Hashkey Reveals Ethereum Layer 2 Mainnet Launch Timeline

HashKey Chain is set to make its debut in the final quarter of 2024, according to a recent announcement on X (formerly Twitter) by the Hong Kong-based digital asset services provider, HashKey Group. The post, captioned “Coming Soon,” was accompanied by an image revealing that the Ethereum Layer 2 mainnet launch timeline.

Hashkey Chain Launch Timeline

According to the post on X by Hashkey Chain, the mainnet is set to go live in Q4. Hence, the launch can be witnessed from October through December this year. At the 2024 Hong Kong Web3 Festival held in April, HashKey Group revealed its plans to launch an Ethereum Layer 2 network named HashKey Chain.

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

In addition, the development of HashKey Chain is set to be a collaborative effort involving incubators, entrepreneurship camps, venture capitalists, and think tanks. Among these collaborators are Future3 Campus, ThreeDAO, and HashKey Capital. The initiative aims to provide co-builders with comprehensive incentives, including support in technical development, product strategy, resource integration, and financing.

Furthermore, HashKey Group emphasizes the network’s ability to achieve enhanced scalability and cost efficiency through zero-knowledge proof technology. Hence, this technology is complemented by an extensive developer toolset and a user-friendly blockchain browser, making it easier for developers to engage with the network.

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

Also Read: EtherFi Foundation Buys ETHFI, Passes Major Staking Proposal On Ethereum Mainnet

About The Ethereum Layer 2 Mainnet

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

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

In a recent development, the group secured the necessary license in Bermuda to launch a new crypto exchange, HashKey Global, which commenced operations on Monday. This follows a successful Series A funding round in January, where the company raised nearly $100 million. HashKey Group is now preparing for another 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 sector. 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 To $6,600

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Kritika Mehta

Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.