The network core servers running transactions validating nodes
Hydra core will be the software which will act as the foundation of the network. Hydra network servers will do the task of keeping the network operating by validating the transactions via the Hydra Protocol. The nodes will also enable owners to list new assets or submit transactions to the network. Anyone will have an opportunity to download Hydra Core and begin running a node. There will be a server software that will be responsible for connecting to Hydra Core nodes and letting the applications interact with the Hydra network via an API interface and software development kit (SDK) that will be common to any competent web developer. Any person will be able to download and use the HydraNet server application software.
The advanced structure that eliminates fees, delays as well as counterparty risks of alternatives
The Hydra platform will be created with the objective of improving the way that other cryptocurrencies work, including their characteristics, weaknesses as well as strength which have been closely analyzed and benchmarked in designing the Hydra Protocol to suit with its objectives in improving the global payments. Just like other digital currencies, the Hydra Protocol will include peer to peer transaction for clearing and settlement through a decentralized network of interconnected computers. This will reduce and ultimately remove several fees, delay as well s counterparty risks which are involved in the traditional interbank fund transfers or any other traditional payment methods.
Network operations independent of any currency or asset
While assessing the requirement of the HydraNet, it was noted that in contrast to many other cryptocurrencies, it was taken into consideration that the Hydra Protocol will be completely currency as well as an asset agnostic and users will not be asked to convert local currency into HydraNet’s native currency if they do not want to even if any transaction can equally take place exclusively in the native digital currency or asset and operations extending via financial institutions as a connection of entities that are holding balances of such currencies and other assets. By using these parameters together with the direct use of the HydraNet via the HydraNet wallet by the end users, Argentas will provide disruptive solutions for banks as well as all other financial services firms to operate as:
• Bridges in and out of the Hydra network
• Market makers to offer liquidity for the FX conversion by listing bids for each currency pair with the intrinsic Hydra decentralized exchange framework
Ridge entities hold and clear traditional asset positions
These are entities that HydraNet participants trust to hold their deposits in fiat currency or any other traditional assets and issue credits into the HydraNet to match these deposits. They literally operate such as a connection between different currencies and the Hydra network. All money transactions within the Hydra network will take place in the form of credit that is issued by such bridge entities that essentially fulfill two key functions:
• Bridge entities take the participant’s deposit and issue the required credit to the participant’s account address on the HydraNet ledger.
• The participant is able to withdraw by bringing the bridge entity the credit they issued.
This is just simple processes that you can easily understand with the essence of traditional banking, the issuance of credit is used but in a different way by using the blockchain. The user is required to signal trust to the bridge entity to honor the user’s deposits and withdrawals of credit that it issued. As stated earlier using bridge entities is important for HydraNet’s operation that can be run independently using its native digital asset, but the use of the bridge entities will enable the inclusion of the fiat currency and other traditional assets in the global value transfer system.
for more information contact:
Website: https://argentas.io
white paper: https://github.com/argentasio/Documentation/blob/master/whitepaper.md
Twitter: https://twitter.com/argentasio
ANN Thread: https://bitcointalk.org/index.php?topic=4431900.0
Facebook: https://www.facebook.com/argentas.io
Telegram: https://t.me/argentas1
Medium: https://medium.com/argentas
Instagram: https://www.instagram.com/argentas.io
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2382238