An open-source project is a bockchain that is easily accessible to developers at any time. Here any developer around the world can use the code and access the Github to create his own tokenized project within the open-source project.
Huobi chain, which is a very high performance blockchain has gone open source. This was made possible through her partnership with Nervos. What this means is that through this partnership, the Huobi chain is now open to the entire developer community.
This follows that Blockchain developers, partners, enterprises, and regulators can at any time access the code on Github, track the project’s progress, and openly contribute to the development of Huobi Chain.
The Huobi chain, as the first regulator-friendly blockchain, has the aim of enabling enterprises, financial institutions, and exchanges to deploy their own blockchains, tokenized assets, and decentralized financial (DeFi) services.
First announced in July, 2019, Huobi chain is a joint project between Huobi global and Nervos. Nervos is a technical partner and her team has contributed immensely to top blockchain projects around the world, example ImToken, Sparkpool and Ethereum.
More Ideas on The Open Source
The development of the Huobi Chain has been on the way with more features being added, though the open source has already been kick started with the code made available.
According to Leon Li, founder and CEO of Huobi Group:
Since the start of this project, our goal was to create an inclusive ecosystem where all stakeholders from developers to regulators can collaborate and leverage the full potential of blockchain technology.
Li added that:
In sticking to that vision, we’re now opening the code and inviting the greater blockchain community to help us shape and build the future of decentralized finance.
The architect of the Huobi chain infrastructure is Nervos. They decentralized infrastructure is based on deep customization of open-source components such as Muta, CKB-VM, Overlord, and nervos-p2p.
According to a press release by the Huobi chain group;
Once completed, Huobi’s high-performance public blockchain will be optimized for a wide range of financial services and applications, including lending services, debit services, stablecoins, security token offerings (STOs), decentralized exchanges (DEXs), real-world payment services, and more. Huobi Chain will also offer multi-asset support, smart contract capabilities, and multi-and-sidechain architectures to provide enterprises with a highly flexible and scalable framework.
Speaking on the project, from the Nervos group, Kevin Wang, co-founder of Nervos has this to say:
Innovation is not possible without collaboration, which is why Nervos operates on open-source principles. Decentralized finance is an emerging field with massive untapped opportunity, so the participation from the developer community will play a crucial role in not only pushing Huobi Chain forward but also the entire industry.
A close look of the regulatory framework of the Huobi chain project shows that the key differentiator of this project from others is the regulator-friendly approach.
Huobi chain remains the first financial open chain project that offers the public the opportunity to contribute as validators.
More about this project can be found here.
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