Times without number i have always emphasized and explained that the main reason why the blockchain technology is yet to widely/massively adopted is due to the problems it faces currently, daily we see new projects coming up claiming to have solutions the problem, but none of them are yet to actually accomplish this task, in case you might have missed it,. journey down memory lane while i freshen your memory on the current problems/limitation facing this great technology
- Security
- Adaptability
- High confirmation time
- Scalability. Amongst others
Security - the problem of security here is in the aspect of smart contracts, what measures are being taken to ensure that smart contracts deployed on the blockchain are error free and are they really “smart”?. Thanks to various consensus protocols such as POW and POS which is massively being adopted currently, we can say the technology is to a bit secure.
Adaptability- here I can also call it scalability and it simply means the ability of the blockchain to accommodate the ever increasing transactions being performed/carried out on it, this here is the main issue as most blockchain have a particular number of transaction they can perform at a specific time.
High confirmation time - due to the problem of scalability, at times when the blockchain have a backlog of transactions, miners tends to set their preference to transactions with high fee, thereby neglecting the ones with reduced transaction fee and this arises mostly due to the problem of scalability.
Energy consuming- wasteful in terms of energy demand, as we all know that the Earth's resources are limited, due to bitcoin's proof of work algorithm, the cost of mining a bitcoin transaction it's quite expensive and not energy efficient, even tho the proof of stake was introduced in order find solution to this etching problem, it has done little as more is expected of the blockchain technology.
Without further ado, I'll just cut straight to the chase here
What is Hycon?
Hyperconnected coin also known as hycoin is a digital asset, whose blockchain technology provides answers to the problems/limitations discussed above,
Features of hyperconnected coin
Faster confirmation time - withs its ability to perform 10 million hashes per hour, and scheduled release of its mainnet , hycon is efficiently fast when it comes to confirmation time required for transaction as each transactions take less dan second for confirmation.
Scalability - with a block adaptability that has the ability to increase in with respect to increasing volume of transactions, all thanks to the Spectre consensus protocol this is one of the unique features of hycon
Security - the Hycon blockchain is enormously more secured compared to other blockchains out there, thanks to the recently just concluded mainnet migration which occurred in june.
Hycon killer feature
Hycon killer feature or characteristic is its ability to support different subchain,i.e different enterprises can have a share of their own blockchain, not just build Dapps on the hycon blockchain, a particular segment of the blockchain can be allocated to a company which would like to implement the blockchain technology but doesn't have enough funds to build a blockchain of theirs, they can make use of the hycon hence the name HYPERCONNECTED COIN bringing small NGos together, to be a part of the blockchain revolution.
Hycon which is part of the infinity ecosystem still has many more use cases, which would be elaborated about in my next project.
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