HShare - Bringing Together Blockchain-Powered & Blockless Distributed Systems
HShare (HSR) is a cryptocurrency that was released in 2017 and now has a market cap of $287 million (CoinMarketCap), which is in the top 100 crypto market caps. Combined with daily trading volume in excess of $10 million, this indicates that HShare is popular and important to know about if you are a cryptocurrency enthusiast, investor or trader. This crypto is supposed to be traded in for HCash using a 1:1 ratio. HSR is simply meant to be a placeholder until HCash technology is ready. All HSR will be destroyed after HCash is launched.
The primary goal of HCash is to bridge the gap between blockchain-based and blockless decentralized systems. Most cryptocurrencies like Bitcoin, Litecoin, Ethereum, etc. have a blockchain and utilize blocks, which contain transaction data that has been cryptographically hashed. There are a small amount of cryptocurrencies, including IOTA and Byteball, that don’t use a blockchain and instead use Directed Acyclic Graph (DAG) technology. HCash is the first network that will facilitate transactions and data sharing between blockchain-based and DAG-based cryptocurrencies.
Quantum Resistance Technology
HCash is also supposed to be the first cryptocurrency to introduce quantum resistance technology. Normal computers use electrons that can only exist in the states 0 and 1, i.e. binary. Quantum computers can exist in many more states, and have the potential to process calculations magnitudes faster than modern day computers. This could be a threat to the cryptographic strength of Bitcoin and all other cryptos. It is unclear how HShare will implement quantum resistance, but it is certainly a good idea and may end up proving to be essential as quantum computers come online.
The HCash network will implement proof-of-work (PoW) mining where users can generate coins with their CPUs, GPUs, and ASICs, in addition to proof-of- stake (PoS) where users earn more coins by staking them in their wallet. This will give control of the coin to both miners and coin holders, and a governance system will be implemented which will allow users to vote on HCash protocol changes and on the distribution of funds for network development.
The technology promised by HCash sounds very useful and innovative; HCash would have quantum resistance and connect blockchain-based and DAG-based cryptocurrencies. However, HShare was supposed to be converted to HCash 2 months ago, and the developers have been silent since then. Unfortunately, it seems possible that HCash will never launch, and Binance has removed HShare from their exchange. Investing in HShare seems very risky since HCash and all of its promised technology may never come to fruition.
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This is not advice. Advice should be accepted by your chosen legal counsel only and financial advice should come from a licensed or certified financial professional. As always – do your homework and make decisions based on your own education. Seek information and look into projects before adding to or diversifying your portfolios.
References:
https://coinmarketcap.com/currencies/hshare/
Posted from my blog with SteemPress : https://cryptocoremedia.com/hshare-innovative-new-technology/
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