HashKey Chain Mainnet Impressive Performance Metrics, Hong Kong's Crypto Framework Expands

HashKey Group launched the Ethereum layer-2 HashKey Chain mainnet on Dec. 18, following a successful testnet period. The testnet phase saw over 24.72 million transactions and registered 860,000 wallet addresses within one month.

CoinChapter: HashKey Chain L2 Mainnet Launch, HK Crypto Landscape Update

HashKey Group launched the Ethereum layer-2 HashKey Chain mainnet on Dec 18. The testnet phase saw 24.72 mln transactions and 860,000 wallet addresses in a month. During this time, 50 projects were deployed, showcasing the platform’s capabilities for decentralized applications.

The HashKey Chain mainnet uses OP-Stack and Rollup technology for faster transaction speeds and lower gas fees. This development aligns with Hong Kong’s growing focus on blockchain infrastructure and cryptocurrency regulation.

Impressive Performance Metrics For HashKey Chain Mainnet

The mainnet showed impressive performance during laboratory testing, reaching 400 transactions per second (TPS) with gas fees as low as 0.1 gwei. On launch day, the platform processed 43,300 transactions in 24 hours, achieving an average gas fee of 0.001 gwei or about 0.000000001 Ether (ETH).

Kay Lu, CEO of HashKey Chain, highlighted the importance of the technology in a statement:

“Leveraging the latest OP-Stack and Rollup technology, we have expanded network capacity to deliver a smoother user experience. This also creates a secure, efficient, and developer-friendly environment for building decentralized applications on a compliant public chain.”

In related news, Hong Kong’s legislative council held its first reading of a proposed bill to regulate stablecoins on Dec 18. If passed, this regulation will provide clear definitions and legal guidelines for stablecoin use in Hong Kong.

Moreover, the Securities Futures Commission approved four new virtual asset trading platforms: Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology. These approvals were part of 11 pending applications, reflecting Hong Kong’s push to become a blockchain and cryptocurrency center.

Community members tested the HashKey Chain testnet, with over 300,000 participants. The community’s active engagement during the test phase underscores the potential for widespread adoption of the Ethereum layer-2 HashKey Chain.

Hong Kong's commitment to blockchain technology and cryptocurrency regulation aims to position the region as a leading center for blockchain innovation.