Blockchain

OKEx Exchange to use Hedera Hashgraph

One of the world’s biggest cryptocurrency exchanges, OKEx, will become one of the only exchanges to list Hedera Hashgraph on its platform.

Announced today (10/9/19) on its website and Twitter account, the listing makes the Malta-based digital assets platform one of the first exchanges to list the popular asset, which is recognized by its $HBAR ticker.

Hedera Hashgraph is a ‘third generation public ledger’, that is working to build on the successes of the Bitcoin and Ethereum networks – that is decentralized infrastructure, and programmability, respectively – to build a less energy intensive, highly secure fast network, that features “blazing-fast” transaction speeds.

According to Hedera, the network is able to handle 10,000 cryptocurrency transactions per second (TPS), compared to the three TPS of Bitcoin and the 12 TPS of Ethereum, while also charging fees of around $0.0001 per transaction, and providing network confirmation in around three seconds.

Welcome to the exchange

The OKEx team made the announcement on its website and said deposits of $HBAR could be made from September 16, 2019.

The $HBAR token will initially be available in three trading pairs on the exchange, HBAR/BTC, HBAR/USDT and HBAR/USDK, with these becoming available on September 17. Customers will be able to make withdrawals of the token from September 24.

A spokesperson for OKEx said they were pleased to add $HBAR to the exchange and that they were responding to increasing demand from their customers to list the token.

“We’re excited to welcome Hedera Hashgraph’s $HBAR token to OKEx,” they said.

“HBAR is the native currency of the Hedera public network and is used to help power decentralized applications made on the network and to build different payment and business models.

“We hope our customers look forward to trading this token across our world-class platform.

“However, we’d like to remind anyone trading cryptocurrencies that there are always inherent risks involved. Before you trade, make sure you have a risk management plan in place, think about your investment objectives and if necessary seek independent financial advice before you start to trade.”

OKEx is a global cryptocurrency exchange, that launched in 2014, originally in Hong Kong. Since then has grown to become one of the biggest cryptocurrency exchanges in the world, and is used by millions of crypto traders – new and experienced – globally every day.

Recent data from CoinMarketCap, rated OKEx as having processed more than $769 million in adjusted trading volume in the past 24 hours.

About author

Articles

Morris is a Technology enthusiast and a writer by night. He has been a part of TheTechly for quite some time and he contributes knowledgeable news articles from the Technology niche.
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