Huobi releases white paper for its custom built public blockchain

Bitcoin and cryptocurrency company Huobi Group has released the English language white paper for Huobi Chain, its first public blockchain.

“This is just one more way that Huobi is seeking to improve the global digital asset and blockchain community,” said Livio Weng, CEO of Huobi Global. “Once launched, Huobi Chain will offer users a variety of benefits, including security, transparency, fast, scalability, and smart contract capability.”

Now under construction by Huobi’s project team as well as industry experts, Huobi Chain is expected to make significant progress in 2019.

Utilizing BFT-DPoS (Byzantine Fault Tolerance — Delegated Proof of Stake) as its consensus mechanism, Huobi Chain will feature:

• Safety first architecture: Huobi Chain will be built from the ground up to ensure security and safety. Strict security audits and testing will be conducted to ensure this.
• Efficient dual chain functionality: Huobi Chain will be designed to accommodate high speed, high-frequency transactions and will support complex applications like business and financial contracts.
• Effective governance: with both on-chain and off-chain elements.