Huobi launches Huobi Chain, its blockchain public beta – – Enterprise Times

Huobi ChainHuobi Group has launched its public testnet, Huobi Chain. This is an open-source public blockchain designed to provide a global, blockchain-based, digital asset financial infrastructure.

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.”

Ciara Sun, VP of Global Business at Huobi Group
Ciara Sun, VP of Global Business at Huobi Group

The Huobi Chain DeFi dimension

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:

  • own blockchains
  • tokenised assets
  • payments and identity verification
  • lending services
  • decentralised exchanges.

To encourage collaboration between regulatory agencies and the private financial sector, Huobi Chain is adopting a flexible governance model. Based on a variation of the Delegated Proof-of-Stake (DPoS) consensus algorithm, the design enables Huobi