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Huobi ECO Chain (HECO) price, marketcap, chart, and fundamentals info
Huobi HECO Chain (HECO) is a decentralized public chain, characterized by high efficiency and energy efficiency. This technology product is compatible with Smart Contracts on the basis of supporting high-performance transactions.
In other words, HECO Chain is the first product of the Huobi open platform, a unified infrastructure based on technical resources, traffic resources and resources from the Huobi Global Group’s ecosystem. Huobi wants to adopt the HECO chain to provide more diverse innovation methods and basic services to global developers.
Huobi Open Platform at a Glance
Huobi Open Platform is a unified infrastructure based on technology, user traffic and the entire Huobi ecosystem, created with the goal of providing a diverse ecosystem for developers around the world. . In December 2020, Huobi Open Platform’s first product, Huobi ECO Chain (Heco), is currently in its first stage as “Tinder”, focusing on improving on-chain infrastructure. including: Oracle, Voting tool, Anchor Coin, DEX, Lending, Financial Management, Insurance, Synthetic Assets, Cross-Chain solutions, Data Analysis,…. Besides, Huobi Open Platform will also have DEX – decentralized exchange along with Layer 2 projects.
Huobi Global’s vision for the HECO Chain project
For the vision of a large exchange like Huobi Global, HECO Chain is not just a blockchain, but HECO also aims to centralize and support potential projects that will develop on HECO. Based on the world’s largest available trading ecosystem of Huobi Global, HECO is expected to become a cherished place for technology projects as well as breakthrough projects, and perfecting an ecosystem for public development. technology, application and transaction.
Basic information about Huobi ECO Chain
HECO was launched on December 21, 2020 by Huobi Group. This is a public Blockchain on DeFi platform, helping Ethereum developers to easily initiate Smart Contracts. HECO Chain will have several important advantages such as cost saving, good cross system.
Some related information:
- Technical support: [email protected]
- Official Website: www.hecochain.com
- Beta address: https://http-testnet.hecochain.com
- Browser: https://scan-testnet.hecochain.com
- Faucet address: https://scan-testnet.hecochain.com/faUCET
Features of Huobi ECO Chain (HECO)
- Transaction Per Second (TPS): 500+.
- Average time per block (block generation): 3s.
- HPoS consensus mechanism: Characterized by transaction fees, low delay and high speed.
- Highest number of validators: 21.
- HT is a token of Heco, transaction fees will be paid by HT.
- At the same time, to be a validator, the miner also needs an amount of HT. The reward for the validator is the gas fee, which is divided according to the miner’s HT mortgage rate.
Assets such as ETH, BTC and Stablecoin can use the bridge to transfer into HECO. The concrete way is to lock this asset on its chain, then create the corresponding number of assets on HECO’s side. At the same time, the project also encourages developers to provide a number of other decentralized cross-chain solutions.
Allow users to reduce gas fees and HECO will pay for this discount. The meta-transaction function allows to reduce the cost of money transfer of developers, as well as reduce fees for DApp users.
Technical specifications Heco
- An open and decentralized network that maintains the security of its assets and also of the network.
- Support EVM programmability, compatibility of smart contracts to reduce development or migration costs.
- Supports cross-chain asset transfers to optimize user experience.
- Meta-transaction: reduce gas fees, effectively reduce costs of developers and users.
Highlights Huobi ECO Chain
- Global ecosystem
- There are rewards for extra Tokens
- Operate under the control of OTC legal service
- Trading ecosystem
Ability to recover benefits
- Community service provider
- Works like a mining machine of top brands
- In the top 10 mining groups
- Popular on more than 30 media platforms in the cryptocurrency sector
- Transaction fee discount
Users can use HT to buy different levels of VIP status on the Huobi exchange. These statuses are active when users sign up and pay a monthly fee. The highest percentage in discount is up to 50%.
Repurchase of liquidity
Huobi HECO Chain may from time to time use the revenue from transaction fees to buy Tokens.The purpose of this is to increase the liquidity in the transaction and the price of the Tokens, while minimizing speculation. In addition, the token redemption will add to Huobi’s user protection fund, to combat fraud, manipulation and compensation in case of emergency.
4 main stages of HECO CHAIN
- High transaction performance
- Low transaction costs
- Meta transaction allowance
The above is very beneficial for developers who want to participate in low-threshold dApp development.
Time: Q4 2020 – Q1 2021.
Includes stages with the following specification:
- Public Beta: Better performance, low transaction fees, meta transaction subsidy.
- Node Election: More decentralized and secure, fulfilling mainstream assets, underlying tools in place.
- Ecosystem Incubation: Systematization of service engineering, custom basic tools, more convenient asset conversion.
- Perfect developer tools
- Ecological chain infrastructure boom
Time: Q3 2021.
- Cross-chain interaction protocol
- Integrated cross chain interoperability
- Consensus protocol upgrade
- Use Layer 2
Time: Q2 2022.
- Supports multiple Virtual Machines
- Privacy protection
- Expand your memory
- Sharp, multi-dimensional schema
- Supports many traditional business types on Blockchain
Time: Q1 2023.
HECO development support plan
HECO will create a fund to support, as well as to encourage, potential developers. In addition, the project also organizes competitions and activities for developers. Meta transaction will reduce gas fees of users holding HT.
Support to provide traffic
Provide traffic for high quality Dapps on HECO.
After a completely successful run on HECO, high-quality projects can submit an application to list tokens on Huobi Global and there is a very high chance of being listed on Huobi Global if they meet Huobi standards.
Projects or project developers that receive investment and support from HECO not only have the opportunity to receive support, but can also sign up for marketing packages and promote the project globally.
High-quality projects can join HECO’s global roadshows for free.
Huobi will open up ecological resources to potential developers, in accordance with mutually beneficial collaboration between developers and partners in the Huobi ecosystem.
HECO Chain is owned by Huobi Group, founded by Leon Li. This is known as the largest cryptocurrency exchange in China. Currently, the group has branches in Hong Kong, Korea, Japan and the United States.
Investor and Partner
Currently, two investors of Huobi are Node Capital and Zhenfund. In addition, Huobi is currently conducting 7 investments in Blockfolio, Bytex.io, OpenFinance Network, TokenPocket, Covalent, algoreg, haoshouyi.com.
Frequently asked questions
Is Huobi ECO Chain (HECO) reliable?
According to the November 2020 activity report, Huobi Global has sold 6.31 million HT, the total number of HT in circulation is 267,605,300, the monthly growth of users is 3.97%. In addition, as of December 14, 2020, Huobi Global has launched 8 coins and 10 DeFi mining liquidity, locking a total of 79 million HT, distributing USDT with a value of 7 million USD for traders. On the other hand, Huobi.pro is also one of the world’s famous cryptocurrency exchanges.
Through the above numbers, Huobi ECO Chain will be a very desirable blockchain in the near future.
In a nutshell, Huobi ECO Chain, also known as HECO, helps users experience the same features of Blockchain, but this system adds a few other advantages such as high performance, low transaction fees and chain. good cross.
Above is information about Huobi ECO Chain, an interesting factor in the cryptocurrency and financial markets today. Hopefully the information that CHK has just sent will be somewhat useful to readers.
The content in this article is not considered an investment advice, you should learn fully and fully equip yourself with knowledge of finance and Crypto to be able to make decisions and choices. most correct. Good luck!
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