Crypto Exchange Huobi Global Launches a Telegram Competitor

via Huobi

Huobi Global, owner of the third largest cryptocurrency exchange by trading volume, has launched its own social media platform, Huobi Chat, a new decentralized messaging app similar to cloud-based instant messaging app Telegram.

According to Huobi Chat’s launch page, the new application boasts a number of features, including free messaging, secure data transfer, payment systems, market data, news and even gaming functionality.

To facilitate the growth of the platform, Huobi aims to leverage the idea of “socializing is mining.” This essentially means that it will incentivize users to join the platform with monetary gain, and has introduced HCT, or Huobi Chat Token, as the unit of incentivization. Users can gain HCT for promoting the platform and completing¬†certain tasks.

Similar to Telegram, Huobi Chat is available seamlessly across devices, including Android, iOS, Windows and Mac. The service launched its beta last week for 1,270 pre-selected users.

Being one the of most well-known cryptocurrency companies in the industry, Huobi stands to gain from its ability to provide top-level functionality and security. Huobi Token (HT), the company’s exchange token, is currently ranked 6th in the¬†AltDex Exchange Index¬†(ALTEXC).

Interesting: Huobi Seeks Hong Kong Stock Exchange Listing With a $77 Million Reverse Takeover

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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