Huobi Launches Huobi Cloud for Establishing and Operating Digital Assets Exchanges
has announced the launch of a new platform, Huobi Cloud, that will allow users to build digital asset exchanges on top of Huobi’s existing platform.
According to a statement shared with Cointelegraph, more than ten multinational companies have already become partners with Huobi Cloud. The new product is aimed at establishing over-the-counter (OTC) and digital asset . Partners will also be able to use the order integration and wallet systems, as well as the asset management and clearing system of the Huobi Global platform. Leon Li, Chairman of Huobi Group, commented on the launch:
“In this era of significant and strong adoption of blockchain technologies, Huobi is looking to share its expertise and experience with the entire blockchain ecosystem and through this, develop the industry further to achieve mutual benefits for all stakeholders.”
According to the statement, Huobi Cloud comprises of four approaches, including exchange, OTC, operational, and eco-system solutions. The exchange solution supports exchange platform publishing, token-related services, hot and cold wallet separation, a risk-trigger mechanism, and other services. The OTC solution verifies the authenticity of the trading of fiat currencies like dollars, dollars, yuan, and cryptocurrencies like (BTC), (ETH), and (USDT).
Founded in 2013, Huobi is currently the world’s largest cryptocurrency exchange in terms of trade volume, with offices in , the U.S., , , and Hong Kong. At the end of June, the company with JD Cloud, a subsidiary of China's largest online retailer JD Group, to explore technology applications and cloud computing, focusing on financial services, Internet of Things (IoT), and supply chain fields.
In June, Huobi also the launch of its new public , the Huboi Chain Project (HCP). According to Huobi Group, the new platform will be used for “value exchange, fundraising, securitization and more.” With the release of HCP, Huobi also aims to decentralize its own operations.
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to date, is making a move into the mining hardware industry. The developer, who besides having contributed to the Core repository also maintains and the Core Community Slack, told bitcoin Magazine he helped set up ASIC chip manufacturing company over the past year, and produced an initial batch of mining hardware, with plans to ship to consumers in early 2018.
“We started a mining project with the aim to bring much needed competition to the market,” BtcDrak said. “We want to ‘make SHA256 great again.’”
The Miners
As listed on the , Halong Mining is launching a product line that consists of one machine for now: the DragonMint 16T. The miner — its name references the Dragons’ Den, an (in)famous private chat channel on the bitcoin Core Community Slack — is said to be equipped with newly designed chips and can produce a total of 16 terahashes per second. Importantly, BtcDrak claims that the machines are about 30 percent more energy efficient than the most efficient ASIC miner on the market right now, Bitmain’s AntMiner S9.
“The DragonMint will be the most advanced miner to date,” he said.
The main bottleneck to entering the ASIC market is typically capital: developing specialized chips from scratch is expensive. While BtcDrak preferred not to disclose much information about Halong Mining for now, he did note that the machines have been produced by a team with “serious expertise.”
According to the developer, Halong Mining has invested $30 million in research and development so far, with over 100 people involved, including chip designers, electronics hardware specialists and software designers.
“Research and development is not cheap, and we need a lot of diverse skills,” BtcDrak explained.
Halong Mining has now produced a prototype batch of DragonMint machines for testing and fine-tuning, BtcDrak said, but these will not be sold to the public due to risk of reverse engineering. He emphasized that the machines are working, however, adding:
“Other companies that want to enter the ASIC mining industry develop everything in simulations, and then the first presale batch tries to pay for small production. But the NRE [non-recurring engineering] and making wafers is fraught with difficulty; the first run is not easy to do well.”
Halong Mining published a of a DragonMint on YouTube today. BtcDrak thinks the first mass-produced run of DragonMint miners will happen within about four months and begin to ship in March of 2018.
Apart from the DragonMint machines, he says Halong Mining will also be selling mining chips separately, in bulk.
The Competition
With the introduction of DragonMint miners, Halong Mining should offer an alternative for Bitmain’s mining hardware, which has dominated the market for the past few years. An estimated 70 percent or more of the hash power on the network today is produced by Bitmain machines, and around half of all hash power is pointed to mining pools that are either owned by or closely affiliated with Bitmain, such as AntPool, BTC.com, ConnectBTC and ViaBTC.
“One manufacturer as a monopoly is not good for bitcoin,” BtcDrak said. “Centralization in mining is a problem regardless of how benevolent you are. If there is a center, then governments and criminals can attack it. Decentralization protects the entire system and all its participants. So I wanted to bring competition.”
Bitmain in particular has also not made itself popular within segments of the bitcoin community over the past years. The Chinese ASIC manufacturer was at the center of the and controversies. And perhaps more importantly, some that the company exerted its influence over the mining ecosystem by allowing or limiting hardware sales based on how hash power from the machines was used. Bitmain has always denied this is the case, however.
Halong Mining wants to distribute ASIC miners “far and wide to help decentralize mining,” BtcDrak said, adding that the company is considering open sourcing its board designs and software. This would help new manufacturers get a foothold in the industry, building on the research already done by Halong Mining over the past year.
BtcDrak concluded:
“There is a lot at stake here. A lot of time and money has been invested … and we have a huge opportunity to bring more diversity to bitcoin mining, and in turn help secure the network more.”
This article was slightly updated, in part to better reflect the scope (and limits) of our knowledge about Halong Mining and the DragonMint machines.
