Introducing Hycon; the optimal blockchain solution.

Money keeps evolving, from the days of using stones and cowries, to the days of gold and precious metals. Money which serves as a means of transaction has been evolving throughout time. Money could actually be anything, it could be a piece of paper, even stones, so long it is deemed to have value and it is accepted fully as a legal tender by the society, then it could be seen as money and could be used to transact. Today we are in the digital age and a new form of money has emerged, called crypto-currencies. They are digital currencies that can’t be held physically as the traditional currencies. These new cryptocurrencies are released on an almost daily basis, sharing one unifying concept: the fundamental technological architecture that is the blockchain. Now what is the blockchain?
Blockchain, the word on almost everyone’s lips these days, Blockchain I must say is the order of the day as almost every day, new startups and projects keep coming up with innovative ways to implement this promising technology. I would just give a brief description of what the blockchain is just in case you happen not to know about it. A blockchain is simply a continuously growing list of records (distributed ledger), called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. The data stored on a block on the chain cannot be deleted or altered. For you to update data on the chain, it has to be entered into a new block on the chain, and the previous data being left as it is. The blockchain is still in its early stages and a lot of drawbacks in its technology are holding it from gaining global adoption, but what if I told you that these drawbacks could actually be improved, I recently came across a project called the Infinity project which developed a coin called Hycon (which stands for hyper-connected coin) and through my own thorough research, I must say Hycon has the maximum potential to improve the existing blockchain technology. The Hycon project is designed to address some of the challenges faced by existing blockchain technologies.
Some of the challenges/limitations faced by the blockhain technology include; challenges in throughput, size and bandwidth, security, latency, usability etc. Challenges in throughput where existing blockchains such as bitcoin and ethereum take longer times to process transactions in comparison to already existing centralized payment platforms such as VISA. Also existing blockchains also have the problem of latency which goes hand in hand with throughput as limitation factors, because the maximum throughput of a network is limited by latency between nodes. High latency between nodes on the network between could be problematic as it could lead to longer confirmation times.

What is Hycon?

Hycon is a digital asset built on top of a faster and more scalable blockchain built by the Infinity project team. Making use of the DAG (Directed Acylic structure), Hycon has the capacity to publish several blocks at the same time with the ability to resolve transactions that might conflict together and reject double-spends through the Spectre Consensus algorithm. The infinity project team has analyzed existing blockchain technologies and is actively researching technologies and algorithms and wants to come up with its own blockchain that would fit in and be appropriate for mass adoption.
The Infinity project is centered on 5 major goals:

1. Market need identification
2. Flexible currency
3. User-centric platform
4. Flexible innovation
5. Secure Decentralized Exchange

Benefits of Hycon

Core benefits of Hycon include:

• Faster transaction confirmation times across chains – transactions can be processed in just seconds due to the high volume of blocks registered within that time interval.
• On-chain scalability on the chains – transactional throughput up to 100Tps on a 1Mbit/s connection can be achieved.
• Better latency tolerance – the DAG structure paired with the SPECTRE protocol allows for network latency to be basically removed as a limiting factor on transactional throughput. Blocks which are received out of order can still be ordered based on their implied position in the DAG rather than the time they were received.

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