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Hcash Enables Free Flow of Digital Currencies Among Various Blockchains Possible

July 19, 2017 Financial No Comments Email Email

CollinStar Capital, a leading Fintech company in Australia, recently, announced that a new project has been invested with a groundbreaking cryptocurrency, Hcash, for the first time at a recent Blockchain Meetup in Melbourne. Previously, it has made a splash on the digital currency scene in China with its function of linking block-based and blockless-based blockchain systems.

Members of Hcash’s development team in Australia attended the meetup in Melbourne and introduced the history and importance of Hcash. Short for Hyper Cash, Hcash refers to both the digital currency itself and its distributed ledger where the currency transaction records are maintained. The initial coin offering (ICO) of Hcash was launched on June 28 and was well pursued among Chinese investors. A newly Australia-based ICO platform, Futureico, who provides cryptocurrency and blockchain startups with consulting, pre-ICO and post-ICO management services, took the lead of Hcash token sales.

The world’s digital assets and blockchain markets have boomed enormously in recent years. Figures from CoinMarketCap show that by June 13, 2017, the global market value of digital assets had surpassed 110 billion USD. About 90 percent of that value belongs to more than 40 types of blockchain technologies.

“The need for a blockchain technology that allows free exchange of assets and information among different systems is increasingly urgent. The liberating ethos of blockchain technology, as in equal rights of participants to create and get access to all the activities on blockchains, will be damaged if free exchange is not available,” said Jayden Wei of CollinStar Capital.

The birth of Hcash is set against this backdrop. The blockchain mechanism behind Hcash is a distributed ledger that connects block-based and blockless-based Directed Acyclic Graph (DAG) systems, allowing ledger assets and information to be transferred between multiple cryptocurrencies.

Positioning Hcash as a “New Standard of Value”, the development team released the Hyper Cash White Paper in early June, elaborating on Hcash’s unique characteristics.

Among all the characteristics, the most important is Hcash’s adoption of quantum resistance technology to ensure security. Quantum-resistant cryptography, also known as post-quantum cryptography, is able to resist attacks by quantum computers. Through researching and developing Algorithms in-house as well as with the project’s research partner (Monash University Professors and Shanghai Jiao Tong University Professors) the post-quantum secure encryption technology can be applied in the network to provide the highest level of data security.

In addition, privacy and anonymity of Hcash user is ensured with its adoption of Zero-Knowledge Proof technology. This cutting-edge technology will not only be used to achieve bi-directional encryption in the process of asset transfer, but also many other areas demanding transactional privacy. Hcash has integrated a real-time communication function within the client, which can support multiplatform token transfer via a black address to preserve privacy in daily peer-to-peer communications.

Hcash believe in community-based ownership, therefore it integrates a Decentralized Autonomous Organization system, with which holders of Hcash can determine the use of funds in a real-time dynamic voting system.

Dallas Brooks, CEO of the Hcash project and a highly sought-after expert in financial investment strategy from Australia, said that with all these strengths, the future looks quite bright for Hcash.

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