Hashkey Announces Ethereum Layer 2 Mainnet Launch Timeline


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Crypto News Squad
Jul 17, 2023

Hashkey Announces Ethereum Layer 2 Mainnet Launch Timeline

According to a recent announcement by Hong Kong-based digital asset services provider HashKey Group on X (formerly Twitter), HashKey Chain will be launched in the fourth quarter of 2024. The post, titled “Coming Soon,” was accompanied by an image revealing the Ethereum Layer 2 mainnet launch timeline.

Hashkey Chain Launch Timeline

According to Hashkey Chain’s post on X, the mainnet will go live in Q4. Therefore, the launch could be seen sometime between October and December this year. At the 2024 Hong Kong Web3 Festival held in April, HashKey Group announced plans to launch an Ethereum Layer 2 network called HashKey Chain.

Additionally, the network will use zero-knowledge proof technology to enhance the group’s Web3 ecosystem by providing cost-effective, efficient, and developer-friendly on-chain services. Hashkey Chain is set to launch its testnet in six months, with the mainnet set to follow in less than a year.

Additionally, the development of HashKey Chain will be a collaborative effort involving incubators, entrepreneurship camps, venture capitalists, and think tanks. These collaborators include Future3 Campus, ThreeDAO, and HashKey Capital. The initiative aims to provide comprehensive incentives to co-constructors, including technical development, product strategy, resource integration, and financing support.

Additionally, HashKey Group highlights the network’s ability to achieve enhanced scalability and cost efficiency through zero-knowledge proof technology, complemented by a comprehensive developer toolkit and a user-friendly blockchain browser, making it easier for developers to interact with the network.

Security remains a top priority for the mainnet. The company plans to engage the community in security testing and conduct independent code audits to ensure a robust and secure platform. The goal of the network is to create a secure and self-regulating environment for developers, powered by the platform token HSK.

Also Read: EtherFi Foundation Acquires ETHFI, Beats Major Staking Proposal on Ethereum Mainnet

About Ethereum Layer 2 Mainnet

HashKey Chain is expected to offer a wide range of on-chain services including trading, investment, and application distribution. The network aims to attract a significant influx of users and assets into the Web3 ecosystem by showcasing the transformative power of Web3 technologies.

Powering the Ethereum Layer 2 chain will be HashKey Cloud, a web3 infrastructure provider and division of the group. HashKey Cloud has been providing node validation services to over 80 public chains since 2018, demonstrating its expertise and reliability in the blockchain space.

In a recent development, the group has secured a license in Bermuda to launch a new crypto exchange, HashKey Global, which launched on Monday. This follows a successful Series A funding round in January that saw the company raise around $100 million. HashKey Group is now preparing for a new round of funding later this year.

The launch of Ethereum L2 Mainnet represents a significant milestone for HashKey Group as it continues to expand its footprint in the digital asset services industry. It will also provide a scalable, secure, and developer-friendly Ethereum Layer 2 network.

Also Read: Matrixport Reveals Ethereum ETF Launch Timeline, Bernstein Targets ETH at $6,600

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Kritika has over 2 years of experience in the financial news industry. Currently working as a crypto reporter at Coingape, she has consistently demonstrated a mastery of blockchain technology and cryptocurrencies. Kritika combines in-depth analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting by exploring the intersection of emerging trends in finance, technology, and crypto.

The content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.


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