Editor’s note: This article from the chain catcher (ID:iqklbs), author Gong Quanyu, the daily planet Odaily authorized reprint.
Recently, the exchange platform currency turmoil, a large number of coins in nearly half of the platform impressive rally, HT, BNB, OKB, BIX and other mainstream platform coins were a month ago rose more than 100%.
In fact, the platform is a special encryption currency the existence of money market. On the one hand, as the issue of currency exchange, currency value and application scenarios have platform support most of the block chain project currency has not; on the other hand, the exchange has high maneuverability on the platform to attract users to exchange currency, as many as a profit-making tool. In this paper, the chain (ID:iqklbs) comb the development platform and its currency exchanges in the status and role, hoping to improve readers’ understanding of the currency platform.
The exchange platform of digital currency exchange currency, is issued, and is associated with specific rights associated with currency exchange, such as the deduction of fees, dividends and other platforms to enjoy. With the development of the industry, currency exchange platform has almost become the mainstream of the “standard”, and the strategic position is more and more high, the function and application of the scene gradually endowed with more and more rich.
Today, money has been born platform for nearly 6 years, witnessed several ups and downs, change the pattern of exchange industry. So, in recent years the currency platform has experienced the development process like? How to play the role in the exchange industry? It plays a positive and negative role?
The origins and history of currency platform
The earliest currency platform prototype was born in 2013, established exchanges in 9 bit era September launched era coins (TMC) cents plan, the total issue amount is 1600 million, according to the platform users day trading volume free of charge to the user. At the same time, bit era transaction fees in 50%, will be used for bonuses, the bonus according to user’s actual holding of the number of TMC proportion of dividends.
In October 13 issued currency allocation times
The user can also be traded on the era of currency in the bit era, the specific price trend is difficult to learn, but the chain of information from the network, a user said in 13 to the price of 0.15 yuan bought a number of times after the currency, to the price of 5 yuan sold, an increase of 30 times.
But the era of currency is not based on a block chain network issue, but a bit era internal circulation of documents, official bit era called “cents” and “certificate of interest in virtual computing unit, and now the most common currency platform are different.
Another early platform is the well-known Bitfinex exchange currency tokens issued in 8 16 years BFX months Bitfinex year because of tokens, there was a serious accident lost coins, Bitfinex decided to issue its own debt token based on BFX, to compensate for the loss of assets and reduce the impact on the users of their own cash flow. In April second, Bitfinex a price of $1 to repurchase all BFX, the token and stop trading and distribution.
From 13 to 16 years, and during a number of small and medium-sized exchange launched a similar era of coin currency, but since that time the overall market is poor, and the type of currency free distribution, income does not increase as the platform, but to give half of user fee revenue, while users drainage effect is not very obvious, resulting in early the platform mode has not been paid sufficient attention to currency exchange industry, until the birth of BNB.
7 17, an official currency issuance platform currency BNB, the earlier platform currency mode, carried out a number of adjustment, the first is the hot issue mechanism when ICO platform 2 dollars; give up cash dividends mechanism take profit buyback mechanism, while the user holds a BNB can deduct fees and participation coin voting; third is put forward in the future will build public chain and to the center of the trading platform, BNB will become the “fuel”.
Through these mechanisms, given the richness of the currency security function for the platform of hitherto unknown currency, while its own interests and the interests of users is bound by the platform currency, coupled with positive overall market skyrocketing occasion, the price of BNB at the end of 17 higher than the issue price rose by more than 100 times, not only to obtain a large amount of revenue for the platform, but also by virtue of the attraction many new users.
At the same time, Bibox and KuCoin in the first half of the new exchange issued under the 17 platform ushered in the same currency rose. But this time, the fire coins, OKEx and other established exchanges are not yet released platform coins, but obviously they will not ignore.
18 years 1-2 months, OK, ZB, fire currency established exchanges invariably have issued platform currency, although the specific mechanism is different, but essentially similar: users need to pay extra money and access to the platform, the platform party will set aside part of the platform.
18 years 6-7 months, platform money market with the birth of FCoin platform FT currency reached climax. Compared to the past, free ICO purchase card gift issue mode, FCoin users will pay transaction fees to the equivalent of $FT platform is returned to the user, while the user holds the FT FCoin can get the bonus fee.
FCoin trading mining not only won great attention for their own, and then bring the FT increased tenfold, and will also pull the new currency platform role played most incisive. Previously, the exchange industry giant buildings, the general public that is very difficult to have a new exchange to break, but through the FCoin platform FT currency has changed this situation, at the same time stimulate hundreds of exchange based on the new mining model was born.
But due to the inherent problems of mining transaction mechanism, and then the overall market fell, trading volume shrinking, the exchange platform industry entered a bear market, currency has plummeted, there are also many fell more than 90% of the platform began to pick up coins, until recently.
The function and role of currency platform
Compared with the vast majority of block chain project issued currency, currency exchange platform has many different characteristics, which is mainly reflected in the currency platform users and platform in support of real profits. The exchange is a natural flow entrance, it has a variety of user consumption scenarios, than most currencies are more suitable for the user to invest. BiKi.com founder Li Xiandong said exchange “.
Li Xiandong also pointed out that the platform currency value depends on two points, one is the development of exchange rate fast enough, the second is to give the value of currency exchange platform is enough.
In exchange for their own level, will have platform currency exchange trading volume, visibility, reputation, safety and so on, exchange comprehensive strength is strong, positive impact on the currency of the platform is bigger. With the market rally platform currency, often represent the majority of investors attitude towards the future development of digital currency exchange.
“The above exchange project is not high quality reliable, secure and stable circulation of these projects, is the core currency behind the support platform.” Vice President Christina Bibox told the chain.
In the aspect of the platform from the core value of the currency, the mode of operation according to the platform mainly cash dividends and cash return of two categories, these two types are essentially by the exchange part of the overall benefits to Chibidaigou, the OKB, FT, BNB, HT as the representative of the latter, there are both currencies such as BIX. More specific to HT as an example, income of 20% core businesses have said the fire coins will be used to repurchase repurchase in 2018 a total of HT, about 40000000 HT.
Part of the market value of the top platform coin (March 21st evening) source: non small
Breakdown of view, the competition in currency exchange platform has already exceeded the level of dividends and repurchase, but gradually comes to the exchange aspects, which are relatively common scenarios on currency, coins, voting suocang, fee deduction margin businesses, in addition to several levels now become the new focus of exchange clearing currency platform.
The first is the public security, fire chain, currency coins, OKEx exchange have proposed to develop public platform chain, will become public money chain “fuel”, the future of public chain of each transaction to the platform to complete the “burning” currency. If the chain of the future development smoothly, is bound to greatly increase the demand for currency platform.
“Technological threshold public chain is not much, is the core of ecological can not do it, but the ecological depends on real user traffic, this is the king.” The founder of CoinBig fusion said that users and trading volume based on its own huge, has the absolute strength of the public exchange chain is granted.
Second is the payment scenarios, many application scenarios are expanding beyond the currency exchange platform, to allow more businesses to accept the money as a means of payment platform. However, in this scenario, the platform is still faced with currency bitcoin and other general encryption currency challenge, compared the stability and currency platform visibility has no advantage.
The third is the recent hot IEO, namely “Stock Exchange IPO” mode, user participation in raising the issue of new currency exchange, the exchange platform can only use the currency in the short term, can directly stimulate the currency demand and price rise platform. It is understood that the currency, coins, fire Bibox exchange in the recent IEO direction.
The above information shows that the exchanges are actively give a variety of functions and the scene as a platform for the interests of a large number of coins, will transfer to Chibidaigou, while stimulating its currency prices, currency exchange in the strategic position of the platform is also more and more high. So, what is the exchange platform have launched currency, transferring part of the profit motive? The platform can bring benefits for the currency exchange? The chain that has the following three points:
First, can bring considerable revenue and cash flow for the exchange, while further nurturing exchange business. The exchange issued platform coins mostly can reserve a portion of money to all platform team, but also through public issuance obtain direct or indirect income. More importantly, price and currency exchange platform to release information related to the exchange, may have the ability to influence by this platform, currency trading volume and price volatility.
Second, the exchange helps to build differentiated competitive advantage, to attract more users. Platform currency prices often represent the development trend of exchange and strength, currency exchange, the birth of the platform to attract more optimistic about the prospects of the user. “In the user perception level. In fact, safety performance, user experience exchanges are similar, the real difference lies in the platform of currency, our core competitive strategy is through the platform to attract and retain users.” Li Xiandong said.
Third, is conducive to the exchange of construction of community ecology, encourage users to participate in the platform construction. The user holds the currency exchange platform, its interests in a certain extent and exchange binding, tend to be more actively involved in the exchange of ecological construction. “Money is the exchange platform show its value, but also ecological construction tools.” Christina said.
Although the platform can bring the advantage to the currency exchange, but it also brought a series of negative effects. Compared with other scattered currency currency platform is basically concentrated on the issuers of exchange, exchange platform not only control many coins, but also through the release of news for the currency price formation manipulation platform.
“Due to the platform currency are highly maneuverable and a lot of comparison on the exchange platform of currency, are the exchange itself as a trader, to attract new users.” The number of fund founder words Xia said, “but not healthy growth in trading and soaring prices, is bound to hurt the blind users.”
Represented by FCoin mining model based on transaction exchange is a typical case of the negative effects of currency platform. Due to the FCoin in order to quickly obtain customers take no hardtop trading mining, the development of long-term dividends in the short term focus on the release of lead team to become the main group of brush single platform platform and the deterioration of ecosystem, which in fact in the future and maintain the overdraft exchange, FCoin or FT currency price is the key that additional funds can not Everfount into FCoin, with subsequent new inflows as fast as miners selling speed, the whole platform in negative feedback mode, currency prices fell, causing huge losses to investors.
Recently, with the currency, currency and other minority exchange fire safety release of good news, almost all exchange platform currency prices are rising, behind many exchanges own speculation emerged obvious signs of manipulation, because the new value of a lot of money and no actual platform support, then the price fell sharply, investors will be expected.
I am most worried about is the future, many exchanges have followed the launch of the IEO platform, but ignore the quality of the project, even with the garbage project party fraud user. As a result, the industry is not only the vampire, will bring greater confidence.” If the summer Xianglian expressed his catcher IEO flood concerns.
Many respondents also said that the currency platform is actually a tool to see how to use key exchange. “The money is actually a platform can be built out of the incremental market, as long as the platform constantly grow, so the market value of currency platform will be more and more big, all investors will make money, like bitcoin.” Li Xiandong said.
All kinds of chaos in the regulatory bitcoin platform before admission, because the quality is uneven, the retail exchange speculation is strong, I am afraid it is difficult to improve. But the currency in the currency market platform encryption will be increasingly high status, the quality of the platform will have the ability to coin even mainstream encryption currency challenge.
Note: thanks to the founder of Wei Kun, the science and technology branch co-founder Lei Yu, picked up the bucket agreement Quantitative Research Institute of cattle cattle God Pavilion on the support of God