A company called Hotstuff Labs has just announced a public test version of its new blockchain, Hotstuff L1. You can think of a blockchain as a secure digital record book that powers cryptocurrencies.
This new blockchain is special because it’s built just for DeFi. DeFi, which stands for Decentralized Finance, is a way to do financial things like trading or lending using crypto, without needing a bank. Hotstuff L1 is a Layer 1 blockchain, which means it’s a main, fundamental network, like Bitcoin or Ethereum.
It uses a special technology built by the team, called DracoBFT, to make sure everything runs smoothly and securely. The rules that computers on the network use to agree on transactions are called a consensus protocol.
Think of It Like Uber for Money
Most blockchains are made for general purposes, meaning you can build almost anything on them. But Hotstuff L1 is different. It’s designed specifically to connect crypto trading with real-world money systems.
Imagine it like a ride-sharing app like Uber. Instead of matching you with a driver, Hotstuff L1 matches your financial needs with a service provider who can help. These providers are a key part of the network.
Special Computers That Do More Than Just Secure the Network
On a normal blockchain, computers called validators work to approve transactions and keep the network secure. On Hotstuff L1, validators can do much more. They can also act as gateways to real-world financial services.
This means that approved validators can earn money by offering services like:
- Helping people exchange regular money (like US Dollars) for crypto and back again. These are often called on/off-ramps.
- Powering systems for sending money between different countries.
- Offering payment cards or local bank accounts connected to crypto.
- Connecting users to different currencies around the world.
The network automatically routes a user’s request to the best validator for the job, based on their performance and reputation. It uses special technology to verify everything securely, without you having to trust a single company.
“Most chains validate blocks. Hotstuff validates and delivers trustless access to money. It’s the Uber for financial validators, routing every flow to the right provider,” said Vyom Sharma, the CEO of Hotstuff Labs.
You Can Try It Now!
The public test version (called a testnet) of Hotstuff L1 is now live. This means anyone can try it out and help test it before it’s officially released.
It is open for:
- Traders: To test out the trading systems built directly on the blockchain.
- Builders and Companies: To see how they can create new financial tools and services on the network.
- Network Operators: To try running a validator computer to help support the network and test its performance.
Get Started and Learn More
- Website: https://hotstuff.trade
- X (Twitter): https://x.com/tradehotstuff
- Technical Document: DracoBFT Whitepaper
- Community Chat: https://discord.gg/tradehotstuff
About Hotstuff Labs
Hotstuff Labs is the team building the Hotstuff L1 blockchain. Their goal is to create one single, powerful network that connects high-speed crypto trading with real-world payment systems like sending money abroad and using regular currency.