September 11, 2019 – The digital asset exchange OKEx announces that it will list Hedera Token (HBAR), the native currency of Hedera Hashgraph, the blockchain-like public network for enterprises on September 17, 2019.
Using the hashgraph consensus algorithm, its underlying protocol allows each node to “gossip” with each other until all nodes have the same versions of the transactions and order of events. The HBAR token will have the following functions:
- To reward nodes for providing consensus, as payment for API calls, and to facilitate micropayments;
- To allow a user to use Hedera API and additional services built on top;
- For proof of stake purposes to prevent Sybil attacks; nodes vote on consensus based on the value of the coins in their wallet, effectively making the coin critical to the network’s security.
Most recently, Hedera announces the 39-independent member of its governance council. The members have come from different industries and locations across the globe to ensure that governance and market needs are met fairly. Last August, Hedera announces that multinational company IBM and Indian telecommunications company Tata Communications will be joining its governance council. Hedera notes that this is a powerful endorsement of the Hashgraph consensus mechanism. Open Access (OA) to its mainnet beta will occur on September 16, 2019 to allow any developers to create an account and build decentralized applications (dapps) on the Hedera Hashgraph Platform.
Hedera said its consensus algorithm is the only consensus protocol that has achieved the highest level of security possible: Asynchronous Byzantine Fault Tolerance (ABFT). With this, the network “will achieve consensus finality” even under real-world network faults. The math behind this was explained in the 2016 whitepaper, and was later proven by Carnegie Mellon University.
The listing on OKEx is a major win to the platform, which recently hosted initial exchange offerings and currently offers over 400 tokens and futures trading pairs. In a press release, OKEx highlights the high standard of its listing process; project quality, legal qualifications, business model and structure, project community, etc.
OKEx’s listing review process sets a high standard in many aspects, including important pillars ranging from project quality (i.e. (legal) qualifications, business model and structure, promotion etc.) to project community (i.e. ecosystem-wise capacity and promotion opportunity). By taking every possible measure, OKEx strives to ensure every listed project delivers practical use cases and brings in market liquidity.
In a statement, OKEx said the company and Hedera share the same goal of “building a trusted, safe, and fair digital future for everyone through developing a neutral and open-access infrastructure.”
“Hedera and OKEx share the same goal of building a trusted, safe, and fair digital future for everyone through developing a neutral, open-access infrastructure. With such a powerful, enterprise-grade ledger technology, we believe it is a big step forward in mainstream adoption of decentralization. We are excited to join hands with Hedera team to continue to explore the technological breakthrough and lead this industry forward,”
As one of the first exchanges to list HBAr, deposits will begin at 04:00 September 16. 2019 (CEST, UTC +2). The first trading pairs are HBAR/BTC, HBAR/USDT, and HBAR/USDK on September 17, 2019 (CEST, UTC +2). Withdrawal will start on 04:00 September 24, 2019 (CEST, UTC +2).
As part of the campaign, Hedera will be having an “Ask Me Anything” (AMA) Session on OKEx’s Filipino Telegram Community Channel. Anyone can send questions at this link: http://bit.ly/2lL8ZJZ . Users whose questions have been answered during the session will receive 2 USDT. Questions can be submitted until September 12, 2019 at 11:59 am.
This article is first published on BitPinas: OKEx to List Hedera Hashgraph