A Hong Kong-headquartered digital asset services provider, HashKey Group, disclosed the upcoming launch of its Ethereum Layer-2 network HashKey Chain on Tuesday at the 2024 Hong Kong Web3 Festival.
HashKey Chain uses zero knowledge-proof technology, aims to grow HashKey’s Web3 ecosystem by providing users with affordable, effective, and developer-friendly on-chain services. Within the next six months, HashKey plans to launch a testnet and its mainnet launch in less than a year.
HashKey Chain will collaborate with incubators, entrepreneurship camps, VCs, and think tanks, such as Future3 Campus, ThreeDAO, and HashKey Capital to provide co-builders with all-around incentives including technical development, product strategy, resource integration, and financing.
According to the company, the chain can achieve greater scalability and cost efficiency with zero knowledge-proof technology, which comes with an extensive developer toolset and an easy-to-use blockchain browser.
The company went on to say that security will always come first, and plans call for community involvement in security testing as well as independent code audits. As per the press release, the network’s objective is to furnish developers with a secure and self-regulating atmosphere, supported by HSK, the platform token of HashKey.
HashKey expects wide range of on-chain services, such as trading, investment, and application deployment, among others. HashKey Chain will drive an influx of users and assets into the Web3 ecosystem, allowing more people to witness Web3’s transformative power.
HashKey Cloud, a web3 infrastructure provider and a division of the HashKey Group, will power HashKey Chain. Since 2018, the company has offered node validation services to more than 80 public chains.
After obtaining the necessary license in Bermuda, HashKey launched a new cryptocurrency exchange on Monday under the name HashKey Global. After closing a Series A funding round in January that raised almost $100 million, it is preparing for another round of funding later this year.
Also Read: HashKey OTC Secures Singapore Approval for MPI License
