HashKey Teases Launch Timeline for Its Layer 2 Solution HashKey Chain

by

As a researcher with a background in blockchain technology and experience in following the developments within the Ethereum L2 ecosystem, I’m excited about HashKey Group’s upcoming launch of its Ethereum L2 solution, HashKey Chain. The potential Q4 2024 launch is an ambitious timeline, but given the firm’s Hong Kong license and commitment to security checks, I believe they are capable of delivering a robust and secure platform.

HashKey Group has given a vague indication about the timeline for the launch of its Ethereum Layer 2 solution, HashKey Chain. In a recent post on their platform, they mentioned a tentative launch window of Q4 2024. This implies that HashKey has approximately six months left to prepare for the release of this project.

HashKey Unveils Its Ethereum L2 Chain

Within the specified timeframe for the launch, the general public may need to endure a one-year delay before the testnet becomes accessible on the mainnet. HashKey Group values security above all else for their mainnet, which is why they plan to engage their community in conducting security checks on the chain. This initiative complements their plans for independent code audits, aimed at creating a strong and secure platform.

At the 2024 Hong Kong Web3 Festival in April, HashKey Group unveiled this innovation. By utilizing ZK-proof technology, it delivers affordable, efficient, and easy-to-develop on-chain solutions. HashKey Cloud, a Web 3.0 infrastructure provider that’s part of the group, will operate the Ethereum L2 chain to support this initiative.

HashKey Chain signifies HashKey’s initial foray into Ethereum L2 (Layer 2) solutions. Designed to deliver a strong, cost-effective, and programmer-friendly environment for users.

On HashKey Chain, developers can carry out transactions directly on the blockchain and introduce Decentralized Applications (dApps). This platform prioritizes developers’ contributions to the advancement of blockchain technology, offering an user-friendly interface and a strong collection of development tools. Among these resources are an accessible blockchain explorer and powerful frameworks for programming.

Our primary objective is to make it simpler for newcomers to join the blockchain movement and improve the overall development process. This could potentially lead to a new phase of collaborative efforts and productivity within the blockchain industry. We plan to accomplish this through alliances with incubators, angel investors, venture capitalists, and research institutions. Some of our partners include Future3 Campus, ThreeDAO, and HashKey Capital.

HashKey Chain Set to Utilize HSK Token

As an analyst, I’d describe it this way: I’m particularly drawn to HashKey Chain due to its innovative integration of the native token, HashKey EcoPoints or HSK for short. The HSK token plays a crucial role in motivating and remunerating various contributors to our ecosystem, namely developers, investors, and users. By adopting the widely-used ERC-20 standard, HashKey effectively stimulates active involvement and interaction within our thriving community.

The coin boasts some notable advantages, such as fee reductions and exclusive privileges for asset issuance plus priority access to upcoming token subscription rounds, as stated in the HSK whitepaper. The token’s total supply is documented at 1 billion units.

Approximately two-thirds (65%) of our total supply is dedicated to marketing and business development efforts. Thirty percent (30%) is earmarked for the HashKey team, while the final 5% is set aside for further securing the ecosystem by protecting additional users. Additionally, we have plans in place to eliminate HSK tokens through token burns. During these events, 20% of our company’s net profits will be allocated to shield HSK holders from potential dilution caused by rewards-enhanced increases in circulating HSK supply.

Read More

2024-07-08 19:06