The blockchain technology is one of the biggest technology in recent times. This technology has transformed how businesses are done in recent times. The benefits and potentials of the blockchain might seem never ending.
However, the blockchain technology has its shortcomings hindering the blockchain from directly bringing value to them and also impeding the widespread adoption of the blockchain technology.
Some of these shortcomings include- Scalability-
The interoperability issues which limits rather outright make it difficult for decentralised applications to be built on the existing blockchain infrastructure. The centralised structure of most present day cryptocurrency exchanges makes users information prone to hackers .
There is also the issue of security. Over time, hackers have devised means to track payments, steal funds. With the help of smart contracts, data that is entered in the block - will be encrypted and protected with a private key.
There is great need for a platform that can proffer lasting solutions to these challenges with a view of pushing for the mass adoption of the blockchain technology. Hycon proffers solutions to these problems.
HYCON PROJECT
HYCON is a digital asset built on the basis of an instant and scalable blockchain. It is developed by a team of experienced Infinity Project programmers. Due to the structure of the DAG (Directed Acyclic Graph), the technology can process several blocks at the same time with the ability to exclude conflicting transactions, as the technology allows you to stop additional costs, through the consensus algorithm SPECTER.
Hycon has a latency tolerance as well due to the DAG structure that is combined with SPECTRE protocol.
HYCON, coined from the word ‘hyper-connected coin’ will be based on the blockchain technology will be very safe. Their major target is to make available a location where giant companies can securely store their data. This location will be secured, hack proof and save from threat.
Hycon also allows for an advanced communication protocol that guarantees an on-blockchain communication between a user and service provider through the instrumentality of smart contracts.
Hycon also allows for an advanced communication protocol that guarantees an on-blockchain communication between a user and service provider through the instrumentality of smart contracts.
The Hycon protocol, its open source technology stacks and the system UI makes for the provision of a system that allows service providers and the users to interact in the ecosystem making for a full level of cooperation amongst them.
Hycon eliminates the influence of third parties in the financial transactions that take place on the system. This is done through the use of smart contracts that ensure speedy payment without any form of interference or charges paid to any middleman this goes a long way in saving money for all Hycon users.
Hycon also allows for an advanced communication protocol that guarantees an on-blockchain communication between a user and service provider through the instrumentality of smart contracts.
The Hycon protocol, its open source technology stacks and the system UI makes for the provision of a system that allows service providers and the users to interact in the ecosystem making for a full level of cooperation amongst them.
Advantages of the HYCON project
• A completely decentralized Exchange platform-
• Speed- In a matter of seconds, the HYCON will approve any exchange due to its capacity to publish a lot of blocks per second.
• Scalable-Very soon, we will be able to have network speed up to 4000 Tps.
• Latency Tolerance- As a result of the DAG structure and the SPECTRE protocol, the project is built with latency tolerance.
• Transparent, Safe and Accountable- With a more secure platform, data security is taken care of.
ICO Details
Token: HYC
Token type: OWN WALLET
Total Tokens: 10,000,000,000
Available for Token Sale: 10%
HYCON Team
The team has been in the blockchain business as far back as 2012. The team operates with the idea that everyone can enjoy what blockchain has to offer.
In Conclusion, I will say that Hycon is the perfect fit s for busineses who yearns for faster confirmation of transactions, more scalable, and tolerant transactions and who want to bypass the traditional issues associated with present day blickchain. This project HYCON will stand out in terms of speed. Hence, transaction will be completed in seconds.
Useful links
Website: https://hycon.io
Whitepaper: https://hycon.io/doc/whitepaper1.2.2_en.pdf
Facebook: https://www.facebook.com/teamHycon
Telegram: https://t.me/ teamhycon
Twitter: https://twitter.com/teamhycon
Reddit: https://www.reddit.com/r/HYCON/
Steemit: https://steemit.com/@hycon
Author – Chinenye