Originally published on: December 18, 2024
HashKey Group, a pioneering blockchain developer based in Hong Kong, proudly announced the official launch of its Ethereum layer-2 mainnet on December 18th, marking a significant milestone in blockchain technology.
After a highly successful testnet phase that saw over 860,000 wallet addresses registered, a staggering 24.72 million transactions processed, and active participation from more than 300,000 community members, HashKey Group is set to revolutionize the blockchain landscape.
During the testnet period, a total of 50 ambitious projects were implemented, showcasing the platform’s potential. Laboratory tests demonstrated that the HashKey Chain mainnet achieved a remarkable transaction speed of 400 transactions per second (TPS) and boasted remarkably low gas fees of just 0.1 gwei.
HashKey Chain CEO Kay Lu expressed his enthusiasm for the mainnet launch, stating, “By harnessing the latest OP-Stack and Rollup technology, we have significantly enhanced network capacity to provide users with a seamless experience.”
As of its launch date, HashKey Chain has processed a 24-hour transaction volume of 43,300 transactions with a TPS of 0.5 and minimal gas fees of 0.001 gwei, equivalent to approximately 0.000000001 Ether (ETH).
This milestone comes at a pivotal moment as the Asia-Pacific region witnesses a surge in cryptocurrency and blockchain infrastructure development. Hong Kong, known for its pro-crypto stance, is actively promoting innovative legislation to drive the industry forward.
In a bold move, Hong Kong’s financial regulator recently approved four new virtual asset trading platforms, signaling a promising future for blockchain technology in the region.
Dec. 18th marked a significant day in Hong Kong’s legislative landscape, with the introduction of a bill aimed at regulating stablecoins. If enacted, this legislation would establish comprehensive guidelines for the legal use of stablecoins in Hong Kong, setting a new standard for regulatory clarity.
The launch of the HashKey Chain mainnet signifies a quantum leap for blockchain technology and solidifies Hong Kong’s position as a leading hub for cryptocurrency innovation. As the industry continues to evolve, the future looks bright for HashKey Group and the burgeoning blockchain ecosystem.
