Cryptocurrency

Hcash looks to let assets flow between blockchains

Hcash
(C) iStock.com/maxsattana

The boom in cryptocurrencies and blockchain market has spawned an ever-growing number of distinct databases and tokens.

CoinMarketCap figures show that, as of June 2017, that the digital assets market was worth over $110 billion, 90% of which belongs to more than 40 different blockchain technologies.

But is there a way for assets to flow between these separate systems and currencies?

Hcash is looking to solve this problem. The company’s cryptocurrency is based on a distributed ledger that connects both block-based and blockless-based directed acyclic graph systems, allowing different systems to easily pass information and value from one to the other.

“The need for a blockchain technology that allows free exchange of assets and information among different systems is increasingly urgent,” Jayden Wei of CollinStar Capital said.

“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 damage if free exchange is not available.”

Bridging the gaps

The company lists several important features of the Hcash platform:

‘Side chain’

The platform will function as a ‘side chain’ for both block-based and non-block blockchains.

By attempting to establish a channel between systems based on completely different data structures, the platform wants to be compatible with the current mainstream blockchain technical standard while also allowing new blockchain technology to communicate with the current blockchain system.

Hybrid governance

Hcash uses an Instant-Open-Governance model that allows all token holders to participate in decisions through the PoS mining mechanism. Holders will even get a say in protocol updates and upgrades.

Zero Knowledge Proof

Zero knowledge Proof is a way that allows one person to prove to another that an assertion is correct without providing any identifying information. The Hcash system uses an identification scheme which is based around the difficulty of solving the discrete logarithm.

 

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