Easily using cryptocurrencies for day-to-day payments is the philosopher's stone of the cryptoindustry. For now this goal has remained unattainable for a host of reasons, including the technical complexity of cryptocurrencies, the lack of familiarity with them among many prospective users and the volatility of most of the popular coins. All of this means that mass adoption of cryptocurrencies seems more trouble than it is worth. But there is another, perhaps even more fundamental obstacle. The slow speed of blockchain transactions makes them unacceptable for the fast-paced world of modern business.
https://www.hoardinvest.com/
In developing its array of cryptocurrency finance services, Hoard has decided to sidestep that issue by carrying out cryptocurrency transactions off-chain, while still retaining their trustless property with an ingenious token economy and protocol. Using this Smaug Protocol as a basis, Hoard wishes to offer its users an array of sophisticated financial services, from a payment solution to a smart decentralised exchange, all accessed through its universal wallet.
Hoard's services will be based on a distributed non-blockchain network of masternodes. Initially, all the masternodes will be controlled by the company. After the HOARD (previously called OAR) token sale, HOARD holders will be able to run their own masternodes by placing their tokens in an escrow smart contract. Those tokens will be seized by the platform if it is determined that their owners are reporting incorrect data maliciously. Masternode operators who participate in good faith and report dubious transactions will, on the other hand, receive block rewards in a proof-of-service mining model. Transactions on this system will also require users to place HOARD tokens in escrow, depositing an amount equal in value to the tokens they wish to move inside this system. Once this is done, it will be possible to move different cryptocurrencies without any blockchain-related delays, while knowing that they are backed up by real cryptocurrency assets on-chain, allowing the participants to withdraw the money they're entitled to at any point in the process.
Users will interact with the Smaug Network through Hoard's multifunctional multi-currency e-wallet. It will exist in mobile, desktop and web app versions. Customers will keep the private keys for each individual currency stored on their wallets. In addition to allowing users to store and receive a variety of coins, the Hoard wallet will be connected to a decentralised exchange and a versatile payment system. The exchange will support trading in many different fiat and cryptocurrencies. It will also grant users access to advanced options, such as rules-based automated trading (with a fine degree of control), monitoring and investing in “baskets” of coins grouped by various criteria, receiving investment signals based on AI sentiment analysis of current market hype and, eventually, ETF trading (if regulators permit it). User assets on the exchange will be protected through air gap computer cold storage.
This exchange will be tied to the payment and withdrawal systems, allowing users to seamlessly convert from any fiat or cryptocurrency to any other they want. Coupled with a system that will allow transfers to individuals without any cryptocurrency wallets based on their contact information, this should vastly enhance the possibilities for everyday cryptocurrency use. Hoard's design is meant to be fully cross-chain compatible, with the use of dedicated smart contracts to integrate its hybrid system with other blockchain platforms.
Hoard hopes to provide the best of both worlds: the speed and convenience of an advanced modern non-blockchain payment system with the security of a blockchain provided by its masternode protocol and token incentives. On top of this, it offers a highly versatile and scalable cryptofinancial solution that would make it vastly easier for merchants and ordinary people to interact with the blockchain economy. Its cross-chain capability should help unify the fragmented cryptocurrency market.
https://www.hoardinvest.com/
The team behind Hoard includes a number of financial, IT and fintech veterans. Their knowhow was used to design a product that would match the needs and preferences of both experienced traders and a broader market. A public beta version of Hoard's app is now available on Google Play and App Store. Hoard plans to integrate its services with existing financial institutions with the help of its partner, INV Fintech. To ease the way for this integration, it promises to be fully compliant with KYC/AML requirements and other relevant financial regulations.
Blockchain performance and scalability issues will have to be resolved for cryptocurrencies to become a truly viable means of payment. Hoard offers an ingenious solution to this problem by sidestepping the blockchain for the main transactions, while still using it to ensure good behaviour. Its approach is certainly experimental and relies on its technology and token economy working as desired. This is very much a bleeding-edge project, with all the foreseeable and unforeseeable risks that implies.
Rewards require taking risks, though, and on the whole its approach appears sound enough to work. As a project, Hoard suffers somewhat from haphazard marketing efforts and possible branding issues (there is another cryptocurrency project called Hoard; also, some of this project's documentation still refers to its token as OAR). However, those issues should not be too difficult to overcome, given a solid base and a concerted effort on the part of its team. If it pulls through, Hoard might just be the project to make the dream of everyday cryptocurrency payments come true.
Website: https://www.hoardinvest.com/
WhitePaper: https://token.hoardinvest.com/whitepaper.pdf
Telegram: https://t.me/hoardinvest
Facebook: https://www.facebook.com/HoardInvest/
Twitter: https://twitter.com/Hoard
Medium: https://medium.com/@Hoard
ANN: https://bitcointalk.org/index.php?topic=5029049.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
This article was created in exchange for a potential token reward through Bounty0x
Bounty0x username : the1arty
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.
