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
Blockchain
$FAR Token ranks first on Bybit exchange and soars to 44%following staking program launch: Coingecko
Farcana — United Arab Emirates based Bitcoin shooter game, has announced that its $FAR token is now ranked first on Bybit exchange. This development comes after the launch of its staking program, which offers users a 60% annual percentage rate (APR) on their $FAR tokens.
The staking program requires users to utilize the Polygon network for staking their announcement. Following the announcement, $FAR token soared to 44% according to Coingecko.
Founded in 2022, Farcana recently raised $10 million in seed funding from Animoca Brands, Polygon Ventures, Fenbushi Capital, and Merit Circle among others. It is built on Unreal Engine 5 and Farcana shares a similar graphical style with Overwatch, a team-based multiplayer first-person shooter game by Blizzard Entertainment. The game is understood to operate under a free-to-play model.
The post $FAR Token ranks first on Bybit exchange and soars to 44%following staking program launch: Coingecko appeared first on HIPTHER Alerts.
A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
The post Binance warns of crypto market risks from overvaluation, centralization appeared first on HIPTHER Alerts.
-
Blockchain Press Releases5 days agoMatrixport Expands Footprint in Europe with Acquisition of Swiss-based Crypto Finance Asset Management
-
Blockchain3 days agoHow MiCA is Paving the Way for a Safer and More Transparent Crypto Industry Protecting Investors and Innovators
-
Blockchain Press Releases5 days ago
Cyrus Watches and Patoro Partner with MetaMinds for Immersive Augmented Reality Experience at Luxury Innovation Summit
-
Blockchain3 days ago
Humanity Protocol’s Testnet Launch Attracts 25,000 Users to Join the Digital Identity Revolution in the First 24 Hours
-
Blockchain6 days agoDiscover the AI2 (Flourishing AI) Listing on XT Exchange
-
Blockchain Press Releases3 days ago
Compass Mining Energizes New Facility in Nebraska with 2,400 Bitcoin Miners
-
Blockchain Press Releases3 days agoBybit Web3 Announces Upcoming IDO for ZAP, the Community-driven Distribution Platform on Base
-
Blockchain Press Releases1 day agoDriving Sustainable Digital Asset Mining: Kazakhstan’s AQGroup and Singapore’s MVGX Group Lead the Charge to Decarbonize Web 3.0
