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Summary of Huobi BTC (HBTC)
Key Points
- Huobi BTC (HBTC) is an ERC-20 token deployed on the Ethereum blockchain, pegged to BTC on a 1:1 ratio.
- Launched by Huobi Global in February 2020 to bring BTC liquidity to Ethereum-based decentralized apps (dApps).
- Huobi Global is a cryptocurrency exchange founded in 2013 by Leon Li, with a $100 million venture fund.
Founders and History
- Founded by Leon Li, who graduated from Tsinghua University in 2013 and worked at Oracle Corporation.
- Huobi Global is based in Seychelles
About Huobi BTC: A Leading Cryptocurrency Exchange
Introducing Huobi BTC (HBTC): A Revolutionary Cryptocurrency
Huobi BTC (HBTC), launched by Huobi Global in February 2020, aimed to bridge the liquidity gap between Bitcoin and Ethereum-based decentralized applications (dApps). As an ERC-20 token deployed on the Ethereum blockchain, HBTC is pegged to BTC at a 1:1 ratio, thereby mirroring the value of BTC. By doing so, Huobi BTC unlocks the utility of the Ethereum DeFi ecosystem, while maintaining a value equivalent to its Bitcoin counterpart.
Huobi Global, a pioneering cryptocurrency exchange established in China in 2013 and currently headquartered in Seychelles, boasts an extensive array of cryptocurrencies and trading pairs for its users. The Huobi Token (HT) serves as the native cryptocurrency of the esteemed Huobi exchange. Notably, Huobi has also ventured into launching a $100 million venture fund, further solidifying its presence in the digital asset landscape.
The Visionaries Behind Huobi BTC: Unveiling the Founders
Founded in 2013 by visionary entrepreneur Leon Li, who presently helms the organization as its CEO, Huobi Global has established itself as a stalwart in the cryptocurrency landscape.
Li graduated from the prestigious Tsinghua University in 2013. Before joining Huobi Global, Li honed his skills as a computer engineer at Oracle Corporation, one of the largest and most esteemed US-based software companies. With Huobi Global based in the Republic of Seychelles, Huobi Asia is headquartered in Singapore, with plans to relocate to Hong Kong in the future.
Unveiling the Uniqueness of Huobi BTC (HBTC)
HBTC serves as a pivotal conduit between the Bitcoin and Ethereum ecosystems, seamlessly facilitating access to a diverse array of decentralized finance (DeFi) protocols, including Uniswap, Curve, and Balancer.
HBTC boasts a significantly faster transaction speed and substantially lower handling fees. Notably, service fees are virtually negligible, courtesy of its two-way exchange support. Moreover, the platform ensures utmost transparency, as all transaction details are publicly accessible, and users can conveniently verify the number of issued tokens in reserve pools.
HBTC employs a multi-channel system, allowing users to select a lucrative channel to mint and burn Huobi BTC. Notably, HBTC tokens are fully redeemable, backed by a 100% reserve, ensuring their inherent value.
The Circulating Supply of Huobi BTC (HBTC) Coins: A Closer Look
Huobi BTC (HBTC) is an Ethereum-based token, adhering to the ERC-20 standard.
Huobi BTC is fully collateralized by BTC at a 1:1 parity, meaning that the circulating supply of tokens is directly correlated with the amount of Bitcoin reserves and the number of HBTC tokens minted. As of this writing, the circulating supply of HBTC stands at 8,969.5 tokens.
The Security Architecture of Huobi BTC: A Robust Network
Huobi BTC (HBTC) is an ERC-20 token on Ethereum, secured by a Proof-of-Stake (PoS) consensus mechanism, a secure and energy-efficient algorithm that leverages randomly selected validators to validate transactions and append new blocks to the blockchain.
Where to Acquire Huobi BTC (HBTC): A Comprehensive Guide
HBTC can be acquired on prominent decentralized exchanges (DEXs), including MDEX and MakiSwap, as well as reputable centralized exchanges (CEXs) such as FMFW.io.
Stay ahead of the curve with the CMC mobile app, where you can monitor HBTC prices in real-time and make informed investment decisions on the go.
Associated Resources:
Delve into the world of renBTC (RENBTC) and Wrapped Bitcoin (WBTC), two prominent Bitcoin-pegged tokens seamlessly integrated into the Ethereum network.
Huobi BTC: A Comprehensive Overview
Delve into the intricacies of Huobi Token (HT), the proprietary cryptocurrency powering Huobi Global.