Hashkey Group launches Ethereum layer-2 ‘Hashkey Chain mainnet’

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As a seasoned crypto investor with roots deeply entrenched in the bustling financial hub of Hong Kong, I find the recent developments surrounding HashKey Chain particularly intriguing. Having navigated through the volatile crypto market for years, I’ve witnessed the rise and fall of countless projects, but the impressive numbers HashKey Chain has been churning out during its testnet phase caught my attention.

On December 18th, the public blockchain created by HashKey Group based in Hong Kong, known as HashKey Chain, was formally unveiled and became operational on the Ethereum layer-2 level.

After a fruitful 30-day trial run on the testnet, we’re now moving forward with the live launch of our main network. Over 860,000 unique wallets registered during this period, with approximately 24.72 million transactions being processed. Furthermore, our community was actively involved, boasting over 300,000 members.

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As stated in a blog post from Hashkey Group, a staggering 50 projects were launched during the testnet phase. In trials, it’s been claimed that Hashkey Chain Mainnet managed an impressive speed of 400 transactions per second (TPS) and gas fees as minimal as 0.1 gwei.

Hashkey Chain

Using the newest OP-Stack and Rollup technology, we’ve increased our network capabilities to provide a more seamless user experience,” said Kay Lu, CEO of Hashkey CHain, in a released statement. Furthermore, he noted:

“This also creates a secure, efficient, and developer-friendly environment for building transformative decentralized applications on a compliant and innovation-driven public chain.”

At the time this article was written on December 18th, Hashkey Chain recorded approximately 43,300 transactions over a 24-hour period, with a transaction per second (TPS) rate of 0.5 and gas fees averaging around 0.001 gwei, which is equivalent to 0.000000001 Ether.

The growth occurs during a period when there’s increased effort to develop cryptocurrency and blockchain technology infrastructures across the Asia Pacific, along with crypto-supportive laws in Hong Kong.

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December 18th will see the initial review of a proposed law in the Legislative Council regarding the control of stablecoins within Hong Kong. If approved, this legislation would be among the most extensive and thorough regulatory attempts to clarify the definition of stablecoins and their legal applications.

On December 18th, the Securities Futures Commission in Hong Kong granted approval for four new Virtual Asset Trading Platforms out of a total of 11 applications that were pending. The approved platforms are Accumulus GBA Technology, DFX Labs, Hong Kong Digital Asset EX, and Thousand Whales Technology, all now authorized to commence their operations.

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2024-12-18 19:34