On December 18th, HashKey Chain, a public blockchain developed by Hong Kong-based HashKey Group, successfully launched its Ethereum layer-2 mainnet. This achievement marks a significant milestone in the development of the platform, following a month-long testnet period that demonstrated impressive performance and adoption.
Testnet Period: A Resounding Success
Prior to the mainnet launch, HashKey Chain’s testnet phase garnered substantial attention and participation from the community. During this period, over 860,000 wallet addresses were registered, with a reported 24.72 million transactions recorded. Moreover, more than 300,000 community members actively engaged with the platform.
Impressive Performance Metrics
The testnet phase showcased HashKey Chain’s capability to process high transaction volumes while maintaining low gas fees. In laboratory testing, the mainnet reportedly reached an impressive 400 transactions per second (TPS) and saw gas fees as low as 0.1 gwei.
Benefits of OP-Stack and Rollup Technology
According to HashKey Chain’s CEO, Kay Lu, the adoption of the latest OP-Stack and Rollup technology has significantly expanded network capacity, providing a smoother user experience for developers and users alike. This development creates a secure, efficient, and developer-friendly environment for building transformative decentralized applications on a compliant and innovation-driven public chain.
Mainnet Launch: Key Statistics
As of December 18th, HashKey Chain’s mainnet experienced a 24-hour transaction volume of 43,300 transactions with a TPS of 0.5 and gas fees hanging around 0.001 gwei (approximately 0.000000001 Ether or ETH). These statistics demonstrate the platform’s ability to handle a substantial volume of transactions while maintaining low fees.
Renewed Push for Cryptocurrency Infrastructure Growth
The expansion of HashKey Chain’s mainnet comes at a time when the Asia-Pacific region and Hong Kong are experiencing a renewed push for cryptocurrency and blockchain technology infrastructure growth. Recent legislative efforts, including the proposed bill to regulate stablecoins in Hong Kong, have contributed to this growth.
Legislative Developments in Hong Kong
December 18th also marked the first legislative council reading of a proposed bill to regulate stablecoins throughout Hong Kong. If passed, this measure would become one of the most comprehensive and detailed regulatory efforts aimed at defining stablecoins and their legal use.
Financial Regulator Approves Virtual Asset Trading Platforms
In related news, Hong Kong’s financial regulator, the Securities Futures Commission, approved four new virtual asset trading platforms out of 11 previously pending applications. Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology have received the green light to begin operations.
Conclusion
The launch of HashKey Chain’s Ethereum layer-2 mainnet marks a significant milestone in the development of public blockchain infrastructure in the Asia-Pacific region. With its impressive performance metrics and commitment to innovation, HashKey Chain is poised to become a leading player in the cryptocurrency and blockchain ecosystem.
Related Links
- HashKey HSK: Learn more about HashKey Group and their initiatives.
- Hong Kong proposes tax breaks to attract crypto hedge funds, investors: Discover the latest developments in Hong Kong’s regulatory landscape.
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