Hathor Network: Building a Scalable Blockchain Infrastructure for a Decentralized Solution


GEORGE TOWN, CAYMAN ISLANDS / ACCESSWIRE / December 8, 2021 / The world has witnessed a number of innovations in the past decade, and without a doubt, blockchain technology is one of the most important. It has evolved from a simple concept for decentralized currency to helping solve problems in different sectors.

Decentralized applications built on smart contracts have become increasingly popular and deployed in different aspects from supply management systems, finance, tech and more. However, many blockchains protocols face the problem of striking the right balance between scalability, security, and decentralization often called the trilemma.

This puzzle has been the bane of conventional blockchains like Bitcoin and Ethereum. Traditional tech firms have been able to build scalability, security applications but face the problems of centralization. However, cracking the trilemma is key towards the progress of web 3.0 applications.

Hathor Network is a blockchain protocol that has developed a highly advanced architecture that solves the trilemma.

Solving the Trillema problem

Launched in 2020 after an intensive testing period, Hathor is focused on ensuring scalability and decentralization. Unlike other blockchain 3.0 platforms, Hathor is designed to be a one-stop, simple to use blockchain platform with low transaction fees.

Projects can quickly develop decentralized applications and tokens without any technical knowledge. It also removes the complexity witnessed in other blockchains like gas fees, token standardization and more. Hathor also offers transaction speeds of 200 TPS faster than Ethereum and Bitcoin enabling quicker confirmation times and a better experience for users on its blockchain.

A critical aspect of Hathor, as earlier stated, is the simplicity in creating dApps and tokens. Custom tokens can be created within minutes and are backed by the powerful architecture of the Hathor blockchain network. All that is required is to lock 1 HTR token for every 100 units of the token created. Furthermore, all custom tokens are fully independent and pegged to HTR for their value. Tokens can be listed on exchanges and used for governance, rewards, utility and more.

A unique blockchain architecture

Hathor has developed a highly scalable protocol by combining two mainstream technologies Directed Acyclic Graph (DAG) and blockchain technology. DAG is different from the standard blockchain as it enables transactions to be linked together and increases energy efficiency, thus reducing transaction costs.

This way, smart contracts ability is extended beyond conventional use, and transactions can be initiated for free while the underlying blockchain secures the network. Hathor has also deployed merged mining, enabling more than one crypto to be mined through the Proof-of-Work consensus.

Hathor can be mined alongside Bitcoin, and this provides an extra incentive for miners since they don’t need to spend on extra mining rigs and can use their existing mining setup. Bitcoin is the most popular cryptocurrency and the most secured due to the number of miners on its network.

Hathor can tap into an existing and established mining ecosystem to secure its blockchain with the merged mining. In addition, miners are also incentivized to keep Hathor network safe at no extra costs to their current bitcoin mining operation.

Looking at the big picture

There are tons of blockchain protocols, and the competition is stiffer than a few years ago. Nevertheless, Hathor has emerged as one of the popular web 3.0 blockchain among developers and new projects.

Its blockchain architecture has been used to build several innovative solutions, including NFT platforms 9Block and Dropull. Other platforms on the Hathor include AfferoFlow, Databoi, Anubians, EON and WorkAxle. Hathor team is also building a decentralized exchange HathorSwap that will serve as the dedicated DeFi platform.

Hathor has also made collaborative strides and announced a partnership with Simplex in October 2021 to launch debit cards. In addition, its native token HTR is also listed on popular hardware wallet Ledger, and users can store their tokens on the secure platform.

Hathor Green is an initiative from Hathor Network to incentivize miners that use green energy for their mining operations. Hathor is big on climate change and has joined the Crypto Climate Accord to advocate for reduced energy consumption in the crypto industry.

Hathor token HTR has is listed on several platforms, including Kucoin, AscendEX, Coinmetro, SimpleSwap and more. To learn more about the project, visit the links.

Media Contact –

CEO Name: Yan Martins

Email: [email protected]

Company: Hathor Labs (Hathor Network)

SOURCE: Hathor Network

View source version on accesswire.com:
https://www.accesswire.com/676637/Hathor-Network-Building-a-Scalable-Blockchain-Infrastructure-for-a-Decentralized-Solution



Source link

spot_imgspot_imgspot_img

Latest articles

Related articles

Leave a reply

Please enter your comment!
Please enter your name here

spot_imgspot_img