Overview & Vision
As we dive deeper into the digital age, blockchain and cryptocurrencies look set to become amongst the defining advancements to shape our upcoming technological future; the inherently superior security, transparency and utility of blockchain and smart contract technology is already being explored by many tech and corporate giants, and the average person has come on leaps and bounds in terms of cryptocurrency awareness. However, one crucial element to the overall advancement to the blockchain space is currently severely lacking- adoption. Adoption of any new technology is historically slow and staggered, each redefining technological wave accompanied by its specific hurdles to widespread use. The hurdles to adoption of crypto are painfully clear- limited utility in the real world, uncertain level of fund security and limiting complications when trading or transacting with multiple cryptocurrencies.
Hoard’s mission is to knock down these barriers to entry of the crypto market by individuals and merchants alike, through their innovative multi-layered cryptocurrency management and utilisation ecosystem. Not only will Hoard’s solution facilitate the secure storage, trading and investing of a variety of cryptocurrencies, but will also provide a plethora of unique and notably impressive functionalities designed to ultimately make all areas of utilisation and storage more accessible, simple and beneficial for all parties involved.
This is a HUGE task with a grand vision which potentially stands to no less than revolutionise consumer and merchant cryptocurrency experience. Hoard will therefore require rock-solid fundamentals and superb understanding of the operational environment if they plan to turn their vision into reality.
Current Industry Situation
The blockchain space has seen impressive progression over the last few years, with Bitcoin and (to a lesser extent) other cryptocurrencies emerging from the murky shadows and increasingly into the public arena. The recent market-hype mania resulting in unprecedented price highs, and continuation of high public interest regardless of price decline and volatility, is testament to the ability of blockchain to capture public imagination as an unexplored, yet clearly beneficial, technological territory. However, many barriers still exist which are contributing to the prevention of our fledgling industry from taking flight; limited real-world utility, complicated use processes and security concerns are preventing meaningful adoption. These problems plague both individual and merchant potential adopters- preventing progress on several fronts- and will need to be addressed is mass adoption of blockchain and cryptocurrency is to be achieved.
Hoard, based on the innovative Smaug Protocol, is looking to transform this problematic situation to provide an ultimately seamless all-round cryptocurrency user experience.
Hoard’s Solution
Hoard understand that the key to facilitate adoption lies in a multi-pronged approach to simultaneously address the variety of current industry complications; Hoards solution, based on the Smaug Protocol and powered by the HOARD token, is a multi-faceted cryptocurrency ecosystem comprising of multi-currency wallet, innovative fiat-based cryptocurrency exchange and second layer cross-chain exchange and payment protocol. This innovative marriage of ecosystem elements is capable of providing notably enhanced, yet seamless, capabilities for both individuals and merchants.
Smaug Protocol
The Smaug Protocol is effectively a trustless system for decentralized exchanges, and is the backbone of the Hoard ecosystem. Equipped with a range of enhanced functionalities, the Smaug Protocol is a framework which will be capable of facilitating many of the cutting edge-features of the Hoard ecosystem, including: instant trustless transactions across any supported cryptocurrency or smart contract-enabled blockchain; facilitating significantly less reliance on specific elements or actors in the space (such as centralised exchange or a certain chain); and, most impressively and potentially game-changing in my opinion, the ability to facilitate the atomic swap of multiple cryptocurrencies at the time of transaction- which has potentially profound implications for both individuals and merchants, as to be explored below.
Smaug Network transaction, from the Hoard whitepaper: https://token.hoardinvest.com/whitepaper.pdf
HOARD Token
The HOARD token is the fuel which powers the Hoard ecosystem, and is a utility token which works seamlessly within the Smaug Network to facilitate efficient and secure instant off-chain transactions. Additionally, as well as being used to accelerate the conversion between fiat and crypto when either buying cryptocurrency or cashing out, HOARD is the tool by which users will be able to atomically transact (thereby spending a certain currency with the receiver getting a different desired currency).
This functionality alone could signal HUGE progression for the crypto space, enabling utilisation and liquidity of cryptocurrencies like never before possible.
Hoard Exchange
Hoard’s cryptocurrency and fiat exchange will be the liquidity mechanism by which transactions, trading and investing are enabled within the Smaug network. Hoard’s exchange will operate in a similar manner to centralised solutions, but with a variety of security-based and functional benefits over traditional exchanges including providing a lower risk of insolvency, due to on-chain verification processes and decentralised operational mechanism, and most notably in my opinion is the ‘any-to-any’ cryptocurrency trading facility; the ability to effectively trade any supported cryptocurrency for any other is an unprecedented advancement in the space which would provide a new layer of flexibility and liquidity to the cryptocurrency trading experience.
Hoard Multi-Asset Crypto Wallet
Hoard’s innovative Cryptocurrency wallet will allow users to securely store a range of cryptocurrencies off-exchange. A user need not worry about limited liquidity, however, as the Hoard Wallet will be connected to the decentralised Hoard exchange through the Smaug Network- and thus enabling real-time trades. Furthermore, the strictly exclusive self-ownership of a user’s private keys will provide maximum trustlessness (with an intentionally complex optional emergency back-up service available for those who so wish). Hoard’s Wallet is demonstrating an impressive combination of security and functionality to provide maximum benefit for the user.
Hoard Wallet diagram, from the Hoard whitepaper: https://token.hoardinvest.com/whitepaper.pdf
Merchant Services
Hoard’s impressive functionality in the form its transactional atomic swap capabilities opens up a new level of flexibility and opportunity for merchant adopters of cryptocurrency. One of Hoard’s main goals is to provide the necessary infrastructure for merchants to be able to atomically transact with their customers, thereby instantly accepting a desired cryptocurrency which is different to the currency actually sent by the customer. Such atomic swap capabilities will provide unprecedented flexibility for both parties involved in the transaction, and will make the prospect of adopting and accepting cryptocurrency generally a potentially much more enticing and clearly beneficial one.
Team
When evaluating any company, or project, in the Wild West of crypto, it is always crucial to ensure that the team have the expertise and proven ability required to carry out their proposed vision; anybody can write an impressive whitepaper and create a persuasive website of course. The idea is the easy part, it’s ensuring the capability to effectively implement the idea which is difficult.
The Hoard team are a particularly impressive set of individuals. Each team member is impressive in their own right, which is always reassuring to see. For example, the CEO Jason Davis is a former senior UX designer for Wells Fargo, as well as an avid cryptocurrency enthusiast. What the team lacks in size of permanent team- they do have a good sized overall team, so this is certainly not a weak point in itself- they make up for in calibre. More information about the team can be found on the Hoard website.
Team snapshot, from the Hoard website: https://token.hoardinvest.com/
Verdict & Summary
Some of the projects which excite me the most in the blockchain space are those which either utilise blockchain’s technological possibilities to fundamentally improve an industry through genuine innovation, or those which aid in the facilitating of a more adoption-ready cryptocurrency environment by making cryptocurrency interaction and utilisation more secure, simple and accessible. Hoard’s vision is to deliver both of these outcomes- and in a way no less than revolutionary for the potential of the blockchain space.
Hoard’s tailor-made ecosystem is designed from the inside out to tackle the currently crippling industry problems relating to utility limitations, security concerns, and poor user experience. The Smaug Protocol itself is equipped with a range of enhanced functionalities, the most notable of which is the facilitating of the atomic swap of cryptocurrencies at the time of transaction- which is a feature in itself potentially capable of bringing about impressive enhancements to merchant services. Hoard’s decentralised exchange will house an ‘any-to-any’ cryptocurrency trading facility, an unprecedented advancement in the space which would provide a new layer of flexibility and liquidity to the cryptocurrency trading experience. Furthermore, the Hoard Wallet is designed to offer the user maximum security and trustlessness whilst enabling ultimate liquidity for real-time trades through the intrinsic connection to the Hoard exchange via the Smaug Network.
Such an impressively innovative combination of security and functionality is what sets Hoard leagues apart from the fragmented range of cryptocurrency management solutions- Hoard is not a solution, but an entire ecosystem of purpose-built and complimenting solutions designed to provide a more beneficial and adoption-ready cryptocurrency user experience for all actors in the ecosystem.
I will be following Hoard closely on their exciting journey to propel the industry forwards through facilitating a superior all-round crypto experience and hopefully much more seamless user adoption.
Hoard’s token sale is currently live now and is due to end on the 15th October. More token sale information can be found on the Hoard website.
Have any questions regarding Hoard? Join their active community on Telegram where you can discuss anything Hoard-related: https://t.me/hoardinvest
Learn more at their website: https://token.hoardinvest.com/
Hoard whitepaper, if you want to dig in deeper: https://token.hoardinvest.com/whitepaper.pdf
Get connected to Hoard on social media:
Twitter: https://twitter.com/hoardinvest
Facebook: https://www.facebook.com/HoardInvest/
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