HECO Announces Mainnet Node Election to Promote Blockchain Infrastructure Globally

Friday 07 May 2021, 6:32 PM AEST - 1 month ago

London, May 6, 2021 – HECO, a decentralized, EVM-compatible public chain, announced today, a node election campaign of HECO Mainnet, aiming to provide users with a high-performance, developer-friendly, and reliable large-scale commercial blockchain infrastructure.

Led by Leo Su, the head of HECO, the platform is open to have 21 major nodes and 11 back up nodes elected by the community. Major nodes are eligible to make operational decisions for platform management. Both major node and back-up node will be rewarded with on-chain transaction fees.

HECO as an open platform, we want to leverage our technical resources and global reach to make blockchain services more accessible, more efficient for developers and general public, said Su. We can bring together technology partners and have community supporters to further drive and generate an in-depth engagement with HECO ecosystem.

To become a candidate, the applicants must pass Know Your Customer procedures and HECO chain requests 5,000 HT staking deposit for any applicant to become an eligible node candidate. The staked application deposit can be returned within 15 days when an applicant decide to withdraw from the node management. All votes received prior to the application withdrawal will be cleared accordingly.

The application will open at 4:00 GMT, May 7th and the approved candidates will receive an official notification after the campaign is closed. Candidates are encouraged to canvass in their communities and voter needs to stake HT to the designated HECO address to make a vote. For security purposes, 7,200 blocks is considered as ONE unit (subject to actual result) and the HT staking volume would be the indicator to differentiate between master and back-up nodes.

About HECO

HECO is an EVM-compatible public chain that provides blockchain developers with an efficient and low-cost on-chain environment for decentralized applications (dApps), smart contracts, and digital assets.

To date, HECO has recorded approximately 4.47 million total addresses with 277 million transaction made on the platform.

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