Yeah, well we were told that blockchain is unhackable. We believed it. But guess what? It was not like that for the entire time. Yes, it is true that Blockchain uses a pretty unique-secured technology, but it has its own type of vulnerabilities. And that brings some worst nightmares for the average innocent user, losing a lot of money. It’s a threat that’s growing exponentially every year. And the data supports that.
In 2020 alone, Users lost $3.8 Billion from their wallets. In 2019, the numbers were $2 billion. As the world rapidly embraces blockchain technology, Blockchain security is a real threat that we can’t ignore.
Luckily, there are some crypto projects being launched that are dedicated to blockchain security. One of such native blockchain projects is being launched and it is ensuring the highest standard of security. Let's see how Hashbit tries to solve the issues.
Hashbit
Hashbit is a crypto project focused on crypto security. It might sound like just another basic crypto project, but what makes Hashbit unique is, it has its own self-dependent ecosystem. So, it doesn't have to rely on any third-party wallets, exchanges or marketplace, which brings the chance of data breaching to zero.
How Hashbit overcomes existing issues:
There still exist multiple issues in current blockchain. For exmaple,
The Handling of blockchain has always been an issue as it takes very huge computing resources to operate. It consumes a lot of electricity as well. But in Hashbit, it can run in raspberry pi, using only 20% of its resources. Which solves a very complex issue of hardware. Hashbit provides a whopping 30x faster speed than Bitcoin, with just 30sec block time.
Hashbit can be used in cross-platforms like web, apps etc.
Solving the Blockchain Security Issues: But How?
If we look at the data breaching incident we can see that most of the breaching happens on the way of transferring data using private keys or so but Hashbit uses only with own wallet. Which keeps everything secured.
Utilizing the Proof of Stake model used by HBIT, network security is governed by peers having a stake in the network. The incentives provided by this algorithm do not promote centralization in the same way that Proof of Work algorithms do, and data shows that the HBIT network has remained highly decentralized since its inception: a large number of unique accounts are contributing blocks to the network.
Hashbit Features
Here are some of the unique features that Hashbit is aiming to provide:
HBIT Messenger: HBIT Messenger, available directly in the HBIT wallet, allows each user to send and receive encrypted messages to other users, where only the sender and recipient can read the content in clear text. Everything is always decentralized and the data on the Blockchain. All transactions are in real time, and we can interact with our friends in complete security and privacy without the use of external applications.
HBIT Group Chat: The group chat, present in the frontend, is an example of how the blockchain can be used to create decentralized applications or services. HBIT group chat allows each user to enter a message visible to all, in a few seconds, with commissions between 0.00001 and 0.00004 HBIT. Confirm and chat visible in seconds.
HBIT Pay: Unlike the POS, HBIT Pay allows you to accept online payments, whether it is a website, a shop, a game or an application, with a few lines of code you can accept payments in HBIT, in seconds, and in complete safety. As for the POS, over 160 local currencies are also supported here with the real-time exchange.
HBIT Voting System: The voting system allows each user to launch a survey on the Blockchain, and allows each user
to vote. Using the HBIT Blockchain, votes cannot in any way be tampered with, real-time voting after the vote has been confirmed in the blockchain. This system can be used by any type of local or national voting agency by entering specific parameters that can be found and implemented using the http API.
Assets DEX: The DEX allows you to buy and sell the assets present in the Blockchain with HBIT.The listing is automatic and once the asset has been created it is automatically entered in the DEX, where it is immediately possible to enter purchase and sale orders. As with most transactions, placing orders costs just 0.00001 HBIT in fees.
Completes a security cycle: As we are saying the secure HBIT cycle, it consists of two major parts. Let’s talk about them- The HBIT token and The HBIT Marketplace. Let's talk about them.
Token
Hashbit got a fully functional token as its own. It’s called HBIT Blockchain. Let’s take look at its spec sheet:
- Blocks: 608391
- HBIT Price: $0.00007406
- Active Wallets: 50072
- Transactions: 1345592
- Assets: 177
- Status: UP TO DATE
Exchange: Hashbit has its own independent cryptocurrency exchange market. Featuring 10 top-tier coins. This is a complete breakthrough. Not all coins have exchanges of their own. So, as it has its own exchange, all the transactional data remains within the same network. This also makes it more secure. It's also part of the HBIT ecosystem, making HBIT Coin superior.
Finally, we can say that HBIT is here to serve a very specific purpose, which is crypto security. And it does it very well. Also, some upcoming features will make this project literally unstoppable.