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Huobi Global invests in Cube to promote the development of Web 3.0 ecosystem strategy

Huobi Global announces an investment in Cube, a public chain that provides innovative infrastructure for Web 3.0 and the metaverse. The event was announced at CoinDesk’s Consensus 2022 in Austin, Texas, to affirm Huobi Global’s strategic innovations in its efforts to expand its Web 3.0 ecosystem.

Cube is a new, modular, permissionless and EVM compatible public chain with a multi-layer and multi-chain architecture-based design. It delivers breakthrough technologies such as proprietary collaborative rollups, chaos consensus, non-linear infinite storage, and the innovative Time Crossing protocol for Web 3.0 infrastructure. Since its mainnet was launched earlier this week, Cube has garnered a huge amount of positive feedback.

To help more people move to Web 3.0, Huobi Global focuses on capturing and developing Web 3.0 infrastructure and metaverse where there is huge potential in explosive growth of blockchain applications such as NFTs, DeFi and GameFi.

Huobi Global has chosen Cube as one of the public chains that we will invest in according to our Web 3.0 development strategy. In the near future, we will continue to invest in more public chains as we are optimistic about Web 3.0 and committed to improving our infrastructure,”.

Lily Zhang, CFO of Huobi Global

In fact, the entire industry acknowledges that Web 3.0 is the future of the Internet, with blockchain and public chains serving as the core technology and infrastructure. Following the emergence of NFT, DeFi and other blockchain applications, many public chains have launched in the market.

However, the explosive growth of GameFi, DeFi, and NFTs has resulted in an exponential increase in transaction volumes on these mining chains. Initial chains have been unable to meet user demand for timeliness or cost-effectiveness, for example, Ethereum takes around 10 minutes to complete transactions during peak times and gas fees can add up to several hundred dollars.

Also, how to solve the blockchain trilemma – a problem that has been around for a long time and is widely believed in the community that decentralized networks can only bring two out of three benefits at any given time. to decentralization, security and scalability – also a common challenge for developers.

To better meet the needs of the industry, Cube uses a high-performance layer 1 blockchain as the basis to solve the blockchain scaling challenge and provide users with an efficient, low-cost, and secure trading environment.

It divides the blockchain vertically, adopts a multi-layered architecture, divides the blockchain’s resolving power, execution, and data availability, and optimizes them according to their respective characteristics.

With a cross-chain protocol that supports cross-chain DeFi calls, Cube is compatible with the Cosmos ecosystem. Under current design, Cube can process around 3000 transactions per second and is expected to exceed 5,000 transactions by the end of September 2022, while Rollup and NFT availability requirements guarantee a solution. Efficient and reliable full-stack solution for Web 3.0 development.

About Huobi Global

Founded in 2013, Huobi Global is one of the world’s leading corporations in the world’s leading cryptocurrency sector, owning tens of millions of users across five continents and 160 countries.

Huobi is always doing its best to contribute to the creation of financial freedom and new wealth globally. Over the years, Huobi has consistently led the cryptocurrency industry with spot, derivatives and Bitcoin transactions. Our infrastructure, operations, and services are all built and operated around processes and standards that prioritize user safety and industry compliance, unparalleled global customer support and capabilities. great thanks to local experts. This allows us to provide a unique, truly customer-first, secure and sustainable trading environment for all our users, helping them achieve long-term success.

For more information, visit www.huobi.com

About Cube

Cube is a high-performance, extensible and modular layer 1 public chains capable of supporting multi-chain and cross-chain architectures. Compatible with the EVM and Cosmos ecosystems, Cube is actively engaged in the development of decentralized cross-chain protocols and Web 3.0 infrastructure to bring users the next generation of multi-chain experience.