Blockchain is the foundational technology behind Bitcoin. It is also a potentially ground breaking innovation in how data is created, shared, and edited. Through an immutable ledger and consensus algorithms that ensure the integrity of the blockchain, it is possible to create a “trustless” type of information; a type that is truly decentralized and transparent.
In today’s world of electronic and mobile banking, money is transforming from something tangible,held in one’s hand, into digital numbers that are moved around the Internet. In this environment,it was a natural progression for new forms of currency to emerge,which exist only as cryptographically secured strings of digital code, known as ‘cryptocurcy this digital currency revolution began in 2008 when the still anonymous Satoshi nakamoto published the Bitcoin whitepaper.HYCON, which stands for Hyperconnected Coin,is the digital asset built on top of a faster and more scalable blockchain developed by the Infinity Project team
HYCON is a unique crypto currency, which by right received the title of "currency of the future."The basis of the blockchain HYCON is the Infinity Project technology,which allows you to conduct transactions almost in stantaneously,without losing the scalability of the network.
Component of hycon
Security in the exchange of data :The creators of the system use the latest and up-to-date technological ways to increase the blockchain, which allows to ensure high speed of transactions for a short time interval, which practically excludes their hacking
Scalability of the system :The developers of the project plan to provide the HYCON network with a throughput of 3 thousand transactions per second. For comparison, other similar projects have a much smaller indicator, in addition, the transaction speed in them gradually decreases
Speed (speed) :The previously mentioned algorithm SPECTER and acyclic graph DAG allow instantly to carry out operations with the considered crypto currency even in case of errors or some external factors.Economic basis of the project HYCON
SECURITY
One of the biggest selling points of POW blockchains as a technology is the fact that they
are very difficult to hack. In order for a fraudulent user to alter an entry that is already
present on the blockchain, they would need to redo the proof of work for that block as well as
all subsequent blocks that reference it.The computational resources needed to successfully
perform an attack of this nature is equal to the hashing power of 51% of the network, hence
the name, “51% attack”. However, this is an unlikely prospect as the mining benefits of
possessing 51% of the network would outweigh those to be gained by acting fraudulently.
BENEFITS OF HYCON
Faster: true or real transaction can be confirmed,when there is Quick transaction confirmation times in mere seconds,due to the high volume of blocks published within that time interval.
Scalable:Transactional throughput up to 100Tps on a 1MBit/s connection can be achieved as a starting point of the project.
Frictionless;Blocks that are received out of order can still be ordered based on their implied position in the DAG rather than the time they were received.,The DAG structure coupled with the SPECTRE protocol allows for network latency to be essentially removed as a limiting factor on transactional throughput.
Official links
Website: https://hycon.io
Blog: https://medium.com/@teamhycon
Whitepaper: https://hycon.io/doc/whitepaper_en.pdf
Facebook: https://www.facebook.com/ teamHycon /
Twitter: https://twitter.com/teamhycon
Telegram: https://t.me/teamhycon
Bitcointalk: https://bitcointalk.org/index.php?topic=3004397.0
Reddit: https: //www.reddit .com / r / HYCON /
Github: https://github.com/Team-Hycon/Genesis-View
Linkedin: https://www.linkedin.com/company/glosfer
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