Plenty of cryptocurrencies claim to do a far better job than Bitcoin when it comes to providing value. In the case of Hcash, currently traded as Hshare on various exchanges, there seems to be a clear plan of action and plenty of ambition. The project certainly has a lot of appeal, even though there is still some confusion as to what sets Hcash apart from the rest.
Why is Hcash Trading as Hshare?
That is by far the most intriguing question most people seem to be asking right now. There’s a very simple explanation for this. Hshare is the pre-launch value token which will be converted to Hcash at a 1:1 ratio at a later time. In essence, the two tokens have the same value, but it is a bit unclear when this conversion will take place. It is a bit confusing for novice enthusiasts, but rest assured buying 1 Hshare will net you 1 Hcash when the conversion happens.
Is HCash Based on Solid Technology?
There are many aspects of Hcash which will be rather appealing to the masses. First of all, it seems the project is primarily designed to act as a sidechain for blockchain currencies. There will be two different networks, one which relies on blockchain technology, and one which uses directed acyclic graph cryptography similar to IOTA. Both networks are interoperable with other cryptocurrencies, which should open up a lot of exciting opportunities in the future.
Additionally, Hcash wants to provide privacy in the form of public and private addresses. So-called white addresses are public, like Bitcoin, whereas black addresses are similar to stealth addresses. This feature is built on zero-knowledge proofs, a technology borrowed from Zcash. Moreover, Hcash will be made quantum resistant in the future. Whether or not the team will be successful in providing this mix of features remains to be seen, though.
Unlike what some people may think, there will be a role for proof of work as far as Hcash is concerned. It will be a hybrid PoW and PoS system to achieve proper DAO governance. By maximizing user engagement and computing power combined with an incentive for holders, the team may be on to something. By embracing the DAO governance model, users will also be able to vote on the future direction of this project.
What Comes Next for HCash?
With a lot of work ahead of the developers, it is evident there are high expectations which will need to be fulfilled. According to the roadmap, the PoW mining function should be completed very soon. The proof-of-stake technology is in place and will be combined with the hybrid approach later this month or in early February. The conversion from Hshare to Hcash is scheduled for February as well, although no specific date has been announced yet. Later this year, we will see encrypted communication between Hcash and Byteball, which is rather interesting. There are plenty of reasons to be excited, but only if the team can deliver on these promises.