Huobi ECO Chain – Heco

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Introduction to the Huobi Open Platform

The Huobi Open Platform is a unified infrastructure platform based on the technical, traffic and ecological resources of the Huobi Group, and will be gradually open to the blockchain industry. It will make the construction of decentralized applications more efficient and cost-effective, and provide comprehensive empowerment in aspects of promotion, traffic, and resources. In December 2020, the first product of the Huobi Open Platform, the Huobi ECO Chain, also known as Heco, officially launched its “Tinder” phase. In addition, Huobi Open Platform will launch DEX and other blockchain infrastructures based on Layer 2. The Huobi Open Platform will provide global developers with series of diverse innovative facilities and services.

Introduction to Huobi ECO Chain

Huobi ECO Chain (Heco) is a decentralized, high-efficiency and energy-saving public chain, also the first product launched by the Huobi Open Platform. It is compatible with smart contracts and supports high-performance transactions. The endogenous token of Heco is HT and it adopts the HPoS consensus mechanism. Heco will continue to improve the efficiency of Ethereum by Layer2, which will supplement and empower the Ethereum ecosystem.

Declaration

To help developers’ evolvement at every stage

Vision

Technological innovation is the driving force behind the advancement of the blockchain industry, but many innovative projects have been misunderstood and ignored at their early stages. We have witnessed the growth process of great projects. Recalling that Ethereum and Polkadot were questioned as altcoins in the early days, they all went through difficult times. Therefore, Heco’s mission is not only a public chain, but also to focus on the discovery and support of high-potential developers and innovative projects. Relying on the world’s largest trading ecosystem, Heco is committed to becoming the birthplace of innovative technologies and innovative businesses, and building a complete ecological loop of technology development, application promotion, and trading.

Heco’s Performance

  • TPS: 500+
  • Average block interval: 3s

Consensus Mechanism

HPoS consensus mechanism: it has the characteristics of low transaction cost, low transaction delay, and high transaction concurrency.

The maximum number of validators supported is 21.

Economic Model

The endogenous token on the chain is HT; the transactions consume HT as gas fee.

Miners pledge HT to become validator nodes. The reward of nodes is gas fee, which is distributed according to the mortgage proportion.

Cross-Chain

Assets such as BTC, ETH and stable coins can be mapped to Heco by an asset bridge. The realization method is to lock a certain amount of tokens on the original chain then generate a corresponding number of tokens on Heco.

Heco encourages developers to provide more decentralized cross-chain solution.

Meta Transaction Function

The meta-transaction function is supported, which allows users to reduce gas fees step-wise, and Heco will cover the payment of the reduced part. The meta-transaction function allows to minimize the migration cost of DApp developers, as well as to effectively reduce the cost of DApp users.

Heco Technical Characteristics

  • An open and decentralized network to maintain the security of the network and assets.
  • Support the programmability of EVM, the compatibility of smart contracts to reduce development or migration costs.
  • Meta-transaction function: gas fee reduction, effectively reducing the cost of developers and users on the chain.
  • Support cross-chain asset transfer to optimize users’ experience.

Four Stages of Heco

Heco Technical Route
Stage Features Time Sub Stage Technical Points
Tinder The initial version of Heco.

The system is stable and easy to use.

Developers can develop and promote Dapp at low cost.

Users can participate in Dapp on Heco with a low threshold.

2020 Q4-2021 Q1 Public Beta Higher transaction performance
Lower transaction costs
Meta transaction subsidy
Node Election More decentralized and safer
Complete mainstream assets
Basic tools in place
Ecosystem Incubation Technical service systemization
Basic tool customization
Convenient asset transfer
Spark The protocol is further optimized.

Heco will take the mission of connecting CeFi and DeFi,

allowing more users to use DeFi applications at a low threshold.

2021 Q3 To be announced Complete developer tools
Complete developer forum, blog, and FAQ information
Chain ecological infrastructure booms
Innovative open ID
Personalized portal accurately matches users and Dapps
Flame

Enable Layer2 technology. Expand performance while retaining the decentralized advantages of distributed protocols.

2022 Q2 To be announced Application of Layer2
Cross-chain interoperability protocol
Cross-chain interoperability integration
Blaze

Landing of large-scale commercial applications. Support a variety of traditional businesses to run smoothly on the chain

2023 Q1 To be announced Multiple virtual machine s supported
Multiple zero-knowledge proofs and privacy protection capabilities
Multiple signature schemes
Storage compression and expansion solution
Multi-dimensional sharding scheme

Current Stage of Heco

In December 2020, the Huobi ECO chain, Heco officially launched its “Tinder” phase, which will focus on improving the on-chain infrastructure, including but not limited to: Oracles, Voting tools, Anchor Coins, DEX, Lending, Fnancial Management, Insurance, Synthetic Assets, Cross-Chain Solutions, Data Analysis, Smart Contract Innovation, etc.

Support Plan of Heco

Financial Support

  • Heco will set up a special fund to invest, support and incentivize high-potential developers.
  • Heco will launch a variety of developer activities and competitions to discover and fund potential developers.
  • In order to reduce the cost of users on Heco Dapp, the Heco meta transaction function will reduce the gas fee of users holding HT in a step-wise manner.

Traffic Support

Huobi Global will strongly support the development of Heco ecosystem:

  • Provide traffic entrance for high-quality Dapp on Heco.
  • After running successfully on Heco, high-quality projects can submit token listing application to Huobi Global, and can be listed on Huobi Global if they meet the listing standards.

Resource Support

  • Projects or developers that have received investment and support from Heco have not only the opportunity to get official news report, but also can apply for marketing service packages and promote their projects globally.
  • High-quality projects can participate in Heco global roadshows for free.
  • Huobi Group will open up ecological resources to high-potential developers, matching the win-win cooperation between developers and our ecological partners.

Interact with Us on Social Media

  • Facebook:Huobi Eco Chain
  • Twitter:Huobi_EcoChain
  • Telegram: HuobiEcoChain
  • Weibo:火币生态链Heco
  • Wechat Offical Account:Huobi Eco Heco

Risk Warning

  • All users and developers can participate in the current test environment and subsequent stages of Heco for free, and there is no charging scenario.
  • All users must distinguish the test environment from the Mainnet. The assets generated in the test environment have no value. Be aware of counterfeit currency fraud.
  • Heco announces authorization, promotion and other collaborations only through the official social media platform. Developers and users should check carefully to avoid losses.
  • Do not misread the official website (hecochain.com), and be cautious with private key phishing.

GitHub

https://github.com/HuobiGroup/huobi-eco-chain