Hathor Network Removes Financial Barriers To Decentralized Applications
Hathor Network Removes Financial Barriers To Decentralized Applications . With significant improvements and growth, the blockchain industry has reached many significant milestones. Since Bitcoin was born a decade ago, more and more projects have emerged. Hathor is a blockchain protocol that has grown in popularity a lot in the last few months.
What is hathor?
Hathor is a scalable Layer 1 platform that combines DAG (Directed Acryl Graph and Proof-of-Work Blockchain). It’s one of the few blockchain protocols with an academic background and is part of a doctoral thesis by founder Marcelo Brogliato.
The main concept is to create an architecture that implements a chain of interconnected blocks that can solve scalability, decentralization and security problems. As a result, Hathor has built a next-generation architecture that can process high-speed transactions and is scalable for teams and individuals to build decentralized solutions.
Benefits of Hathor
Fast processing speed
With Hathor, these decentralized solutions can be built on a blockchain with the security of Bitcoin and without limits. It’s capable of processing 200 transactions per second, much like payment processing giant PayPal.
Safe, low cost
Hathor can secure its network by implementing a mining system called Merged Mining. Unified mining enables miners to mine two different cryptocurrencies without additional energy and costs.
Currently, Bitcoin miners can mine Hathor and generate additional income without upgrading their mining rigs. Also, since Bitcoin has the most miners, Hathor can quickly maintain a high hash rate, thus ensuring the security of its blockchain network.
Hathor is also an energy efficient blockchain as miners do not use additional energy to mine tokens. In addition, miners are given incentives to demonstrate their use of renewable energy through the Hathor Green Initiative.
The attraction of Hathor is the ability for users to generate their tokens within minutes. Hathor prides itself on being WordPress for Blockchain and has developed a token minting system that doesn’t require any technical knowledge.
All that is required is to lock 1 HTR for every 100 new Token Units. All tokens built on Hathor are implemented on Layer 1, which is built on the protocol itself and coupled to the HTR token. NFTs can also be minted on the Hathor Network for a small fee, and users can create works of art that can be sold on a dedicated marketplace.
The evolution of Hathor
Hathor has worked with blockchain projects including Chainlink and Ledger since its inception. It also partnered with Simplex to issue a crypto debit card in October 2021.
Hathor was used to create a range of decentralized solutions for a range of applications. These include the NFT 9Block and Dropull platforms. Other platforms are AfferoFlow, Databoi, Anubis, EON and WorkAxle.
Hathor also intends to launch a decentralized exchange called HathorSwap which will offer users various features such as staking, yield farming, and liquidity mining. In terms of partnerships, the blockchain protocol has teamed up with Simplex to create a crypto debit card.
Hathor HTR token has been listed on multiple platforms including Kucoin, AscendEX, Coinmetro, SimpleSwap, and more. To learn more about the project, visit the links. The blockchain protocol is also increasingly used in the blockchain industry. For example, Brazilian influencer Felipe Neto started a 9Block NFT project on Hathor. Other projects based on Hathor are EON, WorkAxle, Kick-Off Music, Dropull.
With the native token HTR, users can access various functions of their blockchain. HTR became widespread in 2021 and has many use cases on the Hathor blockchain.
HTR is also listed on the popular Hardware Wallet Ledger and several exchanges including Kucoin, AscendEX, Coinmetro, SimpleSwap and more. To learn more about the project, visit the links.
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