Heco Finished Its Global Node Election

Blockchain project HECO (Huobi ECO Chain) recently held its first global node election. The project’s team thanked the community for its contributions in bringing the project to where it is now, further noting that the election of HECO nodes needs to be carried out.

The move was necessary in order to upgrade HECO management and improve its performance, which is why HECO decided to select 21 major nodes, as well as 11 backup nodes.

Each of the 21 major nodes will receive transaction fees and get management rights over the HECO chain, while backup nodes would only benefit by receiving transaction fees.

It should be noted that this was only the first node election, with more likely to take place at some point in the future, as the chain continues to grow and develop. This time, however, there were certain requirements for everyone who wanted to become a candidate. First, 5,000 HT had to be staged, and a certain application had to be filled.

Fortunately, the project still allowed users to withdraw from the election if they wanted to do so, noting that users can even withdraw from node management if they so desire. Once they do, the staged HT will be released within 15 days from the day of the withdrawal.

Also, all node candidates had to pass KYC. Those who fulfilled these requirements, and were elected, then received an official notification from the project. Given these details, users will be able to use this time to better prepare for the next node election(s), provided that they have plans to participate in those.

The future of HECO nodes

As mentioned, for the initial period, major nodes will receive income from transaction fees and the rights to participate in certain aspects of on-chain management, while the backup nodes only receive the funds from the fees. In the future, however, more rights will be generated, based on node proposals, which is something that the project confirmed on its official node election page. So, those who were selected will have some new features, rights, and benefits to look forward to, as will those who get selected in future elections.

HECO is a very new, revolutionary chain that aims to provide revolutionary features and benefits to nodes, developers, and users alike. It is still in its early days, but great things are expected from it, and it will be interesting to keep track of its development and see how the project continues to mature.

· HECO Website

· HECO Twitter and Telegram Channel (For the latest news)

· HECO Telegram Community

· HECO Discord (Welcome all developers to join!)

· HECO Explorer