The online round table discussion event titled “Discussion on the Revolution of GPU, FPGA and ASIC Mining From the Perspective of the Dominating Roles of Mining Tokens Such as HNS” was held on March 3rd, 2020 (GMT+8), which was hosted by www.jinse.com, Block Ark and Aladdin Pow Labs. The event has invited the CPO of Gate.io, the CEO of BTC.com, the COO of F2Pool, the CSO of Hotbit Global and the CEO of Block Ark. Below are some of the highlights of the discussion’s transcript.
Question One: Why HNS has obtained the gradual listing support from major mining pools and various exchanges at its early stage? What makes HNS to achieve an excellent market performance?
COO of F2Pool: Judging from various key indexes (For example: 24-hourly output of PoW, Volume of Circulation, trading volume, algorithm methods, the remaining volume available for mining etc.), Handshake itself is a very outstanding project. Handshake was founded by various top developers of blockchain industry, such as the founder of Bitcoin’s Lightning Network Joseph Poon, and has received the support from various famous organization investors such as Andreessen Horowitz, Sequoia and SV Angel Investment etc. Currently, Handshake adopts Blake2B + SHA3 algorithm method, which supports GPU and meanwhile is also friendly to FPGA and AISC. Judging from mining incomes, HNS is among the top projects on both NVIDIA and FPGA markets. Hence, after starting the project launches its mining process at its early stage, by conducting project assessment and evaluation, we have immediately listed the project on our platform, which aimed at supporting our miners to gain early mining bonus.
CSO of Hotbit Global: Hello everyone! I’m the CSO of Hotbit Global. As an internationalized exchange, Hotbit has always been focusing on global market. By covering a comparatively high proportion of market share in Russia and southeastern Asian countries, Hotbit has always been listed as one of the top 10 exchanges worldwide on Coinmarketcap. Recently, Hotbit is focusing on the development of Chinese market as well, and hopes to provide all our Chinese users with better user experience and more choices of popular types of tokens with qualities. For example, regarding the project HNS in today’s topic, Hotbit discovered the project within a short period of time, and the project was listed on Hotbit after internal assessment process.
HNS project itself is about a decentralized DNS that targets at the infrastructure of blockchain. According to Hotbit’s project assessment and evaluation system, the project is categorized as the top group of projects with the greatest potentials in their future development. The success of the project in its early stage is due to the fact that the project was founded by top technical team, and that the project is endorsed by top investment organizations.
Despite the fact that the current market trend still remains lukewarm, with its excellent foundation and quality, HNS can still attract a lot of investors and miners. Considering the inclusiveness of Hotbit’s listing standard, Hotbit will surely support those projects with great potentials. Just as the world’s debut listing of excellent projects such as Beam, Grin, CKB and KDA, Hotbit listed HNS as world’s debut listing as well, and Hotbit is delighted to see that the listing of HNS has met the market’s demands as well.
Question Two: Apart from the trading of mining tokens, is the exchange going to focus more on other businesses such as mining pools and cloud computing power? What’s the difference between the assessment and evaluation of mining tokens and non-mining tokens?
CSO of Hotbit Global: First, regarding cloud computing power, Hotbit has already conducted relevant explorations on the tokenization of cloud computing power. The first allotment of our cloud computing power products MNTK2201 has already been sold out, and is currently being traded on secondary market. The special features of MNTK2201 are that the income generated from BTC will automatically be credited to relevant users on a daily basis, and that the users who hold the product can place their orders of the product and trade it on secondary market at any time. Judging from market feedback, it appears that the product has not gained that much popularity.
We have discovered that, in order to pursue stable incomes, miners rarely choose to buy tokens; and that those users who choose to buy tokens pursue a higher rate of payback, and instead, they rarely conduct mining activities. Hence, the abovementioned situation requires us to continue explore and balance various types of products. Regarding our cooperation with mining pools, we will often cooperate and serve our users together. For example, in case that certain problems occur to miners when they withdraw their tokens from mining pool to exchange, we as exchange will sometimes cooperate with relevant mining pools to solve the problem for relevant miners. Also, in case that the mainnet of certain new mining tokens are not stable enough, we will also conduct technical researchers and discussions with relevant mining pools as well.
Considering the fact that Hotbit has already become one of the exchanges that has listed the greatest number regarding the types of mining tokens, we conduct very frequent interactions with mining pools, and Hotbit has also established excellent co-operational relationships with various mining pools. Regarding the assessment and evaluation of mining tokens and non-mining tokens, Hotbit chooses to respect the actual demand of the market, no matter the project enjoys a leading technology or the project has already put its applications into practical use. As a matter of fact, mining tokens enjoy a special advantage, which is that mining tokens are supported by both cryptocurrency investors and miners. Considering that huge amount of computing power generated by NVIDIA will remain idle after ETH is switched to POS, we hold the positive view regarding the upcoming market trend of mining tokens in general.
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