In a move to streamline user experience, the exchange has officially updated the chain name designation for Huobi Eco Chain (HECO) assets. The label, previously known as "HRC20" on deposit and withdrawal pages, has been rebranded to "HECO." This change is purely cosmetic and does not impact the trading, depositing, or withdrawing of supported assets on the chain.
The HECO network is a prominent blockchain that facilitates fast and low-cost transactions. It currently supports ten major digital assets, including HT, HUSD, BTC, ETH, and several other leading cryptocurrencies. Users can seamlessly perform deposit and withdrawal operations for these tokens using the HECO chain infrastructure.
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This article provides a clear breakdown of what the update means for you, which assets are involved, and essential tips for ensuring error-free transactions.
What Is the HECO Chain?
The Huobi Eco Chain (HECO) is an Ethereum-compatible blockchain designed to provide high efficiency and low transaction costs. It enables developers to deploy decentralized applications (dApps) and allows users to transfer assets swiftly. The chain operates using a Proof-of-Staked-Authority (PoSA) consensus mechanism, balancing decentralization with performance.
Its native token, HT, plays a key role in network governance and fee payment. By offering a scalable environment, HECO aims to foster a robust ecosystem of financial products and services.
List of Supported Assets on HECO
As of the latest update, the HECO chain supports the following ten digital assets for deposits and withdrawals:
- HT
- HUSD
- BTC (Bitcoin)
- ETH (Ethereum)
- BCH (Bitcoin Cash)
- BSV (Bitcoin SV)
- LTC (Litecoin)
- XTZ (Tezos)
- DOT (Polkadot)
- FIL (Filecoin)
This diverse range includes major stablecoins, store-of-value assets, and smart contract tokens.
Why Was the Chain Name Updated?
The renaming from "HRC20" to "HECO" was implemented to reduce confusion and create a more intuitive user interface. The term "HRC20" was often mistaken for a token standard similar to ERC20, which could lead to user errors during transactions.
Aligning the on-page label with the chain’s common name, "HECO," provides immediate clarity. Users can now more easily identify the correct network when moving their assets, minimizing the risk of mistakes.
How Does This Change Affect Users?
For everyday users, this update has no effect on fund security or functionality. The underlying technology remains unchanged.
- Trading: All spot and derivative trading pairs for these assets continue uninterrupted.
- Deposits: You can still deposit supported tokens to your exchange wallet via the HECO chain.
- Withdrawals: Withdrawing assets to external HECO-compatible wallets operates as before.
The only difference is the label you see on the exchange’s deposit and withdrawal form. Always ensure you select the network that matches the destination address.
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Important Risk提醒提示s for Cross-Chain Transactions
When dealing with multiple blockchains, vigilance is essential. Follow these guidelines to protect your funds:
- Verify the Address: Always double-check that the deposit address you are using is correct and belongs to the intended recipient.
- Confirm the Network: The most critical step is selecting the matching network. Sending an asset on the wrong chain (e.g., sending a HECO-chain asset to an ERC20 address) will likely result in a permanent loss of funds.
- Check Minimum Deposits: Be aware of the minimum deposit amount for each asset. Transactions below this threshold will not be credited to your account.
- Understand Fees: Transaction fees vary by network. Confirm you have enough of the native token (like HT for HECO) to cover gas fees for withdrawals.
Frequently Asked Questions
What is the difference between HECO and HRC20?
HECO refers to the Huobi Eco Chain itself—the blockchain network. HRC20 was simply the label previously used on the exchange's interface to represent this network. The underlying technology is the same; only the displayed name has changed.
Will my existing HECO deposit addresses change?
No, your deposit addresses for assets on the HECO chain remain exactly the same. The renaming is only a visual update on the website and does not affect any on-chain addresses or smart contracts.
I sent funds using the wrong network. What can I do?
Recovering funds sent to the wrong address or on the wrong network is extremely difficult and often impossible. Exchanges may not be able to reverse such transactions. Always triple-check the network and address before confirming any transaction.
Are there any fees associated with this update?
No, the renaming process itself does not incur any fees for users. Standard network gas fees for transactions on the HECO chain still apply as normal.
How can I get help if I have a problem?
If you encounter any issues with deposits or withdrawals, the recommended course of action is to contact the official support team of the exchange you are using. Have your transaction hash (TXID) ready to help them assist you faster.
Is the HECO chain secure?
The HECO chain utilizes a established consensus mechanism and has undergone security audits. However, as with any blockchain, users must practice good security hygiene, such as safeguarding private keys and verifying transaction details.