July 22, 2024

Huobi's own blockchain launched on a test network

Cryptocurrency exchange Huobi announced the launch of its own blockchain on the test network. BasicHuobi Chain focus is decentralized finance (DeFi) services.

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The Huobi Chain utility token will be the internal token of the Huobi Token exchange (HT). His tokenomics will also undergo changes.

According to the report, Huobi Chain will alsoSupport high-performance smart contracts in various programming languages ​​and third-party sidechains. In addition, there is the possibility of interacting with other assets, including Bitcoin, Ethereum, HBTC, HUSD, etc.

Another key characteristic of the Huobi Chain is the decentralized digital identifiers for management and legal compliance on the blockchain.

Against the background of the announcement, HT at some point grewin value by 10%, trading at a peak in the region of $ 5.45. At the time of publication, the asset is trading at about $ 4.90, ranking 15th in the CoinMarketCap rating with a capitalization of $ 1.1 billion.

Huobi's own blockchain launched on a test network

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Recall that the Huobi Exchange first announced the upcoming launch of its own blockchain in the summer of 2019. In November, its source code was posted publicly.