Huobi Chain Blockchain Completes Planned Open Source Developer Rollout

Published at: Nov. 12, 2019

Cryptocurrency exchange Huobi has open-sourced the development of its Huobi Chain blockchain, the company has confirmed.

In a press release shared with Cointelegraph on Nov. 12, Huobi said that Huobi Chain, which it unveiled in June, was now available to any GitHub developer.

Huobi encourages regulator involvement

The aim, it explains, is further interaction between developers and regulators, Huobi Chain’s target audience.

“Since the start of this project, our goal was to create an inclusive ecosystem where all stakeholders from developers to regulators can collaborate and leverage the full potential of blockchain technology,” Leon Li, founder and CEO of Huobi Group, commented in the press release. Li added:

“In sticking to that vision, we’re now opening the code and inviting the greater blockchain community to help us shape and build the future of decentralized finance.”

Huobi Chain aims to provide a suitable incubator environment for various blockchain projects, including stablecoins, decentralized applications, or DApps, and decentralized exchanges, or DEXs.

The platform remains in the planning stages, with a testnet launch due in Q1 2020 and the mainnet the following quarter.

Chinese blockchain sentiment is at a high

As Cointelegraph previously reported, the Chinese blockchain space has seen new energy in recent weeks after a sudden endorsement of the technology by Beijing.

After President Xi Jinping urged for the acceleration of blockchain tech development last month, Chinese cryptocurrency tokens began climbing, while other businesses publicly spoke of confidence in the space going forward.

Blockchain application platform VeChain unveiled its latest product at a Chinese conference last week. 

“VeChain, being a global blockchain technology platform provider with significant resources in China and Europe will be a direct beneficiary of this bullish shift by the second largest economy in the world,” the company said in a post at the time.

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