Decentralized Exchange BHEX Raises $15 Million Before Launch
The decentralized cryptocurrency exchange BHEX has successfully completed an investment round, raising $15 million, Cointelegraph reports.
This investment round was supported by the largest crypto companies, including OKCoin, Huobi Global, and Genesis Capital. The exchange managed to attract more than 70 potential investors, but Blue Helix selected only 40 organizations to take part in the financing round.
It was announced that the official BHEX launch will take place in the coming days. Not only does the project provide the digital assets trading opportunity, but also offers custodial and clearing services supported by decentralized solutions. According to the developers, the platform meets the requirements for decentralization and is fully credible. Decentralized exchanges are becoming increasingly popular due to the advantages in the field of security, as well as due to the improved method of information structuring.
The security of users’ funds will be ensured by the BHPOS consensus algorithm. It will help control assets while maintaining the peer-to-peer principle of the network. The system also allows using hardware and software wallets and a multi-signature mechanism.
As previously reported, James Ju, the former technical director of Huobi and the executive director of Blue Helix, claimed the open-source software Bluehelix had been used in the development of the BHEX exchange.