MELBOURNE, AUSTRALIA / ACCESSWIRE / November 27, 2017 / Hcash announced today that it would design a cross-chain smart interchange protocol based on Qtum's underlying technology. The new Hcash ecosystem will realize cross-chain transactions that are not possible today. Gradually, Hcash will allow for the exchange of digital assets issued by different platforms and chains, thereby enhance the liquidity of all cryptocurrency assets and maximize their market values.
Meanwhile, as the blockchain community continues to move parallel to the business world, Hcash foundation's sub-project Hyperpay will also be fully integrated with the Qtum quantum chain to provide an underlining infrastructure for mobile payments. This joint effort will promote more applications of the blockchain technology, and improve product usability.
Qtum's Founder Chu Shuai (left) and Chairman of Hcash Foundation Ryan Xu (Right) in November 2017
Hcash is one of the most advanced blockchains that took advantage of many technological breakthroughs that were not available to early blockchain developers. The main 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. It has also adopted a hybrid Proof-of-Work (PoW) + Proof-of-Stake (PoS) for securing, governing and upgrading the network. As a result, Hcash is able to apply a more open governance model, where stakeholders have more input in the future direction of the protocol. In addition, Hcash transactions and smart contracts can be conducted with an extra layer of cryptographic protection, affording its users enhanced privacy. This is made possible by implementing a technology called zk-SNARKs, a novel form of zero-knowledge cryptography that allows fully encrypted transactions to verified as valid under the network's consensus rules using zk-SNARK proofs.
At present, a transaction between Hcash and Qtum can only rely on third-party issued tokens such as Bitcoin or Ethereum as an intermediary. This exchange mode requires that the third-party platforms to have higher safety and efficiency standards than what they are currently offering, so transactions will take some extra time to complete. However, once Hcash and Qtum cross-link agreements are developed, users can take advantage of the smart cross-link asset exchange protocol to achieve an immediate decentralized exchange.
After Bitcoin, the public, private, and the coalition blockchains expanded rapidly. From the current development process of the blockchain, one can expect that the future is an era of multi-strand coexistence of humongous value network. In this value network, the more widely distributed and active the nodes, the more significant value the network will provide. The emergence of Hcash has led to the free flow of trust-based value across different blockchain systems. This time, Hcash and Qtum is the perfect match to explore cross-chain transactions of digital assets and cross-link realization of varying blockchain links in unison. This collaboration will revolutionize the value chain and enhance the value of different blockchain flow.
In the future, Hcash tokens will be distributed directly onto the Qtum Quantum chain system. With smart contracts, Distributed App (DApp) will lead to an open, highly scalable ecosystem.
About Hcash
Hcash, a "New Standard of Value", is a prominent open blockchain / cryptocurrency that is currently number 20 on the cryptocurrencies worldwide chart with a coin market cap of $834,760,175.
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SOURCE: Hcash