Huobi to Launch Own Public Blockchain

It is planned that the FinanceChain code will be opened in the third quarter, and the launch of the test network will take place in early 2020
02 July 2019   497

Huobi, a large cryptocurrency exchange, is going to launch its own public blockchain focused on services in the field of decentralized finance (DeFi). This is reported by The Block.

As part of the FinanceChain initiative, the marketplace has entered into a partnership with a startup Nervos. It is expected that the new platform will allow exchanges and other financial companies to launch their own blockchains, token up assets and provide various DeFi-services. In particular, FinanceChain will support the launch of credit services, stablecocks, offers of security tokens (STO), decentralized exchanges and various payment services.

More and more assets are being tokenized and moved to the digital world, including both native cryptocurrencies and traditional physical assets.

Kevin Wang

Co-founder, Nervos

It is expected that the FinanceChain code will be opened in the third quarter, and the launch of the test network will take place in early 2020. The launch of the main network of the new blockchain is scheduled for the second quarter of next year.

The system will support decentralized identification, and KYC tools will be built into it to ensure compliance with the requirements of anti-money laundering legislation (AML). Moreover, Huobi noted that the regulators themselves will be able to join the network as validators.

Mainstream blockchain systems (such as BTC, ETH, EOS, etc.) lack comprehensive support for regulation and compliance, limiting their use in the compliance market. 

Leon Li Lin

Founder and CEO, Huobi

It should be noted that in April, the launch of the main network Binance Chain.

Nasdaq to Launch Index, Based on 100 Crypto Assets

Neural network, considering 200 different factors, helped to create the list of the assets tracked by the CIX100 index
16 October 2019   112

Nasdaq, the world's second largest stock exchange, has added the CIX100 index based on 100 crypto assets, reports CoinTelegraph.

When building a basket of hundreds of leading digital assets, the tool from uses neural network algorithms that take into account more than 200 different factors. Such a comprehensive analysis allows, in particular, to exclude coins with fake volumes.

It is also known that the index draws data on transactions on the nine largest bitcoin exchanges, and also analyzes information from social networks and the media. Only those coins that last in the top 200 for at least three months can become components of the CIX100. The composition of the index will be reviewed monthly.

According to the developers, the index will be useful for both newcomers to the industry and professionals.