Hong Kong, Dec. 18, 2024 Hong Kong based HashKey Group officially rolled out the mainnet of its Ethereum layer2 Hashkey Chain with a successful testnet phase. Debuting on December 18, the mainnet is set to make blockchain scalable and easier for users through advanced OP-Stack and Rollup technology.
During the testnet, Hashkey Chain recorded impressive numbers: From over 860,000 wallet addresses were created, more than 24.72 million transactions happened and 50 projects were deployed. In lab tests, the platform also reached 400 TPS, and gas fees ranged as low as 0.1 gwei.
Hong Kong Approves New Platforms
In an interview on Wednesday, Hashkey Chain’s CEO Kay Lu highlighted that the new technology was a lot like expanding network capacity for users to have smoother interactions. Hashkey Chain achieved 43,300 transactions turnover, TPS of 0.5 and fees as low as 0.001 gwei in 24 hours before taking off.
“This also creates a secure, efficient, and developer-friendly environment for building transformative decentralized applications on a compliant and innovation-driven public chain.”
That launch dovetails with greater blockchain infrastructure building in the Asia Pacific region, including in Hong Kong, which is becoming crypto friendly in its laws. Hong Kong’s legislative council also read the first time a bill governing stablecoins, a measure aimed at establishing comprehensive laws for digital assets, on the same day.
Also, four additional Virtual Asset Trading Platforms got approved in Hong Kong by its financial regulator, the Securities Futures Commission, cementing the city as a front runner of innovation in bitcoin. The opening of Hashkey Chain, coming live as the city works to become a centre for anchorings in crypto tech and regulation, follows a flurry of blockchain initiatives.
