Blockchain
Huobi Launches Its Own Blockchain In Public Beta
Huobi Group today announced the public testnet launch of Huobi Chain, an open-source public blockchain designed for providing a global, blockchain-based, digital asset financial infrastructure. The high-performance decentralized finance (DeFi) chain is now live for beta testing. Created in partnership with technical development partner Nervos, Huobi Chain provides a regulator-friendly blockchain framework for financial organizations to deploy DeFi services and applications, including their own blockchains, tokenized assets, payments and identity verification, lending services, decentralized exchanges, and more.
“DeFi has become one of the most promising applications of blockchain technology but its future requires both sides—regulators and enterprises—to work together to establish the standards and guidelines of the new decentralized economy,” said Ciara Sun, VP of Global Business at Huobi Group. “With Huobi Chain, we want to provide the decentralized framework that facilitates industry-wide collaboration, which is critical to the widespread adoption of DeFi.”
Regulator-Friendly Network
To encourage increased collaboration between regulatory agencies and the private financial sector, Huobi Chain adopts a flexible governance model based on a variation of the Delegated Proof-of-Stake (DPoS) consensus algorithm. This flexible design enables Huobi Chain to support both regulators and enterprises on the blockchain through unique features like regulatory nodes, which allow regulators to contribute to the network as validators.
Industry-standard identity protocols like Know Your Customer (KYC) verification ensures the network meets Anti-Money Laundering (AML) requirements. Huobi Chain also utilizes a Decentralized Identifier (DID) system to provide verifiable, decentralized digital identities on its network, making cross-border compliance and regulation more easily achievable at scale.
Finance-Specific Framework
Huobi Chain was purpose-built for the financial services industry and is fully open-source to provide the flexibility needed for open financial markets. Its customizable DeFi service protocol allows users and third-party developers to custom-build financial applications to their specific needs and use cases.
Huobi Chain’s high-performance architecture is designed to support high-volume transactions critical to the financial services industry. Features like cross-chain interoperability, multi-asset support, smart contract capabilities, and multi-and-sidechain architectures also provide banks and financial institutions with a highly flexible, globally scalable framework.
The chain’s proprietary asset management capabilities will provide support for a wide variety of on-chain and cross-chain asset management services across popular digital assets like BTC and ETH, as well as Huobi-launched assets like HT, HBTC, and HUSD.
Blockchain Innovation
As the world’s first public blockchain with on-chain governance and regulatory framework, Huobi Chain offers innovative features that push the boundaries of blockchain.
Developed to be interoperable with a wide variety of centralized and decentralized networks, Huobi Chain supports user-deployed smart contracts, third-party side-chains, and multiple languages. The testnet currently supports smart contracts written with C programming language but Huobi Chain will provide future support for other programming languages to further expand ecosystem development.
For further details about Huobi Chain’s features, visit
https://huobiglobal.zendesk.com/hc/en-us/articles/900000258383
Continual Network Updates
Leading up to the network’s mainnet launch later this year, Huobi will continue leveraging its domain expertise in blockchain and financial technology to explore new opportunities to bolster the financial market infrastructure of Huobi Chain. Current priorities include expanding support for third-party developers and various asset classes, including traditional assets, as well as developing a more robust on-chain framework for compliance and regulation.
Huobi Token (HT), the native ecosystem token of digital asset exchange Huobi Global, will become Huobi Chain’s sole utility token. With a strong community base and brand recognition, HT will play a critical role in Huobi Chain’s ecosystem. HT recently hit new market highs as Huobi expands the token’s utility for the broader blockchain community.
Sun added, “By providing the infrastructure to make financial services more transparent, inclusive, and efficient, we want to help create a more equitable economy where wealth is accessible to all.”
SOURCE Huobi Group
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Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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