VICTORIA, Seychelles, Dec. 10, 2020 /PRNewswire/ -- KuCoin Exchange announced on December 9 that HBTC Chain had reached strategic cooperation with TI-Labs, a project of KuCoin Exhange's KuChain, and joined the Cosmos ecosystem co-construction. This cooperation promotes resource sharing, technical communication, blockchain technology application and industrialization among Ti-Labs' members including KuChain, IRISnet and HBTC Chain. Furthermore, the Labs keeps promoting the ecosystem development of Cosmos and other progresses in the whole industry.
Ti-labs is a laboratory initiated by KuChain along with IRISnet. It fully mobilizes the resources behind different projects and provides assistance and support for the future development of Cosmos ecosystem, including concept inspiration, technical support and resource sharing. Ti-labs gets its name from "titanium", a material needed to make spacecraft such as rockets. In the future, Ti-Labs will share and integrate project R&D, ecosystem development and other aspects by holding regular technical meetings, and finally provide forward-looking guidance for the future development direction of each project.
With HBTC Chain joining hands with Ti-Labs, the two sides will carry out in-depth cooperation at many levels:
Co-constructing the Cosmos ecosystem.
With further development of the cryptocurrency market and the outbreak of DeFi, the need to improve asset liquidity and solve performance constraints of a single blockchain system is increasingly strengthening, and cross-chain has also become a race track. The initiator of Ti-Labs, KuChain, innovated and reformed the Cosmos technical framework to fully serve the decentralized financial scene, and contributed the financial resources and experiences that it shares with KuCoin Exchange into the Cosmos ecosystem, thus perfectly completing the ecosystem's application layer. Ti-labs co-initiator IRISnet team deeply participated in the development of Cosmos/IRISnet, and established in 2017 Cosmos China community to spread cross-chain technology; Whereas HBTC Chain, as the new member of Ti-Labs, had its development including Cosmos gene at the very beginning. It has chosen the Tendermint as the underlying framework based on Cosmos and conducted a lot of advanced development, thus realizing the new cryptography based decentralized cross-chain mechanism. Collaboration between the teams involved would allow technology applications to land more quickly and would undoubtedly facilitate Cosmos's ecosystem expansion.
Promoting project incubation.
Ti-Labs promises to assist, support and incubate projects carrying Cosmos gene sequence. Cosmos ecosystem participants will get the adequate support provided by Ti-Labs for commercialization and industrialization. The integration of HBTC Chain can provide further technical support for Ti-Labs projects in terms of cross-chain asset transfer, on-chain stable-coin, DEX, user applications and developer tools, among others. Thus, to help the projects to overcome technical issues and achieve better development through technical consultancy and collaborations with the Labs.
On one hand, HBTC Chain's EVM feature will be helpful in efficiently migrating projects and deploying smart contracts on chain, it can further boost the Cosmos ecosystem by opening up to all types of DeFi projects.
On the other hand, its innovation in elliptic curve digital signature, zero-knowledge proof and trusted multi-party computation allows implementation of the distribution of private key generation for cross-chain assets among all validators, which can balance security and usage convenience. So far, HBTC Chain test net is ready for bi-directional heterogeneous cross-chain communication with BTC, ETH and TRX; as for the functionalities, users can try AMM and order book trading based on Opendex protocol.
The momentum towards a tech- and eco-development-oriented future is unstoppable. The partnership between HBTC Chain and Ti-Labs will facilitate a blossom Cosmos ecosystem, rich resource of project incubation and strong capability in tech innovation, which will further not just benefit the participants of Ti-Labs, but the whole industry.
Built on Cosmos-SDK, KuChain aims to better serve an array of DeFi applications by innovative functionalities and modules including multi-asset, account ID system and auth tree. Contributing its born-with resources from KuCoin Exchange to the Cosmos ecosystem, together with the unique and native Liquidity Sharing Protocol (LSP), KuChain is able to respond to trading queries with high concurrency and frequency. Via its creative on-chain developing incentives, KuChain encourages developers to implement hard-core tech innovation on a long-term horizon. Elsewhere, via initiating Ti-Labs and by the means of IBC and Peggy protocols, KuChain targets to strengthen the Cosmos dev-community and ultimately to complete the Cosmos DeFi application layer.
IRISnet (a.k.a IRIS Hub) is an Interchain Service Hub designed to support the next generation of distributed applications. Built with Cosmos-SDK, IRIS Hub enables cross-chain interoperability through a unified service model, which supports not only token interchain transfer but also trustworthy data consumption and computation invocation across heterogeneous systems. IRIS Hub is the first self evolutionary blockchain launched in the Cosmos ecosystem. IRISnet dev teams include [Bianjie](http://www.bianjie.ai/), a national award-winning blockchain technology team based in Shanghai, and [Tendermint](https://tendermint.com/), the world-famous team that created the Tendermint consensus engine and the Cosmos project.
About HBTC Chain
HBTC Chain, positioned as a "heterogeneous cross-chain DeFi public chain", is an important part of the decentralized financial layout of Binhe Group at the beginning of its establishment in 2018, and is also one of the three core businesses of Bluehelix Group (HBTC Exchange, HBTC Chain, Bluehelix). The main functions and application scenarios include cross-chain asset bridge, OpenDex protocol, and OTC solutions for on-chain assets. The testnet of HBTC Chain has been successfully launched on October 20, 2020 and is running smoothly, and the mainnet will be launched soon.