Hshare Coin is a new cryptocurrency on the market. It was introduced by auction on 20 August 2017. The initial price of this currency was 20.28 US dollars per unit, or 0.0049 Bitcoins. The capitalization of the project was an impressive 20 million US dollars.
This cryptocurrency managed to grow to more than double its value within days of its market launch. Capitalization increased several times and temporarily surpassed the 1.2 billion US dollar mark. What’s the reason for the success of this cryptographic currency? We’ll explore this lucrative enterprise below.
Hshare (otherwise known as HSR) was introduced initially as a temporary currency. Over time, Hshare will be replaced by Hcash. Since the development and implementation of the Hcash code takes time, the temporary Hshare was created.
At the end of the ICO of Hshare/Hcash, investors received Hshare tokens. These were located within the current UTXO blockchain system. After the platform launches properly, Hshare holders can exchange them for HCS at a rate of 1:1 on any online exchange.
The development team plans to close the preparatory period ahead of schedule. They now intend to introduce Hcash Coin into the market within 10 months. Until then, Hshare Coin will be available on the market. After starting Hcash and exchanging HSR tokens for the new currency, the old coin will no longer exist.
If someone has not exchanged their Hshare tokens for another currency at that time, they will be destroyed. Any user can go to the official Hcash page, view Hshare open code, then make sure this number matches the one stated in Hcash’s white paper.
The HSR team
Many well-known specialists are working on this project. Dallas Brooks holds the position of General Director. His knowledge of the trading world is particularly impressive, and his research into various platforms has steered him toward producing a new platform that combines different decentralized accounting systems.
Khal Achkar is the leading technology specialist. He has more than 18 years of experience and knows the modern demands of the market. The position of Business Development Manager is held by Andrew Vasilevich. He has been involved in numerous other projects of this kind and boasts extensive experience in the field.
Among the consultants involved are:
- Davout Gu – a professor of Computer Science at Shanghai Jiao Tong University
- Ryan Hu – Managing Director of CollinStar Capital
- Gang Wu – the CEO of Bixin
- Andy G – a senior expert on blockchains
- Dr. Joseph Liu – an expert in the field of cyber security.
Partners and investors
One of the official partners of this project is the SJTU – Shanghai Jiao Tong University, which belongs to the C9 University League. Monash University and Hong Kong Polytechnic University are also on board.
Investors of the platform are Bixin and CollinStar. They were joined by Bitangel.com, iYES Ventures, REG, Bitmain, the Fintech Blockchain Group and others.
The corporate pools of the Hcash Coin/Hshare project are Itc.cop, AntPool, 91pool, bw.com, BTCC and BatPool. Users can already implement Hshare mining with these today.
Hshare Coin should not be regarded as a wholly independent project. This cryptocurrency is only an instrument used in preparation of a completely new cryptocurrency platform. Jaden Wei of Collins Capital said that their project was necessary to meet the demand for blockchain technology. This would enable the free exchange of assets and the transfer of information between systems.
The blockchain mechanism on which Hcash is based is the distribution registration that connects the block and non-block DAG system. This enables the transfer of information and assets in the register between different cryptographic currencies within seconds. Positioning Hcash as a new value measure, the developers published the white paper in the first week of June.
In it, the unique properties of the new cryptocurrency are described. For example, there is a forward-thinking plan that describes the exchange of Hshare Coins for Hcash in February 2018. This includes the complete destruction of the remaining Hshare currency by the third quarter of 2018.
Main features of HSR
Hshare/Hcash builds its work on absolutely new and revolutionary features:
- The format for exchanging information works through a type of hive system
- Evidence-based protocols without disclosure of information
- Hybrid model of PoW + PoS
- A clear hierarchy
- Quantum resistance
- Reliable transfer between private and public address systems
- Any number and volume of transfers is possible.
One of the most important aspects of this new system is the emergence of quantum resistance technology. This can significantly affect the safety level. The cryptography of quantum resistance can even withstand attacks in an era of quantum computers.
Through the research and development of service algorithms, cryptography technology for quantum encryption can be applied to the network. This significantly increases the level of data protection.
The entire system of the Hcash platform works on the principle of a beehive. This allows a fast and easy data exchange between blockless and blockchain systems.
Today we can only say one thing with certainty: the Hshare/Hcash project is only just getting started. The active growth of the cryptocurrency in its first week showed the potential of the platform. If such a rapid growth was seen so early, the next leap may be predicted.
In general, the potential of Hcash is colossal in scope, but whether it will be able to bypass the competition remains to be seen.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.