What is HitChain?
HitChain is a decentralized platform designed by developers, for developers. It aims to value the hard work of developers with a transparent credit system using blockchain technology. This platform offers developers the opportunity to automatically redeem the value of their innovation and creativity with currency value and currency right. As a self-governed system, HitChain ensures that every member has the right to participate in the community's decisions.
HitChain is a decentralized ecosystem that emphasizes autonomy, democracy, transparency, and fairness without any third-party or centralized supervision. The HIT token is an Ethereum-based ERC-20 token that can be traded for HitChain Token (HIT Token) at a one-to-one ratio once HitChain is operational.
The concept of HitChain originated when it was observed that many hardworking developers were not earning from their contributions. Open-source is revolutionizing the software industry, and more and more companies such as IBM and Google are adopting this field. However, developers are still at the farthest end of the value chain in the tech industry.
According to the whitepaper of HitChain, open-source communities provide developers with tools and space for their work. However, they do not represent the interests of the developers as they are profit-driven enterprises. This is where HitChain comes into the picture, offering a more dynamic, democratic, and autonomous open-source ecosystem. The term HitChain is derived from Git and blockchain. Git is the open-source distributed revision control system.
The architecture of HitChain consists of four core components:
- HitChain Infrastructure - The HitChain Community Infrastructure provides essential services like Hit code management Protocol, distributed code hosting services, and authentication services.
- HitChain Cryptocurrency Infrastructure - The HitChain Currency Infrastructure offers technical support based on blockchain technology like ledgers, isolation testimonials, consensus mechanisms, and smart contracts. Smart contracts are just like regular contracts, but instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.
- HitChain Applications - Comprehensive applications are provided by HitChain that offer code development, deployment, and transaction.
- HitChain Development and Trading Community - The HitChain Development Community is for software development based on open-source developers. On the other hand, the HitChain Trading Community comprises code developers and code consumers for software transactions.
The team set up HitChain in 2018, with Jiang Li serving as the Chairman and Director of HitChain. He has great expertise in blockchain, cloud computing, and open-source ecology, and is responsible for the overall mechanism of HitChain. KheeJoo Tan is the Director of HitChain, having served as a technology executive in numerous transnational software corporations. Leon Li is the Director of the HitChain Foundation, leading the open-source system in the HitChain team.
In conclusion, HitChain is a decentralized platform that offers a dynamic, democratic, and autonomous open-source ecosystem to developers. It aims to value developers' works with a transparent credit system using blockchain technology, enabling developers to automatically redeem the value of their innovation and creativity with currency value and currency right. HitChain provides a new way for developers to earn from their hard work and become an integral part of the software industry.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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