The cryptocurrency world is booming by the minute and as each platform competes towards bringing something of value to the table, new developments are being introduced into the ecosystem. While some currencies are cloning others with minor modifications, many are working towards offering the users something that they did not have before.
Hshare is one such platform which has developed itself to offer a solution for bridging the gap between the two most basic type of cryptocurrencies that exist in the blockchain space.
The present blockchain ecosystem hosts the presence of two type of cryptocurrencies—block-based such as Bitcoin and Ethereum and block-less based like IOTA and Byteball. While the former tokens can be and are traded globally on multiple platforms, the latter tokens—owing to their rudiment underlying systems—sometimes can only be circulated within their own blockchains which restricts their free movement in cross-blockchain-systems.
Hshare with its new decentralised, open-source cross-platform currency, Hcash, takes an attempt at changing this scenario. According to the team, the intention of the group is to create a new decentralised and distributed ledger system that will bridge the gap between blockchain-based and block-less based systems, thereby allowing value and information to be circulated freely between different blockchains.
For this, they believe the system requires a new kind of asset that can potentially reflect the value of good and services objectively which is where their cross-platform currency comes in.
What is Hcash?
The Hcash platform has been designed by the Hshare team to act as a side chain for both the block-based and the block-less based blockchains. The aim of Hcash is to be the carrier of information and value for major blockchains so as to allow the exchange between these systems.
Features of Hcash—Why you should invest in HCash
The Hshare website defines Hcash in terms of 7 Hs:
- Hidden: Hcash adopts the zero-knowledge proof technology to achieve encryption that is bi-directional and therefore ensures anonymity and privacy.
- Hybrid: Hcash’s algorithm has an integrated method that utilizes both the POW and POS protocols. Also, each Hcash holders get to have a say in community-wide decision-making including areas such as protocol update and mining mechanism.
- Hierarchy: Hcash holders determine the use of funds through a real-time, dynamic voting system. The Hcash community runs of DAO governance which is the driving force behind future advancement.
- Hive: Hcash platform implements a dual sidechain—blockchain and DAG systems—to ensure an unrestricted flow of value and information between different blockchain systems.
- Haven: Hcash holders get the freedom to transfer between private and public addresses through their own client panel or wallets.
- Hard: Hcash exhibits a natural advantage over the other existing systems because of the quantum resistance it takes into account from the beginning of the system design.
- Handy: Hcash holders can carry out an unlimited number of transactions for a limited block size irrespective of speed and amount of transfer.
Where can Hcash be implemented?
Most investors like to analyse and evaluate the applications of any new cryptocurrency in order to convince themselves about the profit they potentially stand to gain. The applications of Hcash pertain to everyday life and can be witnessed in sectors such as the Fin Tech sector where advancements in cloud computing, information technology, and the internet are highly valued.
The industrial sector pertaining to the radio frequency trading can also benefit from Hcash since it relies on integrating and linking multiple systems and Hcash claims to offer just that.
In addition, sectors those require computing and storage of large amount of data, data curation, and data transfer stand to benefit from the Hcash platform. The IoT, industrial internet, and big data and AI can also employ Hcash.
Hcash was launched in August 2017 after it successfully conducted an ICO in July. The coin presently trades at $13.41 with a market cap value of $567,570,425.
The maximum supply is 84,000,000 HSR out of which approximately 50.7% is in circulation.
How to buy and store Hcash?
The Hcash cryptocurrency is one of those currencies that cannot be bought directly from fiat or any other exchange. In order to purchase Hcash, a user needs to be in possession of either BTC or ETH which can be traded for HSR on an exchange platform of the user’s choice. The most recommended exchange platform is Coinbase so if that is available in your country, it is safe to trade there.
To store Hcash, the safest option is to buy Ledger Nano S. If that doesn’t suit you, it is recommended that you store Hcash on a hardware wallet.
Hshare appears to present a rather promising vision of the future of the blockchain ecosystem but it would be unfair to say that the project has not been subject to criticism. Since the time it climbed to the top trading coins on CoinMarketCap, Hcash has been called a scam coin in addition to the criticism that the team does not appear to be very active in development. The team claims that Hshare will be converted to Hcash on a 1:1 ratio whenever the development takes place but so little activity is bound to worry the investors.
However, the concept and idea behind the Hcash platform are brilliant where an absolutely integrated blockchain ecosystem will be created with easier and secure information and value being traded among all platforms irrespective of their underlying structure. The features of the currency make up a strong case to convince investors into investing money in the project but the actual value will only be seen after implementation for which it is imperative that the development team notifies the audience about their progress.