{"id":127111,"date":"2020-12-05T21:14:30","date_gmt":"2020-12-05T18:14:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/huobi-global-looks-to-become-key-player-in-polkadot-ecosystem\/"},"modified":"2020-12-05T21:14:30","modified_gmt":"2020-12-05T18:14:30","slug":"huobi-global-looks-to-become-key-player-in-polkadot-ecosystem","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/huobi-global-looks-to-become-key-player-in-polkadot-ecosystem\/","title":{"rendered":"# Huobi Global looks to become key player in Polkadot ecosystem"},"content":{"rendered":"

“# Huobi Global looks to become key player in Polkadot ecosystem <\/strong>”
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Two announcements from Huobi Global on Friday indicate that the cryptocurrency exchange is angling to become a key player in the growth of the Polkadot network.\u00a0<\/p>\n

In a pair of blog posts, the Seychelles-based exchange announced a Polkadot Sponsorship program, as well as a $5 million Tether stablecoin fund from the Huobi Innovation Lab to support \u201cdevelopers, event organizers, content creators, and ambassadors\u201d throughout the Polkadot ecosystem. <\/p>\n

The Sponsorship program allows individuals to recommend Polkadot projects for listing in the \u201cPolkadot ecological zone,\u201d a special asset listing section of the Huobi exchange. Sponsors are also reportedly granted an invite to Huobi\u2019s annual conference, as well as to other offline events. <\/p>\n

Sponsors are required to have significant vested interest in the success of Polkadot in order to app<\/a>ly. Minimum requirements include 300,000 DOT tokens (over $1.5 million), of which half must be locked with Huobi as asset certificates. <\/p>\n

Huobi\u2019s investments follow a pair of similar announcements from Polkadot on Thursday. The network launched a decentralized finance-focused alliance whose founding members include oracle provider Chainlink and layer-two network Plasm. <\/p>\n

Additionally, the Web3 Foundation announced the launch of the \u201cThousand Validators Programme,\u201d which will provide education, support, and funding aimed at increasing the number of network validators for the platform. <\/p>\n

The infrastructure and ecological investments come after Polkadot creator Gavin Wood argued on Thursday that Polkadot and Ethereum can co-exist. In comments made at the Polkadot Decoded summit, the programmer, who also co-founded Ethereum, dismissed the idea that there is only enough room for one layer-1 protocol. <\/p>\n

\u201cIf Ethereum ends up being a chain that is sort of bridgeable […] I think that there\u2019s a very good chance that Polkadot and Ethereum will happily coexist,\u201d said Wood. <\/p>\n

However, layer-1 platforms looking to sap developers and projects from Ethereum might be making some false assumptions about network effects. <\/p>\n

In comments today on Twitter<\/a> Larry Sukernik, the head of investments at Grayscale parent company Digital Currency Group, cautioned platforms like Polkadot not to take developer migration for granted:<\/p>\n

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ETH killers often say there are millions of developers who aren\u2019t ideological about which blockchain to build on. That\u2019s their target market. <\/p>\n

What they\u2019re missing is this target market will likely look at existing blockchain devs for help with blockchain selection.<\/p>\n

\u2014 Larry Sukernik (@lsukernik) December 5, 2020<\/a><\/p><\/blockquote>\n