The new Hoists chain will be built on Ethereum, an open-source blockchain technology developed by the Ethereum Foundation.
The new chain is the first to utilize the Ethereum blockchain, and is slated to be the first of its kind.
Hoist aims to solve one of the biggest problems facing blockchain projects, how to ensure that users receive the best experience possible when it comes to their blockchain transactions.
According to Hoist CEO and co-founder, Alex Lebovitz, the Hoist Chain will be the backbone of a new type of blockchain.
“Hoist is about bringing transparency to a platform that has been dominated by opacity for a long time,” Leboveys stated.
“With the Hoists Chain, we can bring transparency to the whole blockchain, from the initial blockchain, all the way to the chain of trust between users.”