What Is My Hush Wallet?
You can find My Hush Wallet at MyHush.org and it is a privately implemented portion of the Zerocash Protocol from Zcash. You can find out how it works in this interview.
The company is basically a private blockchain that is designed to offer a high standard of security as well as privacy. The promise to deliver far more than that of traditional startups. It’s the use of the Zerocash protocol that has been forked from Zcash that will be based on the original source code used by Bitcoin.
Zcash was developed to give higher standards of privacy and to help with the use of zero knowledge prods. The new Hush service is said to expand on the idea and create a superior privacy platform. That platform is promised to be developed for people by people.
Why use HUSH? Because the development team believes there are not enough currencies in which the communities voice is heard by the development team. They want to truly listen to the different discussions and suggestions to help make a platform and coin with superior community and communication between users and developers.
It was first announced in November of 2016.
How My Hush Wallet Secure Crypto Payments & Messenger Works
The team has set things up to follow the same steps as those given by the team at Zcash. Also, the team doesn’t have any reasons to create needless coins. Zcash had a special ceremony in which they destroyed the private key. Hush then decided to become a fork of Zcash because of their commitment to privacy. They also chose it because of their well-vetted mining algorithm that protects against ASIC mining.
Hush describes itself as a new project for cryptocurrency and blockchain technology that has been derived from Zcash. But they claim to have much bigger goals in mind than that of the former. The team stated that they simply wanted to create an easy to use operating system that would also be used for private messaging as well.
Hush’s development team is also seen itself as building on the workings of an already strong team. They are basically building upon the backs of the people who created TOR browser and Signal as well as other private communications systems:
“By combining their techniques with newly-emerging technologies such as blockchain, Zerocash, and IPFS, we are able to provide a much deeper guarantee of privacy and decentralization within an all-in-one communications stack that comes with a robust profile management system,” stated some of the members of the development team at a recent interview given with InvestInBlockchain.com.
The team also has plans to transfer in the Ethereum Virtual Machine to Hush. They’ll do so by using smart contracts and users will then be able to write and execute newer contracts using the business logic they gain through the port. And contracts solidly written with the Ethereum system will be ported directly over to HUSH’s Virtual Machine. The end results are going to be a privately decentralized full web stack that is available to the entire community.
Here are some of the key technical specifications for HUSH:
- Algorithm: Equihash
- Block Time: 2.5 minutes
- Block Reward: 12.5 Hush (12.5 Miner)
- Difficulty Adjustment: Every block, Digishield V3
- Reward Halving: Every 4 years (same as bitcoin)
- Total Coin Supply: 21 million (same as bitcoin)
- Founders Reward: Removed
- Premine: 0.578%
- P2P Port: 8888
- RPC Port: 8822
There are other benefits you can supposedly get from using HUSH. They come in the way of developer interaction. And some of the key benefits advertised on the website are:
- You can give input and contribute, knowing it will be heard
- There will be a constant building of value and stability for the platform
- There will only be a small premine and dedicated team that guarantees finances are not a problem
They also pushed that the next features would be available as well:
- Open Source: Anyone in the community can propose updates, comment and review anything to do with the project
- Anonymous: Any payments on the network are 100% private and anonymous
- Decentralized: P2P network operation
- Safety: Complete security and privacy thanks to quality encryption
- Worldwide: Transfer money to anyone in the world
- Fast: Transactions and payments are processed near instantaneously
They also aim to have several other products and services for users to rely on:
- Windows installers
- Desktop wallets
- IPFS integration for big messages and when sending binary files
- Lightweight clients
- Hush- funding and assets as well as smart contracts
- XCAT with Zcash
Any products or services listed on the above list are said to be released in descending order of release. Also, HUSH has desktop wallets for multiple operating systems are available. They even have a block explorer at explorer.myhush.org you can use.
My Hush Wallet HUSH ICO Details
The tokens are listed on CoinMarketCap and can be picked up on several different exchanges. Also, the currency sits in the top 400 cryptocurrencies according to the market cap. It continually hovers around the number four hundred spot.
Also, as of December of last year – HUSH had a token price of $1.76 USD, with a supply circulating around 2.2 million from the original max of 21 million. There is a market cap as of now at $4 million.
Who Is Behind My Hush Wallet?
Hush is led by David Mercer (Lead Developer), Iolar Demartini Jr. (Founder and web Developer), Matthew Reichardt (Core Developer, Tooling and Forum), and Larry Ludlow (Core Developer & Infrastructure).
My Hush Wallet Conclusion
Zcash has already proven to be mostly privacy focused. And like Zcash, My Hush Wallet uses the zero knowledge proofs. The main benefit is that Hush is committed to an open source technology and community. The project is being developed with a major user focus – including maximum privacy for them at the forefront of their mind. You can learn more about the company at MyHush.org.