Standing at the forefront, stay awake - A letter from Huobi founder Li Lin to the industry and users on its third anniversary

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Dear Huobi users and industry partners:

Hello!

Time flies, and Huobi is already three years old. For a child, from birth to three years old, he/she has learned the basics of walking, talking and expressing emotions. For a startup, more than a thousand days and nights of overcoming difficulties have gradually enabled it to have its own influence and cultural accumulation.

Huobi is three years old, and all I can say is thank you.

Thanks to all our users and partners. Because of your support, Huobi has the strength to move forward.

Thanks to all my friends and investors. With you behind us, Huobi can be confident and calm.

Thanks to all my colleagues in the industry. Because of your company, Huobi can weather the storm and welcome the sunshine.

In the past three years, Huobi, as the world's leading digital currency trading platform, has provided safe and reliable digital currency trading services 24 hours a day to more than 2 million users in more than 30 countries and regions. It has broken the record for the highest daily Bitcoin trading volume for seven consecutive times, with a cumulative trading volume of 1.3 trillion yuan.

Looking back, the three years of Huobi’s development are also the three years of industry growth.

In 2013, soon after Huobi went online, it experienced the biggest rise in the history of Bitcoin trading, with the price once soaring to RMB 8,000. Digital currencies represented by Bitcoin became "hot stars" and were sought after by global media. Fortunately, Huobi won reputation and honor with its service and sincerity during this period, and became the first camp of global digital currency exchanges.

In 2014, the digital currency industry began to return to rationality and the industrial chain began to take shape. Huobi integrated resources and established a full industrial chain model from upstream mining and blockchain data query, midstream trading to downstream digital currency derivatives. This year, Huobi was fortunate to be the only digital currency company invited to participate in the WeMedia 2014 China We Media Annual Conference of the We Media Alliance, explaining Bitcoin and blockchain to 300 million people. This year, Huobi participated in the Sanya International Finance Forum and introduced the application prospects of Bitcoin's underlying technology blockchain in the traditional financial field to Wu Xiaoling, deputy governor of the People's Bank of China. This was the first time that "digital currency" appeared in a high-end international forum. This year, Huobi won numerous trophies of various sizes, such as the "2014 Internet Financial Platform Award" and the "2014 Internet Financial Leading Enterprise", and gained recognition from authoritative institutions and industries.

In 2015, after the digital currency industry experienced ups and downs, enthusiastic investors began to retreat, the market entered a stable period, and blockchain began to be popular. Huobi and the few stalwarts in the industry began to calm down and slowly polish their products. It was in this year that Huobi completely upgraded its trading platform, realizing one-stop trading of Bitcoin, RMB and US dollars. Huobi's App has also become one of the most practical digital currency mobile trading clients in China. In order to further promote the development of digital currency, Huobi and the Internet Finance Laboratory of Tsinghua University's PBC School of Finance launched the "Digital Asset Research Project" and submitted regulatory recommendations to the central bank. At the same time, Huobi Blockchain Research Center was established to comprehensively study and promote the application of blockchain technology.

In 2016, blockchain received great attention from the government, capital and media. All of a sudden, blockchain-related companies and organizations emerged like mushrooms after rain. Huobi was at the forefront of this trend. In June this year, Huobi Blockchain Research Center published the first book in China that introduced blockchain in an easy-to-understand way, "Blockchain: Defining the Future and the New Economic Landscape". In mid-July, Huobi Blockchain Research Center, Tsinghua University PBC School of Finance Internet Finance Laboratory and Sina Technology jointly released the "2014-2016 Global Bitcoin Development Research Report", which is the first research report in China that comprehensively introduces the current status of Bitcoin and blockchain development.

Being in the heat, the halo and achievements seem to be within easy reach. However, we clearly realize that between "seeing" and "getting", "doing" is the most difficult. Being closest to blockchain technology and knowing it well is Huobi's absolute advantage, but also a fatal temptation. After experiencing the process of blockchain concept from being ignored to being popular all over the world, Huobi began to reflect on whether we overestimated the short-term value of blockchain and underestimated its long-term value in the hustle and bustle. After detailed market research and intense internal discussions, we began to look at this craze calmly. Standing at the forefront, Huobi needs to stay sober and explore feasible paths. At this stage, Huobi Blockchain Research Center will focus more on the research of underlying big data of blockchain technology, lay a solid foundation for global blockchain applications, and make contributions in the field of anti-fraud.

Looking forward to the fourth year, the digital currency and blockchain industry will enter a new stage of development. Fusion and fission, innovation and adventure, opportunities and challenges are always happening around us. Huobi will continue to provide good services to users and the industry, and promote the development of the industry with practical work. We always believe that actions speak louder than words. In the future, Huobi will unswervingly promote the development of global digital currency and blockchain.

Founder of Huobi

Li Lin

September 1, 2016