Crypto exchange Huobi will join the BitTorrent Chain (BTTC) ecosystem, the company has revealed in an announcement.
Huobi’s integration with the layer 2 cross-chain solution will enable “seamless asset exchange” through connecting leading smart contract blockchains including Ethereum, Tron and BNB Chain, the exchange said in a release shared with Decrypt.
The result promises to be a “super network linking all blockchains,” that will help to promote an on-chain open financial system, according to Huobi.
#Huobi is excited to announce that it will join the #BTTC (BitTorrent Chain) ecosystem & support the development of a layer 2 network based on BTTC to promote the creation and improvement of an on-chain open financial system.
“The crypto exchange’s move reflects an industry focus on layer 2 developments”, said Tron founder and member of the Huobi global advisory board Justin Sun. He added that the integration of Huobi with BTTC demonstrates BTTC’s “pioneering status among its peers in the field of building a complete and pragmatic Layer 2 cross-chain network structure and platform."
More Videos
0 seconds of 17 minutes, 28 secondsVolume 90%
Press shift question mark to access a list of keyboard shortcuts
Launched in December 2021, BitTorrent Chain is a layer 2 solution for Ethereum, Tron and BNB Chain. BTTC’s cross-chain solution enables the seamless exchange of assets between these blockchains, connecting them to provide a secure, low-cost and fast development environment for decentralized applications (dapps).
Later in 2023, BTTC plans to integrate zero proof of knowledge (ZK) technology, the project revealed in a tweet.
Note: ZK (Zero Proof of Knowledge) technology will be introduced later this year.
Founded in 2013, crypto exchange Huobi has grown to support over 50 million users worldwide, trading $100 trillion in cumulative assets. In November 2022, the company rebranded with a new growth strategy which reflects its evolution into an ecosystem of blockchain businesses spanning digital asset trading, financial derivatives, wallets, research, investments and incubation.
The addition of Huobi to BTTC’s ecosystem will “promote the development and usage of decentralized applications on-chain and enhance the exchange's own ecosystem,” said a spokesperson for Huobi. They added that by supporting layer 2 development on mainstream chains including Ethereum and Tron, the exchange aims “ to provide an open, secure and diverse environment for all relevant developer teams.”
Crypto exchange Kraken is willing to hit some pretty tight deadlines, as the exchange works to elevate its brand and market share through a new business solution dubbed Kraken Embed, according to the company’s Head of Payments and Blockchain Brett McLain.
In an interview with Decrypt, McLain said that Kraken’s recent tie-up with bunq, a Netherlands-based neobank, was the result of a last-minute shift—and a blueprint for how the company could expand its presence through relationships with similar...
Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week:
Choppy week for Coinbase
Coinbase flagged a $400 million cybersecurity breach this week—one of the biggest in the company’s history. The most troubling aspect is that the exploit arose because an overseas contractor was bribed to steal customer data.
In a video posted online, CEO Brian Armstrong said that criminals were able to gain access to sensitive user data, including names, addres...
Hong Kong investment group Avenir snapped up another 3.4 million shares of BlackRock's iShares Bitcoin Trust ETF (IBIT) during the first quarter, bringing its holdings of the fund to nearly $700 million, according to a U.S. regulatory filing published Thursday—further evidence that spot Bitcoin ETFs are gaining traction among financial institutions.
Avenir held 14.7 million IBIT shares worth $688 million as of March 31, according to its filing,. That marks a 30% increase from the firm's IBIT ho...