Hshare (HSR) is the pre-launch token of Hcash, which is set to be a cryptocurrency built on its own decentralized platform. Hcash, short for “Hypercash”, will combine the security of the blockchain with the high throughput of DAG (Directed Acyclic Graph) technology to provide interoperable solutions to existing chains.
Hcash’s goal is to create a distributed ledger platform that will close the gap between blockchain-based and blockless systems by allowing value and information to be securely transferred between different chains. The Hcash team wanted a digital asset that could objectively reflect the value of goods or services, so they created HyperCash to function as the platform’s store of value.
Since it will take some time to implement Hcash code and develop all of its features, ICO investors were given Hshare first to serve as a sort of placeholder. Anyone who owns Hshare tokens will be able to redeem them for Hcash at any online exchanges that decides to carry the tokens, or directly with the Hcash team once the platform goes live.
How Hcash Works
UTXO-based blockchain systems, like Bitcoin, and account-based blockchain systems, like Ethereum, have both opened the door to a new world of technological innovation. Several promising distributed, decentralized ledger systems that are not blockchain-based have also been gaining popularity. A blockless chain, like DAG for example, accomplishes the same goals as a conventional blockchain, but allows for faster consensus without the same block size requirements.
Due to the fundamental differences between blockchain-based and blockless systems, tokens can only be transferred within their own blockchains or on centralized exchange platforms. They can’t freely move from blockchain to blockless systems, or vice versa. Hcash wants to redefine the value of the blockchain by creating a platform that can connect blockchain-based systems (like Bitcoin or Ethereum) and blockless systems (like IOTA or Byteball), and allow value and information to circulate unrestricted among systems. The Hcash platform is designed to function as a sidechain for both systems with Hshare (and later Hcash) as the medium for cross-platform value exchange.
Hybrid Consensus Model
Achieving fair consensus has become a problem for many cryptocurrencies today. You can see this in proof-of-work assets like Bitcoin, which has struggled to get technical upgrades over the past three years, and proof-of-stake currencies like Zcash, whose increasingly centralized governance system has discouraged many members of the community from participating.
To avoid these pitfalls, Hcash is implementing a hybrid proof-of-work/proof-of-stake open-governance model. All Hshare holders can participate in major network decisions using a proof-of-stake mechanism, but a proof-of-work mechanism is used to prevent pre-ICO investors from receiving disproportion rewards from the proof-of-stake distribution mechanism. The proof-of-work mechanism that has been put in place for HCR also provides network securit,y as it has been proven to be the most effective way to protect blockchain-based systems.
Although using a proof-of-work model will inevitably consume a lot of energy, the Hcash team believes the trade off is worth the security benefits it brings to the network. On top of that, combining a proof-of-work with a proof-of-stake mining process enhances the overall security of the system as a whole.
Hshare vs. Other Cryptocurrencies
Hshare is unique from many other cryptocurrencies for seven primary reasons:
1. Hive Function – Hcash has dual sidechains designed to provide an unrestricted flow of information and value between blockchain and blockless systems.
2. Privacy Guaranteed – its public and private addresses are compatible with Zcash and Byteball address systems to enable users to directly send and receive ZEC, GBYTE, or similar cryptocurrencies from a blockchain to a blockless system, and vice versa. Hcash also uses zero-knowledge proof technology to give users transactional privacy.
3. Open Governance Model – Hcash uses a combination of proof-of-work and proof-of-stake models to provide security and give every token holder the right to participate in decision making through a proof-of-stake mining mechanism.
4. DAO Governance – Hshare holders decide how to use funds in real-time using a dynamic voting system.
5. Quantum Resistance – the Hcash team considered quantum resistance from the very beginning. The system is designed to resist attacks from quantum computers. It will have a natural advantage over other systems after the rise of practical quantum computers.
6. Public and Private Ledgers – users can transfer tokens between public and private addresses right from their wallets. The delivery across different systems can also be requested for public- or private-addressed coins.
7. Unlimited, Fast Transactions – Hcash has incorporated some of the strengths of DAG technology in its design. Holders can transfer tokens an unlimited number of times with a limited block size no matter the amount or speed of the transfer. The validation time for transactions in the system is almost instantaneous.
Hshare Pricing, Market Cap and Volume
There is a maximum available supply of 84,000,000 HSR and a little more than half of that is already in circulation. The ICO started on June 28, 2017 and ended on July 15. It raised 21,000 BTC (worth just under $1 million USD at the time). The tokens are distributed as follows:
- 25% will be made via proof-of-work
- 25% will be made via proof-of-stake
- 25% were issued for the ICO
- 15% were issued for pre-ICO sales
- 5% is reserved for the development team
- 5% is reserved for the Hcash DAO
Hshare was released to exchange platforms on August 20, 2017. Holders can trade their tokens for Hcash at a 1:1 ratio after the launch of the main platform in mid-February 2018. Official announcements will be made explaining how and where holders can swap their Hshare tokens for Hcash.
Buying, Storing and Selling Hshare
Hshare can be acquired from Binance, Coinnest, ZB.com, Bit-Z, Huobi, OKEx, EXX, TopBTC, Allcoin, Gate.io, CoolCoin, Kucoin, U-coin, COINX, AEX, and Cryptopia. Binance has the highest trading volume of HSR. HSR tokens can be stored in the official Hcash Wallet, which is available on Windows and Mac OSX, with mobile versions also available for Android and iOS. As of January 2018, no third party wallets support HSR tokens, with the exception of a little-known service called Hwallets.
Liquidity
Hshare surprised the cryptocurrency community when it seemingly came out of nowhere and managed to become the 12th most valuable digital asset by market capitalization. Its market cap reached over $1 billion USD within a week of its official release, but it tumbled a few weeks later. The value of HSR has been erratic in the months following its release, but speculators are optimistic that it could go up once the Hcash platform finally goes live and Hshare tokens are swapped for Hcash.
