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What Is Hydrogen Cryptocurrency?

According to research conducted by Trend Micro, stolen line items of Personally Identifiable Information (PII) are readily available for purchase within the Deep Web for as little as $1. Not only that, other sensitive materials such as passport scans and bank login credentials are also available on the black market, making the distribution of stolen data increasingly fragmented and untraceable. 

Hydro is an all-new blockchain that enables new and existing private systems to seamlessly integrate and make use of the immutable and transparent dynamics of a public blockchain to enhance functional aspects of their daily work by streamlining:

  • Application and document security
  • Identity management
  • Daily transactions

The Hydro public blockchain enhances security through the use of unique public authentication modules and deploys a technology called “Raindrop” – a service that facilitates transactions via smart contracts and validates private system access publicly. Not only that, it can be used in conjunction with existing private authentication methods.

Moreover, Raindrop provides additional security to users for sensitive financial data so that private information can be insulated from third-party actors.

Lastly, it is worth mentioning that the initial implementation of Hydro Raindrop will be done within the Hydrogen API Platform. The native APIs are available for enterprises and developers to build, test, and deploy sophisticated financial technologies and products.

Overview of the system

  • Hydro leverages its unique infrastructure by developing products that can offer tangible benefits to financial service applications.
  • The platform has been implemented on the Ethereum network.
  • The Hydro blockchain differs from other blockchain initiatives in that it can exist independently and can layer around new or existing systems without requiring a systemic change.
  • This service allows authorized institutions and organizations to plug into its APIs so that they can automatically access the native blockchain.
  • The user interface is highly visually-oriented and can be utilized by novice as well as experienced blockchain customers.

Key Features

Hydro’s key offering to its customers is its blockchain-based authentication service, called “Raindrop.” It has been built atop the Hydro public ledger and offers customers an immutable, globally viewable layer of security that verifies access requests and ensures that they originate from an authorized source.

Primary offerings of the Hydrogen ecosystem

Hydro makes use of private authentication protocols such as OAuth 2.0 to provide a high level of robustness and overall usability. Additionally, the platform incorporates blockchain mechanics as a component of its authentication procedure. This adds an additional layer of security and minimizes the risk of system breaches and data compromises.

Overview of the architecture employed by the platform

With the Raindrop verification protocol, Hydro is able to define a transaction which a user must then execute from a known wallet. The only way a user can conduct a valid transaction is by accessing the wallet in question. When using Raindrop, both the system and the accessor can monitor authorization attempts on an immutable public ledger.

How it Works

The core Hydro authentication process involves 4 primary parties which include:

(i) Accessor: this is the agent that attempts to access the system or any DApp making use of Hydrogen APIs within its core digital infrastructure.

(ii) System: the gateway used by the accessor to utilize the native Hydro API.

(iii) Hydro: the central module that is utilized by the System to communicate and interface with the blockchain.

(iv) Blockchain: the distributed public ledger that processes and facilitates all internal HYDRO transactions. It contains all of the internal smart contracts.

The primary initialization begins with the registration process wherein users are required to obtain pertinent credentials which will enable the system to communicate with the blockchain via the Hydro protocol. The system brings an Accessor on board who registers a public address and then passes the registered address on to Hydro. That registration only needs to occur once.

Initialization process employed by Hydrogen

After the Initialization is completed, the central authentication process can commence. This is done by the Accessor, who is required to request Raindrop details from the System. The platform then generates a new Raindrop transaction, which stores certain details immutably on the blockchain, and returns the full details to the Accessor via the System.

Validation procedure followed by the platform

The last step in the process is the Validation. During this step, the Accessor officially requests access to the System via the predefined established mechanism. The Hydro platform automatically interfaces with preexisting native smart contracts, checks the validity of all transactions, and then responds with a true/false designation accordingly.

About the team

Michael Kane is the co-founder and CEO of Hydrogen. According to his online bio, Michael has been the recipient of numerous awards including:

  • Winner, Tech Pioneer — 2x Best of Show Finovate
  • Winner, UK Great Tech Award

Mike has served as an associate at Bridgewater Assc. and has also overseen the development of other projects related to crypto-assets and the blockchain.

Sid Sharma is the project’s Head of Continuous Innovation. He holds a master’s degree in computer science from Columbia University and previously worked at S&P Capital IQ as well as McKinsey & Co.

Lastly, Matthew Kane is a co-founder of Hydrogen and is viewed within the cryptoverse as a fintech pioneer. He has twice received the UK Great Tech Award and is an expert in crypto assets. Matt is one of the first individuals to have created a crypto investing application for widespread public use.

Token Performance Details

Introduced into the crypto market just under 10 days ago, HYDRO is currently experiencing a huge surge in demand.

HYDRO token lifetime performance chart (courtesy of CoinMarketCap)

While initially trading at a base rate of $0.001 on May 3, the token is currently worth $0.005 (as of May 13).

However, it should be noted that due to the newness of this token, current market performance should not be treated as an indicator of future market value.

Final Thoughts

Hydro promises to enable private financial systems to seamlessly leverage the power of public blockchains as well as utilize niche technologies such as smart contracts to create secure, transparent, and low-cost financial products globally.

If you would like to start investing in Hydrogen, HYDRO trading pairs are currently available on Mercatox, CoinEX, EtherDelta and Token Store.

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Blockchain Guides

What Is the Tari Protocol?

There can never be enough competition in the world of blockchain technology. The people responsible for creating the Tari protocol certainly seem to agree. This new solution will enhance the digital asset experience by introducing increased convenience, security, and liquidity. It is a tall order, although the project has some significant people backing it.

The Purpose of the Tari Protocol

It is always interesting to see how existing cryptocurrency and eBitsdevelopers are trying to bring major changes to these industries. In the case of Tari, the new digital asset experience protocol aims to bring positive changes in the coming months and years. This particular venture was created by a team of veterans, including the lead maintainer of Monero, the CEO of a music merchandising company, and the co-founder of Ticketfly.

The project is an open source blockchain protocol designed specifically for digital assets. Tari is not just for developers or corporations, as it targets consumers as well. Given the increasing interest in digital assets, there is a growing need for more convenient solutions when it comes to managing these assets. Tari wants to make that happen, as the project is mainly interested in eBitsoutside the realm of cryptocurrency.

More specifically, the current focus ranges from event tickets to in-game items and loyalty points. Although blockchain-based solutions exist in this regard already, there are still restrictions to contend with. Corporations and service providers currently struggle to control assets after distribution, mainly because there is no adequate infrastructure in place to make this process easier.

The negative side of that approach is that it prevents companies and consumers from reselling or transferring digital assets. It leaves a potential revenue stream completely untapped and causes unnecessary friction. Tari is designed to change this by letting businesses and companies manage and transfer digital assets in a flexible manner. It should also help reduce the number of fraudulent digital assets, which is extremely important where event tickets are concerned, for example.

Tari’s co-founder, Riccardo Spagni, comments:

I’m excited to draw from my experience to build something on top of Monero, and to create a modern digital assets-focused protocol that leverages the Rust programming language. We have the resources to expand Monero’s world-class developer community, and I look forward to launching and stewarding a next-generation protocol that is truly useful.

It is evident that bringing blockchain technology to major industries will be challenging. It seems to be an ideal solution for digital asset management, but most existing projects aren’t suited for this specific purpose as of right now. Whether or not Tari can make a meaningful impact in this area remains to be determined. It is good to see more competition in this regard, especially when it is an open source platform rather than a proprietary implementation.

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Blockchain Guides

What Is Bitcoin Incognito Cryptocurrency?

For those people who can’t get enough Bitcoins in their life, a new option is emerging. Known as Bitcoin Incognito, it is another attempt at fixing some of the glaring issues which Bitcoin presents. Whether or not this new fork will succeed is unclear, but more competition isn’t necessarily a bad thing.

Anonymity and Bitcoin in one Package

One of the biggest misconceptions people have about Bitcoin is that it is anonymous. That is anything but the case, though, as Bitcoin has neither anonymity nor privacy features. The currency allows one to be pseudonymous – similar to an online nickname – but not anonymous. Some projects are trying to address this lack of anonymity through various means.

In the case of Bitcoin Incognito, there isn’t much information to go by at this time, as the project was only announced Friday afternoon. From what little information has been made public, it’s evident Bitcoin Incognito will primarily focus on proof-of-stake and masternode solutions.

Anyone who has paid close attention to the various altcoins on the market will have noticed that masternodes are quickly becoming more popular. It is a system that many currencies are embracing, although it is not something one would ever see as being part of Bitcoin itself. Bitcoin Incognito thinks it is a good time to take the plunge in this regard, although it remains to be seen how this will pan out when combined with proof-of-stake capabilities.

Additionally, the new project will make use of the eBitsprotocol to provide anonymity features. It will convert publicly visible BTCi into fully anonymous zBTCi. Sending the anonymous version will appear as normal BTCi to the recipient, but there will be no traceable route indicating where the money came from exactly. It is somewhat similar to how other currencies using the Zerocoin protocol operate. Furthermore, it seems Bitcoin Incognito will make use of a feature known as SwiftTX. This is not a unique feature, as it is found in a fair few altcoins. Even so, it will allow Bitcoin Incognito’s users to send transactions faster and cheaper compared to Bitcoin and most altcoins.

It is evident that the project has some interesting ideas, although it remains to be seen whether this particular altcoin will gain any major traction. Various newer versions of Bitcoin have popped up in recent months, yet none have made any lasting impact other than Bitcoin Cash. Changing this situation will not be all that easy, but that doesn’t mean launching new projects is no longer worth it.

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Blockchain Guides

What Is FuzeX Cryptocurrency?

Even though decentralized currencies such as Bitcoin and Ethereum have opened the floodgates to innovative solutions within various sectors in recent years, the process of putting one’s crypto wealth to everyday use is still quite cumbersome and inconvenient.

FuzeX is an all-new blockchain service that seeks to deploy alt-currencies for everyday purposes. The core offering of the company is an innovative card which basically serves as a crypto-enabled e-card.

The FuzeX card is identical in size and thickness to a standard credit or debit card, and consists of these core components:

  • An EMV chip
  • Dynamic magnetic strip
  • E-Paper Display (EPD)
  • Three input/option buttons
  • Rechargeable battery and charging terminal

The FuzeX card allows users to store, manage and use up to 30 credit, debit and cryptocurrency accounts via a single platform. This helps make financial accounting seamless and allows users to keep accurate tabs on their daily spending habits.

Overview of the system

  • The FuzeX card comes prebuilt with buttons to power on/off, enter pin codes, make selections, and authorize payments.
  • Through the use of a native E-Paper Display (EPD) module, customers are able to view their balances across various accounts as well as scan QR codes to procure rewards and blockchain addresses.
  • The platform has been designed to facilitate hassle-free P2P transfers between crypto wallets.
  • Thanks to the Bluetooth connection module that links the FuzeX card and wallet, the platform is able to maintain a high level of security and integrity.
  • Customers are also provided with the option to securely lock their FuzeX cards when their wireless connections are disrupted for any reason, thereby allowing for an additional layer of security.

Key Features

As mentioned earlier, the FuzeX ecosystem allows users to connect their accounts (credit, debit, rewards, and cryptocurrency) via the native FuzeX wallet app. Once all of the preliminary synchronizations have been completed, customers are able to make payments using their FuzeX cards without having to go through the trouble of pulling out their smartphones or wallets.

Layered representation of the FuzeX e-card

Additionally, the FuzeX card, when paired with the native wallet, functions as an independent hard wallet for one’s private keysThese fragmented private keys are encrypted and stored within the ecosystem and can be accessed by users only after they have unlocked their FuzeX card and wallet with a secret pin code and an account password.

The wallet allows users to store, spend, receive, and transfer tokens, and provides them with features such as validation of customer registrations (including KYC), and management of crypto portfolios by allowing customers to send, receive, and exchange alt-tokens on a single platform.

Visual depiction of the FuzeX exchange

 

Lastly, the FuzeX exchange acts as the backend protocol that helps facilitate cryptocurrency adoption and allows users as well as merchants to switch between alt and fiat assets (USD, EUR, JPY, and any other local currencies) seamlessly.

How it works

The user first has to download the FuzeX wallet app and create an account on the FuzeX exchange. They then have to transfer the desired amount of crypto from an external wallet to the native FuzeX wallet.

Overview of how transactions work within the FuzeX ecosystem

To make purchases, customers have to select their cryptocurrency of choice from the FuzeX card using the built-in buttons, and the user is provided with real-time exchange rates.

If they are satisfied with the rate provided, he or she swipes their card on the merchant’s POS device. The merchant subsequently receives an authorization for the payment, and the purchase is completed. The buyer also receives an automated purchase summary on his or her FuzeX wallet app.

FuzeX exchange transaction flow

However, according to the whitepaper, a user “must approve transactions on the FuzeX card when the cumulative spending balance surpasses $300 USD (limit adjustable) to finalize the transfer of cryptocurrency payment from his/her user account to the FuzeX exchange.”

About the team

Andrew Bae is the CEO of this project. According to his LinkedIn profile, Andrew specializes in product management and marketing, and has previously been associated with established ventures such as:

  • BrilliantTS (President and CEO)
  • CrucialTec (Vice President and Co-Founder)

Michael Park is the Chief Technical Officer of FuzeX. He describes himself as a crypto enthusiast whose core interest lies in “merging today’s burgeoning IoT sector with the blockchain domain”. Michael is an alumnus of Kwangwoon University and previously served as the Vice President of the IoT/B2B solution team at Samsung for nearly two decades.

Lastly, Daniel Kim is the CBO of this venture. He possesses a BSc degree in Computer Science from Macquarie University and has previously worked for companies such as:

  • Kona Co. Ltd (Global Sales Director)
  • CrucialTec (Director of Sales)

Token Performance Details

FXT tokens have been on the market for a little more than two weeks, and have already experienced some minor price swings.

FXT token lifetime performance chart (courtesy of Coinmarketcap)

As of May 26, FuzeX possesses a market cap of US$26,044,254. In all, a total of 1,087,156,610 FXT have been created, and out of them, 728,910,229 are currently in circulation.

Final Thoughts

With widespread crypto adoption slowly entering the mainstream, FuzeX comes at the perfect time to help everyday people deploy alt-currencies for regular, menial purposes, such as buying groceries, paying for gas, or getting a cup of coffee.

If you would like to start investing in this platform, FXT trading pairs are currently being traded on HitBTC, COSS, IDEX, Coinbe, LiveCoin, and CobinHood.

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