Most Popular Public Chain of the Year: Does the Huobi ECO Chain Live up to its Reputation?
On January 21, 2021, Huobi ECO Chain (Heco) was awarded the ‘Most Popular Public Chain of the Year’ at the first PARTY (PANews’ Retrospect of The Year) gala held by PANews.
Within only one month since the mainnet of Huobi ECO Chain went online, the total amount of mainstream assets locked on the chain has already exceeded $800 million. It has a cumulative transaction volume of over $12 million, over 1.7 million active addresses with non-zero balances, and over 50 DAPPs deployed on the chain. In addition to the official locked accounts, the top-ranking HT account on the chain has 33.7 million HTs. According to the data, there is little doubt that the Huobi Ecosystem has the highest amount of locked mainstream assets, the largest number of active users, and the fastest development speed among all public chains. The reason why it has attracted so much attention is partly due to the huge traffic of Huobi itself, On the other hand, it can also be attributed to Huobi’s own advantages such as low transaction fees and high transaction throughput.
According to the information publicly available on the Huobi official website, Huobi ECO Chain (Heco) is the first product launched by the Huobi Open Platform. It will proceed in four stages: Tinder, Spark, Flame, and Blaze. As a decentralized, highly-efficient public chain that supports high transaction throughput, Heco is compatible with smart contracts. It uses HT as the native digital asset. It also adopts the HPoS consensus mechanism to meet the demands of project developers and users. On December 21, Heco mainnet was officially launched to begin the Tinder phase. At present, Heco is connected to the Huobi wallet. It has successfully achieved TPS500+ and shortened the block time to 3 seconds. It also becomes a high-performance public chain that supports meta-transaction, seamless connection to Ethereum smart contracts, as well as support for cross-chain mapping of ETH and BTC assets.
At present, the Huobi Eco-chain is at the Tinder stage. It will focus on improving the on-chain infrastructures, including but not limited to: blockchain oracle, voting tool, pegged stablecoin, DEX, loan, financing tool, insurance, synthetic assets, cross-chain solutions, data analysis, and smart contract innovation. To improve these infrastructures, the participation of third party blockchain projects is necessary. The quality of the participating blockchain projects will directly determine the quality of the technical facilities of the Huobi Ecosystem. This in turn will have a significant impact on the long-term development of the public chain. Therefore, the Huobi eco-chain is searching for more high-quality projects to join the Heco public chain so as to improve its own infrastructure ecosystem through Huobi’s own advantageous resources, technology, and traffic.
Analyzing the official information, we can summarize that in order to attract high-quality projects, the Huobi Eco-chain has shown 100% sincerity by providing very attractive policies for both blockchain projects and users. For project developers, Huobi Eco-chain is devoted to discover and support eminent developers and innovative projects in their early stages. Huobi has allocated special fundings to invest, support, and motivate prominent developers. Those out-standing projects will get better access to Huobi traffic and quality resources of a top-notch exchange. They can also participate in Huobi Ecosystem’s global roadshow for free. For users, the Huobi Eco-chain lowered the entry barrier to DAPPs on the chain. Users can enjoy the protection from the HPoS consensus mechanism and efficiency from a block time as fast as 3 seconds. The transaction fees and gas fees are also reduced. All these measures will improve user experience.
DMEX is a decentralized mining power financial service platform. It combined the most popular DeFi, NFT, and ABS instruments in one platform to deliver a strong addition to the Huobi Eco chain. DMEX users can enjoy lower entry barrier and better user experience because DMEX has low fees, high transaction performance, smooth cross-chain asset movement, and efficient linking of users. It is believed that the Huobi Eco-chain will continue to attract more high-quality projects to join Heco and bring prosperity to the blockchain industry.