HitBTC Lists Stellar Lumens and Opens 3 Markets with IOTA

HitBTC cryptocurrency exchange listed Stellar Lumens and opened 3 new markets with IOTA token – against BTC, ETH and USDT
23 March 2018   434

HitBTC, one of the top cryptocurrency exchanges, announced Yesterday listing of Lumens (XLM), the asset of Stellar borderless payment network. The brainchild of Ripple founder Jed McCaleb, Stellar is an open-source distributed payments infrastructure, connecting financial institutions to reduce the cost and time required for cross-border transfers.

Like most decentralized payment technologies it relies on a network of servers to power a distributed ledger, but unlike Bitcoin, for example, it only uses a portion of the network to achieve consensus. This makes for much faster transactions, as well as lower transfer costs.

Steallar LumensStellar Lumens

Stellar greatly facilitates B2C and C2C payments, a necessary and long-awaited achievement in today’s world without borders. We are excited to provide HitBTC clients with the opportunity to trade Lumens on the exchange.

 

Paul Clarkson

CPO, HitBTC

Currently 9th by market cap, XLM has been climbing through the rankings in recent months and held on to its strong standing during the recent market correction. Tipped for big things in 2018, it is running at 511,209 BTC ($4,453,006,958) at the moment with the daily trading volume of about 6,900 BTC.

3 new markets with IOTA token – against BTC, ETH and USDT

The IOTA ecosystem has been specifically designed to give a backbone to the Internet of Things. As the ecosystem connects together billions of cyber-physical systems, providing a secure environment for them to store data and communicate, IOTA will facilitate swift and safe commission-free micropayments between devices.

IOTAIOTA

One of the defining features of IOTA is the Tangle, a new distributed ledger architecture based on a DAG (Directed Acyclic Graph). This entirely new data structure is a radical departure from blockchain technology, in that it has no blocks, no chain, and no miners.

It is still a distributed database relying on peer to peer consensus and validation, but instead of blocks, each transaction references two past transactions, increasing the network’s processing capability while protecting system security. Not only does Tangle process transactions quickly, but also requires no miners or commissions, making it the first token with zero transaction fees.

The Tangle also holds promise for applications beyond the IoT, in other industries where secure data transmission is required, such as eGovernance and eVoting. IOTA is already backed by VW and Bosch, two companies at the forefront of IoT innovation.

All three markets are already active on HitBTC.

About HitBTC

HitBTC is a global trading platform with multi-currency support, operating since 2013.
The exchange has markets for trading various digital assets, including Bitcoin, Ethereum, Litecoin, Monero, USDT, and multiple tokens. HitBTC features a powerful kit of trading instruments as well as stable uptime.

HitBTCHitBTC

The HitBTC platform was developed as a collaboration of software developers, finance professionals and experienced traders. Its core matching engine is among the most advanced technological products in its class and implements innovative features such as real-time clearing, advanced order matching algorithms and has been acclaimed for its fault-tolerance, uptime and high availability.

Karma Group Accused HitBTC of Fraud

Accoding to the Karma's team "exchange received 527.01 ETH from Karma for the listing services, but has not fulfilled it’s obligations"
30 May 2018   352

Karma Group filed a lawsuit against the HitBTC exchange in the Hong Kong court. This is reported in the company's blog.

According to the representatives of the project, HitBTC received 527.01 ETH for the listing of Karma (KRM) tokens, but did not fulfill its obligations. HitBTC did not provide any updates on the timing of the listing and did not return the funds.

The Karma Group service package included the implementation of blockchain, the listing of two trading pairs (BTC and ETH), retweets, and the addition of an additional trading pair with a tokenized US dollar (USDT).

HitBTC Invoice
HitBTC Invoice

As Karma reports, representatives of HitBTC pledged to include Karma tokens in the listing until April 20. The exchange received all the necessary information about the blockchain based on the bitShares technology. In addition, the Karma team on March 29 re-notified HitBTC that KRM is not "familiar" to many ERC-20 exchanges.

As representatives of Karma say, the team regularly specified the status of the project during April, and representatives of HitBTC assured that it will be completed by the 20th of the same month. Karma constantly offered all kinds of technical assistance, but HitBTC rejected these proposals.

HitBTC could not complete the work by the designated deadline, did not contact for five days, and then reported that Karma had not notified the developers that KRM was not a standard ERC-20 token. According to representatives of Karma Group, this is not true.

Since then, HitBTC has not indicated a new deadline, but only vague estimates - "from 5 to 12" or "about 10 days". The Karma team called these actions HitBTC fraudulent and is preparing to file a lawsuit against this crypto exchange.

The Karma team stands for transparency and a high level of business ethics. The fathers of the crypto economy were standing for freedom, but 100% freedom always comes with 100% responsibility. We're sure that the basic principles violation, especially by the big market players, is unacceptable. That's why we decided to create this international law case.
 

George Goognin

Karma Founder

In December last year, HitBTC users experienced problems with the withdrawal of assets due to the impossibility of conducting transactions. The exchange explained the delays in the influx of new users.