On October 22, Bitcoin rose to $63,000, breaking through a record high once again and causing market excitement. On the same day, Hoo officially released a message saying that there was a large influx of users. In order to further bring users a smoother product experience and ensure the safety of assets, the system upgrade maintenance of the coin trading area is planned to be completed during 01:00 on October 22, 2021 – 09:00 on October 22, 2021 (UTC+8).

For this upgrade, Hoo was officially delayed four times until 18:00 (UTC+8) on October 22nd, when the Hoo system was restored to normal. During this period, the Hoo community reacted fiercely questioning why the upgrade was delayed so many times. What did Hoo upgrade during the 18-hour?

Self-developed Nasdaq-level aggregation system

According to relevant sources close to Hoo, the upgrade of Hoo  this time was mainly to put on line a set of Hoo team self-researched aggregation systems for about half a year. Therefore, the requirements are higher in terms of time and technology.

A normal trade aggregation system consists of the following several components. The first is the user. The user entrusts the quotation and quantity, generates an order, and sends it to the trading platform; second is the gateway, which is responsible for collecting user orders and dispatching them to the aggregation engine; The third is the aggregation engine, the core part of the trading system, which is used to receive orders and implement the orders according to business logic, the aggregation of transactions while generating transaction records and subsequently giving users feedback on the results of their transactions; Fourth is the quotation engine, receiving processing results from the aggregated trading engine, persisting the aggregated trading data to the database, while generating multi-time period K-line data (opening price, closing price, trading volume, highest price, lowest price) at regular intervals; There is also a database to store the orders and transaction records during the transaction and to achieve data persistence.

The current upgrade of Hoo is a system upgrade of the above factors that affect aggregation, the whole system is better matched with the current trading volume situation of Hoo, which can better meet the needs of users.

After this upgrade, Hoo has achieved a comprehensive upgrade on its products. Currently, Hoo’s aggregation system has been upgraded to the NASDAQ level, with TPS up to 20,000 per second.

From the community user response, there are two aspects that users feel the most about the Hoo product upgrade. On the one hand, it is in the product display, the adjustment is more in line with the user’s habits. For example, a careful user prompts the author to open the homepage of the Hoo APP, you can see that Hoo Labs, which was relatively hidden but commonly used, can now be seen directly on the product home page, it will be easier to find the entrance to participate in the Hoo IEO project later on. 

On the other hand, the transaction is smoother and more stable in terms of product experience, and users can have a different experience in trading with Hoo.

A large influx of new users pushes back the system upgrade

In addition to major upgrades on the product side, Hoo has been making a lot of moves in ecological improvement and marketing recently. According to public information, Hoo has made a series of moves around globalization layout and Hoo ecological optimization in the past 10 days.

On October 13, the Hoo Global platform will add HOO as a pledged asset in the Hoo Collateral Loan, users holding HOO can be used as a Collateral Loan deposit with a pledge rate of 55%, currently, the Hoo Collateral Loan business has supported 16 kinds of lendable assets.

On October 15 Hoo Smart Chain (HSC) released a white paper on HOO ecology, detailing the supply and circulation data, functional roles, economic model, ecology, and value system of the chain’s native token HOO on HSC.

From October 17th to 20th, Hoo participated in the “Future Blockchain Summit 2021” held by the Dubai World Trade Center. Executive Chairman Mr.Farzam delivered a speech at the opening meeting. Hoo’s strategy to build a global operations center in Dubai became the focus of media attention, Gulf news and other Middle East media have reported on Rexy W, the founder of Hoo.

According to the relevant person in charge of Hoo, the ecological improvement is to create more opportunities for users to realize asset increment in the Hoo ecology, the system upgrade and maintenance on the product side is to create a good user experience. The multiple delays in this system upgrade were due to the recent influx of users, to make users’ assets safer and the trading interface smoother, etc., Hoo has accelerated the upgrading and updating of its products. 

With the development of the global market and the comprehensive upgrade of the product, the price of the platform token HOO also continues to be concerned by the global high-quality investors, HOO’s price rose from a low of $0.74 to a high of $0.82 in the last week, an increase of 10.8%.

(Image from coingecko)

 summarize

After this upgrade, the assets will be more secure and the users will have a better experience. With product upgrades and market expansion going hand in hand, Hoo is achieving continuous improvement and breakthroughs in all aspects, presenting a brand new encrypted asset service platform.

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