Money, Payment and Store of Value



Open cryptocurrency for large-scale payment and real-time settlement with high "Monetary Nature"

Why does Hacash have superior "Monetary Nature"?

The invention of blockchain is to achieve the goal of "Peer-to-Peer Electronic Cash System". Up to now, there is no exact evidence to show that it has a particularly significant value and real use other than "Electronic Money". We believe that the whole encryption industry, or blockchain industry, has only one important direction from beginning to end: To achieve a more sound and efficient global currency.

As the first sentence of Hacash white paper says, "We have come to the threshold of the era of monetary system reform.". The emergence of bitcoin shows us the direction of change, and its great value is beyond doubt, but it does not mean that we can get the best and final solution for the first time. After all, human beings always need to move forward rather than stop. The purpose of the emergence of Hacash is to prove that the only way to surpass bitcoin and achieve the large-scale use of cryptocurrency in real business and daily life is better "Monetary Nature", rather than any other more high-end and complex "blockchain technology".

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What is Hacash?

A fully designed, completely fair, open and shared standard system for the issuance and circulation of cryptocurrency for modern financial transaction settlement, business and personal payment will jointly promote mankind to enter the era of open finance in this century, and help complete the transformation of human currency to cryptocurrency.

Hacash believes that although Bitcoin is revolutionary, it is not perfect, especially its "Monetary Nature" aspect has a very large shortcomings. Hacash's mission is not to subvert and replace Bitcoin technically, but to learn from Bitcoin's "blockchain" and "computing power issuance currency" technology, using the "Austrian Monetary Economics Theory" as the guiding ideology, focusing on expansion , Improve and complete the system's "Monetary Nature" indicators, including BTC to form a complete currency system, and combined with the channel chain settlement network, to promote the large-scale circulation and real-time settlement of encrypted currencies in real personal and commercial payments.

Hacash's "Monetary Nature" is reflected in: 1. The most fair and market-oriented currency issuance mechanism; 2. Three different energy levels and heterogeneous commodity currencies: Diamond, BTC(transferred), HAC; 3. Channel chain settlement Real-time settlement of large-scale payments through the network; 4. Rich and risk-free conditional payment agreements and multi-party signing contracts to adapt to modern commercial payment circulation; 5. Optional features such as privacy protection, anti-calculation power attacks, and flexible third-party financial services.

If Bitcoin is compared to the original and revolutionary C language in the field of programming languages, then Hacash's mission is to become C++.

A truly open and shared operating mode

There is no so-called "official" that controls most of the benefits and decision-making power. It is truly decentralized, and all codes and algorithms (including nodes, wallets, and browsers) are all open source. The development of the project relies on the free dedication of early development contributors and the support of the consensus community. Everyone is a contributor and a beneficiary at the same time.

The fairest currency issuance algorithm

There is no founder reward, no official holding, no node distribution, no pre-mining, no private placement, no foundation. Everything starts fair mining from scratch. It took 6 years to increase the reward per block from 1 to 8, and then it took 60 years to decrease to 1, and finally fixed at one currency per block. 22 million coins will be mined in the first 66 years, the total coins is unlimited.

All types of transaction payment and asset change agreements

The transaction structure signed by multiple parties, combined with rich standardized agreements such as condition checking, status confirmation, aggregate payment, transaction transactionalization, etc., meets most of the payment needs of modern finance, enterprises and individuals. Simple and intuitive without any potential loopholes.

Infinitely scalable large-scale real-time settlement network

Decentralization, balance of receipts and payments, fast reconciliation, real-time account arrival, arbitration protection, and dynamically scalable decentralized channel chain settlement network, which can increase transaction volume on demand, and theoretically has no upper limit, so it can fully cope with modern times The needs of business development.

Equity level control and multi-signature account system

Multi-signature accounts solve the security problems of lost and stolen secret keys and the need for simple co-trust of funds. There is also an account system that can meet the multi-level equity investment structure of modern enterprises (supporting the difference between beneficial rights and voting rights, and avoiding extreme capital loss).

On-demand multiple privacy protection without efficiency loss

Generally, privacy-focused currencies either greatly sacrifice transaction efficiency, or need to be kept online insecure, or the operations are complicated and inconvenient to use, or both. Hacash provides multiple privacy protection functions such as payment mixing, pre-deferred payment, encrypted settlement network, etc., which can be customized on demand without losing payment efficiency and ease of use.

Block diamond and channel interest

Block diamonds are a heterogeneous currency, which can dynamically adjust the supply according to economic heat. The total limit is 17 million, indivisible, each has a unique six-letter literal logo, with extremely high collection value. In addition to fee income, the payment channel also locks in interest to encourage the popularization of settlement networks.

History witnesses anti-51% attack

51% attacks are one of the biggest risks that hinder the large-scale use of cryptocurrencies. Hacash invented the historical witness algorithm, allowing computing power competition to determine future blocks, and currency mortgages to determine historical blocks, thereby avoiding the possibility of 51% attacks in fact (you need to master 51% computing power and 51% generation Currency to launch an attack).

Third-party services such as commission offset and transaction custody

Hacash fully considers the needs of mature commercial operations in the design of the underlying protocol, and supports multi-role participation and transaction customization such as transaction parties, payees, custodians, witnesses, matching parties, data services, security services, and audit services. Possibility to meet the needs of modern commercial payment services to the greatest extent.

Understand Hacash

What is Hacash? By Trevor

[YouTube]April 24, 2022 · 8 min look

What is Hacash? Money, Payment and Store of Value

[YouTube]April 24, 2022 · 8 min look

What is HACD (Hacash Diamond Explained in Two Minutes) ?

[YouTube]April 24, 2022 · 8 min look

What is Hacash? by KenYou

[Medium]Sep 14, 2020 · 9 min read

Hacash : An Open source Encryption Project with “Monetary” as its Core Target

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