Hcash successfully completed its ICO on 15th July 2017. The ICO is initially scheduled to open for a month starting on 28th June and ending on the 28th July. Despite current market conditions, Hcash ICO has managed to defy prevailing market sentiment and raised 21,000 BTC equivalent in funding in less than three weeks.
Short for Hyper Cash, Hcash refers to a crypto-currency itself as well as the distributed ledger where transactions within its system are recorded. Hcash has made its way into the spotlight recently due to its ability to bridge transactions between Blockchain technology and its rival method DAG (Directed Acyclic Graph), which has risen as a successor to Blockchain technology as it fixed many of its current issues.
Hshares were distributed during the ICO, each share representing ownership of an equivalent number of Hcash tokens that are redeemable when the Hcash Mainchain comes online, this can be done directly with the development team or via participating ICO platforms post launch. The Mainchain is scheduled to come online 10 months after its ICO completed.
Mainstream blockchain-based crypto-currencies, such as Bitcoin and Ethereum employ blockchain technology within a distributed ledger to tamper-proof its records. While DAG-based crypto-currencies have a similar method of tamper proofing, they fix the major flaws of blockchain-based crypto-currencies, namely Transaction costs, scalability and offline transactions, however they are inherently not truly trustless or decentralized compared to blockchain-based crypto-currencies. DAG enabled coins such as IOTA are aiming to position themselves as leaders in efficient transactions as DAG systems need to process less information to maintain their chain.
Both blockchain-based and DAG-based crypto-currencies have their merits and limitations in such a way that they will not be mutually exclusive and unlikely to replace each other in the future. With the growing importance and applications in both types of crypto-currencies raise a greater problem. Since these crypto-currencies are powered by different kinds of ledger technology, they do not have an effective way to exchange information and value. What Hcash aims to do is address the elephant in the room and harmonize this gap in the crypto-currency ecosystem.
“A lot of other ICOs might raise money for a project, for example create a token on the Ethereum chain, and that is the end of it, there is no further development with that. With Hcash, it’s on a nature cryptocurrency itself. The value of Hcash is within the Hcash token and looking to enhance that, and being the central point of the exchange. It’s all about the actual cryptocurrency and ongoing developments will occur within so, and that’s what the value lays.” Says Andrew Wasylewicz, business development manager of Hcash.
For more information regarding token distribution, check out Hcash and following Hcash WeChat Official account. The token distribution will start from 24, Jul. For more information regarding token distribution, check out H.cash and follow Hcash WeChat Official account.