Tanya Abrosimova
Independent Analyst
- The cryptocurrency exchange revealed the details of the proprietary blockchain.
- The blockchain will have a host of regulatory supervision features.
The developers of Huobi Chain uploaded to GitHub. the source code of blockchain-focused on DeFi (decentralized finance) services.
Huobi Chain is built jointly by the cryptocurrency exchange Huobi and a blockchain start-up Nervos Foundation. The developers claim that it is a high-performance public chain based on such open source components such as Muta, CKB-VM, Overlord, and nervos-p2p that are customized for financial applications.
Apart from a long list of technical features, the Huobi chain will contain pluggable regulatory components that will allow the authorities to supervise contract deployment, asset holding and transfer, depending on a use case.
The regulators and financial institutions will have access to KYC and AML data and can block assets and accounts via sidechains in case of an emergency.
“Supervision nodes will enable regulators to independently run and maintain nodes, extract data, and participate in the ecosystem’s supervision,” Bo Wang, a Nervos researcher, explained in the interview with CoinDesk.
He also added that Huobi Chain will have tools for pre-deployment audits and continuous tracking of the deployed applications.
Huobi announced the blockchain development in July. The tetst net is expected to go online in the first quarter of 2020.
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