- The Ethereum Layer 2 HashKey Chain has been made available on the mainnet by HashKey Group.
- Using the OP Stack, HashKey joins other cryptocurrency companies like Coinbase and Kraken in creating their own Layer 2 networks.
Only eight months after first announcing plans to develop its own Ethereum Layer 2, HashKey Group has already launched HashKey Chain on the mainnet.
The regulated digital asset financial services firm HashKey Group is situated in Hong Kong and provides trading, asset management, custody, and blockchain ecosystem solutions.
According to the company, HashKey Chain produced about 25 million transactions, registered over 860,000 wallet addresses, and accomplished 400 transactions per second during the testnet phase, which started on November 11. With the active participation of 300,000 community members, 50 projects were successfully implemented.
As a component of the Superchain, a network of interoperable Layer 2 blockchains constructed using Optimism’s OP Stack, which permits smooth communication and scalability across networks, HashKey Chain joins the larger Ethereum ecosystem, much like Coinbase’s dominant Layer 2 network Base and Kraken’s soon-to-be Ink.
Layer 2s have already been implemented on the Superchain by other projects, including as Worldcoin, Zora, and the OP Mainnet itself. In October, the decentralized exchange Uniswap revealed its own Unichain rollup plans, which were hopeful.
We have increased network bandwidth to provide a more seamless user experience by utilizing the most recent OP Stack and rollup technologies. Additionally, it establishes a safe, effective, and developer-friendly environment for the development of revolutionary decentralized apps on a public chain that is driven by innovation and compliance.
Holders of HashKey Chain’s native token, HSK, can take part in governance and decision-making inside the HashKey Chain ecosystem. HSK is currently active on a number of cryptocurrency exchanges.
A $50 million grant program was recently introduced by HashKey Chain to assist developers. Selected project teams will receive non-dilutive financing, technical assistance, collaboration opportunities, and invitations to take part in hackathons and associated events.
The expanding crypto services of HashKey
In addition to offering blockchain and cryptocurrency exchange services, HashKey was one of the issuers that introduced spot Bitcoin and Ethereum exchange-traded funds with a Hong Kong basis in April, working with Bosera Asset Management. Since its launch, HashKey’s spot Bitcoin ETF has brought in over $70 million in net inflows, while its spot Ethereum ETF has brought in over $18 million. As of right now, Hong Kong is the only Asian region to list spot cryptocurrency ETFs.
The net inflows of billions of dollars into their U.S. counterparts dwarf these numbers, but the funds’ performance in relation to the local equity market is comparable to U.S. benchmarks.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
