🤖 Robert
Sep 27 · 2 min read

Huobi Wallet is the latest validator on Loom Basechain 🎉

This is exciting news — and it will have a huge impact on the Chinese Market — as Huobi is one of the largest cryptocurrency exchanges and runs one of the most popular wallets in China.

We’re really happy to be working with these fine folks.

The Vital Role of Validators

Validators play a critical role in keeping the DPoS network honest and secure. Some of the responsibilities of running a validator node include:

  • 100% uptime, redundancy, and top security measures
  • An additional backup location operation
  • Staking a large amount of LOOM tokens for a period of time
  • Actively participating in network governance (voting on software upgrades, changes to the fee structure, etc.)
  • Maintaining properly functioning hardware

Why Run a Node?

Validators don’t propose blocks and verify transactions just for the thrill of it — they get rewarded for their efforts in securing the network. Those that stake tokens and participate will earn rewards from the following sources: guaranteed block rewards, dapp hosting fees, and Transfer Gateway fees.

Read more about validator and staking economics.

Keep your ear to the ground because we got more announcements coming your way, including additional validators, chain upgrades, and more.


Loom Network is the blockchain platform of choice for serious dapp developers — the Universal Layer 2 that provides developers the tools they need to build functional user-facing dapps today.

New to Loom? Start here.

Want to stake your LOOM tokens and help secure Loom Network? Find out how.

And if you enjoyed this article and want to stay in the loop, go ahead and sign up for our private mailing list.

Loom Network

🛸 The production-ready, multichain interop platform for serious dapp developers — http://loomx.io

🤖 Robert

Written by

Content & Community @ Loom Network — The production-ready, multichain interop platform for serious dapp developers 🔗 https://loomx.io

Loom Network

🛸 The production-ready, multichain interop platform for serious dapp developers — http://loomx.io

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade