HDAC – IoT Contract & Payment Platform Blockchain For Devices?
There are now a number of projects in the crypto ecosystem that are attempting to combine the Internet of Things and the blockchain. The Internet of Things, or IoT, networks the devices we use on a daily basis, such as appliances, smart homes, smart cars, wearable devices, or virtually any other smart device imaginable.
Industry experts predict that by 2025 there will be more than 30 billion interconnected IoT devices in the world. Innovative developers in the blockchain space are not attempting to take the Internet of Things onto the blockchain, which can be considered the future of the internet itself.
By bringing IoT devices onto the blockchain, it’s possible to create a “machine economy” in which interconnected IoT devices communicate with each other and make payments to each other for services and goods, all without human intervention.
Hdac is a new blockchain-based payment platform that is designed to facilitate fast and secure payments and communication between IoT devices. Backed by Hyundai BS&C, the Hdac platform is set to launch an ICO that will allow investors to participate in the development of this interesting project.
In this article, we’ll take a look at the Hdac platform and find out how it plans to change the way IoT devices communicate with each other. We’ll also examine the upcoming Hdac ICO and break down the specifics of the Hdac token sale to help you determine whether it’s worth participating in.
What Is HDAC?
Hdac is a next-generation trust based digital service platform focused on bringing IoT technology onto the blockchain. The platform intends to create smart contracts that allow all IoT devices to communicate with each other.
The core concept of the Hdac platform revolves around the Hdac token, or Hdac*T. These tokens will be used by IoT devices as a secure micropayment method that can’t be accessed by a third party, giving users complete control over the finances involved in all of their IoT device management.
How HDAC Works
The Hdac platform is configured as a completely hidden network that utilizes safe tunnelling between users and devices. This practice completely eliminates the threat of hacking, privacy invasion, and other cyber security issues.
One of the most interesting aspects of the Hdac blockchain is the method of consensus it uses. Unlike contemporary methods of consensus, such as Proof of Worth- which causes energy waste- and Proof of Stake– which creates unequal share between stakeholders, Hdac uses a new method of consensus called ePoW.
The ePoW method used by Hdac incorporates a block window mechanism that limits power wastage and eliminates stakeholder imbalance, creating a truly evenly distributed decentralized network. The Hdac blockchain will also seamlessly link private and public blockchains through the creation of a Bridge Node intermediary that executes key configuration to link disparate chains.
Hdac also incorporates a quantum random number generator when creating wallet addresses, private keys, and public keys, which is far more effective and secure than the pseudo random number generators in use today
The HDAC ICO
In order to generate the capital necessary to create the Hdac network, Hdac will be launching an initial coin offering. Dac tokens will be issued at an exchange rate of 0.1BTC to 1,800 DAC. The entire token generation event has a goal of 6,000 BTC.
During the token generation event, 12 billion DAC will be created. Of these 12 billion tokens, 7% will be held by Hdac for capital reserve, while another 7% will be distributed to Hdac presale and TGE participants. The remaining 86% of the tokens generated in the event will be available through equitable ePoW mining, with the first block reward set at 5,000 Hdac.
The pre-mined DAC generated during the token event- which amounts to 14% of the total amount of DAC- will be distributed between capital reserve, Hdac technology implementation, global marketing, social media management, bounty programs, infrastructure development, liquidity management, and ecosystem organization.
Hdac plan to launch a number of services directly after the conclusion of the token event, including the launch of the Hdac consensus algorithm, a hardware wallet, an advanced security model, and an apps API. The Hdac website offers a detailed roadmap that breaks down milestones already achieved and those yet to be completed.
Hdac is an ambitious project that brings something unique to the ICO table– a new and innovative consensus method. If you’re interested in seeing how the blockchain can affect the rapidly developing IoT ecosystem, Hdac is definitely worth keeping a close eye on.