SINGAPORE, Dec. 07, 2023 (GLOBE NEWSWIRE) -- HeLa Labs, a hi-tech company renowned for its next-generation layer one blockchain network with privacy-preserving and consensus protocols, has announced its marks as Web3 category winner in Huawei Cloud Startup Ignite Competition.
Andy Ting, Co-founder of HeLa Labs, stated, "This achievement demonstrates our team's dedication to innovation and commitment to advancing Web3 technology. Joining Huawei Cloud's platform marks a crucial milestone in our journey, propelling us towards global markets."
HeLa Labs was awarded the Web3 category winner title due to its exceptional contributions to the blockchain technology sector, with judges citing the capacity of its layer 1 blockchain network to bridge the gap between Web2 and Web3 through features such as privacy-preserving protocols, decentralized identity (DID), and a native built stable coin for gas fees, which set it apart from existing chains. This achievement reaffirms HeLa Labs' commitment to innovation and strengthens its presence in the blockchain sector.
Leo Jiang, Chief Digital officer of Huawei Cloud's startup program commended, “We recognize HeLa Labs for their exceptional achievements during the competition. They have shown great potential to make a profound impact on the Web3 tech landscape.”
This accomplishment underscores HeLa Labs' unwavering commitment to advancing technology, and leveraging Huawei Cloud's resources to attain new heights of success. HeLa Labs' triumph in the Huawei Cloud Startup Ignite Competition serves as a significant milestone for the company and an inspiration to tech startups worldwide.
For more about HeLa Labs' projects and their win, please visit https://helalabs.com/
About Huawei Cloud:
Huawei Cloud translates Huawei's ICT prowess over three decades into reliable, secure, and sustainable cloud services for customers, partners, and developers.
Since 2016, Huawei Cloud has worked with partners to provide cloud services for more than 3,000 European customers across industries in the journey of digital transformation and global expansion.
About HeLa Labs:
HeLa Labs, the pioneering modular Layer 1 blockchain powered by a fiat-backed stablecoin, has developed by renowned scientists and engineers in collaboration with A*STAR IHPC. Our collaborative efforts aim to achieve real-world adoption and bring traditional web2 solutions to web3 platforms. We seek to transform industries through a modular design, privacy-preserving transactions, multi-level decentralized identity, and the incorporation of a built-in stable coin for transaction fees.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ae3a746c-76e5-4ca4-9e78-112116a51784
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