Huobi Announces the Launch of Advanced, Super Fast IEO Platform

Photo: Huobi /

Though the concept of Initial Exchange Offering is still considered to be a rather new one, Singapore-based cryptocurrency exchange Huobi Global is already not a new player in this sphere. And now it is going to launch its second IEO platform – Prime Lite.

Huobi Prime

As Coinspeaker has reported earlier, a month ago, on March 26, the exchange launched its selective new coin launch platform dubbed Huobi Prime.

The platform was built to provide its users with wide cost-efficient trading opportunities. The platform promised to conduct attentive project review and filtration before listing, introduce zero trading fees and apply a unique price limit mechanism.

Since its launch, the platform has even hosted several IEOs. The first token listed on Prime was was TOP, the native token of TOP Network that is a public blockchain platform built for real-world business of any volume and size.

Nevertheless, the activity of the platform is being criticized due to the fact that rounds were closed practically instantly and many participants didn’t manage to get tokens. As a result, the exchange was accused of scamming.

Ultra-Fast Prime Lite

But it doesn’t mean that Huobi is going to give up. Now it’s actively working on the launch of an advanced IEO platform that will be called Prime Lite.

The main idea of launching a new platform is to improve the listing service and satisfy the practical demands of different project teams. In other words, Prime Lite can be viewed as an ultra-fast version of the Huobi Prime.

The launch of the platform is scheduled for May 9.

“Get ready to get even more primed! BIG NEWS! Huobi Global will launch a streamlined version of Huobi Prime soon. We call it Prime Lite! ThunderCore will be our first project,” Huobi told its followers via a Twitter post.

Prime Lite will have rather strict listing requirements, nevertheless, they will be similar to those that have been applied by Huobi Prime. Projects that are seeking listing through Prime Lite need to meet all the thresholds for Smartchain v2.0 evaluation model.

However, it doesn’t mean that there won’t be any differences between these two platforms. If we compare these both platforms we will see the following differences.

Prime Lite will have a shorter listing cycle and more flexible listing schedule. Users will have the possibility to enjoy more flexible trading allocations.

But maybe the most important peculiarity about the new platform is its plans to burn all exchanged Huobi tokens to ensure the development of HT.

As the company has already announced the first project to be on the Prime Lite platform will be ThunderCore (TT) that is working on the development of high-capacity blockchain. Total trading allocation reserved for the project is said to be roughly 500,000 USDT.

According to the exchange, further details about the project as well as trading rules will be revealed later.

Published at Thu, 25 Apr 2019 13:08:27 +0000

April 25, 2017

Charlie Shrem: ‘It’s Not About The Technology Anymore, It’s About Power’

bitcoin entrepreneur Charlie Shrem shared his views on the scaling debate, stating that “it’s not about technology anymore, it’s about power.”

Shrem: ‘It’s About Power’

Charlie Shrem, bitcoin entrepreneur and co-founder of Intellysis, was present in today’s episode of the Double Down show, dubbed “Does Block Size Matter?” with the usual hosts Max Keiser and Stacy Herbert.

During the show, Shrem expressed his thoughts regarding the current state of the scaling debate or as Herbert called it, “the Great Blocksize War of 2017.”

Shrem stated:

In reality, it’s not a technical argument anymore. Everyone on both sides of the table say that SegWit is the best technology that we have.

According to Shrem, the scaling debate is no longer about the most viable technology or solution that can be used to scale bitcoin. Instead, the scaling debate has become a power struggle between two development teams, Bitcoin Unlimited and Bitcoin Core.

“The other side of the debate, which is bitcoin Unlimited, they agree that SegWit is a great technology,” he continued. “But to them it’s not about technology anymore, it’s about power.”

Shrem went on to say:

They want to remove [bitcoin Core’s] ability to work on bitcoin and instead have a closed-membership small group of four to five developers, who they think are the best for the job, run bitcoin going forward.

A Test for bitcoin

However, there is a silver lining in this development, which Shrem considers it as an “extremely bullish situation for bitcoin.” The current block size “drama” is showcasing bitcoin’s ability to resist a malicious attack on the network.

He noted:

Here you have a group of bad actors who are trying to overtake the bitcoin network and essentially fork all of bitcoin and force all bitcoin users to be able to use their developers and their codebase and their everything and it’s not a group of miners that’s preventing this.

Shrem sees the current hash power signaling as a “glorified poll” when it comes to hard fork given that nodes are the ones that validate blocks and they can discard the ones from the hard-forked chain at will, meaning that miners don’t have nearly as much power as they think they do.

This can be observed the UASF proposal, which would bypass the miners completely and leave it up to the nodes to force SegWit into activation.

However, it may not come down to a UASF, as mining pools like F2Pool are beginning to move to SegWit driven by demand from individual users that contribute hashrate to the pool.

Champagne Problem

Not all is gloomy for bitcoin, however. Amidst all the tension and drama, one must also look at the bright side, which is the reason we’re having this heated debate at all: Bitcoin is growing at an exponential rate.

This is, as Shrem puts it, a “champagne problem,” one that gives us as much to celebrate as it gives us to fight about.

“It’s a good problem to have. bitcoin has grown really quickly. We never expected this to happen so quickly, to be honest. We’re getting towards what they call a ‘champagne problem,’ how do you scale?” he said.

This means that not only is bitcoin working as intended, but there is also an urgent need for such a currency in the world. Now, it’s only a matter of making sure that bitcoin can become that currency and still maintain its decentralized and immutable characteristics.

Shrem concluded:

There has always been research and conversations on scaling over the past three years but, to be honest, we didn’t think we’d see this exponential growth in bitcoin and now it’s time to have that conversation.

Do you agree? Is the scaling debate actually about power and control? Share below!

Images courtesy of Shutterstock, alchetron.com, coin.dance

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