During a bear market, some chose to hold in abeyance, others are simply playing the waiting game without actually bothering much…So basically everyone is in the “on-hold” mode.
Meanwhile, leading global digital asset exchange Huobi was preparing something for us: HADAX 2.0 being upgraded to Huobi Next.
Indeed, on the 19th of September HADAX has been fully integrated into Huobi Global and had a name-change to Huobi Next: “Adhering to the concept of providing innovative digital assets with a development platform and opportunities to showcase projects, HADAX has constantly upgraded the voting mechanism of community voting ever since it was launched. With HADAX 2.0, Huobi has proved to a certain extent the feasibility to select quality projects through community voting. Therefore, Huobi Group has decided to upgrade HADAX to Huobi NEXT and combine it with Huobi Global from a long-term strategic perspective.”
As it continues to grow exponentially, Huobi has brought on some drastic changes to its digital asset exchange HADAX: An upgrade that will definitely improve the user-experience and make it much smoother and convenient by sparing users the trouble of having to switch between the two exchanges and all major projects as well as displaying lesser-known early stage projects.
Moreover, the tokens being listed on the exchange have been chosen in convention with Huobi users and stakeholders in a way users have more choices when deciding how they want to trade and what assets they want to trade.
however, there might be some differences between Huobi Global and Huobi NEXT that users should expect, we’ll try in the list below to highlight the major differences between the two:
*The listing procedure:
The Project that will be potentially listed on Huobi NEXT will first get approved by the Huobi team and its stakeholders or some large professional investors. Once validated, the project will be reviewed by the community that will have the final decision of which project will get listed on Huobi NEXT.
On the other hand, the listing on Huobi Global is a lot more than that: The listing procedure is actually more complex and the final listing decision takes place internally. The community cannot participate in the decision making of which project gets listed. Further, Huobi uses its own proprietary system called the SMARTChain evolution method while reviewing projects for potential listing, as it ensures the elimination of scam-projects and projects of low quality.
* the Choice of projects to be listed:
-Huobi Next is predominantly meant for newer and higher risk projects needing a more stable platform in which users can purchase tokens/coins for their projects as it will host many innovative projects that are still in the early stages and which go more in tone with the requests of the community.
-Huobi Global, on the other hand, will be featuring much more prominent and established projects. Projects which already have good existing community and technical foundations, such criteria will be identified through the stringent tests conducted by the Huobi team.
According to Huobi Website, the voting process will remain unchanged: Voting on Huobi Next will be exactly identical to voting on the regular website as Huobi decides to integrate the voting system and the project center into its main platform.
So basically, from time to time, a new voting round will start and users will be able to vote for their favorite project using Huobi Tokens (HT). The only modification that’s been recently added is that voting using Huobi Tokens isn’t 100% free anymore.
If you are looking to check a more accurate and up-to-date overview of the voting terms and conditions, check the website where everything concerning the voting process is all cleared up.
I personally think that such an upgrade or the Huobi NEXT will definitely add up much to Huobi’s global footprint and its well-established brand that perfectly depicts its excellent management team, and advanced security systems. Huobi just keeps on impressing me, and somehow, comforting me during the bear market.
If you want to be part of either Huobi Global or Huobi NEXT, please follow this link.
Disclosure: This article should not be considered as financial advice as it only reflects my personal opinion and views and is solely intended to be for general information. This is not an invitation or an offer to buy or sell cryptocurrencies, nor is it a recommendation to buy or sell specific types of cryptocurrencies. I have savings invested in cryptocurrency and I happen to be a Huobi Pro user so take whatever I write with a grain of salt.