Huobi Announces Cube Field Investments as Part of Global Web 3.0 Ecosystem Strategy

Huobi Announces Cube Field Investments as Part of Global Web 3.0 Ecosystem Strategy

Huobi Global, a world-leading cryptocurrency exchange and blockchain solution provider, today announced its investment in Cube, a public chain that provides innovative infrastructure for Web 3.0 and Metavers. Launched at CoinDesk’s Consensus 2022 conference in Austin, Texas, Huobi emphasizes the latest strategy to expand Global’s Web 3.0 ecosystem.

Cube (formerly Cube Chain) is a new, modular, unauthorized and EVM-compatible public chain designed based on multi-chain and layered architecture. It offers groundbreaking technologies such as proprietary collaborative rollup, chaotic consensus, non-linear infinite storage and an innovative time-crossing protocol for Web 3.0 infrastructure. Since its mainnet was launched earlier this week, Cube has received overwhelmingly positive feedback.

To help more people convert to Web 3.0, Huobi is focusing on embracing and developing the Global Web 3.0 infrastructure and metavers, where blockchain applications such as NFTs, DeFi and GameFi have huge potential for explosive growth.

“Whoobi has chosen Global Cube as one of the public chains we will invest in under our Web 3.0 development strategy. In the near future, we will continue to invest in more public chains because we are optimistic about Web 3.0 and committed to improving its infrastructure, “said Lily Zhang, CFO of Huobi Global.

It is widely recognized in the industry that Web 3.0 is the future of the Internet, with blockchain and public chains serving as core technologies and infrastructure, respectively. With the advent of NFTs, DeFi and other blockchain applications, many public chains have been launched in the market.

However, the explosive growth of GameFi, Defy and NFT has led to a rapid increase in the volume of transactions in this public chain. Early public chains were unable to meet user needs in terms of timeliness or cost-effectiveness. Ethereum, for example, takes about 10 minutes to complete a transaction during peak hours, and gas fees can reach hundreds of dollars.

In addition, how to solve blockchain trilogy – a widely held belief that decentralized networks can offer two of the three benefits at any one time in terms of decentralization, security and scalability – is also a common challenge for industry players.

To better meet the needs of the industry, Cube uses a high-performance Layer 1 blockchain as the basis for resolving the challenge of blockchain expansion and providing users with an efficient, low-cost and secure trading environment.

It splits blockchains vertically, implements a layered architecture, splits blockchain settlement, execution, and data availability, and optimizes them according to their respective characteristics.

With a cross-chain protocol that supports cross-chain defy calls, the Cube is compatible with the cosmos ecosystem. Under its current design, the Cube can process approximately 3,000 transactions per second, and the number is expected to exceed 5,000 by the end of September this year, ensuring an efficient and reliable full-stack solution to develop the rollup and NFT data availability requirements. . Of Web 3.0.

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