What Is HyperCash (HC)?
Would you like to send BTC directly, say, to an ETH wallet? Many market participants are likely to give a positive answer to this question. More than 11 thousand cryptocurrencies are already in the market, and it became crucial to have bridges between them. In this article, we will talk about a project whose developers are trying to solve this problem. We will talk about HyperCash and the related cryptocurrency, its characteristics, advantages, disadvantages. Besides, we will talk about where it is possible to exchange HC and where to find the most profitable HyperCash price usd.
HyperCash (or simply HC) is an open-source, decentralized cross-platform cryptocurrency exchange. It is supposed to simplify the transfer of information and funds between cryptocurrency platforms operating on various technologies. For example, between BTC, a reference blockchain project, and IOTA, which runs not on the blockchain but through "weaving."
The platform was launched in 2017, and in August of the same year, the main net, which was then called HShare, was launched. A year later, in August 2018, a global update was initiated on the main net, followed by rebranding, and the platform got the new name, which is HyperCash.
HyperCash is based on two networks: a hybrid PoW and PoS blockchain of consensus mechanisms and a DAG network. Proof of Work implies using computing power to maintain network performance. Such a consensus protocol is used in Bitcoin. Proof of Stake uses proof of possession for network performance. That is, to maintain network performance, you need to own coins and not video cards or Asic miners. HC crypto uses both these technologies.
With all these, developers have achieved better bandwidth and decentralization.
HyperCash Price Index
Look at the HC price chart (which you can find in the “crypto calculator” tool on the main page Godex.io), and you can see that, immediately after the release in August 2017, the coin’s rate increased sharply, and at the peak of the last bull run (December 2017), it reached $37. After that, the HyperCash price dropped, and now (August 2021) it is $0.93.
Circulation of HyperCash
The total volume of Hyper coins is 84 million coins. To date (August 2021), 45 071 909 coins are in circulation, which is 54% of the total emission. The distribution of coins is as follows:
- 21 million coins generated using PoS
- 21 million coins generated by PoW
- 21 million coins were sold through ICO and distributed among the first wave of system users.
- 12.6 million coins sold during the presale
- 4.2 million coins reserved for developers and the Hcash foundation
- 4.2 million coins reserved for Hcash DEO.
This factors could affect the number of circulating:
- Increase – the process of mining that generates new coins every 10 minutes, on average
- Decrease – coin burn events permanently removing coins from the market.
Ways of Buying HC
HC crypto is ranked 538th in the global digital coin rankings. It is far from being the most popular cryptocurrency, so it is listed on a limited number of exchanges. The highest liquidity for the HyperCash to USD pair is on Huobi Global. It is essential to understand that this is a centralized exchange (CEX), which does not imply anonymous convert HC. To work with CEX, you must register and pass the verification procedure (KYC/AML) in most cases.
If you want to save your time and remain incognito simultaneously, then the Godex decentralized platform is what you need. There are 201 available cryptocurrencies, and you can convert HC with any of them. It is a fast, convenient, and profitable way of swapping coins.
You need a HyperCash wallet or another wallet that supports cryptocurrencies to store your HyperCash. A great way to keep your HyperCash safe is to use an offline HyperCash wallet such as Ledger Nano hardware wallet or you can download Edge wallet.