On Saturday Huobi cryptocurrency exchange announced the launch of a test network of its Huobi blockchain. According to the announcement, Huobi Chain has been in development for about a year and is focused on the financial sector.
The key characteristics of Huobi Chain are:
- Decentralized digital identifiers for management and legal compliance on the blockchain;
- Creation of individual services in the field of decentralized finance (DeFi) with the ultimate goal of creating a public financial market;
- The ability to interact with a variety of assets, including Bitcoin, Huobi Token, HUSD, Ethereum, HBTC, etc .;
- High-performance smart contracts in many programming languages;
- Support for third-party sidechains.
“To fulfill the technological requirements of the exact next generation public DeFi-chain, every elements of the blockchain structure (consensus protocol, cross-chain protocol, virtual machine, asset management, smart contract compiler, message signing, module, etc.) were independently developed from scratch” – the company writes. were independently developed from scratch” – the company writes.
HT’s own token will become the Huobi Chain blockchain utility token. Following the launch of the core network, Huobi announces HT-related events, including requirements for becoming a supernode. In addition, the tokenomics of HT will be changed. More information about this will be disclosed in a separate announcement.
HT price (against the backdrop of today’s announcement) raised by 10%, despite the generally negative dynamics of the crypto market, and entered the 13th in the list of its largest assets.