With Hycon, There will be a Better Blockchain for the Future
With the coming of the blockchain technology, it created a very great impact on the world and its impact has never been seen before. The blockchain technology has been integrated in various aspects of our lives and possibly in the nearest future, it will be implemented in almost all our daily activities. In the beginning of the blockchain technology, we saw the birth of the blockchain 1.0 and it includes the Bitcoin and the Ethereum and they have opened up a lot of opportunities like we have never seen before. It brought about a lot of ideas and projects that will aid the future of humanity on the long term in sectors such as finance, health, education, and other major parts of our lives.
Problems Attached to the Current Blockchain
The current blockchain network has a lot of shortcomings that became more prominent over its long term use and this limited it's integration into our daily lives. Such problems include security, efficiency, scalability, latency, low performance, usability, and adaptability.
One of the major issues that plagued it was the low performance and the high transaction fees that made it so inefficient to be used as a normal payment method for consumers. The current blockchain network has a very slow performance that affects its transactions confirmations that could take hours or even days for a single confirmation to take place. Sometimes the transaction fees could be so high that will now discourage users from doing peer to peer transactions. This is one of the factors that have made the blockchain technology to not be able to be integrated into our major financial transactions as no one will want to either incur a very large charges when sending money or experience a very long delay in such transactions.
With most of the stated above problems, gave a very pressing need for the creation of a platform which is blockchain based and its called HYCON.
What is HYCON
Also known as Hyper Connected Coins, is a very reliable and efficient cryptocurrency that is scalable and very secure and it will be used to speed up transactions processes as it has a very high and max security. It was created to solve most of the problems that faced the current blockchain network and it makes use of the Spectre Protocol, the Cryptonight V7 hash function and the Directed Acyclic Graph ( DAG) in order to create a cryptocurrency that has a lightning speed transaction processing speed while it retains a very high security of these transaction.
With all these protocols in place, it's believed that it will promote the mass adoption of the cryptocurrency into our daily transactions as well as its integration into numerous sectors. It will be able to be used as a medium of payment across numerous merchants, or be used as a form of storage for data as well as other uses.
Features that Make Hycon Unique and Different from other Blockchain Networks.
The major features of the Hycon that makes its more unique from other blockchain networks are very unique and they are the main selling points of this project.
They include,
The SPECTRE protocol
The Directed Acyclic Graph (DAG) chain structure
The Cryptonight V7 hash Algorithm
The SPECTRE protocol
The current blockchain network has a very low transaction confirmation speed that cannot keep up with the current market eg. Bitcoin has an average of 7 transactions per second and Ethereum has about 10 transactions per second. So with the spectre protocol, it will make use of a voting algorithm that can be able to scale up to about 10 blocks per second and this is a number of times faster than most of the current consensus algorithms. So all the transaction done with hycon will be lightning fast and much more efficient and reliable.
The Directed Acyclic Graph (DAG) chain structure
The former blockchain technology made use of the single chain structure that have numerous problems such as transactions delay as well as a very slow speed. So with Hycon, it makes use of the DAG chain structure that will make sure that all the blocks are close to one another, that way, the speed will be increased. This now makes the latency time between the blocks to be very short, now allowing for a faster transactions confirmation speed. As a result, several transactions can be processed per second on the Hycon Platform.
The Cryptonight V7 Hash Algorithm
This is an ASIC resistant hash and it differs from other hash algorithm such as the Blake 2b hash in the fact that it uses a pseudorandom memory read or write operations in its hashing operation and this now leads to a performance in the hycon network to be loosely comparable be it on a CPU or a GPU.
Conclusion
With the coming of the Hycon, it promises to solve all the numerous problems that derail the current blockchain technology with the use of very unique protocols as well as the provision of a very high performance and very scalable, efficient and very high security on the platform.
Token Information:
Token Name: HYCON
Ticker: HYCON
ICO Token Price: 1 HYCON = 0.1000 USD
Total Tokens: 10,000,000,000
Available for Token Sale: 10%
Presale: already concluded
Total Token Distribution:
Public Mining - 70%
Investor - 10%
Ecosystem Development Fund - 5%
Team – 5%
Bounty – 5%
Airdrop – 4%
Corporate Social Responsibility – 1%
Funds from Crowdsale Breakdown:
Research and Development – 70%
Operating Expenses - 8%
Payment Reserves - 7%
Marketing – 6%
Consultant – 4%
Legal and Accounting – 3%
Reserve Fund – 2%
The HYCON Team
This is made up of individuals that are experts in their own fields and they came together to form this great platform.
For more information on HYCON, please visit the following useful links:
Website: https: https://hycon.io/
Whitepaper: https://hycon.io/doc/whitepaper1.2.2_en.pdf
Telegram: https://t.me/teamhycon
Facebook: https://facebook.com/teamhycon
Twitter: https://twitter.com/teamhycon
Reddit: https://reddit.com/r/HYCON
Author - hamzeto
Email - [email protected]