Hycon-The Infinity Project

toladnoah (29)in #cryptocurrency • 6 years ago

The World today as we know it is evolving in all aspect but we here to talk about the currency and in general terms "money and its handling".
Over the years we've seen money take on a new look with every chance its get better and we have a new way on paying and making transaction easier than the previous times, with electronic and mobile banking we've been able to make payments, order for goods, pay bills and all other actions that requires exchanging money in other to possess the item with just our mobile devices and other gadgets, long queues in banks and all have been reduced drastically which i see is a good thing, right now i can even say i hold money in a smart device encoded in a series of code with the help of cryptography, a technological known as the blockchain technology which exist as Cryptographically secured strings of digital codes. This so called cryptocurrency began with a man anonymous till date but popularly knows as Satoshi Nakamoto when he came up with bitcoin in the year 2018.

At present right now in the world lots and lots of digital currency/cryptocurrency are being produce almost every day under the Blockchain Technology as we see lots of them flying around and changing the world with each having his own purpose to serve and with a mission to solve a problem in one part or the other of the World.
I see the potential and greatness behind the Blockchain Technology as something that will still change the World for the better and will help improve the World, but with the fact that the Blockchain Tech looks so powerful there are still lots of challenges and issues still facing most of them we will talk about and which brings us to why what we are here to discuss, The Infinity Project release a new digital currency called HYCON.

The Infinity Project aim to tackle specific issues facing the Blockchain Technology.

INFINITY PROJECT CORE GOALS.

Identify actual market needs for a cryptocurrencyDevelop a cryptocurrency that is flexible
Create user-centric blockchain platform
Develop an ecosystem that promotes sustainable innovation
Investigate methods for a decentralized cryptocurrency exchange

With the emergence of the HYCON coin, the goals listed above should be made with ease because of the way HYCON, lets take a quick look of what HYCON has in its system and what makes it unique in terms making the blockchain a better chain.

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Wallets & Accounts

HYCON Wallet GUI:

It is said to be a full node running the HYCON software has access to a locally hosted web GUI allowing for
wallet operations, transactions, and blockchain exploration.

HYCON Wallet:

HYCON wallets employ industry standard elliptic curve cryptography methods for transaction
signing, as well as implementing mnemonic codes for wallet
recovery as specified by BIP 39.

HYCON Addresses:
HYCON addresses are generated as 20 byte arrays sliced from the 32 Byte Blake2b hash of
the associated public key. For human readability the addresses are output as Base58
strings, prefixed with a capital H. The final 4 characters of the string act as a checksum for
the address. The checksum is calculated in three steps. First, the 32 byte blake2b hash of
the address is calculated. Then, this hash output is encoded to a Base58 string. Finally, the
first 4 characters from this string are taken and appended to the string representation of the
address. The use of a checksum in this manner helps reduce the chance of mistyped
addresses being accidentally used.

Account and Balances

A method of accounting was adopted from the one used in Ethereum, which is called Merkie Patricia Trie.

The Infinity Decentralisation Exchange

The Infinity team are studying the Blockchain Tech which also includes teh atomic swaps in order to come up with a fully decentralized exchange that will smoothen the crosschain exchange and create traders and include lots and wide range of currency pairs.
The most important is improving the security for traders.

Closing out

The Hycon Coin (Hyperconnected coin). is a cryptocurrency built on a very fast blockchain and developed by the Infinity Project Team, with the use of "Directed Acyclic Graph" it is cabable of publishing several blocks at the same time which gives it the power to resolve conflicting transactions and block double spends transactions through the spectre consensus algorithm.