Hedera is a decentralized public network that allows developers to build secure and fair applications with near real-time consensus. It is categorized as a protocol, smart contract platform, and layer 1 (L1) solution. Hedera is backed by a council of global innovators, including major companies like Boeing, Google, IBM, and LG Electronics. The platform provides the Hedera Consensus Service (HCS), which acts as a trust layer for applications and permissioned networks, allowing for the creation of an immutable and verifiable log of messages.
Hedera (HBAR) currently ranks 31st in terms of market capitalization, indicating its popularity and adoption in the market. Over the past 30 days, it has experienced a price increase of 31 percent. The coin is listed on multiple exchanges, including Binance, DigiFinex, Bitrue, and Coinbase Exchange, among others. Hedera's official website is https://www.hedera.com/.
Use Cases of Hedera (HBAR)
Hedera's HCS can be utilized in various applications, such as tracking assets across supply chains, creating auditable logs of events in advertising platforms, or acting as a decentralized ordering service. The platform offers the benefits of trust, security, and scalability for developers looking to build applications that require consensus and immutability.
Huobi is a leading cryptocurrency exchange and has introduced its own token called Huobi Token (HT). HT is categorized as an exchange-based token, centralized exchange (CEX) token, and is associated with the Harmony and Ethereum ecosystems. Huobi Token serves as a loyalty rewards system for Huobi exchange users and offers discounted trading fees as well as its own tradable pairs against popular currencies.
Huobi (HT) currently ranks 96th in terms of market capitalization. In the past 30 days, it has experienced a price decrease of 11.73 percent. Huobi Token is listed on various exchanges, including Binance, DigiFinex, Bitrue, and Coinbase Exchange. The official website of Huobi is https://www.huobi.com/.
Comparison with Binance Coin (BNB)
Huobi Token follows a similar model to Binance Coin (BNB), which has proven to be successful in building customer loyalty and establishing Binance as one of the leading exchanges. Huobi Token was distributed to pro users who purchased a discounted service package. It should be noted that the distribution of Huobi Token was not considered an ICO but rather a purchase of a service package with the token included, offering discounts on trading fees.
Huobi Token distribution started in January 2018 and concluded in February 2018. The token distribution was met with high demand, with millions of tokens selling out within minutes each day. Huobi Token has a total supply of 500 million tokens, with 60 percent distributed to Huobi Pro members and the remaining set aside for user rewards, platform operation, and team rewards.
Which One is Better for Investment?
Investment decisions should be based on thorough research and consideration. Both Hedera (HBAR) and Huobi (HT) offer unique value propositions in the blockchain and cryptocurrency space.
Hedera (HBAR) provides a decentralized network for building secure applications with near real-time consensus. Its Hedera Consensus Service (HCS) offers trust and verifiability, making it suitable for various use cases. The platform has gained significant popularity and ranks well in terms of market capitalization.
Huobi (HT), on the other hand, serves as a loyalty rewards system for users of Huobi exchange, providing discounted trading fees and its own value in tradable pairs. It follows a similar model to Binance Coin (BNB), which has proven successful in the market.
Ultimately, the choice between Hedera and Huobi depends on individual investment goals and preferences. It is recommended to thoroughly analyze the technology, market position, and potential for growth and adoption of both projects before making any investment decisions.