Hydra

Hydra

HYDRA
$0.411099555%-8.69

Key Metrics

Price$0.411099555
Real Volume (24H)$126,225.79
Marketcap$8,202,691.63
Fully Diluted ValuationN/A
ATH$51.99
ATH Date4/4/2021, 1:52:07 AM
ATL$1.39
ATL Date2/2/2021, 6:25:22 PM
Circulating Supply15M
Total SupplyN/A
WebsiteN/A
WhitepaperN/A
Popularity Rank1395
Chart
What is Hydra?

Hydra (HYDRA) is a permissionless, open-sourced proof-of-stake (POS) blockchain that is seeking to revolutionize the transactional economy with its unique features. The blockchain aims to implement critical economic features while using proven technology for data transmission. The network is built on top of open-source projects such as Ethereum, BlackCoin’s PoV v3, QTUM, and Bitcoin.

One of the key problems that Hydra seeks to solve is the issue of total supply, which has been overly abused in the blockchain industry. While it is commonly used as a marketing component, total supply is only one of the four critical components that Hydra considers. The other three components are node economy degradation over time, rate of supply change, and transactional economy efficiency. Hydra believes that total supply is the direct representation of the actual usage of the chain.

Hydra has a unique burning mechanism on the generated transactional economy that helps fix transaction fees. As per the platform’s design, the market determines the total supply as an asset base. The network stimulates community growth and infrastructure, besides protecting against price degradation. This is given its ability to convert transaction gas into a permanent supply cut. This solves the problem of how and when to switch a blockchain from an inflation state to a deflation state without high risk.

One of the most important features of the platform is the POS consensus mechanism. It allows each user to stake without any minimum amount of coins’ requirement. The average output offered is between 75 to 85 transactions per second (TPS), while the elastic burst scalability is 540 TPS. One-click installers are offered to run a node on an average household computer, making it easy for anyone to join the network. The platform supports Ethereum virtual machine to provide complete compatibility and easy migration of Ethereum Dapps and Ethereum smart contracts.

The transaction fee is burned completely, and a 50 percent royalty is levied on the transaction for smart contract creators. Fixed coin and token transaction fees are USD 0.20 and 0.50, respectively. HYDRA is the ecosystem’s native digital coin. The coins would be used to carry out transactional activity on-chain and staking. The Stakers receive HYDRA tokens to help secure the network against attacks.

The co-founders of the platform are Nikola Alexandrov and Hristo Tenchev, who are also the co-founders of LockTrip.com (a blockchain travel project) and Bitcoin. Nikola has seven years of high-frequency algorithmic trading experience on high liquidity global markets. Others in the team include Florian Pfieffer, Nevena Petrova, Ivan Ivanov, Todor Yalamov, Rosen Krumov, etc. The platform’s cold launch occurred between October 2020 and December 2020. The token was airdropped to the community between March 2021 and February 2022.

In conclusion, Hydra (HYDRA) is a promising blockchain platform that seeks to fix the problems that Blockchain Economy 2.0 faces. It is built on top of proven technology and offers a unique burning mechanism that fixes transaction fees. The platform is easy to use, and anyone can join the network with one-click installers. With its native digital coin HYDRA, the platform is set to revolutionize the transactional economy.

Disclaimer

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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