Blockchain technology has proven to be one of the most significant internet breakthroughs in the last decade. Bitcoin has evolved from an afterthought to legal money recognized in nations such as El Salvador.
The use of blockchain technology has grown in scope and breadth, potentially altering the finance industry and introducing novel concepts. Furthermore, blockchain protocols capable of hosting smart contracts have enabled novel ideas such as decentralized finance and NFTs, which have captured the imagination of many in 2021.
Although Ethereum is the largest smart contract network, it has been plagued by high transaction prices and long confirmation times. Many blockchain supporters feel that the best way for blockchain technology to proliferate is through a platform that allows anybody to participate in creating apps easily.
Taking the lead in the next-generation blockchain movement
Hathor Network is a next-generation blockchain that focuses on guaranteeing that anybody, regardless of technical skills, may develop apps. Projects may produce tokens and construct apps in a short period of time. It eliminates the complexities associated with existing blockchains, such as gas costs, token standardization, and improved developer experience.
Developers are given an easy-to-use interface that even non-technical people can use. At the same time, many networks need extensive technical knowledge to use wallets and complete transactions. Hathor has built a user interface that any current internet user can use.
Hathor is built on Directed Acyclic Graph (DAG) and blockchain technology to provide these unique capabilities. DAG allows transactions to be connected and promotes energy efficiency, which keeps transaction costs low.
Merged mining is a novel consensus technique based on Proof-of-Work blockchains that allows more than one cryptocurrency to be mined without consuming additional energy. Miners have an added motivation because they can mine Bitcoin and Hathor without investing in mining equipment. This protects the security of the Hathor network since miners are rewarded with HTR tokens.
Hathor Network also supports the rapidly developing DeFi ecosystem. Projects and individuals may use Hathor’s sophisticated architecture to create unique tokens; all required is to lock 1 HTR for every 100 units of the new token.
NFTs may also be minted for minimal fees on the Hathor Network, and users can produce artwork that can be sold on a specialized marketplace.
Hathor, like all technology, is always evolving
Another important component of a blockchain protocol is the amount of use-cases it supports. Hathor has been used to create a number of decentralized solutions that span several applications. NFT platforms such as 9Block and Dropull are examples of this. AfferoFlow, Databoi, Anubians, EON, and WorkAxle are other available systems.
Hathor also plans to establish a decentralized exchange called HathorSwap, which will provide customers options like staking, yield farming, and liquidity mining. The blockchain protocol has worked with Simplex to develop a crypto debit card in terms of collaboration. The renowned hardware wallet Ledger also supports its native token HTR, and users may access their tokens through the platform.
The utility of Hathor’s token HTR will rise in tandem with its value as more blockchain apps are created on it. Hathor token HTR is available on a number of platforms, including Kucoin, AscendEX, Coinmetro, SimpleSwap, and others. Visit the links to learn more about the project.