Huobi's Eco Chain (HECO) has expanded its validator network by onboarding eleven blockchain and DeFi projects, including Animoca Brands, CoinMarketCap, Lightnet, CoinWind, Allnodes, Hashed, Coin98, Alphanonce, Signum Capital, and Legend. This move aims to enhance HECO's stability and decentralization, with nodes playing a crucial role in the network's long-term success.
Huobi Extends Validator Network, Bolstering Stability and Decentralization of Public Blockchain
Zug, Switzerland - July 7, 2021 - In a significant move to enhance the stability and decentralization of its public blockchain, Huobi Eco Chain (HECO) has enlisted a formidable roster of validators to its network.
Eleven reputable blockchain and decentralized finance (DeFi) projects have pledged to operate validating nodes for HECO's mainnet, according to a press release issued on Wednesday. These include industry stalwarts such as:
- Animoca Brands, a leading investor in blockchain games
- CoinMarketCap, a trusted source for cryptocurrency market data
- DeFi projects Lightnet and CoinWind
- Allnodes, a staking-as-a-service platform
- Hashed, a blockchain investment firm
- Coin98, a multi-chain wallet
- Alphanonce, a trading firm
- Signum Capital and Legend
Validators play a critical role in ensuring the integrity and security of a blockchain network. They are responsible for verifying transactions, adding new blocks to the chain, and resolving consensus conflicts. By distributing these responsibilities across a geographically dispersed network of nodes, blockchain networks enhance their resistance to malicious attacks and system failures.
"Nodes play a crucial role in the long-term success of a public blockchain network," said HECO Chief Leo Su. "By adding these highly respected projects as validators, we are strengthening the foundation of HECO and providing our users with increased confidence in the platform's resilience and reliability."
Launched in December 2020, three months after Binance's Smart Chain (BSC), HECO has rapidly gained traction within the blockchain ecosystem. Over 200 projects have deployed on the chain to date, with over $6 billion in total value locked, according to publicly available data.
HECO boasts the ability to process over 500 transactions per second, with fees averaging around $0.001, significantly lower than competing networks. The chain utilizes the native Huobi Token (HT) as its primary currency for transaction fees and network rewards.
The addition of these new validators signals Huobi's continued commitment to building a robust and decentralized blockchain ecosystem. By partnering with industry leaders and fostering a collaborative environment, HECO aims to drive innovation and adoption of blockchain technology across a wide range of sectors.
