Huobi Group, the leading blockchain asset solutions provider, announced today the launch of the Huobi Chain Project (HCP) and the Huobi Chain Superhero Championship Program (HCSCP). With this new initiative, the Company is moving toward building a next-generation self-regulating and decentralized financial platform.
The Huobi Chain Project will provide individuals and organizations with a trustworthy and auto nomous platform for value exchange, fundraising, securitization and more. While both private and public blockchains are decentralized peer-to-peer networks, the network within public blockchains is completely open so anyone can join and participate.
“We firmly believe in a decentralized future and the main goal of the Huobi Chain project is to transform a centralized corporation to a decentralized one that’s run by the community,” said Lin Li, founder, and CEO of Huobi Group. “Our dream is for Huobi to run on the public blockchain and become a truly decentralized autonomous organization.”
Huobi will kickstart the program by seeking out a global leader to lead the development of the Huobi Chain project. Divided into 10 milestones, teams from around the world can join and compete for the prize pool. New teams can join the contest at any milestone based on the open sourced code from previous milestones.
“Upon completion, all of the code will be open-sourced and we will also gradually migrate Huobi onto this new public blockchain,” Li explained. “Going forward, a percentage of Huobi’s yearly revenue will also be made available to fund the program.”
The Huobi Chain Superhero Championship will incentivize the community to participate in building the Huobi public chain from the ground up. Huobi will fund the project with an initial investment of 20 million Huobi Token (HT), which is about $100 million dollars at the current exchange rate.
Houbi Group has built the world’s largest blockchain and digital asset ecosystem. Established in 2013, Huobi’s digital asset exchange has accumulated a trading volume of US $1 trillion, and serves more than five million users in over 130 countries. Huobi’s international presence offers the growing blockchain and crypto community access to a range of resources through Huobi Capital, Huobi Labs, Huobi Global Eco Fund, Huobi Academy of Blockchain Application, Huobi Augmented Blockchain, and Huobi Mining Pool.