HashKey Group is ready to expand its Web3 ecosystem with the launch of HashKey Chain, a ZK proof-based Ethereum Layer-2 platform using its HSK token for ecosystem incentives.
HashKey Group, a prominent player in the digital asset financial services sector in Asia, has unveiled its latest venture into the burgeoning Web3 landscape – HashKey Chain, according to a press release shared with Blockchain.News. This Ethereum Layer-2 network was announced at the Web3 Festival in Hong Kong in 2024, marking a significant expansion of HashKey’s Web3 ecosystem.
HashKey Chain: Bridging Ethereum’s Scalability Gap
The HashKey chain is designed with proof-of-zero-knowledge (ZK-proof) technology at its core, offering an efficient and cost-effective means of executing smart contracts and deploying applications. This technology is key to addressing the well-known scalability issues associated with the Ethereum network, a challenge that has driven the development of various Layer-2 solutions in recent years.
Innovation doesn’t stop at scalability. HashKey Chain is poised to be an ecosystem-oriented platform providing a range of services including trading, investment and application hosting. By integrating the group’s own token, HSK, HashKey Chain aims to drive participation and contribution to its ecosystem, rewarding developers, users and stakeholders.
Fostering a developer-centric environment
HashKey recognizes the importance of a developer-friendly ecosystem. By equipping creators with a robust set of tools and an intuitive blockchain browser, HashKey Chain significantly lowers the barriers to entry for blockchain development. In doing so, the Group strives to cultivate a vibrant community that supports innovation and collective growth.
To support this initiative, HashKey Chain will partner with various incubators, venture capitals and think tanks, such as Future3 Campus, ThreeDAO and HashKey Capital. These partnerships will facilitate an enabling environment for technical development, product strategy and resource integration, further enriched by events such as hackathons that aim to drive community engagement and innovation.
Security and incentives at the fore
Security is a non-negotiable aspect of HashKey Chain, with the Group strictly adhering to its high security standards. Code audits by reputable third-party entities and community-driven security testing are measures HashKey will implement to ensure a secure and reliable environment for both developers and users.
In addition to the technical and security regulations, HashKey Chain’s use of the HSK token as an incentive mechanism reflects a strategic move to encourage loyalty and active participation in the ecosystem. This approach reflects a broader industry trend where blockchain platforms use their own tokens to drive ecosystem growth and value.
HashKey Cloud: The engine behind the HashKey Chain
Integral to the HashKey Chain implementation is HashKey Cloud, a key component of HashKey Group’s infrastructure offerings. As a node validation service provider since 2018, HashKey Cloud’s experience spans over 80 major public chains, positioning it as an experienced player in the Web3 infrastructure space.
With the HashKey Chain test network set to go live within the next six months and the main network within a year, the Group’s roadmap outlines a clear trajectory toward establishing a comprehensive and interconnected Web3 ecosystem.
About HashKey Group
Established in 2018, HashKey Group has emerged as a leader in the digital asset financial services arena in Asia. The Group’s commitment to compliance and innovation is evident in its diverse portfolio of businesses, which includes HashKey Exchange, HashKey Capital, HashKey Cloud, HashKey Tokenisation and HashKey NFT, among others. Operating from its headquarters in Hong Kong and with offices in Singapore and Tokyo, HashKey Group is at the forefront of shaping the digital asset and Web3 landscape, offering a range of services to a wide range of clients from retail investors to institutional entities.
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