Ethereum Launches on Huobi: Over 200 Decentralized Apps Now Built on the Network

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The blockchain landscape in China took a significant leap forward when Huobi, one of the nation’s largest digital asset trading platforms, officially launched Ethereum (ETH) trading on May 31, 2017. At noon that day, Huobi opened full support for ETH deposits, withdrawals, and trading—marking a pivotal moment for Ethereum’s adoption in the Chinese market.

This move ended a long-standing gap in the ecosystem: Ethereum previously lacked backing from major Chinese exchanges, which hindered its liquidity and user growth domestically. With Huobi’s support, ETH gained immediate access to millions of active traders, significantly boosting its visibility and usability across Asia.

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The Rise of Ethereum: From Concept to Global Infrastructure

Ethereum was first proposed in 2013 by developer Vitalik Buterin and officially launched in 2015. Unlike Bitcoin, which primarily functions as a decentralized currency, Ethereum is a smart contract-enabled blockchain platform—a foundational layer where developers can build decentralized applications (dApps).

These dApps leverage Ethereum’s core attributes: decentralization, transparency, and immutable record-keeping. Every transaction or contract execution is permanently stored across a distributed network, eliminating the need for intermediaries.

Today, Ethereum stands as the second-largest cryptocurrency by market capitalization, surpassing $20 billion at the time of this writing. More importantly, it has become the most widely adopted smart contract platform globally, with over 200 live decentralized applications already deployed across finance, supply chain, identity verification, and humanitarian aid sectors.

Strategic Evaluation Behind Huobi’s Decision

Huobi’s decision to list ETH wasn’t impulsive. According to朱嘉伟 (Zhu Jiawei), COO of Huobi, the platform’s blockchain research team conducted a rigorous two-year analysis of dozens of blockchain assets. They developed a quantitative evaluation model based on five key dimensions:

Using nearly 30 distinct metrics within these categories, each blockchain asset was scored objectively. Only when Ethereum consistently met or exceeded Huobi’s threshold across all areas did the team approve its listing.

This data-driven approach underscores a growing trend among leading exchanges: prioritizing long-term value and technological robustness over short-term speculation.

Introducing the Innovation Zone: A Gateway for Emerging Blockchain Projects

Alongside the ETH launch, Huobi introduced an Innovation Blockchain Asset Trading Section—a dedicated space for high-potential, cutting-edge blockchain projects. This zone allows users to engage with emerging technologies early while maintaining clear risk disclosures.

Ethereum’s inclusion in this section reflects its dual status: both an established network and a continuously evolving platform. Its ability to support new token standards (like ERC-20 and ERC-721) makes it fertile ground for innovation in areas such as decentralized finance (DeFi) and non-fungible tokens (NFTs)—though those terms weren’t yet mainstream in 2017.

Real-World Adoption: Enterprises and Governments Embrace Ethereum

Ethereum’s appeal extends far beyond retail investors. In early 2017, more than 20 global giants—including JPMorgan Chase, Microsoft, Intel, Thomson Reuters, and the Chicago Mercantile Exchange—founded the Enterprise Ethereum Alliance (EEA). This coalition aims to adapt Ethereum’s open-source protocol for enterprise use cases, such as secure interbank settlements and transparent supply chain tracking.

Even humanitarian organizations are exploring its potential. In May 2017, the United Nations began testing an Ethereum-based system to distribute emergency relief funds more efficiently across borders—ensuring aid reaches beneficiaries without delays or corruption.

In China, institutions like RCM (a subsidiary of China National Palletizing & Minting Corporation) and Ant Financial have also experimented with Ethereum-based solutions. Meanwhile, vibrant developer communities have emerged in Beijing, Shanghai, Shenzhen, and Hangzhou—fueling local innovation and knowledge sharing.

Why Ethereum Outpaces Bitcoin in Flexibility

While Bitcoin remains the pioneer of blockchain technology, Ethereum offers distinct advantages:

These features make Ethereum particularly well-suited for building next-generation financial systems and digital infrastructure.

By mid-2017, the price of one ETH had surged from around $8 in January to over $200—an astonishing rise driven by growing demand and real-world utility. This surge wasn’t just speculative; it reflected increasing confidence in Ethereum’s long-term role as the backbone of a decentralized internet.

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Frequently Asked Questions (FAQ)

Q: Why did Huobi wait until 2017 to list Ethereum?
A: Despite Ethereum launching in 2015, Huobi implemented a strict evaluation process focusing on stability, adoption, and technical maturity. It wasn’t until 2017 that Ethereum met all their criteria for risk, liquidity, and network health.

Q: What are some examples of dApps built on Ethereum?
A: Early dApps included prediction markets like Augur, decentralized exchanges like EtherDelta, and stablecoins like DAI. Later innovations expanded into NFT marketplaces (e.g., CryptoKitties), lending platforms (e.g., Aave), and identity systems.

Q: Is Ethereum safer than other blockchains?
A: Ethereum benefits from extensive peer review, a large developer community, and battle-tested code. While no system is immune to bugs or attacks, its widespread use has led to rapid response protocols and continuous upgrades.

Q: How does smart contract functionality work?
A: Smart contracts are self-executing agreements written in code. Once deployed on Ethereum, they run exactly as programmed—without downtime, censorship, fraud, or third-party interference.

Q: Can governments regulate Ethereum?
A: While individual countries can restrict access or usage within their borders, the decentralized nature of Ethereum means no single entity controls it. Regulatory efforts typically focus on exchanges and user compliance rather than the protocol itself.

Q: What’s the difference between ETH and Bitcoin?
A: Bitcoin is primarily digital money; Ethereum is a programmable blockchain. BTC focuses on value transfer; ETH enables applications that go beyond payments—like automated insurance claims or tokenized real estate.

Looking Ahead: The Future of Decentralized Platforms

Huobi’s integration of Ethereum signaled a broader shift: from viewing cryptocurrencies solely as investment vehicles to recognizing them as foundational technologies. As more businesses explore blockchain solutions, platforms like Ethereum provide the infrastructure needed for trustless collaboration at scale.

Developers continue to enhance Ethereum through upgrades like EIP-1559, sharding, and the transition to Proof-of-Stake (The Merge)—all aimed at improving speed, reducing fees, and increasing sustainability.

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For users and innovators alike, Ethereum represents not just a digital asset but a new paradigm—one where transparency, ownership, and automation redefine how we interact online.

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