Huobi Global, a leading global cryptocurrency exchange and blockchain solutions provider, recently announced its plans to back Cube, a public chain for Web3 and the metaverse in hopes to develop its infrastructure. The company recognized the potential within the public chain that could assist in furthering its Web3 development strategy.
The company made the official announcement at the Consensus 2022 conference held in Austin, Texas. Huobi Global is quite optimistic about utilizing Cube’s technology to meet its business objectives and goals.
Huobi Global to expand its Web3 ecosystem
Huobi Global has been making efforts to create a perfect Web3 ecosystem. The company saw an opportunity rise with Cube and decided to invest to improve its own network.
The CFO of Huobi Global, Lily Zhang explained the motivation behind the investment, “Huobi Global has picked Cube as one of the public chains we will invest in under our Web3 development strategy. In the near future, we will continue to invest in more public chains, as we are optimistic about Web3 and are committed to improving its infrastructure.”
Why is Cube the first choice for Huobi Global?
Cube, previously known as Cube Chain, is a unique, modular, permissionless public chain compatible with the Ethereum Virtual Machine (EVM), designed based on a multichain structure. It offers some of the best modern technologies such as proprietary collaborative rollups, chaos consensus, non-linear infinite storage, and an innovative Time Crossing protocol for Web3 infrastructure.
Cube recently released its mainnet which was welcomed around the globe with positive feedback, showing the promising capability of the public chain. Huobi Global recognized this potential and immediately called dibs to back Cube in hopes to improve its own Web3 infrastructure.
Public chains, especially Cube, are the future of the internet as Web3 expands into the market. The world is eagerly adapting to the latest developments, making it a priority for Huobi Global to keep up with the rest of the world in terms of the metaverse, blockchain, crypto, and NFTs. The company will build an ideal ecosystem to facilitate users in financial transactions through its platform.
With GameFi, DeFi, and dApps taking over, the public chains have become quite high in demand. Old public chains are slower and a bit glitchy due to increasing transactions. Furthermore, the high gas fee and limited decentralization benefits for blockchain networks can be quite challenging, especially for those platforms that have millions of transactions all day.
The most apparent example is Ethereum which takes almost 10 minutes to make complete transfers during high traffic hours. This can be quite frustrating for users.
Cube emerges as a savior for all networks through its layer-1 blockchain, well-known for its high speed and scalability, making it a perfect partner for Huobi Global. It not only gives more options but also a low-cost and secure environment for individuals to make transactions.
Cube’s public chain is a modular-layered structure with three layers, Execution Layer, Settlement Layer, and Data Availability Layer. Execution Layer maintains the scalability by combining built-in ZK-Rollup and self-developed Collaborative Rollup mechanisms. It has a “Time-crossing” cross-chain protocol compatible with the Cosmos ecosystem, EVM-based chains, and their ecosystems. Furthermore, the data is stored in a Non-Linear Unlimited Storage that provides rapid access to data.
Based on its present design, Cube can process about 3,000 transactions per second, which will exceed 5,000 by the end of September 2022.
In short, it is a perfect public chain that defines the future of Web3 and is quite compatible with every latest development within the industry.
About Huobi Global
Huobi Global is a well-known global cryptocurrency exchange founded in 2013. The platform holds tens of millions of users from 160 different countries dedicated to providing the best financial services.
It offers a wide array of digital asset trading and management services to fulfill the demands of diverse trading needs. Its infrastructure is built to provide user safety and industry compliance, supported by strong global 24/7 customer support and well-known local expertise.
By doing so, it empowers financial freedom by providing transaction services through its platform. It truly has a distinctive trading ecosystem that ensures users’ easy yet long-term success.
For more information, visit huobi.com.
Cube is a modular-layered public chain that provides high performance, speed, and scalability and supports cross-chain and multi-chain architecture. The public chain provides compatibility with EVM and Cosmos IBC ecosystem. Cube is motivated to provide users with a next-generation multichain experience by improving the Web3 infrastructure and cross-chain protocols.
Visit cube.network for more information or follow Cube on:
- Twitter: Cube0x
- Telegram: t.co/uSotJ7DJqq