Regulatory-Friendly Huobi Chain is Now Open Source, One Step Closer to Achieving an “Inclusive Ecosystem”
On Tuesday, November 12, 2019, Huobi Group announced that Huobi Chain, a platform offering an array of financial services, is now open-source and the code has been made available to the public developer community, partners, enterprises and regulators on GitHub report Markets Insider.
The milestone isn’t the fact that it is open-source, but it is the fact that Huobi Chain is the first-ever regulator-friendly financial blockchain that has gone open-source.
Huobi Chain is a high-performance public blockchain that was created in partnership with Nervos, a blockchain partner that is popularly known for their work on other projects including Ethereum, Sparkpool and imToken. The overall infrastructure of the Chain is supposedly founded on deep customization of components including Muta, CKB-VM, Overlord, and nervos-p2p.
Reason for Making Huobi Chain Open Source
According to the press release, the reason for making it open source reflects Huobi’s goal of establishing a decentralized network and this exactly what the Founder and CEO of Huobi Group, Leon Li expressed:
“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.”
Co-Founder of Nervos, Kevin Wang also commented on this endeavor, highlighting that “innovation is not possible without collaboration.” He further added that developer contribution is crucial for helping the Huobi Chain become integrable within the entire industry.
Li is convinced that Huobi Chain will one day become a “global leader in the blockchain industry,” because of its regulatory nature, which is something financial institutions have previously worried about and have deemed the reason for not participating in blockchain technology.