(…)
Do you have any devs currently working on this project or are you actively looking for devs?
No, currently, there are no devs actively working on this project.
I'd love to, but I neither have the money, nor the prospects of generating money with this project. I could probably form a company and try to find corporate investors, but I don't really want to go corporate. There are similar businesses out there I'd have to compete with and I prefer the "linux approach" anyway.
Questions from newbie to newbie, since this project idea seems to want to avoid the outcomes of most altcoins:
1. Less important: what existing crypto problems does this project want to solve?
2. More important: what existing crypto needs does it have?
I know the price tethering seems to be the mainstay to maintain if not steer its price but this seems to then artificially keep the value of the coin/token.
1.: I think there are multiple answers to this question, some of which still need to be found. My general answer would be this: while I like trading from time to time, it overall slows down mass adoption for two reasons:
The price of a coin changes, sometimes dramatically. Average Joe and Jane will not buy into something, that is so volatile, especially when they plan on using it for something else than speculation. I firmly believe that price stability is one of the key features a cryptocurrency needs to be mass adopted.
At the same time, I think it would be a waste to invent such a great thing as blockchain and have it just be a value storage tool. However, blockchains dedicated to one or a few special purposes have the problem, that their tokens are effectively tethered to their usefulness and while that sounds ok at first glance, this creates a whole bunch of problems.
Just imagine, how tiring it would be, if you would need different kinds of money for bread, electronic devices, gas (which already is volatile on its own), rent and so on, and worse than that, all these different currencies change their value all the time.
Bitcoin is the least volatile cryptocurrency we have, apart from Tether, obviously, and it is the most broadly used.
HUB: tries to create a system, in which people can use bitcoin to do all that fancy stuff, they would otherwise need a special token for.
The second reason is, that getting and using alternative currencies is a pain in the ass right now. First, you have to download a wallet, which needs to sync for ages. Then, you need to buy bitcoin, because you can't buy most currencies directly. Then you need to find out where to get them. And if, by then, you are not already fed up enough, every one of these coins has their own special rules you have to learn, to be able to actually use them.
In the HUB: network, the general rules don't change and you only need one client.
As a side effect, HUB: prevents "blockchain bloat", because it consists of many small chains, instead of one big one. Not only does that make syncing way faster (you just sync the parts you need), but you also don't need gigabytes of storage.
2.: I'm not sure I fully understand that question. It needs everything other blockchains need as well: It needs people who secure the circles. Custodians will be the equivalent to miners or stakers. It needs a client, it needs devs who are working on it… That kind of stuff. Or did I misunderstand it?
About the last part: the tethering is not artificial, because you will get back the exact amount of bitcoin the token holds, minus regular bitcoin transaction fees. Think of tokens as an envelope, containing the information on how to access these bitcoins. Now, creating a system in which this can be securely achieved without a too small number of regulating entities is HUB:s main obstacle.
This altcoin or what?
I dont see how much total supply. Need more information. thanks
No, this is not an Altcoin.
There is no "total supply", because tokens are created when needed. I think this thread contains sufficient information to answer questions about what this project is supposed to be (and what it isn't).
