Over the years, money has evolved after the emergence of digitalisation. Money
is either held in cash physically or digitally for different purposes. The digital
world has facilitated the masses in making use of digital banking, digital
currencies and so much more which has thus empowered the masses in making
different transactions in digitalized platforms by making use of digital
currencies.
Another form of money or asset emerged after the advent of bitcoin in the year
2008, when bitcoin was particularly initialised as a cryptocurrency or better still
digital currency on a technological architecture called the blockchain which
stores / facilitates transactions made on the system. Newly established
cryptocurrencies emerge on a daily basis based on the blockchain system.
But there are some unsolicited flaws/ challenges / limitations faced in the
blockchain system and two significant issues will be addressed below :
- Transaction validation period : With the current blockchain services,
transaction takes a longer time or period to validate due to different issues like
traffic on the network etc. And has thus increased transaction period which
eventually causes delay due to the sluggish processing time of the system
based on some preventable reasons. - Security : There has been some confirmed breaches in some blockchain
system due to ineffective firewall to combat fraudulent actions in the network
has of course led to loss of customers data and information which isn't to be
heard of. And the information retrieved is therefore used for other fraudulent
act or to create fraudulent identities to be use don the network. This basically
implies that user data are not 100 percent safe in the system.
HYCON is a noble project is designed to address the issues/ challenges /
limitations faced by the existing blockchain services. This unique project is
encoded with features that resolves the current blockchain system limitations
with features like ; flexible , user-centric and decentralized platform for users
wit fast, transparent and secured line of transaction. All of this is to be
achieved by implementing a new form of technology and algorithm to better suit
the objectives and goals of the project using the Blake2b hashing algorithm and
the spectre protocol to further achieve this.
With the unique combination of both the spectre and Blake2b hashing algorithm
both to be implemented will aid to the successful creation of a new
cryptocurrency that is both safe and secured and bringing the global
cryptocurrency system to a new level of accomplishment.
SUPPORTED WALLET
HYCON uses industry standard elliptic curve cryptography methods for signing of
transaction which is otherwise known as sep256k, and also making use do
mnemonic codes for wallet recovery to facilitate the ease of use of third part
wallet providers.
TOKEN ALLOCATION
The allocated token for this infinity project is 10 billion as 70 percent of the
allocation is assigned for specifically for public mining and the 30 percent left
is cloistered in 6 other parts which is depicted by the by the diagram below.
FUND USES
The total funds raised for the project is to be spent just as its depicted in the
image below for the successful accomplishment of the project.
For more insight, kindly visit;
Author: MrLong
website: https://hycon.io/
Whitepaper: https://hycon.io/doc/whitepaper_en.pdf
Telegram - https://t.me/teamhycon
Facebook - https://facebook.com/teamHycon/
Twitter - https://twitter.com/teamhycon
Medium - https://medium.com/@teamhycon
Reddit: https://www.reddit.com/r/HYCON/
Github : https://github.com/Team-Hycon
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