Top crypto exchange Bithumb officially announced to offer Tachyon(IPX) staking service on its platform today. IPX is the 3rd staking cryptocurrency Bithumb supports after IOST and Luna.
Bithumb is regularly featured in lists of the world’s 10 largest crypto exchanges and is one of the top 3 digital asset trading platforms in Korea. The leading digital assets platform has launched staking service with IOST and Luna since April based on Pos (Proof of Stake) or dPoS (Delegated Proof of Stake) algorithms. The staking service aims to reward Bithumb users for holding specific digital assets.
IPX is the cryptocurrency of Tachyon Protocol which ranks top 200 on CoinMarketCap with over $19 million market cap. It was listed on Bithumb in October 2019 and has received a strong welcome by the Korean market as its first decentralized product Tachyon VPN was released on App Store and Google Play successfully. Recently, Tachyon VPN has reached over 400,000 users around the world following the launch of the IPX Staking System.
IPX Staking System enables IPX holders to become Node Providers on Tachyon VPN easily through staking. Stakers earn regular staking rewards but also unlimited session rewards by offering bandwidth to global VPN users. Platform Partners experienced in node management and staking running are introduced to ensure the system function. ipxus.com launched the initial IPX staking on 4th, June and over 70% of nodes were staked within just one day.
As the first exchange Platform Partner of Tachyon(IPX), Bithumb contributes over 40% to the total IPX transaction volume. This cooperation will expand the popularity and influence of IPX in the Korean market and encourage more IPX holders to join the development of the Tachyon Network. The support from Bithumb will bring more confidence to the market. It is learned that Bithumb and Tachyon will conduct more in-depth cooperation in technology development, ecosystem construction, and digital assets management in the future.
Check the official announcement from Bithumb:
About Tachyon Protocol
Tachyon Protocol is a decentralized internet protocol that aims to create a libre, secure, and private internet for users. The Tachyon-based VPN, IoT, DeFi, Storage, CDN, DNS, and other Apps will benefit more than 900 million users. By implementing techniques from DHT, blockchain, UDP, and encryption, Tachyon is committed to building the next generation TCP/IP that can provide a self-sufficient internet environment with high security, untraceability, availability, and maximum network speed.
Since the beginning of service in January 2014, Bithumb, one of the top 10 largest cryptocurrency exchanges globally, has seen explosive growth in its daily trading volume and now ranks number one. Bithumb is a financial platform that provides exchange services for bitcoin, ether, and other various cryptocurrencies. It is also expanding its business area into payment services and international money transfer services.
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