CoinMarketCap, Animoca Join Huobi's Public Blockchain as Validators

HECO is Huobi's answer to Binance's Smart Chain, having launched three months after BSC went live in September 2020.

Jul 7, 2021 at 4:06 a.m. UTC
Updated Sep 14, 2021 at 1:21 p.m. UTC

Cryptocurrency exchange Huobi's Eco Chain (HECO) has added a bevy of new validators to its network in a bid to improve stability and decentralization.

  • Eleven blockchain and decentralized finance (DeFi) projects have elected to run validating nodes for HECO's mainnet, according to a press release on Wednesday.
  • Animoca Brands and CoinMarketCap have elected to sign on as validators as have DeFi projects Lightnet and CoinWind.
  • Staking-as-a-service platform Allnodes, blockchain firm Hashed, multi-chain wallet Coin98, trading firm Alphanonce, Signum Capital and Legend also signed on.
  • Nodes are electronic devices operating software. They are distributed across a particular network, performing a number of tasks including communicating and transferring information about transactions and new blocks.
  • "Nodes play a crucial role in the long-term success of a public blockchain network," said HECO's chief, Leo Su.
  • HECO is Huobi's answer to Binance's Smart Chain (BSC), having launched three months after BSC went live.
  • Since the chain’s mainnet launch in December 2020, over 200 projects have deployed on HECO with $6 billion in total value locked, according to public data.
  • Huobi's chain currently touts the ability to process over 500 transactions per second with fees averaging around $0.001, and utilizes the native Huobi Token (HT).

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.