Introduction
Centuries ago, means of trade was the “Trade by barter” system of exchange in which participants are directly involved in a transaction involving the direct exchange of goods or services for other goods or services. This system was utmost undesirable- time taking, stressful etc... As we all know a new system of exchange came in to solve the problem contained with the trade by barter system of exchange, ‘Money’ was introduced into the system of trading. We now exchange goods or services for money. The introduction of money managed to eliminate so many of the problems engulfed in the trade by barter system, quite a handful to mention.
Money in recent years has had so many transformations in a way to further ease and improve trade exchange; a cashless system (tangible currency or handheld currency) of exchange came into limelight like the mobile banking and cryptocurrency. Cryptocurrency was introduced; which are digital numbers that are moved around the Internet basically birthed by the blockchain technology.
Blockchain technology itself is an increasing list of records linked together by cryptography readable to the public as cryptocurrency. The present world of blockchain technology has a handful of limitation that hinders its growth. They are ; the rate at which data is transferred through a system, latency, size and bandwidth, security, wasted resources, usability, versioning, hardforks and multiple chains.
So now, imagine an innovative development that can trash these problems in the blockchain industry at a go, would be great right?
The INFINITY PROJECT is introducing a new currency called HYCON designed and developed to tackle the above mentioned problems in the blockchain industry. (for full detail of the problems; the Hycon infinity project whitepaper link is included below in this article) . The goal of Hycon infinity project is set to overcome the certain amounts of limitations related to blockchain technology. Highlighting some of their core goals in the eventuality of the HYCON project.
The hycon infinity project a decentralized platform proposed by a set of experts who has made research and studied immensely on proffering lasting solutions in the blockchain technology. The vision of the Infinity Project is to provide a fast, secure, scalable, and user-centric blockchain and cryptocurrency ecosystem available for mass adoption. With the project’s goals and imminent implementation I have little or no doubt that the HYCON INFINITY PROJECT will be the new look of blockchain technology an its global adoption.
The HYCON infinity project has planned for a 3 phase roll-out:
HYCON COIN ‘HYC’:
A fast, secured and reliable cryptocurrency that makes use of the CONCENSUS PROTOCOL–‘SPECTRE PROTOCOL’ to enable high transaction speeds simultaneously maintaining security which can also be exchanged with the tokens like bitcoin and ethereum..
HYCON WALLET GUI: A full node running the HYCON software has access to a locally hosted web GUI allowing for wallet operations, transactions, and blockchain exploration. The GUI was written using react to allow for a lightweight high-performance interface.
HYCON WALLET: HYCON wallets employ industry standard elliptic curve cryptography methods for transaction signing sep256k [33], as well as implementing mnemonic codes for wallet recovery as specified by BIP 39 [40] to allow for ease of integration for third party wallet providers.
The HYCON INFINITY PROJECT in the blосkсhаіn есоѕуѕtеm will bring a consensus protocol called the Spectre Protocol асrоѕѕ thе сhаіn аnd mаkіng transactions faster аnd еаѕіеr. Thе соnvеnіеnсе аnd еffісіеnсу that wіll ассоmраnу thе іntеgrаtіоn оf Hycon will however help in fоѕtеrіng thе mаѕѕ аdорtіоn of cryptocurrency globally and the growth of blockchain technology itself.
Links For more information:
Website: https://hycon.io/
Whitepaper: https://hycon.io/doc/whitepaper1.2.2_en.pdf
Facebook: https://www.facebook.com/teamHycon/
Twitter: https: // twitter. com / teamhycon
Telegram: https://t.me/teamhycon
Medium: https://medium.com/@teamhycon
About Author
Author: yaksonfella
Bitcointalk profile link:https://bitcointalk.org/index.php?action=profile;u=2322601
