HYCON (HYPERCONNECTED COIN) - A REVIEW

It is the worst kept secret that paper money as we know it is on its last legs. Money is transforming from a tangible material which is handheld to something transferred around freely on the internet. It was a natural chain of events for a new form of currency to oust fiat currency in our reckoning. This revolution began with the release of bitcoin whitepaper in 2008. Cryptocurrency has been a revelation since its introduction and it has come in leap and bounds since. That is not to say the technology has had a smooth ride since then, there are still a number of improvements to be made for it to be widely accepted. These problems that need to be solved to bring the blockchain technology close to perfection can be reffered to as Cryptocurrency Last Mile.

Let’s look at some of the problems currently plaguing the blockchain technology;
• Slow Transaction Speed: The present blockchain technology is not fast enough to displace established centralized transaction platforms like VISA and Mastercard in customers reckoning.
• Insecurity: This is one of the major barrier to potential investors. Simply put, they fear for the safety of their funds. The reason behind this is not far-fetched as there have been several instances of hacking the blockchain technology.
• Wasted Resources: The energy resources needed to maintain both the bitcoin and etherum blockchain is excessive. Try to imagine the two major blockchains (bitcoin and etherum) using power that could be enough for some countries for a year during the same time span.
• Usability: The viability of cryptocurrency to be used as a standard means of exchange has been questioned severally. One of such reasons is the duration of time taken to verify a transaction. Taking a look at a real world example, you would have to wait the best part of an hour for your transaction to be verified before you can fill your car tank at a gas station. Another reason is privacy. People shy away from the blockchain technology because all the transactions you make are available to the public.
Other limitations include Latency, Size and bandwith issues and Hard forks. However, Thanks to the team of Infinity Project who have taken large strides towards addressing the shortcomings of the blockchain technology with a goal of improving its acceptability from the general public.

HYCON, THE SOLUTION?
My answer to this question will be, Yes. The team in charge of the Hycon project have taken time to study the shortcomings of existing cryptocurrencies and a lot of work has gone into researching new technologies and algorithms that will speeden up mass adoption of cryptocurrencies.
Infinity Project Core Goals include;
• Identification of actual market needs for a cryptocurrency
• Development of a flexible cryptocurrency
• Creation of a user-centric blockchain platform
• Development of an ecosystem that promotes sustainable innovation
• Investigating methods for a decentralized cryptocurrency exchange
The team executing this project is determined to improve the blockchain experience for users and put the cryptocurrency on a higher pedestal even surpassing that of electronically exchanged fiat currency. Hycon, which is part of the Infinity ecosystem has several applications which I will discuss in detail in my next publication.

For more information, check any of the important links below;
Hycon Official Website: https://hycon.io
Hycon Telegram Page: https://t.me/teamhycom
Hycon Whitepaper: https://hycon.io/doc/whitepaper_en.pdf

THIS ARTICLE IS NOT INTENDED TO BE A FORM OF FINANCIAL ADVICE. MAKE YOUR OWN RESEARCH.