What is going on with the Huobi ecological chain?
Hello, here is the 8-minute blockchain. Today is Monday. There is an interactive Q&A in the group. Today I saw that several friends in the group are asking questions about the Huobi ecological chain. So today, I spent 4 It took me an hour to understand the Huobi ecological chain, and I will give you back what I have learned today.
First of all, let's take a look at what is the Huobi ecological chain?
Huobi Ecological Chain Huobi ECO (ecology) iˈkɑːlədʒi] Chain is called HECO for short. Huobi official explanation is that Huobi Ecological Chain is a decentralized high-efficiency and energy-saving public chain, and it is also the first product launched by Huobi Open Platform. On the basis of high-performance transactions, the compatibility of smart contracts is realized.
When I read this sentence, I still thought it was a typo on Huobi’s official website. Let me read it to you again: Huobi ecological chain is the first product launched by Huobi’s open platform. Does it sound like a problem? Because the Huobi ecological chain was launched on December 21, 2020.
But before that, Huobi has launched many products, such as Huobi Mining Pool, Huobi’s platform currency ht, and various products on Huobi Mall, Huobi Public Chain, etc. are all launched by Huobi As for the product, how can this Huobi ecological chain not be the first product?
Later, when I looked carefully, I realized that what they were talking about was the first product launched by Huobi Open Platform, not the first product launched by Huobi Group and Huobi Exchange.
This Fire Coin open platform is based on Fire Coin Group's technical resources, traffic resources and ecological resources, and it is a unified infrastructure platform that has been fully opened to the blockchain industry. That is to say, Huobi has re-established a platform in order to build this public chain. I have a basis for saying this, because it is written in the white paper of Huobi: The purpose of establishing this platform is to make decentralized applications The construction efficiency of the application is higher and the cost is lower, and it is fully empowered in terms of promotion, traffic, and resources. You see, it is built for decentralized applications, so what types of decentralized applications are the most popular recently? Obviously it is defi!
After hearing this, you should understand that whether Huobi establishes an open platform or a public chain such as the Huobi ecological chain, the purpose is to take advantage of this wave of DeFi hotspots, which is similar to that of TRON in the second half of last year. Justin Sun’s approach is the same as the approach of eos founder bm and the public chain of Xiaoyi. They are all for the sake of hype, because in the final analysis, the Huobi ecological chain is still a public chain. If Huobi If you really just want to build a public chain, just like Binance OK, just do your own Huobi public chain honestly. There is no need to build a Huobi open platform and Huobi ecological chain.
There are so many popular defis, and different people will face 3 different choices. The first type of people are either unwilling to read, feel that defi is too complicated, lazy to waste their brains and research, or they are really incapable I understand the logic here, or I always feel that it has nothing to do with me, so I didn't participate in it. Many people in this wave of currency circles missed this wave of defi market in this way.
The second type of people are capable of understanding, but are too lazy to read, do not want to take the time to read, do not want to spend time to learn, just read some articles, some people, the Jiang Zhuoer I mentioned yesterday is The reason for this kind of person is also very easy to understand, because they are already rich and free, and they have a lot of Bitcoin and Ethereum in their hands. It is enough to honestly hold these coins. For him, any defi is in the It's a waste of time, and from the perspective of the certainty of making money, it is indeed more certain to hold Bitcoin and Ethereum.
The third type of people, um, are people who understand the logic of defi in real time, people who are willing to spend time on research, and people who are willing to spend money to practice, but these people are divided into two categories, one is large investors and small retail investors, who understand If you want to buy coins to participate, you have to buy to participate through mining. In short, this kind of people has a high probability of making enough money in the past six months. As for the other type of people, they agree that they understand the logic of defi, have relatively large funds and relatively large influence, such as Sun Ge of Wavelength, bm of EOS, Da Hongfei of Xiaoyi, and Huobi Group. This kind of people, obviously, it is not enough for this kind of people to participate with their own money. They need to use DeFi to further expand their influence. Seeing that ico is popular, hurry up to do ico. Huobi’s ht is actually ico in essence. Yes, and I personally participated in it back then. It was the way to let you buy their point cards and subscribe for their platform currency. Later, ifo became popular and followed up with an ifo. Du Jun, a shareholder of Huobi, also forked Bitcoin, called bcx, was also harvested fiercely. This currency called bcx was issued by Huobi’s Du Jun. It is still trading on the Huobi platform today. The price on the first day of its launch compared to Bitcoin is 0.0000088, today It has become 0.0000000103, two zeros have been added in two years since it was launched, and then the 8 after the decimal point has become 1, and the drop is as high as 99%. Don't think that Huobi is a very bottom-line exchange after you get to this currency.
If you follow the normal process of Huobi, first of all, this currency cannot be listed on Huobi, and secondly, even if it is listed, the currency with a drop of more than 99% and the currency with such low liquidity should have been delisted long ago, but I thought you This coin was issued by Du Jun, so it can be kept forever. Du Jun is one of the earliest founders of Huobi. After the OK incident broke out in 2020, he returned to Huobi with a high profile. Now he is responsible for the asset security of Huobi. Because he is now abroad, it is relatively safe, at least the part that allows him to control the private key will not appear, like ok, after Lao Xu goes in alone, the currency of the entire exchange will not be able to raise the issue.
Well, after hearing this, you should have already heard my views on the Huobi ecological chain, two words are meaningless.
The middle process may be a little bit popular, especially recently we have seen that Huobi’s platform currency has begun to rise, but after a little bit of popularity, the final destination will probably be similar to the defi on TRON and the defi on eos , will gradually dissipate.
Well, let me tell you the basis of my judgment:
Let's take a look at the performance of this public chain first. Firecoin ecological chain Heco performance TPS: 500+ eso is more than 3000 TRON. According to Sun Ge, it has reached 10000. Block generation time: 3s Consensus algorithm HPoS consensus mechanism: The The mechanism has the characteristics of low transaction cost, low transaction delay, and high transaction concurrency;
The incentive for nodes is the transaction fee on the chain, and the transaction fee is HT;
economic model
economic model
The native token on the chain is HT; the transaction consumes HT as Gas;
Miners become public chain nodes through official review + pledge HT, and distribute rewards according to the mortgage ratio;
The miner's reward is Gas, which is distributed according to the miner's mortgage ratio.
Cross-chain
In the early days, it will support ETH, BTC and other platform account assets through a centralized gateway, and map them to Heco. The implementation method is to generate a corresponding number of ERC-like Tokens in Heco after locking certain account assets on the exchange.
To sum up, the Huobi ecological chain is a public chain whose performance is not as good as Wavelength and EOS. The consensus mechanism is completely dependent on Huobi’s platform currency. The economic model is too centralized and the security level of the public chain is not high. The enthusiasm for speculative participation is average, and the probability of medium and long-term success is extremely slim.
Finally, I ask you to think about a question: If you get an unexpected fund today and want to develop a DeFi project, making this a long-cherished wish of your life, then when you choose a public chain, which one will you choose? ? There are the following options, Huobi ecological public chain, wavelength public chain, eos public chain, small ant public chain, ada public chain, and Ethereum public chain. I hope to write your answer in the comment area.
