Huncoin Analysis ($HNC)

in huncoin •  11 months ago
The following is not financial advice.

Welcome to back The Scoop!

This is the next post at a place where we share analysis and opinions for interesting coins, tokens and pure gems in the vast landscape of the blockchain world. There's so many coins out there, but not a lot of free information (looking at you, paid groups) and analysis on them. The Scoop aims to change that by sharing and improving the data available for a given coin.

So let's begin!

What is Huncoin?

It's your standard value/payment coin with it's activity mostly reflected in the price movement and volume since the devs are pretty quiet. Interesting story behind it if you read up the intro thread:

https://bitcointalk.org/index.php?topic=2343086

Still not sure what, if any, connection the coin has to the Winter Olympics, but they shill it regardless. They keep all the little things up to date like the nodes, wallet docs, bootstrap, etc. They're very good at documenting the coin. Looks like there was a possible takeover in late 2017, so folks are looking for a sort of revival of Huncoin at this point.

Official website is here:

http://huncoin.org

Quick Technicals

Algo: X13
Difficulty: Digishield
Block time: 60 seconds
Block reward: 40 HNC

Where's the wallet?

Windows wallet link from BCT thread:

https://storage.googleapis.com/wzukusers/user-21637227/documents/576d7ca706747h49hgQ8/HunCoin-Qt-Win.zip

Source code:

https://github.com/huncoin/huncoin

How many of them are they?

According to the BCT thread and CMC, ~31m circulating with a total supply of 35m. No ICO and no premine.

Who's the team?

Not much is known about them, but likely from South Korea.

How is Huncoin different?

It's a coin for Koreans and anyone else that wants to invest. The jury is still out on country coins, though. Fair start is always a good thing to see. Volume is better than most in similar situations and it sounds like lots of people have been holding for a long time now, waiting to see what it's going to do.

Pros

  • fair start
  • locally appealing
  • cheap entry
  • solid documentation

Cons

  • lower ceiling for adoption
  • lack of regular communication
  • unknown roadmap/future

Where is it traded?

It calls CoinExchange home for now:

https://coinmarketcap.com/currencies/huncoin/#markets

The Final

Based on the FA, HNC looks like a high risk with high reward potential if the team begins being more active publicly and building the community up. Picking it up under 15 sats would be bargain or under a 1 cent would be an upper entry while still expecting solid gains as long as the risk shakes out.

Update

There's news of BTC and HNC holders getting a new coin called BitcoinSpeed:

https://medium.com/@jungleebtcs/bitcoinspeed-hard-fork-of-bitcoin-huncoin-upcoming-privacy-coin-7f5289730b9b

Whether it actually materializes or not, we'll have to wait and see.

And that's your scoop!

Remember, absolutely NOTHING you read on this blog, twitter or otherwise content anywhere on the Internet by the authors is financial advice, so DYOR and be responsible!
One more time in case you didn't see the first two: this is NOT financial advice! Also, The Scoop authors may hold coins discussed here which may creates some bias, but we try to be fair.
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