H Cash

Hcash is a decentralized, open-source, cross-platform cryptocurrency that aims to help you exchange value and data across platforms easily. Here’s our review.

What Is H Cash?

Hcash is a cryptocurrency built on its own unique blockchain. The platform is designed to be a side chain for both block-based and blockless-based blockchains. Hshares is the currency used for the Hcash blockchain, although it appears that Hshares will eventually turn into Hcash.

The developers describe Hcash as “a value and information carrier for major blockchains to enable the exchange of value and information between these systems.”

The ICO for Hcash took place in June 2017. You can visit the official website online today at H.cash. You can also purchase Hshare tokens (HSR) at Binance and other exchanges. Coinmarketcap currently lists a price of around $11 USD per HSR token, with a total supply of around 42 million (circulating supply of approximately 34 million). Overall, Hcash has a market cap of $370 million.

How Does H Cash Work?

Hcash uses a unique consensus mechanism that works as a hybrid between PoW and PoS. The developers based the consensus mechanism off the ideas behind Decred and Dash, creating an instant open governance system. This system allows all token holders to participate in community decisions through PoS mining. Those decisions include protocol updates and upgrades.

Once a vote has been passed, all decisions are recorded in the blockchain and enforced. This avoids the centralized mining problem seen in other blockchains.

Meanwhile, Hcash’s PoW mechanism is set to prevent pre-ICO investors occupying an excessively large portion of rewards in a PoS distribution. That’s where the hybrid PoW/PoS system comes into play.

Basically, mining starts in a traditional PoW way where all miners compete to solve a cryptographic problem. The blocks being mined do not contain any transactions (they are more like templates), so the winning blocks will only include a header and the miner’s reward address. When this occurs, the system will switch to PoS. Validators that hold a higher number of coins have a higher probability of being selected.

H Cash Features And Benefits

What distinguishes Hcash from the hundreds of other cryptocurrencies out there? Here are some of the features and benefits:

Hive:

Hcash has a dual sidechain composed of blockchain and DAG systems, designed to implement an unrestricted flow of information and value between blockchain-based and blockless-based distributed systems.

Private:

Hcash will adopt zero knowledge proof technology to achieve two-way encryption (they call this “bi-directional encryption” on the official H.cash website, for whatever reason).

Hierarchical:

Hcash offers DAO-style governance, where holders of Hcash determine the use of funds in a real-time dynamic voting system.

Resistant To Quantum Computers:

Hcash claims to have taken quantum resistance into consideration from the very beginnings of system design. Obviously, quantum computer technology is a major concern for certain other blockchains.

Uses For H Cash

Some of the potential uses for Hcash include:

  • “Ultra Cash”: Ultra Cash is a new, decentralized cryptocurrency platform that aims to be the connecting point for all blockchain systems, regardless of whether or not they use blocks.
  • Fintech Applications: Hcash and other blockchains have a wide range of applicable use cases across the fintech space.
  • Internet of Things: Hcash isn’t specific about how it can be used for IoT purposes.
  • Industrial Internet, Big Data, and More: Hcash identifies several use cases for their blockchain, although they don’t go into a lot of specific details.

Overall, Hcash’s whitepaper and website have faced criticism for their lack of information about the platform.

Who’s Behind H Cash?

Hcash is led by Dallas Brooks (CEO), Khal Achkar (CTO), and Andrew Wasylewicz (Business Development Manager).

The company lists a number of different research partners, including the Shanghai Jiao Tong University (SJTU), Hong Kong Polytechnic University (PolyU), and Monash University (based in Australia).

Hcash itself lists its headquarters as Melbourne, Australia, although the company has a significant presence in China (it’s been called “the DASH of China”, for example). The company was founded in 2016.

The HCash ICO

The Hcash ICO was completed in July 2017. The company distributed 33.6 million tokens (40% of the total supply) during the ICO and pre-ICO. 15% was distributed during the pre-ICO (12.6 million), while 25% was distributed during the main ICO (21 million).

Out of the remaining supply, 25% each was set aside for creation by PoW and PoS, while 5% was dedicated to the development team and Hcash Foundation, with the final 5% allocated to the Hcash DAO.

The Hcash whitepaper mentions a total supply of 84 million. Currently, there’s a circulating supply of 34 million HSR, out of a total supply of 42 million HSR. The coin has a market cap of around $370 million, putting it in the top 20 cryptocurrencies worldwide.

There’s some controversy over the Hcash market cap. Reports online seem to indicate that the coin started as a small coin trading around $20 with a market cap of about $20 million. Then, the developers gave anyone holding Hcash 500 times their balance. More coins in circulation led to a higher market cap because the market never reacted to the price change.

A Hcash wallet is available download from the official website at H.cash.

HCash Conclusion

Hcash is a digital currency that uses a hybrid consensus mechanism combining both PoW and PoS. It also has zero knowledge proof technology, a quantum resistance key pair system, enhanced privacy, near-instant microtransaction transfer speeds, and a DAO governance structure. Other benefits include simplified mining, reliable transactions, smart contracts, and cross-blockchain payment accessibility. Basically, Hcash claims to be the best blockchain ever made.

Overall, Hcash aims to be “the new standard of value”, and aims to connect multiple blockchains together – including block-based blockchains and blockless-based blockchains.

Unfortunately, the currency has faced some criticism for its shoddy marketing, poorly-written whitepaper, and awkward token distribution. Some call it a scam coin meant to deceive investors – particularly Chinese investors. Others claim it’s just suffering from awkward translation errors and marketing problems.

To learn more about Hcash, visit the platform online today at H.cash.

TOP GUIDE ON HOW TO BUY BITCOIN TODAY

Enter Your Email To Receive Weekly Cryptocurrency Coin Reviews, News & Investing Insights

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here