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What is the Currency Standard of Huobi?

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What is the currency standard of Huobi? Huobi is one of the earliest companies

What is the Currency Standard of Huobi?

What is the currency standard of Huobi? Huobi is one of the earliest companies in China to research blockchain technology. In December 2017, Chinese internet giant Tencent announced the issuance of virtual assets “HT”. According to relevant data, at that time, the price of the world’s largest cryptocurrency BTC was around 1 US dollar (equivalent to 91.5 million RMB), and its market value once exceeded 200 million US dollars. However, since October last year, the price of Bitcoin has fallen by 80%. This has led many people to classify BTC as speculative investment, which is not a good phenomenon. In fact, “Ethereum” and “Litecoin” also have profound application prospects.

Li Lin, the founder of Huobi Group, once said, “I believe that blockchain technology can change our financial system, business models, economic systems, and human civilization.” He explained that although many projects are developed based on blockchain, it is not done through mining or other methods. “What we need is consensus mechanisms, incentive systems, value scales, and so on,” he said. “So if we want to use blockchain technology, we should start with user demand and create products or solutions that meet market needs. If we don’t use these methods, the entire ecosystem will collapse or even disappear. So-called exchanges are a kind of trading platform. The rules of this trading platform are actually very simple—exchanges must operate according to their own business logic, and only when they can do this can they truly achieve their goals.”

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