Bob’s Gem of the day 10 – HYCON (HYC) Korean DAG New Kid on the Block.
Gem of the day 10 – HYCON (HYC)
All time high price:
$0.05 USD (April 25th 2018)
Price in ICO
0.9000 USD (0.49xUSD)
What is HYCON?
HYCON, which stands for Hyperconnected Coin, is the digital asset built on top of a faster and more scalable blockchain developed by the Infinity Project team. Using a DAG (Directed Acyclic Graph) structure, it has the capability to publish several blocks simultaneously with the ability to resolve conflicting transactions and reject double-spends through the SPECTRE consensus algorithm.
How is it different from other coins?
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.
The HYCON network is going to be one of the quickest on the planet with transactions that take seconds. Their network is also scalable which means that it will be just as fast in years to come as it is now. The Hycon network is also going to be completely secure, providing a location for large companies to store their data and information where it will be protected and secure from any cyber threats.
Who is behind HYCON?
15 team members and 1 advisor, from a diverse range of backgrounds.
Here’s a pic of the main players.
Why I like HYCON:
- DAG solutions promise horizontal scalability
- It’s quick.The Hycon network can publish a huge number of blocks per second which means that they can verify any transaction within seconds.
- The Hycon blockchain will feature a transactional throughput up to 3,000 Tps. This is more than fast enough for any need.
- HYCON are working on state-of-the-art blockchain technology to create one of the fastest, most secure exchanges in use right now.
- Korean DAG blockchain solutions….I don’t know why, but the words Korean and DAG just seem to sit nicely together!
- Mainet already up and running
- With Fantom coming to prominence in the DAG blockchain space HYCON could be a nice underdog to back.
- The white paper was a bit thin. (14 pages in all)
- Not listed on any bigger exchanges right now.
- Only 1 advisor on the team. A tad worrying!
7.5/10 – HYCON has the opportunity to make a mark in the space. DAG infrastructure coins are becoming very hot right now. Keep an eye on HYCON. The Korean blockchain space has recently been given a huge amount of funding and a regulatory green light meaning blockchain companies have every opportunity to surge forward in the years to come. Still much to prove before it becomes a big boy in the space. Time will tell.
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