Hycon—new generation of blockchain technology
Hycon is a blockchain of a completely new prototype technology and digital asset. The technology operates on an acyclic graph algorithm, and because of this it is scalable compared to many block chains. The prototype’s work is aimed at generating completely new blocks, and the internal Specter algorithm ensures the creation of an ideal mechanism that reduces the payment of fees by half.
The team from South Korea, which represents the company Glosfer, took over the development of a completely new product and the improvement of the basic economy. Glosfer is a company that specializes in the study of blockchain technology and its implementation in a variety of business areas.
There are key persons who are involved in the development “Infinity Project”:
Taevon Kim, CEO of the company. He’s firmly believe that the future belongs to blockchain technologies. Official member of Glosfer team project.
Dongyu Ryu — has experience in the field of combating cyber crime. Dongyu Ryu is designed to provide the network with security.
Chris S. Na is a specialist in global business development. He is Vice President.
Dongseop Kim is one of the main engineers of the project, the person who is responsible for the product development. Is a supporter of the fact that soon the blockchain will cover all areas of the industry.
Sujeong Kim — engineer technologies in the block. Sujeong does not stop the development and in-depth study of the blockchain.
The project has global and ambitious plans for the implementation of the goals. One of the main goals of the authors of the project is to connect to its own network of people around the globe, despite the region of residence of the user.
One of the main roles in the formation of an ideal ecosystem will be the presence of its own internal token of the HYCON platform. Thanks to this, as well as the Dag and Specter algorithm, the network will be able to provide scalability and reliable data storage.
A loyalty program for the crypto-miners
The process of production and generation of the new unit is predetermined for the next 50 years. When mining a new block, the miner will be rewarded with tokens. For one mined block, the reward will be 8 coins.
With the lapse of time, the reward will gradually decrease. This is due to the issue of a token, which is limited in quantity.
Unlike the Bitcoin network, where the price fell almost twice for the extraction of a new block at the end of time, the authors of the hycon project intend to gradually reduce the share for the reward. This will ensure balancing of token at the time of generation of new units planned for the entire 50-year term. This means that the miner will always be motivated to provide the network.
The authors of the project announced the complete reformation of blockchain technology and improvement of the entire network. This technology has long required changes and updates, as existing networks can not cope with a heavy load and there are technical issues in increasing the price of fees, which negatively affects the community.
More info about project:
Official Web-site: https://hycon.io
Facebook: https: //facebook.com/teamhycon
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