How will Yunbi deal with the explosion of blockchain technology?

When it comes to Yunbi, users' first impression is that it has strong technology and transparent assets. As the first domestic exchange to list Ethereum, Yunbi has been operating in a low-key manner since 2014. Recently, it announced that it will undergo a new version change on April 1. Is the Yunbi version change the first step to cope with the explosion of blockchain technology? On March 28, Yunbi CEO Qiu Liang and Yunbi COO Lao Mao were guests on Babbitt's "Coin TALK" column and had an interactive Q&A session with users for two hours.

New version is online, what issues should be paid attention to

In the announcement of the new version released by Yunbi, it was stated that after the revision, a transaction fee of 0.1% will be charged for some transactions. Users are worried that the handling fee may affect the short-term transactions of the platform. Qiu Liang believes:

“The deposit and withdrawal of Yunbi are completely free. We hope that users can deposit money whenever they need to trade, and withdraw money to their accounts when they don’t need it. Transaction fees are the foundation of the exchange. Yunbi will not earn a penny from users through any non-transaction fee channels, so we welcome traders who can bear these costs to trade.”
“Ethereum transactions charge a transaction fee of 0.1%, and this fee is no joke. Even if Yunbi charges 0.1%, it is still the trading platform with the lowest fee because we do not have any withdrawal fees. In addition, we welcome you to trade and withdraw your coins at any time. What Yunbi wants to do is to be transparent and open,” Lao Mao added.

At the same time as the new version is launched, Yunbi will also launch some new trading products. A few days ago, Yunbi posted the "Yunbi Online Trading Product Public Standards" on Weibo, which attracted everyone's attention. It lists conditions such as "having positive significance in the blockchain field" and "not considering any forked coins". So how to distinguish between forked coins and tokens with positive significance? How to judge whether a currency has positive significance for the blockchain? Lao Mao and Qiu Liang explained:

“Regarding the issue of FORK code, Qiu Liang is a senior developer himself. He can judge from the logic of the code whether the development process is innovative or just a change of parameters. This judgment process is subjective. Just like what we said in the published standards, we are not obliged to launch all varieties that meet the standards.
In addition, regarding the question of whether to charge fees, this question cannot be answered with an absolute yes or no, because this will be a decision for a long time in the future. We have not charged for listing coins before, and we will not list coins without principles just because we can charge for it.
In terms of how to judge the positive significance, first, we will judge whether this variety is related to the blockchain application with unique value. In addition, there is a sense of direction for the positive significance of blockchain. Making blockchain applications more valuable is a way to measure significance, but this judgment is still subjective. We believe that we have enough ability to judge the value of this "positive significance."

On the other hand, regarding currencies with less active transactions, such as PLAY, Yunbi’s handling method and reasoning are as follows:

(PLAY) is a public IPO product and currently still meets our listing standards. However, due to its low trading activity, it has been set to the "second version" in our trading interface, which requires clicking to see it. Survival of the fittest is a necessary process. We have not delisted trading products before. When we believe that a product does not meet the standards for Yunbi trading, we will delist it.

At the same time, Yunbi.com will fully upgrade the KYC certification system after April 1. After the customer has passed the KYC certification, the customer's deposit and transfer of digital assets will be deemed "legal". Yunbi will not withhold the assets of users who meet the KYC certification requirements. However, if the user is suspected of violating the law and is investigated by the relevant department, Yunbi will provide the corresponding KYC information to the law enforcement department in accordance with legal regulations.

What it’s like to witness Ethereum’s rise from its lowest price to its highest price

As the first domestic exchange to list Ethereum, Yunbi has witnessed the entire process of Ethereum from more than 3 yuan to 98 yuan. When talking about what it was like to witness the price of Ethereum from the lowest to the highest, Lao Mao said that this is a very interesting topic.

“I am very grateful to some of my former colleagues who are great Ethereum enthusiasts at Yunbi. They had an influence on the launch of Ethereum at the first time. When Yunbi first launched Ethereum trading, it was difficult for users to recharge because the recharge method used IBAN according to official opinions. It can almost be described as a deserted place. After that, the price of Ethereum continued to fall, reaching a minimum of more than 3 yuan. At that time, we did not have enough room for imagination about the future growth of Ethereum.

By October 2015, the price of Ethereum began to rise slowly, and customer recharges increased significantly, especially in the 8-10 yuan period, when transactions began to see a small climax. I personally think this has a certain relationship with the explosion of blockchain technology, so on November 18th I posted an assessment on my personal Weibo that the market value of Ethereum may surpass other varieties and rank second in the next two months. However, I was badly criticized, and many people advised me not to say too much to avoid being slapped in the face, so I rarely mentioned Ethereum.

But the price of Ethereum did not stop rising just because I said nothing. In the following period of time, it rushed to the highest point of the period willfully and persistently. The price of Ethereum exceeded 98 yuan on Yunbi and reached a maximum of 102 yuan on P network in RMB. This price also surprised me.

At the same time, the number of customers and transaction volume of Yunbi.com is refreshing almost every day. Yunbi's trading system and service capabilities have also been tested in this small outbreak. The Yunbi customer service team has maintained high-quality services without expanding the staff, although everyone's workload is many times greater than usual. After this stage, Yunbi.com has finally entered the ranks of "mature" trading platforms.

Although Yunbi.com does not participate in the trading of Ethereum, the rise of Ethereum has positive significance for Yunbi.com. Yunbi.com thanks the market for providing this opportunity to Yunbi.com, and we will cherish this opportunity to make the trading platform a trading platform that customers are more satisfied with. "

When talking about the currently popular blockchain, Qiu Liang believes:

Blockchain is just a very popular concept, and I personally recognized this concept when everyone was still talking about Bitcoin, so blockchain has long been in the bones of Yunbi. The earliest support for Bitshares and Ethereum is a proof of this. Yunbi has always believed that it is a very meaningful thing for valuable blockchain assets to be available for everyone to trade on a reliable platform.

At the same time, he personally has some ideas about the commercialization of blockchain, and welcomes everyone to visit his Beijing Zhongguancun office for exchanges.

Adhere to the bottom line and characteristics, the exchange is fundamentally based on trust

Qiu Liang also said that Yunbi has its own persistence and bottom line, and what it needs to do well at present is the spot market. Compared with other exchanges, Yunbi has two characteristics: 1. It is more convenient and faster than foreign websites, and 2. It has better depth and liquidity than other domestic platforms.

As for the widespread problem of volume manipulation in domestic exchanges, Lao Mao and Qiu Liang have this view:

Yunbi's view is very simple. The foundation of the existence of exchanges is trust. Inflating trading volume is a fraudulent and deceptive act. We have always believed that trading volume is the real data that trading platforms should show to customers. I am also a technical analysis enthusiast. As we all know, there is a saying in technical analysis that everything can be fake, but volume cannot be fake. Therefore, trading volume is almost the basic data for the public to do technical analysis, so it is very important. Therefore, showing users false trading volume is an unscrupulous behavior for trading platforms, and we despise it. As for the fact that the trading volume of other domestic platforms exceeds Yunbi, this is normal. We are willing to be a low-key trading platform with sufficient depth. Other things are not important.

Editor: Mengda Source: Babbitt Information (http://www.8btc.com/yunbi-ama)