Technological advancements and revolutions on the internet, has introduced so many mind-blowing transformations to the world at large. Before business and trade became an online phenomenon, the traditional means of trade and payment was in vogue. As trade advanced, there came the need to improve on current trade systems, this ushered in the online business platforms, otherwise known as eCommerce. Since the invention of eCommerce, many people found the platform really interesting because of the ease and convenience it came with, this online trade also has its own kind of currency known as a cryptocurrency. As people became more aware of the currency and the promises that came with it, it garnered many users. As no invention is without its deficiency, the cryptocurrency also has its challenges and problems. New coins are daily invented to augment users satisfaction and enhance transaction speed, in view of tackling the challenges facing the crypto market, the HYCON coin is introduced to provide solutions to the problems of cryptocurrencies.
VISION OF HYCON
This vision held by the infinity project, will be carried out in three is phases, the phases are as follows :
- introducing the HYCON coin
- the transparent infinity platform for customizable enterprise blockchain solutions and
- a decentralized cryptocurrency exchange platform.
ABOUT HYCON
HYCON is a fast and secure cryptocurrency that makes use of the SPECTRE protocol to enable high transaction speed while maintaining security. The infinity project will introduce a new currency called HYCON, developed to address some of the challenges facing the existing blockchain technology. A blockchain in itself is a shared public ledger of transactions, that records and maintains that record of all transactions made on the system, from the start of the transaction to the present moment or ongoing transaction.
Contradicting the Nakamoto protocol used for consensus on the Bitcoin blockchain, HYCON is going to implement a protocol called SPECTRE to maintain consensus. SPECTRE generalizes a blockchain into the form of a Directed Acyclic Graph(DAG) by employing a voting algorithm between pairs of blocks, in order to specify their order in a pairwise manner. For instance, block Z should be applied before block D or block D before Z.
CORE GOALS OF THE INFINITY PROJECT
While planning the infinity project, within the team, the following questions were raised :
given the current limitations of existing cryptocurrencies, what are the needs and wants of the market and how can the solutions be provided
what tools are important for a cryptocurrency to be widely adopted and I ejected into the wider economy?
Having this questions in mind, the infinity project team conducted a thorough analysis on the existing blockchains, including Bitcoin, Ethereum and a whole lot of other promising alternative coins, to discover the strength and weakness of each of the project. After this analysis, it was difficult for the team to find a perfect and suiting project that agrees with the initial questions asked earlier. Therefore the infinity project team embarked on a continuous and extensive research on new technologies and algorithms that are more perfect for real-world mass adoption, to help meet the goal that the infinity project team has laid down for itself. While the research was ongoing, the infinity team, started at the same time to draft the basic framework of its project, and came up with the following core goals :Identifying market needs for cryptocurrency: the infinity project is committed to enhancing and improving on the existing blockchain technology, by inventing a new blockchain technology that meets the needs of the people for it.
Developing a cryptocurrency that is flexible: following the rigidity of the current blockchain, the infinity project will provide a blockchain technology ecosystem that can adjust to any market situation without phasing out.
Creating a user-centric blockchain platform: it will provide a blockchain technology that is completely committed to fulfilling the desires of the users. A blockchain that is all about the user.
Develop an ecosystem that promotes sustainable innovations: the infinity ecosystem, is one that can be sustained, giving room for more growth and creation of innovative ideas.
Investigate methods for a decentralized cryptocurrency exchange: the decentralized platform invented to replace the centralized ones are thoroughly searched to ensure it's able to serve its purpose.
SUMMARY
Ever since the invention of the cryptocurrency, otherwise known as digital currency, millions of users have tried to adopt the new systems. Being a new kind of currency and one that lots of users are not yet familiar with, it becomes necessary for platforms to established in order to guide users and help them in their areas of difficulties. In line with the aforementioned goal, the HYCON coin was invented to further enhance and facilitate trades and payments for users.
TEAM
ROADMAP
Website: https://hycon.io
Whitepaper: https://hycon.io/doc/whitepaper1.2.2_en.pdf
Facebook: https://www.facebook.com/teamHycon
Telegram: https://t.me/teamhycon
Twitter: https://twitter.com/teamhycon
Reddit: https://www.reddit.com/r/HYCON/
Steemit: https://steemit.com/@hycon
Writer: xratedx
bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2257524
email: [email protected]