{"id":47325,"date":"2021-08-06T13:39:21","date_gmt":"2021-08-06T10:39:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47325"},"modified":"2025-09-01T20:45:52","modified_gmt":"2025-09-01T17:45:52","slug":"tvl-of-2-3-billion-in-six-months-how-huobi-eco-chain-is-developing","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/tvl-of-2-3-billion-in-six-months-how-huobi-eco-chain-is-developing\/","title":{"rendered":"TVL of $2.3 billion in six months: how Huobi ECO Chain is developing"},"content":{"rendered":"

The DeFi boom in 2020-2021 proved to be the main driver of rising transaction fees on Ethereum. In April this year the average fee <\/span>exceeded<\/span><\/a> $20, and in May <\/span>reached<\/span><\/a> $70.<\/span><\/p>\n

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This situation prompted major exchanges to create Ethereum alternatives: Binance Smart Chain, OKExChain and Huobi ECO Chain (HECO). The latter has become the linchpin for Huobi\\’s ecosystem, which includes the exchange token Huobi Token (HT), the stablecoin HUSD and the Huobi Wallet.<\/p>\n

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Together with Huobi, we discuss the advantages of HECO and the main DeFi projects on this blockchain.<\/p>\n

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Development and features of Huobi ECO Chain<\/h2>\n

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In January 2018, Huobi <\/span>launched<\/span> Huobi Token (HT) on the Ethereum network. Holders received discounts on trading fees on the exchange. Over time, Huobi expanded the token\\’s use. Currently HT provides access to the exchange\\’s VIP services and token sales on the Huobi Prime platform.<\/span><\/p>\n

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The rise in Ethereum fees affected the cost of HT and HUSD transfers. In March 2020, Huobi <\/span>began development<\/span><\/a> of its own blockchain, and in December launched the HECO mainnet.<\/span><\/p>\n

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Huobi ECO Chain \u2014 public EVM-compatible blockchain with the consensus algorithm HPoS<\/a>, which is a combination of Proof-of-Authority (PoA) and Proof-of-Stake (PoS). Ethereum developers can use libraries web3j, web3js<\/a> to build decentralized applications and DeFi protocols on HECO.<\/p>\n

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Validation of transactions on HECO is performed by a network of 21 validators. The protocol rotates this network each epoch. The epoch duration is 200 blocks. To become a validator, one must stake at least 32 HT.<\/p>\n

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HECO can process more than 500 transactions per second. The average network fee is $0.001.<\/p>\n

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\\\"TVL
HECO throughput is 32 times higher than Ethereum.<\/figcaption><\/figure>\n

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The HECO roadmap includes four stages:<\/p>\n

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