Huobi is expanding its operations to its Public Blockchain. Huobi is the world’s third-largest cryptocurrency exchange and the largest player in China until the Chinese government banned all its citizens from cryptocurrency trading. Which forced it to move from China to Singapore with some new ideas.
Public Blockchain is a kind of Blockchain which has no limitation of access. Anybody can get access to it and can connect to it, can make transactions and or become a validator to it. Public blockchain is being used by Bitcoin, Ethereum and interchangeable cryptocurrencies. The idea of Initial coin offerings popularly known as ICOs is established by Public blockchain which brought a new way to startups to raise capitals.
Huobi is the third largest cryptocurrency exchange in the world which is planning to transfer its operation to Huobi Chain Project and thereby to be a DAO which stands for Decentralised Autonomous Organization after the completion of the project. Communities and codes of DAO will take over the traditional structure of management. In simple, centralized authorities will lose decision making power instead of decision making will be done with the help of decentralized community votes.
Huobi is expanding its operations to its Public Blockchain. Huobi even has plans for the future expansion of this project. But for all this to succeed, there needs to exist a healthy ecosystem, proper security, and matching technology. At some point in the future, all industries will have their chains. When that time arrives, the goal is to merge them into a single blockchain network.
Huobi also has other plans for expanding its operation for the same project. To be successful in their business, they want a healthy environment with promising technology and proper reliability.
This network would help to connect various business celebrities, gaming financial industry, healthcare, and other institutions. Huobi is also planning to widespread internationally by opening exchanges in different countries. These countries are the U.S., South Korea, and also many projects in the future. By working together as a team it is planning to expand Blockchain technology to reach masses