HitChain (HIT) recently got its first global listing on Huobi Global. The initial listing on Huobi was marked with the launch of HIT/BTC and HIT/ETH trading pairs on 3rd August.

What is HitChain?

HitChain is a collaborative decentralized blockchain developer community created to reward developers for their contributions. Using a transparent blockchain-based credit system, it allows developers to automatically redeem the value of their creativity in form of monetary compensation or privileges.

Even though computer programmers and software developers are among the biggest contributors to technological breakthroughs, their efforts are not always rewarded. Building a software business would be a natural recourse to avert this problem. But the costs are far too prohibitive for a majority of them.

As a blockchain developer community built by developers for developers, the platform makes it possible for them to get due compensation for their innovations.

An Overview of the Project

Team Composition

The HitChain team comprises global open source experts and veterans with impressive backgrounds from Microsoft, Openstack, RedHat and OSChina. Equally impressive is its advisory team, which includes AELF founder Haobo Ma and Jia Tian the chief scientist of Cortex. As both are renowned blockchain experts, their advisory role will make a big contribution to the project.

Endorsement from Multiple Institutional Investors

The Project has received endorsement from a robust list of institutional investors. They acknowledge the high potential of its promising technical features as well as the anticipated open source ecosystem.

BitMain – BitMain is the top chip R&D company globally and has emerged as a matchless monopoly in as far as computing power is concerned. Its endorsement of the project must have been due to the value of its developer community and the ecosystem as a whole.

Huobi Capital – Huobi Capital is the investment arm of Huobi Global, which picks out high potential blockchain projects to invest in. As per its investment policy, it singles out “daring, innovative and charismatic leaders” and invests in them to help them achieve full potential.

DraperDragon – Tim Draper’s DraperDragon is another key project investor. As one of the most legendary angel investors in Silicon Valley, he has a knack for selecting top projects, which subsequently attract a lot of attention.

Robust ‘Code is Law’ Protocol

The source code of the smart contract is yet another impressive aspect of the project. While it is admittedly complex, it is so precise that code controls every single lock-up and unlock. It is a true testament to the “Code is Law” concept to which developers adhere.

Since going live on Github, the platform’s source code has already received 342 stars from global developers and 718 commits from 15 contributors.

Reasons Why You Should Invest in HitChain

HitChain is among the most promising blockchain projects of all time. It comes as no surprise whatsoever that it over-fulfilled its requirements for funds within a span of two days. Here are a number of key reasons why I would invest in the project:

Seasoned Investors Funding the Project – one of the clearest signs that it has a bright future is the fact that seasoned venture capital firms are clamoring to get in on the action. In addition to DraperDragon, other well-known capital investments in the project include BlockVC, OK Capital, Hunter Capital and Fire Capital among others. Considering their years of experience in investing, they must have seen massive potential in the platform.

Remarkable Business Model – the concept on which the project is built is failsafe and addresses a real market need. Developers are among the fundamental building blocks of the technological ecosystem. In view of the current digital transformation that is rocking every aspect of the economy, a platform that focuses on rewarding their contributions is timely and revolutionary.

The Role of Open-Source Software in Computing – since the onset of the open-source software movement, computing has been democratized. As a result, millions of users around the world are able to embrace its innovations. More importantly, this has increased the pace of technological innovation.

Bringing together some of the biggest names in open-source technology and the blockchain industry, this project seems set to hit the moon. The HitChain global listing on Huobi Global is yet another feather to its cap, and an opportunity for investors to take advantage of its high potential. Following the initial listing on Huobi it is highly likely to generate higher interest on the blockchain community and a subsequent value increment. Create a Huobi account now and get some HIT.