HYCON: ADVANCED SCALABILITY IN BLOCKCHAIN TECHNOLOGY
Hycon stands for hyper connected coin. It is the first phase of the infinity project ecosystem, which allows anyone to create their own infinity blockchain.
The hycon platform shows us a solution that has been designed to resolve some of the challenges that currently exist in the world blockchain technologies. It is part of the infinity project that aims to cover a number of goals, such as developing a flexible encrypted currency and a user-centric blockchain platform. Basically, it is a digital asset that sits on top of a faster and more easily scalable blockchain that uses a DAG (directed acyclic graph) structure. This means that it will be able to publish more than one block at the same time.
WHAT DO INVESTORS GAIN ( BENEFITS)
There is hope for the investors, the hope in this case is that the Hycon provides a new way of dealing with encrypted currency that is widely accepted. The benefit of hycon includes speed (I.e. quick transactions,) confirmation time, scalability-chain (as it transforms from the starting point) and latency
OPPORTUNITY AND RISK
There is always a chance to make a big difference to the existing cryptocurrency methods around. It is clear that there is a lot of interest in this subject but there are some limitations in the current approach that the hycon team feel could be avoided. Their approach could pave way for faster and more secure way of using digital currencies.
PROJECT USE CASE
Users will benefit from this project in the a block. Equally, we can see full details of the mining process, that it planned to last for 50years. From a high level view, the hycon tokens only use case for the moment is to lay on top of their infinity blockchain. Although the project is impressive, its token utility needs to be backed by large adoption of their network.
How The Token Work
Now, the hycon token integral part of this project 70% of them(7 trillion coins) will made available in the next 50years of for mining. Also, this is the next generation cryptocurrency that the team hopes will lead to virtual currencies being more widely accepted and used. However, they have 3 phases of roadmap, first is the hycon ICO, second is the infinity platform and the third is infinity decentralized exchange.
TEAM AND ADVISORS
The hycon team consists of 15 team members and 1 advisor from diverse, different range of background, as always, the composition of the team working on the project gives us an indicator of how likely it is to find success. The team selection starts off with taewon Kim as the CEO and CTO. His description shows that he leads Glosfer (the development company behind everything), and infinity project.
Finally, this is an interesting idea that has obviously been well thought out. The technical details are well fleshed out and there is no doubt that the team has a strong grasp of the technical side of things
CONCLUSION
Hycon is one of the projects that is birthed to solve problems plaguing blockchain technology and this is the essence of the platform. The interoperability and scalability issues have been the reason why there is yet to be massive adoption of blockchain technology. With hycon we are sure of a different course in blockchain technology.
For more information on hycon project please visit
Official website: https://hycon.io
Whitepaper: https://hycon.io/doc/whitepaper1.2.2_en.pdf
Telegram: https://t.me/teamhycon