Huobi Group Launches the Huobi Chain Project

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 decentralised financial platform.

The Huobi Chain Project will provide individuals and organisations with a trustworthy and autonomous platform for value exchange, fundraising, securitisation and more. While both private and public blockchains are decentralised peer-to-peer networks, the network within public blockchains is completely open so anyone can join and participate.

“We firmly believe in a decentralised future and the main goal of the Huobi Chain project is to transform a centralised corporation to a decentralised 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 decentralised autonomous organisation.”

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 incentivise 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 Tokens (HT), which is about $80 million dollars at the current exchange rate.

Gordon Chen, Investment Director of Huobi Group, will be in London on 21 June 2018 and Amsterdam on 26 June 2018 to present the Huobi Chain Project to the local blockchain communities in Huobi’s European Quant Trade Summit 2018. Register for the event www.huobisummit.com.