HDAC — Transaction Innovation

Good day dear readers,

Today I am really excited to review HDAC project. I am a big fan of IoT (Internet of things — https://en.wikipedia.org/wiki/Internet_of_things) and I believe it is our future. HDAC decided to upgrade IoT to blockchain protocol. That way already perfect system will become impeccable (IMHO).

Briefly about Hdac: Hdac (Hyundai Digital Asset Currency) is an IoT contract platform based on the blockchain, which not only exchanges but also can restrict the usage according to the purpose as it is ‘Smart Coin’ which controls the connected devices. Moreover, what is also very important Hdac is Backed by Hyundai BS&C and based in Switzerland.

How it will work? Actually it is really big topic, and unfortunately I am not so good engineer to explain that very good, full details you can find in whitepapers (https://github.com/Hdactech/Hdac/wiki/Hdac-Technical-Whitepaper) and blueprint of HDAC (https://hdac.io/resources/14/pdf/Hdac%20blueprint.pdf). But, in easy words: HDAC creating a reliable ecosystem in which transaction services run across the general Hdac space and the private, purpose-built objective blockchains by configuring the private and public blockchains so they are interconnected.

My main question about technical side would be security? Is it safe to trust all your devices, IoT, Clouds, Mobiles and so on to blockchain? And HDAC gives an answer — However, in order to achieve such a positive outcome, the connectivity between devices and reliability must be ensured. In other words, eliminating the distrust and security threats implied by the convenience of Internet connection is the top priority. So there should be no issues with security, however I would wait for a system tests and reviews from a IT guys.

What advantages will give you usage of Hdac platform?

• No limitations
• Convenient installation and configuration functions
• Security
• Speed

Hdac is based on and improved from MultiChain, which is a blockchain improved from Bitcoin. Hdac has specifically explored blockchains to efficiently support IoT environments and to provide various services quickly and effectively to private blockchains. We will also set up the appropriate blockchain as MultiChain and make improvements. Therefore, Hdac has some of the characteristic of bitcoin blockchain as well as MultiChain’s optimized characteristics for private blockchains. Hdac will provide a basis for acting as a platform for the IoT. It can be applied to various service fields such as IoT, distribution, logistics, and public data management based on fast transaction processing speeds and transaction scalability. Bitcoin generates one block every 10 minutes, and Ethereum generates one block every 12 seconds. When considering the time that is shared on the network, it takes one to two minutes or more to check the outcome of the transfer transaction. Considering this, Bitcoin processes about 7 transactions per second [TPS] and Ethereum processes about 25 TPS. In particular, Bitcoin is limited to a maximum of 1MB in the current block size, and an alternative is proposed to increase the block size through SegWit2x

How you can see from table above Hdac blockchain will be quite different from Bitcoin and Ethereum. Hdac will use new new PoW mining algorithm (ePoW) that reduces mining monopolization and 3-minute blocks, amongst other differentiating features. It also introduces the concept of IoT contract, which allows a Hdac token to be repurposed for a specific function. For instance, a Hdac token can be turned to function as the unique key to start a smart car, or a smart home device. — Sound cool isn’t? As well transaction speed is really impressing starting from 160 tx/sec (what is already 22 times faster than BTC and 6 times faster than ETH) and up to 1000 tx/sec, what sound unbelievable for now. There are a lot of interesting technical things that you can find here: https://github.com/Hdactech/Hdac/wiki/Hdac-Technical-Whitepaper

ICO and Token sale — Hdac called that TGE (Token Generation Event) ICO will start very-very soon, in less than 20 minutes. 27 Nov 2017 09:00 UTC. And will run till 22 Dec 2017 23:50 UTC in hard cap won’t be reached first.

Target is 6,000BTC (Six thousand Bitcoins) aprox. 57 400 000 USD (27NOV17–1BTC is 9,570USD) Provided exchange rate is 2,200 DAC (400 DAC bonus included) tokens for 0,1 BTC, it makes price of approximately 0,44 USD for 1 DAC. Minimum participating value is 0,1 BTC as well. Total amount issued will be 12 billion DAC and will be allocated like that:

What is important: You can exchange just BTC to DAC, so no ETH is accepted. And almost tradition: US, China, and Singapore citizen and resident are restricted to participate in Hdac TGE. Also you will need to provide KYC / AML, so be ready to share some certain level information with Hdac. (KYC — Know your customer, AML — anti-money laundering)

Resume: It is one of the best project nowadays, with great idea, and huge company behind project. I would really suggest to invest in Hdac. There are just few cons — acceptance just of BTC and BTC is very expensive now, but I believe even with 9,500 $ worth BTC Hdac will bring you profit very soon.

Hdac website: https://hdac.io/

Whitepaper: https://github.com/Hdactech/Hdac/wiki/Hdac-Technical-Whitepaper

Blueprint: https://hdac.io/resources/14/pdf/Hdac%20blueprint.pdf

Video about Hdac: https://www.youtube.com/watch?v=nVCyZVzM3Jo

Author: https://bitcointalk.org/index.php?action=profile;u=1050687