TOP Token Surges over 28% Growth, Just Three Days After Huobi Prime Premiere
TOP Network issued an announcement via Twitter earlier today confirming that TOP seen a 24 hour increase of over 17% in the last 24 hours.
TOP Token has been climbing for three consecutive days since it launched on @HuobiGlobal Prime on March 26. TOP surged 17.7% today hitting $0.013, approximately 8 times the initial price on Prime.
— TOP Network (@topnetwork_top) March 29, 2019
Meanwhile CoinGecko lists the 24 hour increase in value, at the time of writing, as 28.1%.
TOP first rose to the attention of most when it was announced as the first token to get listed on the brand new premium ‘Huobi Prime’ service, which allows traders to purchase tokens at initial-offering stage before they go on sale to the full community of Huobi users.
There also appears to have been a notable appreciation in value of the proprietary Huobi exchange token after this sale -drawing further comparisons between Prime, and Binance’s Launchpad platform (with it’s Binance Coin).
Talking About TOP Network, with Steve Wei
TOP Network comprises of a team which has been working in the telecommunications sector for over 20 years. The company provides a blockchain-based open-source full-stack suite comprising of a decentralised solutions such as VoIP, IoT Data Sharing, Cloud Storage and more.
According to Founder and CEO Steve Wei,
“Encrypted messaging apps, even comparatively secure than other centralized ones like Facebook Messenger and WhatsApp, are still vulnerable to attacks,
“For example, if we receive subpoenas from FBI to provide the message contents on CoverMe, we’re unable to access the specific encrypted messages but are obliged to release other user data like IP address and login information.
“However, once CoverMe is on blockchain, we will not have any approach to user data,”
On a technological level,
“TOP Chain uses PBFT-DPoS (practical byzantine fault tolerance with delegated proof of stake) consensus mechanism specially designed to support real businesses on the blockchain. In the traditional DPoS consensus mechanism, consensus nodes are selected based solely on their stake, or the size of their assets, leading to the the-rich-get-richer situation.
“The stake defined on TOP Chain, called Comprehensive Stake, combines multiple factors including asset stake, accumulated reputation, computing power and so on.
“Additionally, TOP uses a VRF algorithm to elect the final consensus nodes among nodes with the highest comprehensive stake. The consensus nodes execute PBFT algorithm to validate transactions and produce blocks. The consensus mechanism protects the security and integrity of TOP Chain.
And upon launching, TOP Network will be migrating a 60-million strong user base from apps of pre-existing brands Dingtone, CoverMe, and SkyVPN to the service – bolstering its use case further.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
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