An open-source blockchain cryptocurrency based on the blockchain technology of Dash Coin focused on offering a faster and cheaper global payments network that is decentralized in nature.
A digital currency that can be used to send or receive payments.
Dash is a straight fork from Bitcoin, but it has implemented many innovative features to the initial technology. One of them is an improved Bitcoin consensus, such as the use of X11 hash algorithms for low PoW energy consumption and master adjustment of Masternodes. The use of last allows a wider list of operational functions, for example, the creation of DAO for the governing protocol.
Additionally, masternodes are considered a far more secure solution. They offer such level of security that one would have to deposit a considerable amount of native cryptocurrency in order to be able to process. It prevents the attacks of potentially malicious members against the network.
Since 2020, HNC has grown and adapted Dash blockchain technology
in order to include the following features.
Two-tier network with incentivized nodes, including “MasterNodes,” to ensure a decentralized free-government control project.
Masternodes were invented as a unique feature of the HNC COIN network and form a second layer used to ensure the blockchain is ready and available to all network participants. Masternodes also perform a number of other functions related to the efficiency of the network, such as governance, securely storing user data, processing transactions for light wallets and facilitating instant and private transactions.
Unlike many other digital currencies, HNC COIN transactions are secure and visible to the entire network in less than 1 second.
Dash Core’s InstantSend feature provides a way to lock transaction inputs and enable secure, instantaneous transactions. The first element of the InstantSend feature is transaction locking. This mechanism is designed to prevent double-spends in the Dash network. This is accomplished by sending a message that consists of the transaction, and the accompanying lock command. Once the locking message has propagated across the Dash network, a set of deterministically selected masternodes, which is the second element of Dash’s InstantSend feature, will form a consensus. Once consensus is successfully achieved, another message will be propagated across the network, and at this point, all clients will respect the lock on the funds.
Which makes the HNC blockchain instantly immutable.
HNC uses a two-tier network to secure its transactions. The first tier consists of nodes that carry out mining operations under a proof-of-work consensus protocol, meaning that they compete to solve complex cryptographic problems, and at least 51% of nodes must approve a transaction for it to be added to the blockchain.
The PoW algorithm used by HNC is called “X11” — an algorithm used by Dash blockchain uses a sequence of 11 hashing algorithms. According to Dash’s documentation, X11 is “one of the safest and most sophisticated cryptographic hashes in use, by modern cryptocurrencies.”
The second tier consists of master nodes operating under a proof-of-service consensus algorithm in which master nodes are rated based on their history of providing good services to the network. Masternodes oversee the network and have the power to reject new blocks added by nodes if they were approved improperly.
Which offers additional optional privacy for transactions.
HNC COIN offers optional transaction anonymity through a feature called PrivateSend. PrivateSend allows you to break up your HNC COIN into specific denominations and “mix” these with other participants, thereby obscuring the origin of funds used in the final transaction. PrivateSend offers superior privacy to centralized mixing services because each round of mixing is facilitated by a different master node, making it effectively impossible to track funds on the blockchain.
HNC COIN offers competitive fees with minimum losses.
Near-zero fees, regardless the amount of blocks transferred in a single transfer of digital assets. Transactions are instant and final, protecting merchants from expensive fraudulent chargebacks.