About HyperCash (HC)
HyperCash (HC) is the cryptocurrency of a distributed ledger which links block-based and blockless blockchain systems The UTXO-based blockchain system (e.g. Bitcoin ) and account-based blockchain system (e.g. Ethereum ) has opened the door of a brand-new world for us. Although the impressive success of Bitcoin and Ethereum has certainly proven the value of blockchain technology and its massive potential in the future, we also see some inherent problems in blockchain technology along the way. Since 2015, there has been quite a few highly-promising distributed ledger systems that are not block-based gradually coming into our view, such as DAG (Directed Acyclic Graph) .
HyperCash (HC) With no doubt, a decentralized digital world is dawning, and Bitcoin or Ethereum has the potential to become the base currency in block-based distributed ledger. IOTA  or Byteball , on the other hand, may fulfil a similar role in a system based on DAG technology. Nevertheless, despite of the ability to be traded unrestrictedly on some centralized exchange platforms, these tokens, due to the fundamental differences in the underlying systems, can only circulate within their own blockchains, and would not be able to move freely from blockchain-based to blockless system or vice versa
HyperCash (HC) intention is to create a new decentralized and distributed ledger system that will bridge the gap between blockchain-based or blockless systems, thereby allowing value and information to be circulated freely between different blockchains. In addition, just as Bitcoin serves as the tools of exchange for goods or services in blockchain-based system, we also need a type of asset in the newly invented system that can reflect the value of goods or services objectively. As to the new store of value, we call it “HyperCash” (hereinafter referred to as “Hcash”
HyperCash (HC) Storage Key Points
|Circulating Supply||45,071,909.33 HC|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Chat||Click Here To Visit|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Hierarchy: DAO Governance
The Decentralized Autonomous Organization (DAO) is an unexpected, yet ideal product of the cryptography technological revolution. The root of the Decentralized Autonomous Corporation (DAC) can be traced back to the decentralized organization described by Ori Brafman in “Starfish and Spider” (2007) , and “peer production” described by Yochai Benkler in “Web Fortune” (2006) . However, these two concepts are later linked together by cryptocurrency-related technology, and gradually entered into cryptocurrency lexicon. In October 2013, Dan Larimer first put forward the idea of Decentralized Autonomous Corporation (DAC), where he considered Bitcoin as a DAC also. Openness: The design of DAC system is made with a priority for transparency. The principle of openness and transparency is the cornerstone of the entire DAC system. An organization
A DAC system must have use value and can be put into practical application. For example, several features of the bitcoin system, such as international payment network, anonymous transaction, tax avoidance and value storage, have determined the profitability of the Bitcoin DAC system and contributed to improve the value and utility of the coin for coin holders.
Even there are only a few DAC nodes exist, the DAC system can still function and develop normally. The destruction of some unit nodes will not affect the development of DAC, which is guaranteed by the decentralization property.
Changes in the core protocol of the DAC system require voting from vast majority of units, and the decentralization and autonomy feature have determined that the DAC must be a system capable of democratic voting.
Zero Knowledge Proof Zero Knowledge Proof (ZKP), also known as zk-SNARK, is the core technology behind the anonymous characteristic of Zcash. ZKP allows the prover to convince the verifier that a certain assertion is correct without providing any useful information. Taking into account the massive amount of data interaction in Hcash, we use an identification scheme where the security is based on the difficulty of solving the discrete logarithm problem. The scheme can be pre-computed to reduce the amount of real-time calculation and the amount of data needs to be transmitted. In order to generate the key pair, first select the parameters of the system: prime p and prime q, where q is the prime factor of p – 1. p ≈ 21024, q > 2160. Element g is with order q, where l ≤ g ≤ p – 1. Let a be the generator of GF (p), then g = a (p – 1) / q mod q. The system parameters (p, q, g) and the verification function (that is, the public key of the trusted third-party T) are distributed by T to verify the signature of T on the message.
Quantum Resistance Currently within the blockchain systems represented by Bitcoin, SHA-256 hash calculations and ECDSA elliptic curve cryptography serve as the most basic security protection along the Bitcoin network. However, with the advancement of quantum computer technology, especially within Shaw’s algorithm (a typical representative of the quantum algorithm), related operations can be achieved from the index level to the polynomial level in theory. Problems that are difficult for a classical computer in the foreseeable future can certainly be solved by practical quantum computers. Post-quantum cryptography, also known as quantum-resistant cryptography, is able to resist the attacks by quantum computers. The development of such encryption technology takes a more traditional path, based on difficult problems in specific mathematics fields. Through researching and developing algorithms, the post-quantum secure encryption technology can be applied in the network, and to provide the highest level of data security.
Limited Blockchain with Unlimited Transaction The DAG technology itself is not based on blocks. Therefore, it is not subject to the constraints of block validation time (for example, the validation time for Bitcoin and Ethereum is 10 minutes and15 seconds, respectively). Due to the need to take into consideration the interaction between Hcash and DAG-based blockchain system, the system has incorporated some of the advantages and strengths of DAG in its design. Thus, the validation time for transactions in the Hcash system is almost instantaneous. Also, as DAG is not based on blocks, there is no so-called block size limit in DAG. In theory, the amount of transactions that can be accommodated per unit time is fairly large (HTPS, Hyper Transaction Per Second). At the same time, Hcash needs to account for interaction with block-based blockchain systems. Consequently, it is possible for Hcash to realize a mass number of transactions per unit time under a limited block volume, thereby truly fulfilling the function of “HyperCash”.