed that Chinese rule changes had decimated the trading volume on Huobi by 95% between September 15 and November 1, 2017. The HT token distribution began on January 24 and wrapped up on February 7, 2018. Each day of the distribution, millions of tokens sold out in mere minutes after going on sale. At that point, 300 million HT had been distributed to Huobi Pro members who bought packages. That’s 60% of the total supply currently in public circulation. Another 200 million HT, 40% of the total supply, was set aside. 20% goes toward user rewards and platform operation. The other 20% is vested for four years and constitutes the team reward. Huobi isn’t the first exchange to issue its own token. Binance (BNB), Bibox (BIX), KuCoin (KCS) and Coss (COSS) have all issued their own tokens as well.

SOURCE: COINGECKO

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