Huobi Chain developers have posted a source code for DeFi services-oriented blockchain on GitHub. Later, regulatory control tools are integrated into it, reports CoinDesk.
Part of the technical infrastructure of the project is provided by the Nervos blockchain startup. Company representative Bo Wang explained that the built-in components will allow regulators to control the placement of contracts, asset ownership and transactions.
Regulators and financial institutions will be able to block assets and accounts through sidechains in case of emergency, Wang added.
It is anticipated that these decisions will ensure compliance with anti-money laundering standards.
Supervision nodes will enable regulators to independently run and maintain nodes, extract data, and participate in the ecosystem’s supervision.
Huobi Chain will also provide tools for pre-auditing deployed applications.
It’s worth noting that Rust is noted as a programming language of the Huobi Chain at the GitHub.
Huobi announced the development of the blockchain in July. It was expected that the network code will be open in the III quarter, and the test network will work at the beginning of next year.