Huobi Chain - Public Chain to be Developed by Huobi
Huobi, the leading blockchain asset solutions provider, headquartered in Singapore, is a global digital currency trading platform and exchange with offices in Hong Kong, Japan, Korea, and the USA. Huobi’s digital asset exchange is $1 trillion and it serves over 5 million users in more than 130 countries
According to CoinMarketCap, Huobi is currently the world's third-largest crypto-exchange by trade volume, trading about $ 246 million a day at the time of writing. On June 6th, a press conference associated with the rebranding and international brand launch of the Huobi Group was held in Singapore.
Since the company is gaining popularity, they announced a corporate rebranding at the conference, which will reflect Huobi Group transiting from a Chinese brand to a world one and the shift in business from exchanges to an integrated blockchain service provider. From what has been said above, it follows that the Huobi Group released its new official website. The domain name of Huobi.pro has been upgraded from huobi.pro to huobi.com as well. If you want to join Huobi, you can create an account on their website.
The Huobi Chain Project (HCP) and the Huobi Chain Superhero Championship Program (HCSCP) were also announced at the conference. Thanks to this new initiative, the company is moving towards the creation of a next-generation self-regulating and decentralized financial platform.
Huobi will allocate 30 million Huobi Tokens to create its own blockchain Huobi Chain. As it progresses, Huobi has said that a percentage of its annual revenue will also go towards the project’s development. To launch the Huobi Chain project, money will be used from the fund, which is currently estimated at $166 million, according to CoinMarketCap. Huobi Group pledges to continue to devote additional investment to ensure that Huobi Chain will become the best Public Chain in the world.
The Huobi Chain Project will ensure a reliable financial protocol for individuals and organizations for value exchange, securitization, and fundraising. Although private and public chains are decentralized P2P networks, the network within public chains is completely open, so anyone can join and participate. In addition, a decentralized autonomous organization (DAO) will be formed on the basis of the project.
The blockchain will be used as a platform that will allow users to participate in the ICO and vote for the listing of tokens on Huobi. In the future, the company plans to transfer its services to the blockchain, thus transforming into a decentralized exchange of the digital currencies.
Huobi Token will be upgraded from a general token to a token based on the Huobi Chain. Key partners in the Huobi Ecosystem will be upgraded to become super nodes on the Huobi Chain.
To fulfill their plans, Huobi launched Huobi Chain Superhero Championship Program (HCSCP) for the Huobi Chain. The contest will be divided into several stages, with prizes to encourage developers to participate in building the Huobi public chain and choose a partner for the HCP leadership. The company will fund the project with an initial investment of 20 million Huobi Tokens, which is equivalent to about $100 million. The program will start by seeking out a global leader. The Huobi Chain Project will then be divided into 10 milestones, each with a large prize pool. Each milestone is a contest between the developers’ teams from all over the world. New teams can enter the HCSCP at any milestone due to the open-sourced code from previous milestones. Upon completion, all of the code will be open-sourced, and the winning teams will share the prize.
In general, Huobi Chain aims to establish a high level, trustworthy, next-generation, self-financed public chain. They aim to provide credible self-finance infrastructure for individuals and organizations. The public chain will allow various types of applications and smart contracts to operate on the chain seamlessly. The freedom to generate, transfer, notarize and confirmation on the public chain will be unprecedented. It is worth adding that the company's plans are really grandiose. Huobi Group aims to serve users from all over the world, and at the same time, to deploy resources locally to be close to users. An example is Huobi Australia debut. Huobi Australia has been approved by the Australian regulators for the legal implementation of the fiat-to-coin trading business. Such developments will be an integral part of the internationalization and localization of the Huobi Group.
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