HashKey Group to Launch Ethereum Layer-2 Network

HashKey Group, Asia's leading digital asset financial services group, today launched HashKey Chain, an ethereum Layer-2 (L2) network designed to leverage ZK-proof technology to deliver low-cost, efficient and easy-to-use solutions for developers.

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We are expanding our twitter.com/hashtag/Web3?src=hash&ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener noreferrer”>#web3 ecosystem!

HashKey is excited to announce the upcoming launch of HashKey Chain, an ethereum L2

What's so exciting?
Scalable, efficient, easy to develop and low-cost on-chain solutions powered by ZK-proof technology

A “Chain of Ecosystems” that… pic.twitter.com/YauPyJGDOv

– HashKey Group (@HashKeyGroup) twitter.com/HashKeyGroup/status/1777620401566429349?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener noreferrer”>April 9, 2024

HashKey Chain, powered by HashKey Cloud infrastructure, has been in development since 2018. The new network will use the platform's HSK token to reward contributors to the ecosystem. HashKey Chain is preparing for a testnet launch in the next six months, with a mainnet launch anticipated within a year.

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By starting with HashKey's business matrix and capitalizing on its compliance, security and technology strengths, the Group envisions a comprehensive Web3 ecosystem. This ecosystem is expected to support various on-chain services, including trading, investment, and application deployment, attracting more users and assets to the Web3 space.

According to the company, HashKey Chain is designed to be easy for developers to use. It provides a complete set of tools and an intuitive blockchain browser to reduce barriers to entry and improve the development experience.

With the integration of ZK-proof technology, the new chain aims to ensure greater scalability and reduce costs associated with smart contracts and applications, facilitating the growth of modular blockchains.

Additionally, HashKey Chain will form an Ecosystem Alliance with incubators, startup camps, venture capitalists, and think tanks such as Future3 Campus, ThreeDAO, and HashKey Capital. Initiatives like hackathons will offer co-creators comprehensive incentives, including technical development, product strategy, resource integration, and funding, to cultivate a collaborative L2 community.

By prioritizing security, HashKey Chain will leverage HashKey's rigorous security protocols, including third-party code audits and community-driven security testing. This ensures a secure and self-monitoring environment for developers.

Fresh off a $100 million Series A round that valued them at over $1.2 billion in early January, HashKey is now eyeing the next round of funding later this year. The introduction of the new Layer-2 chain comes a day after the company launched its crypto exchange, HashKey Global.

In addition to its presence in Japan, Hong Kong, Singapore and Bermuda, HashKey Group plans to expand to the Middle East and Europe. The company aims to become one of the world's largest licensed cryptocurrency exchanges in the next five years.