INTRODUCTION :
In our present age,where we are filled with inventions of new technological implements and tools,in a generation where money is going beyond a handy substance that can be within the grasp of ones hand into a digital curecy that are transformed on the web.
We have cryptocurrencies been produced everyday yet the problems that is facing the globe in the world of cryptonotes are not really declining.It is without doubt that the technological brain and power site remains the Blockchain.
Challenges encountered in the present Blockchain technologies are listed below :
- Wastefulness of available resources
- Throughput
- Poor security
- Width and length of bands
- Versioning,Multiple chains which are formed.
However, this article is not to emphasize on the problems but to make us aware about a latest development that will give answers to the questions been asked by these problems.
Infinity project will birth a new and efficient cryptocurrency that will improve the market on a global plane; this is in the form of no other but HYCON.
Hycon is the latest cryptosystem that has been created to focus and solve these challenges faced by existing Blockchain technology.
INFINITY PROJECT : THE ORIGIN OF HYCON CRYPTOCURRENCY
This is an avenue that consists of some other vital blocks on which Hycon is built on.These are SPECTRE protocol,blake2b,and hycon wallets.
Some aims are already on ground as a result of seeing a need to identify and tackle the issues aforementioned in the introductory aspect.These goals are mentioned below
- Identifying the precise need of the market
- Creation of a versatile currency
- Development of a user focused Blockchain platform
- Flexible Innovative
- A protective and safe decentralized mode of transfer.
SPECTRE CONSENSUS PROTOCOL
SPECTRE combines a Blockchain into the pattern of Directed acyclic graph(DAG) by applying a voting algorithm which exists among pairs of blocks to the end that the order in their 'twos' form are particularly known and specified.
Employing SPECTRE protocol with a prototype of a DAG is paramount in the technological implementation of Blockchain.However,it is necessary to note that that in order to flow through an example of this protocol,the actions are to be taken step by steps in a well ordered manner.
The essence of these patterns of these DAGs over a straight Blockchain is majorly to permit a shorter gaps in between blocks,this will produce a very massive rate of businesses confirmations.
HYCON WALLETS,ACCOUNTS AND BALANCES.
The wallets on Hycon makes use of standard elliptic curve ways for endorsing a signature to transaction as well as employing mnemonic codes for the purpose of recovering Wallets. This is put in place so as to give easiness to how the third party wallet producers are integrated.
Accounts are formed just to keep records of how fees are spent by Hycon traders.
The account and balance model is built on the basis of Ethereum.Blake2b hash is employed in accounting because it gives room for a convenient technique to facilitate various deal.
CONCLUSION
Hycon cryptocurrency offers a special and unique inputs to global cryptocurrency landscape.Meanwhile,the security and easiness of transactions that it gives is second to none.This platform is the solution to the cries of the users for a long lasting answer to the challenges been faced on a daily basis in the marketplace.