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Competition is the fuel of innovation

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Competition is the fuel of innovation
Source: BitMax

When it comes to the cryptocurrency market, few things remain static. Start-ups are racing to provide ever-improving products to gain a foothold in their respective markets. BitMax.io [BTMX.com] aligns with this mindset of constant improvement and in turn developed one of the most innovative exchanges model in the crowded cryptocurrency trading exchange space.

The Mechanism

BitMax.io’s introduction of combined BTMX mining and reverse-mining models has allowed it to lay the foundation for what they aim to be the most client-centric exchange to date.

Users who opt to utilize the exchange’s transaction-fee mining mechanism will be able to trade with transaction fees ranging from 0.04%-0.025%, which is the lowest in the industry. The equivalent of the aforementioned fee will be returned to the user’s account in the form of BTMX, the native token of the BitMax.io exchange, based on BTMX’s price on the secondary market.

Additionally, as BitMax.io offers the option of reverse-mining for Maker trades, user not only get rebates by executing Maker trades but also “return” the equivalent market value of BTMX tokens by the platform deducting them from the user’s account. They will be sent for permanent lock-up, thus reducing the overall circulation of BTMX on the secondary market.

An Outstanding Token Model

Most of the current top-ranked exchanges earned their positions on the basis of price-competition. However, the crypto market is one of the most dynamic industries in the world, and thus the pricing models that once seemed economical are now considerably expensive if compared to the fees charged by BitMax.io. On top of that, BitMax’s tight spreads and outstanding token model, which were developed through extensive market research, have definitely differentiated itself from the rest of industry.

Trans-fee and Reverse Mining vs Other Models

BitMax’s trans-fee mining and reverse-mining models go hand-in-hand. The trans-fee model provides liquidity on the secondary markets while reverse mining model for those maker trades provides a means to control the inflationary nature of transaction mining from the number of token in circulation. Together, these facilities carve out a new token model, and this is how it compares with established token models.

Membership Benefits: using BTMX to purchase membership VIP cards can give users the discount that can be as much as 30% off of regular transaction fees. Currently, some other exchanges charge several thousand dollars per month for this kind of membership benefit. Also, the membership allows the user to have high limit for large-sell orders, giving user more flexibility while reducing the number of BTMX tokens in support of the overall supply-demand balance.  All in all, the membership program creates loyalty among the users with potential higher share of distribution of transaction fee in the form of data usage feel pool.

Transaction-Mining and Reverse-Mining: BitMax.io is not only the pioneer of trans-fee mining, but also is the industry first exchange to complement it with reverse-mining. This has a considerable impact on how BitMax differs from other exchanges that only offer trans-fee mining. Other exchanges that use transaction-mining have only developed minimal usages for the mined tokens. Thus, the only way to control token in circulation while maintaining the token value is through the artificial buy-backs the exchanges perform themselves, or for token holders hoping to receive a dividend derived from daily fees.

BitMax.io, however, has structured BTMX as a utility token with a sustainable use case. With combined mining and reverse mining models, users can reduce their overall transaction fees especially factoring in the rebates received for the maker trades, and share one’s trading data to the exchange in return for a portion of daily transaction fee. These mechanisms establish a natural demand for BTMX tokens because of the utility they provide. And BitMax’s future platform improvements will increase BTMX utility moving forward.

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Press Release

Party for the POC Believers – A New Consensus, a New Era

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Party for the POC Believers - A New Consensus, a New Era
Source: Pixabay

One of the most influential blockchain conferences – Consensus 2019, has just ended. Leading figures from all over the worlds of business and technology are still discussing the stories that emerged during the event, on the blockchain market, tech development and more.

Consensus is the core spirit of blockchain. The Consensus conference is named after this principle. While paying tribute to the technology, it inspires people in the blockchain industry to communicate, innovate and solve problems.

Source: Socialydia

After attending the Consensus conference, the BHD Community held an invitation-only party, ‘New Consensus, New Era’, at the Hilton Hotel NY on 14th May. This party gathered people from all over the world who believe in POC consensus, hard disk mining, and BHD, and gave them a good opportunity to connect in person.

Gary, BHD Community Initiator and Hpool COO, stated,

“The POC consensus adopted by BHD will lead a new era. Compared to ASIC mining, hard disk mining costs much less. The hard disk is also the most decentralized mining hardware in the world.”

He believed that only POC could realize the initial vision of Nakamoto – ‘one person, one vote’ – and called on people to join the POC ecosystem.

Source: Socialydia

Source: Socialydia

The attending investors and practitioners had deep discussions on the POC consensus and showed high recognition and interest.

Source: Socialydia

Source: Socialydia

[Network Session at the Party]

Source: Socialydia

Source: Socialydia

[BHD at Consensus 2019]

Source: Socialydia

Source: Socialydia

[photo with the visitors]

In the era of POW, BTC was at the forefront of the scene; now the rise of POC brings a new trend. BHD is the pioneer of this revolution, with new consensus and new mining structures. BHD will become the ‘BTC’ of the POC consensus mechanism.

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