HyperCash (HC), Hshare or Hcash is a decentralized cryptocurrency, open-source, but above all cross-platforms, which makes it one of the rare cryptocurrencies designed to carry out transactions between cryptocurrencies blockchain-based and blockless and this, from the same wallet. Beyond its bold technology, Investor interest in HyperCash has also remained constant for several months. At the time of writing this guide, crypto is trading in the range between 0.96 and 1.05 euros and has a volume over 24 hours of almost 12 million euros and a market capitalization of 43million d ‘euros. According to CoinMarketCap ranking, HyperCash ranks 87e in terms of market capitalization. In 2017, the currency was even ranked 14e on CoinMarketCap, which had attracted a flow of investors interested in its potential.
So, is it a good idea to invest in HyperCash? How does this cryptocurrency work? What is its potential? Where to buy it? This guide aims to answer all your questions.
Warning : Crypto investments are risky by nature, do your own research and invest only within the limits of your financial capacity. This article does not constitute an incentive to invest. Any doubt on the subject? Go and soak up 13 essential rules to know before investing in Bitcoin and cryptocurrencies.
What is HyperCash (HC)?
Very innovative, the HyperCash is a cryptocurrency created to support anonymous transactions, the DAO governance and the quantum resistance. The currency works with a double sidechain – side blockchain – compatible with blockchain-based systems and DAG systems (Directed Acyclic Graph) or blockless systems. It’s a cryptocurrency that allows you to implement a unlimited flow of information and values between the registers distributed blockchain-based and blockless.
HC offers two versions of his wallet, one for classic cryptocurrencies and the other for those focused on confidentiality. So whether you use anonymous cryptocurrency or not, you can make transfers between public and private addresses with your wallet.
Unlike most cryptocurrencies, HyperCash is based on a hybrid consensus model. It uses both the Proof of Work and the Proof of Stake, which improves community participation and especially the governance of the network. You will find more information on this mode of governance in one of the sections of this guide.
It is also important to note that the HC code was equipped, from its deployment, with a resistance quantum which allows it to enjoy an optimal level of security and to resist cybercrime attacks.
Now let’s find out the story of HyperCash.
Big ambitions and little story of HyperCash
HyperCash is a young cryptocurrency. Its story begins on 02 October 2017 where it is launched under the name of ” Hshare “, After an organized ICO June 28, 2017. Cryptocurrency was developed by a team based in China and Australia and made up of developers Dallas Brooks, Andrew Wasylewicz, Khal Achkar and Joseph Liu, who was the main developer. You will learn more about interested parties directly on the official HyperCash website.
To make sure efficiency and some security of the network, the team worked closely with international universities like the Polytechnic University from Hong Kong, Jiao Tong University Shanghai (SJTU) and Monash University in Australia.
From a valuation point of view, HyperCash has reached his All Time High of 38.40 euros August 27, 2017, while its price has reached its lowest level of 0.524682 euro December 07, 2018.
HyperCash is negotiated at the time of writing around 1 euro.
Its maximum offer is 84000000 HC and the number of HC currently in circulation is 44588472 HC, a little more than half of the maximum offer.
What problems does HyperCash plan to solve?
HyperCash has tackled two main problems: interoperability of cryptocurrencies and confidentiality of transactions. Here’s how he did it.
The interoperability of cryptocurrencies
By default, cryptocurrencies are not designed to be interoperable. When we consider the Bitcoin (BTC) and the Ethereum (ETH) for example, these two cryptocurrencies use mining to create the blocks containing their transaction register. But the fact is, it’s impossible for BTC’s blockchain to communicate with that of ETH. In addition, the more the number of blockchain blocks increases, the more difficult to transfer values between them.
To do this, the only way to transfer information and values between two cryptocurrencies is to use a exchange (a platform in the form of a website, allowing to convert cryptocurrencies between them). But the problem with exchanges is that they can sometimes be very expensive (transaction fees), slow and in most cases even centralized.
However, basically, cryptocurrencies were created to free their users from the presence of a central authority and for reduce costs in transactions.
This is why HyperCash has tackled this problem, presenting itself as a sidechain, in other words, a “ side chain “
It works on the basis of two networks operating simultaneously. The first is based on a blockchain and the other is ” blockless “, that is to say, a blockchain without block (networks using the DAG, the Directed Acyclic Graph). Thanks to the simultaneous operation of these two networks, the HC is able to offer addresses that can communicate with other cryptocurrencies. In other words, you can send and receive various cryptocurrencies using an HC wallet.
Do not hesitate to go and discover the technical proposal of HyperCash in detail in its White Book.
Confidentiality of transactions
Since he wants to be a sidechain for several cryptocurrencies – including those that focus on confidentiality – it was logical that the HC offers to its users who wish it, the possibility to transact in all anonymity.
So he proposed two types of wallet. A white wallet where the addresses are publicly available, and a black wallet which allows you to perform confidential transactions. How does HC ensure this confidentiality?
The network has deployed the proof to zero knowledge – zero knowledge proof – which allows minors to verify transactions without power discover the identity of users or transaction information, which is crucial, especially for remittances between public addresses and private addresses. This protocol has proven itself with cryptocurrencies like the Zcash, thereErgo, the StarkWare, etc. HC even integrated the resistance quantum to his code to offer more security.
A hybrid governance model: the Proof of Work and the Proof of Stake
In most cases, for the validation of transactions and mining new blocks, cryptocurrency blockchains use either consensus Proof of Work (or Proof of Work), i.e. Proof of Stake (or Proof of Participation). In the case of Proof of Work (PoW), all miners around the world compete with each other to verify transactions, calculate a hash and mine each new block. Whoever can calculate the correct hash and mine a block integrates first wins the reward. It’s a competition that requires huge computing power.
As for Proof of Stake (PoS), the system takes into account the miners who participate in the proper functioning of the network underlying the currency and the amount they have in their wallet, then selects each time, among them who will check the new block. With this governance model, miners with more crypto are more likely to be selected to verify a new block.
Cryptocurrencies typically use one or the other of these governance systems. Bitcoin, for example, uses PoW. And it is interesting to note that the HC uses a system of PoW / PoS hybrid governance.
The voting power of users of HyperCash is therefore both based on their participation in cryptocurrency (PoS), and on the computing power it brings to the network (PoW). This hybrid mode of governance allows to encourage minors to bring more computing power to the network and motivate average miners to stay engaged.
The disruption potential of HyperCash
Thanks to the quantum resistance integrated into HyperCash code, the network has not been attacked to date. Perhaps we will have to let a few years pass in order to confirm the inviolability of the blockchain. In any case, the chances of Successful hack on HC appear to be very weak.
How to buy HyperCash?
For those who wish to buy HyperCash, you will find it on exchanges like Binance, Huobi, Okex, KuCoin, Bithumb, Hypex, Bit-Z, TOPBTC, Gate.io, etc.
Obviously, you are not going to be able buy HC with euros. You will need a gateway currency. You will first buy BTC or from ETH which you will then exchange for HC.
What to remember about HyperCash?
Since relatively young, HyperCash has a growth potential rather interesting. In addition, its mode of operation is, let’s not be afraid of words, rather revolutionary.
It uses a hybrid governance (PoW / PoS) and offers a possibility of interoperability between cryptocurrencies, including anonymous corners. Users can therefore exchange several cryptocurrencies from a wallet that exists under two versions one of which is designed for anonymous transactions. It’s very interesting as an offer of features. If the circumstances were right, the project could start to attract more investors from here to there.
In addition, no hack has been reported on the network blockchain so far. And the chances of that happening are pretty low. Since its creation, the network has deployed a quantum cryptography system which represents a powerful barrier against cybercriminal attacks.
HyperCash may well prove to be the ideal cryptocurrency for people looking for flexibility, versatility and security in the use of digital currencies.
In the crypto-bath since 2017, both much too late but quite early from the point of view of my future grandchildren 🙂
Writer, Amateur Trader, Ethereum and NEO-compatible