CoinMarketCap, Animoca Join Huobi’s Public Blockchain as Validators
7 Jul, 2021•2 min read•Blockchain
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, per the release. The project has since built up a viable DeFi ecosystem, along with wallets, assets, and applications rankings. 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).