Press release. The blockchain revolution has attracted the attention of millions of people in the past decade. The emergence of cryptocurrencies such as Bitcoin redefines the concept of currency, while the smart contract network extends the application of blockchain to different fields.
Although the encryption adoption rate continues to grow, the underlying technology has the responsibility to adapt to the new wave of users. Ethereum is still the leading smart contract network, but its problems are well documented. Ethereum’s scalability issues and high gas costs make it difficult for developers and new projects to develop quickly.
The quirky nature of Ethereum’s code also means that crypto enthusiasts with little technical knowledge find it challenging to build decentralized applications (dApps). However, several new blockchain protocols have emerged in recent years to provide alternatives, and it turns out that Hathor is a popular choice between developers and end users.
An innovative blockchain project
Hasol It is a protocol based on proof of work that can deploy DAG and blockchain data structures in an interoperable environment. The project was initiated by a group of highly skilled developers in 2018, and its mainnet was launched in January 2020.
Hathor is one of the few blockchain protocols based on a large amount of scientific and academic research. His research paper was written by CTO Marcelo Brogliato and published as part of his doctoral thesis.
Hathor describes itself as the “WordPress of blockchain” and provides a simplified blockchain network in which everyone can build solutions. Its one-stop solution means that developers can build tokens and decentralized applications without learning a specific programming language or framework (such as Solidity, Substrate, and Rust).
Developers can also create smart contracts in their network through open APIs in multiple programming languages and familiar coding tools. Hathor also provides a developer-friendly headless wallet that can be used for complex applications.
Hathor provides end users with fewer barriers to entry, and anyone can use its mobile or desktop wallet to mint a custom token in a matter of minutes. All that needs to be done is to lock 1 HTR token for every 100 custom token units created.
Due to its application in the fields of digital art, sports and entertainment, irreplaceable tokens have become a growing trend in the crypto world. Users do not need any technical knowledge to create NFT in Hathor desktop wallet. NFTs minting can be created with only 0.02 HTRs, and users can transfer them within the Hathor blockchain without additional transaction fees.
Consolidated mining concept
Hathor is one of the few blockchain protocols that uses the concept of merged mining. Consolidated mining can mine more than one cryptocurrency without the need for additional proof of work.
Proof of work is an energy-consuming algorithm, but it provides obvious benefits in terms of security and decentralization. Consolidated mining enables miners to increase investment at a lower cost because they do not have to purchase additional hardware to mine additional cryptocurrencies.
Miners can mine Hathor token HTR on the two most popular mining pools on the Bitcoin network, F2Pool and Poolin. In addition, the current HTR mining rewards will be halved from January 5, 2022, from 32 tokens per block to 16 tokens.
Key collaborations and use cases
Since the launch of the mainnet in 2020, Hathor has experienced mass adoption and has been deployed by multiple projects. These include the NFT platform 9Block built by Brazilian influencers Felipe Neto, AfferoFlow, Kick-Off Music and Databoi.
Dropull is the NFT platform for Cidade Alta in-game items. Cidade Alta is one of the largest game servers in Latin America with 120,000 active users and is also hosted on Hathor. In addition, the blockchain protocol also launched Hathor Green, which aims to incentivize the miners within the protocol to use green energy.
In addition, the blockchain protocol has agreed Strategic partnership Launched a debit card in its ecosystem with Simplex. Hathor also integrates with the popular hardware wallet Ledger, which users can use to store their tokens.
this Hasol The team continues to work on new upgrades and partnerships to promote the development of its ecosystem and HRT tokens. An NFT project is currently establishing a dedicated NFT market on Hathor, and the decentralized exchange HathorSwap is expected to be launched in the next few weeks.
Hathor has great potential, and its direct approach to blockchain applications puts it in the right place to become the leading cryptocurrency stakeholder in the future.
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