Huobi Announces Early Access to Huobi ECO Chain, an Ethereum-compatible Public Chain for Blockchain Developers

LONDON, UK — DECEMBER 10, 2020 — Huobi Group today announced a limited rollout of Huobi ECO Chain (Heco), an EVM-compatible public chain that provides blockchain developers with an efficient and low-cost on-chain environment for decentralized applications (dApps), smart contracts, and digital assets. Starting today, developers will have early access to Heco’s test environment to build and experiment on the chain ahead of its upcoming public testnet launch on December 21st.

Heco is the first product launched on Huobi Open Platform, a unified blockchain infrastructure platform independently developed by Huobi’s technical team. As a fully decentralized, high-efficiency chain, Heco was purpose-designed to support high-performance transactions and provide smart contract compatibility, enabling high throughput, low latency, security, and stability.

“By introducing our own technical blockchain infrastructure, we want to bring together technology partners and developer communities to further drive and promote blockchain development globally,” said Ciara Sun, Vice President, Global Business at Huobi Group. “With Huobi Open platform and Heco, we’re leveraging our technical resources and global reach to make blockchain services cheaper, more efficient, and much more scalable.”

In addition to lowering development and maintenance costs for developers, Heco links users, assets, and dApps in an open and decentralized network that supports EVM programmability and smart contract compatibility. Heco utilizes the Hybrid Proof of Stake (HPOS) consensus mechanism to secure assets and on-chain transitions. Heco uses Huobi Token (HT) as its native asset, giving users immediate access to liquidity and token utility as part of Huobi’s growing ecosystem. In the future, Heco will integrate with Ethereum as a Layer 2 solution to bring greater efficiency to the Ethereum network.

Access to the Heco test environment will be available through December 20th, at which point there will be a server wipe to reset for the official public testnet launch, featuring higher transaction performance, lower handling fees, and seamless cross-chain asset transactions.

For more information about Heco, please visit www.hecochain.com.

Huobi Group is the world's leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by liquidity and real-trading volume. Trusted by users in over 170 countries, the Huobi platform is dedicated to improving the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including trading and finance, cryptocurrency finance infrastructure solutions, education, data and research, social welfare, investment and incubation, and many more. For more information, visit blog.hbg.com/