History of cryptocurrency development and the crypto legitimacy of Hacash
Hacash's two native PoW tokens (HAC, HACD), as well as various technologies, designs, and mechanisms that are compatible with BTC, inherited through one-way transfers, are guided by the Austrian School of sound money theory and follow the monetary ideas and technical thinking of the Cipherpunk forebears.
In summary, HAC, which aims at crypto sound money with stable purchasing power, is the perfect successor to Dai Wei's B-money in 1998 and Nick Szabo's Bit Gold; HACD, the world's first PoW NFT, was the full implementation of Crypto Trading Cards described by Hal Finney in 1993 and Bit Gold by Nick Szabo in 1998.
Through a brief review of the history of cryptocurrencies, we have a preliminary understanding of what Hacash has inherited and optimized:
The first electronic currency prototype
Failed cause: centralized settlement
Digital cash collection card combined with crypto art, history's first PoW mechanism NFT
Failed cause: Just stay at the ideas
This foreshadowed Bitcoin's PoW mechanism
Failed cause: PoW cannot be reused and circulated
PoW value can be stored and circulated
Failed cause: Fixed mining difficulty, inflation can not be solved
The first cryptocurrency to pursue a stable currency
Failed cause: Lack of supply and demand adjustment mechanism on the chain
History The first cryptocurrency to implement a code prototype
Failed cause: Rely on the central server to prevent double-spend
The first successful cryptocurrency
Reason for success: Use the PoW longest chain principle to achieve decentralization and avoid double-spend
Potential reasons for failure: Insufficient sustainability of economic models, leading to ledger security issues
The first Turing-complete cryptocurrency
Reason for success: Added programmability to cryptocurrency finance and supported ICOs
Potential reasons for failure: unstable and centralized monetary policy, abandonment of PoW mechanism, a layer of smart contract security issues and 'state explosion' leading to ledger centralization problems
The first cryptocurrency to maintain decentralization while pursuing stable purchasing power
The perfection of the PoW cryptocurrency paradigm, the three PoW coins, inherited and compatible with Bitcoin, will implement payment settlement and store of value with HAC and HACD, respectively, the first PoW NFT in history.