SAN FRANCISCO, April 16, 2019 /PRNewswire-PRWeb/ --
Cryptocurrency traders come from across a wide range of age groups.
From teenagers to older and seasoned traders are drawn to the
promise of earning big rewards in a short span of time. To enable
traders to practice this concept on a trusted cryptocurrency
exchange platform, the leading global crypto trade exchange,
PayBito has added another major cryptocurrency to its coin list -
Ethereum Classic.
A brief background of Ethereum Classic:
Although Ethereum Classic (ETC) operates on the same protocol as
Ether (ETH) and executes a similar function, it does have its
unique traits. Much like other altcoins, ETC derives its value from
the speculator market. Use of case scenarios and community support
are the other two factors that have thrust it in the limelight. Its
market cap at the moment is $782
M.
What makes ETC eligible to be listed on PayBito?
PayBito follows strict guidelines to choose a utility coin for
listing on the exchange. When compared to those, Ethereum Classic
ticks all the boxes. The guidelines uphold certain core principles
which can be understood as follows:
1) The utility token should have true value addition potential,
should be able to resolve or simplify existing problems, and create
value for network participants.
2) Proof that the technology works - The engineering and product
quality can be gauged by the existence of a working alpha or beta
product on a test net or main net. A verified documented
peer-review and testing by contributors separate from the initial
development team further strengthen this conviction.
3) The coin should have a team of efficient engineers, architects,
and business planners with strong track records behind it.
4) The Consensus mechanism and future revenue generation system -
The coin should have a convincing process to process definition for
implementation of major code updates or voting process for conflict
resolution. It should be backed by a business plan that can draw in
funds beyond that which was raised from an ICO or from traditional
investors.
5) The coin should provide details of its potential scalability,
clear milestones setups, and operating expenses.
6) It should have favorable Market Distribution analysis - This
includes data on Market Capitalization, Asset Velocity,
Circulation, and details on where the asset would be available for
trade.
7) It should have favorable Market Demand - This includes demand
from customers, developers and contributors, and external
stakeholders.
8) The blockchain network of the coin should meet certain set
standards regarding changes in market capitalization, nodes, and
transaction fees.
9) Compliance to regulations is another area that PayBito makes a
priority when listing a coin.
10) HashCash also looks for a comprehensive white paper that would
contain the above information.
A quick overview of PayBito:
Cryptocurrency trade is a head-turner in the financial space
because of its similarity in dynamics to the traditional equities.
PayBito's practical User Interface is easy to navigate and provides
quick access to a number of features on the exchange. It supports
USD deposit and withdrawals and leading cryptocurrencies including
Bitcoin, Bitcoin cash, Litecoin, Ethereum, Ethereum Classic,
Bitcoin SV, HCX, several ERC20 tokens, and their trading pairs. The
24 hr trading volume on PayBito at the time of writing this article
is 6.2 million.
PayBito is a feature-rich global cryptocurrency trading
platform. It claims to have implemented features similar to the
security protocols in leading banks to prevent hacks (3-point
architecture, a multi-signature cold wallet, and an encrypted hot
wallet). There is a thorough underwriting process to pass any token
listed on the platform.
Speaking on the production of cryptocurrency exchange platforms
built similar to PayBito, Raj Chowdhury, MD of HashCash
Consultants, says, "HashCash is probably the only player in the
market that runs a Cryptocurrency exchange at a large scale and
offers the same software to other clients who are interested in
running their own cryptocurrency exchange."
HashCash Consultants - the parent company of PayBito - is a
known name in the financial circle for its expertise in blockchain
based banking solutions. PayBito has been instrumental in providing
an authentic opportunity to enterprises with tokenized services to
trade on a global exchange, alongside other thoroughly vetted
cryptocurrencies.
About HashCash Consultants:
HashCash Consultants started as a Blockchain Consulting Company
in California. Today, HashCash
products enable enterprises to move assets and settle payments
across borders in real-time using HashCash Blockchain network, HC
NET. Financial Institutions use HC NET for Retail Remittances,
Corporate Payments, Trade Finance, and Payment Processing. HashCash
also runs the US-based cryptocurrency exchange, PayBito and the
leading Cryptocurrency payment processor, BillBitcoins.
HashCash offers cryptocurrency exchange and payment processor
white label solutions, comprehensive ICO services and customized
use case design and development. HashCash propels advancement in
the field of blockchain through the Blockchain1o1 program and its
investment arm Satoshi Angels.
SOURCE Hashcash Consultants