Huobi Pool Partners with Akash Network
December 21, 2020
4 min read
In the cryptocurrency world, Huobi needs no further introduction, and Huobi Global Exchange is renowned around the world as one of the top two crypto exchanges.
Launched in 2018, Huobi Pool is Huobi Group’s mining and staking division. To date, Huobi Pool has grown staking operations to become the largest staking pool, participating in more than 40 proof of stake (PoS) projects, and is a leading proof of work (PoW) pool. Additionally, Huobi Pool ranked in the top three nodes in more than half of the projects it participated in.
Today, we’re thrilled to announce that Huobi Pool has joined Akash Network as a validator. With global leadership in staking operations and as one of Huobi Group’s fastest growing divisions, Huobi Pool will be a valuable partner as we accelerate development of Akash DeCloud, the world’s first decentralized cloud, for high growth industries including DeFi, decentralized projects, and machine learning/AI, and expand our global ecosystem.
We recently connected with Ding Yuan, Huobi Pool’s Chief Analyst, to learn more about the firm’s approach and perspective, and to find out why they chose to partner with Akash.
Interview with Ding Yuan, Chief Analyst at Huobi Pool
How and why was Huobi Pool created?
Ding: Huobi Group is one of the world’s biggest crypto companies and our business covers almost the entire industry. As an integral part of the industry, the mining pool protects the security of the blockchain network and plays the role of infrastructure in the blockchain world. So Huobi Pool was set up for mining and also, staking business.
How is Houbi Pool affiliated with Huobi exchange?
Ding: Many Huobi exchange users are also Bitcoin miners. Huobi Pool can provide them with, not only mining services, but also liquidity, financial derivatives, and other value-added services in combination with the exchange business.
Besides, dozens of staking services provided by Huobi exchange are actually operated by Huobi Pool. So far, we have provided users with staking services in more than 40 projects including ETH2.0.
What is the goal of the organization?
Ding: Our goal is to provide users with the most professional mining and staking services.
How do you select which projects to work with?
Ding: We will judge a project from different angles. We like a professional and experienced team–the technology should be creative, and the project can really solve problems.
Also, we focus on the economic model and the inflation mechanism.
What motivated you to validate for Akash Network?
Ding: As I mentioned above, we have high requirements for the quality of the project we work with. Akash has an excellent and professional team. The company has good influence and reputation in the Cosmos ecosystem, and the economic model is solid, with no shortcomings.
What’s more, we think Akash can solve real problems.
What types of crypto projects are you excited about, and why?
Ding: The first criteria I consider is a good team. The team needs to be made up of people with expertise across different fields. Then, the project should have special achievements in the technical field. And then, have strong creativity–not just fork others.
How do you envision blockchain changing the world?
Ding: The change that blockchain brings to the world is fundamental. It is different from the invention of the steam engine, which just improved productivity.
Whereas, blockchain technology will transform productivity by decentralization and token economy.
What is your advice for those who want to enter the blockchain industry?
Ding: The first thing is to own bitcoin, because only by holding cryptocurrency, you can really appreciate its magic.
Second, the industry needs you to have more energy and capabilities to capture information, because the speed of development in the blockchain industry is faster than in any others–you need to keep learning.
Finally, the value investment is very important. Don’t throw away your precious coins because of speculation and leveraged trading.
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About Huobi Pool
As a significant part of Huobi Group’s ecological layout, Huobi Pool mainly handles PoW mining, Staking mining and Huobi Pool ECO Exchange. With many public chain nodes and as the largest staking pool and leading PoW pool, Huobi Pool is devoted to providing one-stop financial services to all digital users.
About Akash Network
Akash Network is developing the world’s first and only decentralized cloud computing marketplace, enabling any data center and anyone with a computer to become a cloud provider by offering their unused compute cycles in a safe and frictionless marketplace. Akash DeCloud greatly accelerates scale and price performance for DeFi, decentralized organizations, and high-growth industries like machine learning/AI.
Through Akash’s platform, developers can easily and securely access cloud compute at a cost ten times lower than the current market providers (AWS, Google Cloud, and Microsoft Azure). The platform achieves these benefits by integrating advanced containerization technology with a unique staking model to accelerate adoption.