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August 30, 2020, 12:30:00 AM |
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1.What is HADES?
HADES is a next generation confidential cryptocurrency based on an elegant and innovative Mimblewimble protocol.
Hades has technical advantages such as security, anonymity, ASIC resistance, and strong scalability. Hades has no ICO and no pre-mining. The team only extracts 5% of the mining rewards as development and promotion expenses. Hades is the third project developed based on the MimbleWimble protocol after Grin and Beam, and successfully solved the "soft underbelly" of Grin and Beam. Grin is a community-driven project. It used to be famous for a while, but because the total amount is unlimited, and the annual issuance is unlimited, the currency price is low and the community's enthusiasm is finally extinguished. Although the total amount of Beam is constant, it is managed by a centralized company, which violates the spirit of the blockchain community and has been tepid. Based on the lessons learned from the two pioneers, Hades adopted a constant total design and adopted a pure community-driven development model, which is in line with the decentralized spirit of the blockchain.
2.Technical characteristics of HADES
Hades use POW consensus, Equihash algorithm, about 60 seconds to generate new blocks, each block contains about 1000 transactions, the block size is about 1 MB. The Equihash algorithm was jointly invented by Alex Biryukov and Dmitry Khovratovich. Its theoretical basis is a well-known computational science and cryptographic problem-the generalized birthday paradox problem. The Equihash algorithm was proposed in 2016 and relies heavily on memory usage to achieve ASIC resistance. The original intention was to generate an algorithm that runs more efficiently on the GPU, hoping to help decentralize the mining capabilities of the algorithm. Hades also has the following technical features:
(1)Scalability
Mimblewimble's own technical features help to avoid excessive calculations, so the Hades blockchain is several orders of magnitude smaller than other blockchains.
(2) Open source, pure community driven
Hades is an open source project, and the source code is available on GitHub. Hades is a purely community-driven project without pre-mining, which is in line with the spirit of the blockchain.
(3) Decentralization
Hades is a decentralized peer-to-peer exchange network and medium. There is no centralized management agency or regulatory agency to ensure the security and privacy of the project.
(4) Anti-ASIC
Hades has the characteristics of anti-ASIC, which can prevent the monopoly of computing power and is more fair. After each hard fork, the algorithm will be changed to ensure decentralization.
(5) Privacy and Anonymity
Hades enforces privacy processing for all operations, truly can not be traced and analyzed, and has extremely high security and privacy. All transactions are private. The information of the transaction participants will not be stored on the chain. Through Hades's private transaction mechanism, various assets such as real estate tokens, corporate bonds and new currencies can also be created and traded.
(6) Sustainability
Hades is an open source blockchain project built from scratch and governed by the community. 5% of the mining rewards will enter the development pool to encourage the development and promotion of Hades.
HDS technical profile:
No pre-mining
No ICO
Code: HDS
Coin supply: 100,000,000
Block time: 60 seconds
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