Huobi Global announced its investment in Cube, a public chains that provides innovative infrastructure for Web 3.0 and metaverse. The event, announced at CoinDesk's Consensus 2022 in Austin, Texas, is intended to confirm Huobi Global's strategic innovations in its efforts to expand its Web 3.0 ecosystem.
Cube is a new public chain, modunlar, without permission and EVM compatible with multi-chain and multi-layer architecture-based design. It offers groundbreaking technologies such as proprietary collaborative rollups, chaos consensus, nonlinear infinite storage, and an innovative Time Crossing protocol for the infrastructure of Web 3.0. 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 and metaverse infrastructures, which have huge potential in the explosive development of blockchain applications such as NFTs, DeFi and GameFi.
"Huobi Global has selected Cube as one of the public chains that we will invest in under 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," said Lily Zhang, Chief Financial Officer of Huobi Global.
In fact, the whole industry recognizes that Web 3.0 is the future of the Internet, with blockchain and public chains acting as core technologies and infrastructure. Accordingly, 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 led to an exponential increase in trading volume across these deposit chains. The initial chains were unable to meet the user's need for timeliness or cost-effectiveness, e.g.: Ethereum takes about 10 minutes to complete the transaction during peak times, and gas fees can be up to several hundred dollars.
In addition, how to solve the blockchain trilemma – a long-standing and community-held problem that decentralized networks can only deliver two out of three benefits at any given time regarding decentralization, security, and scalability – is also a common challenge for developers.
To better meet the industry's needs, Cube uses high-performance layer 1 blockchain as the basis for solving the challenge of blockchain expansion and providing users with an efficient, low-cost and secure trading environment.
It divides blockchain vertically, adopts a multilayered architecture, divides the solvency, execution and availability of blockchain data, and optimizes them according to their respective characteristics.
According to the current design, Cube can process about 3000 Transactions Per Second and is expected to exceed 5,000 transactions by the end of September 2022, and rollup and NFT availability requirements ensure an efficient and reliable full-stack solution for the development of Web 3.0.
About Huobi Global
Founded in 2013, Huobi Global is one of the world's leading corporations in the world's leading cryptocurrency sector, possessing tens of millions of users across five continents and 160 countries.
Huobi has always tried his best to contribute to the creation of financial freedom and new wealth around the globe.
About Cube
Cube is a high-performance, scalable and modular layer 1 public chains, capable of supporting multi-chain and cross-chain structures.
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