The Cryptocurrency Evolution: From Bitcoin to HUH Token
Although the domain name bitcoin.org was registered on August 18th, 2008, it wasn’t until October 31st of that year that a link to Bitcoin: A Peer-to-Peer Electronic Cash System (its white paper) was posted online. It was written by the enigmatic Satoshi Nakatomo, the legendary Bitcoin creator whose identity is still unknown to this day.
The white paper, which is now considered something of a Crypto Bible, spoke of Nakotomo’s ambitions for a peer-to-peer network that would establish a unique e-transaction system that was not reliant on trust. Cryptocurrency has evolved dramatically over the years, with the rise of altcoins such as HUH Token taking center stage.
The bitcoin network was established in 2009, and mining began. The first commercial Bitcoin transaction occurred in 2010, when 10,000 Bitcoins were exchanged for two Papa John’s pizzas. 2011 was the year that Bitcoin first exploded, with a 3200 percent gain between April and June. Rival altcoins began to emerge to capitalize on Bitcoin’s traction, revolutionizing how we perceive currency, from institutional to decentralized and encrypted.
Faced with the need to stand out, crypto began to evolve at a breakneck pace. Altcoins’ chance of going viral was to provide benefits not found in the original Bitcoin design, such as faster speed or greater anonymity. Dogecoin, for example, which began as an Internet meme, processes approximately 33 transactions per second, compared to Bitcoin’s average of 7. Shiba Inu takes pride in being more than just a Dogecoin clone; built on the Ethereum network, it is more adaptable than Bitcoin and incentivizes its users through the use of DEX.
People used altcoins to help them invest in the volatile crypto market and generate a steady stream of passive income. As of August 2021, one in every ten people invest in cryptocurrency, and 18,000 businesses accept cryptocurrency payments. Needless to say, the industry has progressed beyond what Nakatomo could have imagined. Furthermore, crypto has been dubbed the “future of finance,” with nearly two-thirds of Gen Z investors believing that it will make them wealthy.
Bitcoin, on the other hand, is currently going through a rough patch. Its value dropped by nearly 20% following a selloff last weekend that also affected altcoins such as Ethereum, Shiba Inu, and Dogecoin. The market capitalisation of cryptocurrency assets has fallen to $2 trillion. Are there any altcoins that are immune to volatility and price fluctuations in this age of crypto evolution?
That is what stable coins are attempting to accomplish. They appear to be sweeping the market since Bitcoin’s crash, attached to an external asset to reduce volatility. Tether, one of the most well-known stable coins, has minted an additional $3 billion in the last two weeks, bringing its total value to $76 billion. Despite its success, Tether has been marred by controversy, ranging from regulatory scrutiny to a trillion-dollar lawsuit, indicating that investors are looking for a new stable coin to flock to.
HUH Token debuted on PancakeSwap on December 6th and has quickly gained popularity. HUH Token, which coined the term ‘utimeme’ to describe itself, has an 888 billion total supply, with 1 percent already allocated during the presale, according to its White Paper. HUH also charges a standard buy fee of 15% and a standard sell fee of 20%. By increasing the sell fee, HUH incentivizes its users to hold for longer periods of time, fostering long-term investment that is sustainable.
Another technique used by HUH is a reward-based referral system, in which users can earn more HUH tokens by referring friends, and their friends can earn more HUH tokens by referring friends, from which they will all benefit in the long run.
HUH has already locked in liquidity for two years and has lofty goals, including luring Elon Musk with a wallet worth half of the total HUH token supply at launch. The question now is whether HUH will live up to its hype and become the next Bitcoin in the crypto evolution.
Follow HUH Token on their Socials
Telegram: https://t.me/HUHTOKEN
Website: https://huh.social
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/
