This is a review of the Hshare (Hcash) platform. In the sections below, you will find all you need to know about the Hshare digital currency, the Hcash wallet service, knowledge proof technology, and more.
Introducing the Hshare Platform
The Hshare (HSR) project operates on the principles of a decentralized autonomous organization based on blockchain technology. Its core feature is in letting users combine different blockchains for cross-platform interactions. The Hshare team aims to provide independent crypto trading opportunities allowing customers to use HSR coins, as well as other altcoins for a number of purposes, including buying, selling, and exchanging.
When the Hshare project was founded, its main principle was the developing of a decentralized system that would serve as a means to connect various independent blockchains for their cross-platform interaction, which would eventually maximize their potential.
Hshare is an open-source project that offers its users a highly secured algorithm for performing altcoin operations. The Hshare (or Hcash) team is describing their project as a tool of value and information transfer for major blockchains, allowing transaction activities in various currencies between both block-based and blockless systems. The Hshare coin’s name is HSR.
HSR is supported by several popular platforms. Among them are Allcoin, Binance, Bit-Z, Coinx, HashToken, etc.
Hshare or Hcash?
A beginner trader might find themselves confused by the two names related to the HSR cryptocurrency and the eponymous platform: Hshare and Hcash. Is there any difference? Technically, these two things are interchangeable. Although there is a nuance to be made clear:
- Hshare is the name of the platform and is a pre-launch value token that trades at a ratio of 1:1 for Hcash;
- Hcash is the name of the Hshare coin and a cross-platform service that is currently under development.
When you refer to the company, you can as well use one of the names.
How much does the Hshare coin cost?
Hshare coin trades at $1.56. The Hshare market cap is estimated at $130,938,189. The currency’s trading volume is $22,604,822.
What wallet service is the best for HyperCash?
Hshare has its own wallet service called Hcash wallet. But if you need a more versatile crypto wallet, you may as well consider one of Ledger’s products: Ledger Nano S or Ledger Nano X hardware wallets.
The advanced technology behind Hcash
What Hcash is interesting for is its technology that basically creates two concurrent networks:
- A blockchain-based network
- A DAG-network
Here’s how it works. We have to separate blockchain-based networks – Bitcoin and Ethereum. They both utilize mining as a means of creating cryptocurrencies in the form of series of blocks holding individual transaction ledgers. What begs the question is how can these two different platforms communicate. To be able to exchange data between them, you will need a sort of value and information carrier. Taking into account that continuing growth of the crypto community as the emergence of new independent blockchains continues, the need for a coherent system providing cross-platform value transfer is obvious.
Such a system becomes even more crucial when you think of the new type of altcoin like IOTA or Byteball that are not quite like the common cryptocurrencies of the blockchain systems. These altcoins create a web of transactions using an altogether different cryptography concept – blockless directed acyclic graph (DAG).
You know how problematic currency exchange can get due to slow processing speeds, exchange fees, and their centralized nature. When block-based currencies emerged, the idea was to offer an alternative way for private transactions with less fees and devoid of any dependence. But the goal was not actually reached since cross-platform transactions still had speed issues, fees, and central authority.
And that is what Hcash might be useful for. This open-source system working on DAO governance will operate as a side chain for both block bases and those currencies that implement directed acyclic graph technology. The concept is quite simple to put it in just one sentence: Hcash will offer addresses that will work for different altcoins so that users will be able to make unlimited transactions in various crypto coins using their Hcash e-wallet.
How Will Hcash Solve a Privacy Issue?
To solve a privacy issue that will occur during cross-platform operations, Hcash developed the system of public and private addresses. This system will create two types of addresses. One of them will be publicly displayed, and another one will be kept secret, and only a user will know it. To make this white/black-address system work, Hcash plans to use a so-called zero-knowledge-proof technology.
Zero-knowledge proof technology has already been successfully implemented in a Zcach blockchain. What it does is encrypts the sender/receiver’s personal information keeping it hidden during transactions.
Whether or not Hcash will manage to pull that technique off is yet to be seen since the system has not been launched yet. One thing we know for sure: if Hcash succeeds in hiding users’ personal data during cross-platform transactions, it will be a breakthrough for the whole community since keeping personal data is becoming harder and harder as hackers improve their skills and upgrade computing power to breach security systems.
By the way, speaking of computers and how they may develop in the future – there is a problem that is yet to be faced. It’s called quantum resistance. What is quantum resistance? Well, it’s the concept that anticipates the emergence of quantum computers that will definitely be game-changers in numerous aspects of our life. Cryptocurrency is no exception.
With quantum computing, processors will operate in more than just zeros and ones, which will result in a number of serious privacy threats. And while we cannot predict when quantum computing will appear, Hcash is already thinking about how to make its system quantum resistant.
Proof of Work and Proof of Stake are the two methods of transaction verification and block creation. The former one (PoW) is more popular, although it requires an insane amount of power and is slower than the latter. At the same time, Proof of Stake (PoS) is a lot lighter on power consumption and is potentially safer. So as of today, we think that it is fair to say that PoS will meet extensive use in the nearest future.
But Hcash developers came up with their own solution. Instead of choosing between PoW and PoS, they decided to combine the two and develop a hybrid verification system.
With such a system, Hshare aims to kill two birds with one stone:
- PoW will operate to encourage miners to keep on contributing their computing power to the network.
- PoS will operate to encourage average users to stay within the system.
The Hshare (HSR) Pros and Cons
- Hshare offers an innovative concept aiming to create a global cross-platform value and information carrier service that may become a breakthrough for both the cryptocurrency industry and the private network sector.
- Specialists admit that there are still a number of technical issues to be solved before the project is launched.
Is investing in HSR good investment advice? Well, being one of the latest technologies to date, Hshare is definitely something to consider. Still, there are some technical issues that also should be regarded when making a decision to make any investments in the platform.
The Advantages of the Hshare platform.
The platform has a number of advantages that make it a service that any crypto trader must consider:
- Hshare is hidden
- The platform has its strict hierarchy
- This is a functional system
- Hshare implements a hybrid PoW/PoS system
- This is a side chain technology that works with two separate altcoin systems (block-based and DAG).
Is Hshare Coin a scam coin?
There are rumors circulating the Internet that Hshare coin is indeed a scam altcoin. Even more, some users insist that HSR did not even intend to create any platform in the first place. Another thing to take into account in that matter is the Hcash Github page. It is open to the entire community so that anyone can commit. But the thing with the Hcash is that its Github page is almost totally ignored. It has had a limited number of commits from only one user for several months, which may look alarming. However, if you look further, you will see quite the opposite opinion about the platform.
Is Hshare legit?
The misunderstanding that surrounds Hshare/Hcash platform is, in reality, the result of confusion and lack of attention to detail. So as of today, Hcash (their name is more commonly used) is legit and deemed to be safe to use.