CoinMarketCap, Animoca Join Huobi’s Public Blockchain as Validators

CoinMarketCap, Animoca Join Huobi’s Public Blockchain as Validators

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).
  • Source