HOPR Price Chart Update [HOPR]

What Is HOPR (HOPR)?

HOPR is a blockchain-based protocol that aims to address global data and privacy issues. With an official initial coin offering ( ICO ) in 2021, HOPR aims to decentralize private data exchanges. According to the protocol's official website, HOPR is a next-generation privacy solution that allows both private and enterprise users to control access to their online and personal data.

As a decentralized autonomous organization ( DAO ), HOPR is governed by the HOPR community and supporters, rather than a centralized entity. The protocol introduces community-enabled governance (DecenGov), giving users control. HOPR aims to achieve universal data privacy through the use of blockchain technology and distributed ledgers.

Who Are the Founders of HOPR?

Sebastian Bürgel is the founder of HOPR and president of the HOPR Board. He graduated with a degree in information technologies and electrical engineering from ETH Zurich in 2008 and completed a Ph.D. program in biomedical engineering in 2010. In 2016, Bürgel co-founded SONECT, an ATM as-a-service provider company, and served as the chief technology officer until 2017. Alongside working for SONECT, Sebastien Bürgel was also CTO at Validity Labs, providing education-related solutions via blockchain technology. In 2020, Bürgel left Validity Labs to start his latest blockchain project — HOPR.

Another fundamental member of the HOPR Board of Directors is Dr. Catrina Luchsinger Gaehwiler. She graduated from a law program at the University of Zurich and has been a member of several boards throughout her career. Dr. Gaehwiler is currently working as a banking and finance partner at FRORIEP, one of the largest law firms in Switzerland.

What Makes HOPR Unique?

By bringing data privacy to the new era, HOPR utilizes blockchain technology and the HOPR token to give users full control over their data. The HOPR protocol uses "mixnets," or routing protocols, to shuffle data and make it difficult to track. While shuffling data makes it almost untraceable, the different pieces of information are successfully delivered to the user to decide how to use the entire data set.

In addition, HOPR uses cover traffic to enhance data protection. Cover traffic involves sending out empty data packages throughout the mixnet, further challenging data interception and misuse. HOPR is a pioneer in the data privacy space, particularly due to its focus on blockchain technology. The project has already attracted institutional partners like Avado, Elrond, Sedimentum, and Blockarc. HOPR continues to improve the protocol and release updates as the ecosystem grows.

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How Many HOPR (HOPR) Coins Are There in Circulation?

The HOPR protocol has issued a total supply of one billion HOPR tokens. The current circulating supply for the token is 130 million HOPR tokens. According to the official website , the founders set aside 18.5% of the total token supply as rewards for the team and advisors working on the project.

\ Another 25.5% of HOPR tokens were directed towards treasury reserves, while 16.5% were offered to early token buyers. A quarter of the total token supply (25%) was routed towards facilitating cover traffic for the HOPR protocol. Finally, 6% of HOPR tokens were distributed as bounties, and 8.5% of tokens went towards public distribution.

How Is the HOPR Network Secured?

As an Ethereum -based protocol, HOPR is secured by the proof-of-stake ( PoS ) consensus mechanism. The HOPR token is a traditional ERC-20 token. A unique feature of the HOPR protocol is the additional utilization of a proof-of-relay mechanism, which allows every node runner to be incentivized and correctly relay data in exchange for HOPR tokens.

Unlike other popular consensus mechanisms like proof-of-work ( PoW ), the PoS mechanism is more eco-friendly, as it requires node validators to use less computing and electrical power. Not only that, the versatility of the Ethereum blockchain allows for greater scalability and an increased variety in use cases for the blockchain.

Where Can You Buy HOPR (HOPR)?

As an up-and-coming project, HOPR is gaining popularity among crypto traders. The top exchange for trading in HOPR currently is Uniswap V2, which has attracted a DAI/HOPR trading volume of $1,130,542.

Other exchanges offering HOPR include:

• Hoo
• Gate.io
• MXC.COM
• Bilaxy
• 1inch Exchange

Find more information here about buying cryptos.