HashKey Eyes Ethereum Layer-2 Network Launch Within One Year

• HashKey Group has made a big announcement.
• The group is keen to launch its new blockchain network soon.
• The development comes a day after HashKey launched a global crypto exchange.

Hong Kong-based digital asset service provider HashKey Group announced on Tuesday the upcoming launch of its Ethereum Layer-2 network, dubbed HashKey Chain.

The news follows HashKey’s global crypto exchange debut on April 8 after acquiring Bermuda’s Comprehensive Digital Asset Investor Protection System License. The company said its new exchange venture aims to rival Coinbase.

Introducing HashKey Chain

According to a statement dated April 9, HashKey Chain will launch as an open, scalable, and “almost borderless” network to expand HashKey’s Web3 ecosystem by providing users with low-cost, efficient, and developer-friendly on-chain services.

“HashKey anticipates seeing a diverse array of on-chain services, including trading, investment, and application deployment, among others. HashKey Chain will catalyze an influx of users and assets into the Web3 realm, allowing more people to witness the transformative power of Web3,” the statement read.

Besides upholding the highest security standards by engaging third-party firms for code audits and encouraging members to participate in regular security testing, HashKey Chain aims to create an ecosystem alliance under collaboration with incubators, VCs, entrepreneurship camps, and “think tanks,” such as Future3 Campus.

The group said the network will be powered by HashKey Cloud, a leading Web3 infrastructure providing node validation services since 2018 and currently covers “80 mainstream public chains.”

Following the announcement, HashKey is keen on moving its new Ethereum Layer-2 network to testnet within the next six months, followed by the mainnet launch “within one year.” The network will leverage HashKey’s platform token HSK to incentivize ecosystem contributors post-launch.

Read how HashKey debuted as the first licensed crypto exchange in Hong Kong:
Hong Kong Hands Landmark First Crypto Exchange License to HashKey

Stay updated on suspicious crypto websites impersonating HashKey and OSL:
Hong Kong Flags Six Crypto Websites Posing as HashKey and OSL