Overview

  • Country South Korea
  • CategoryFinance/ Hyper-Connected Coin

Powering hyperconnected blockchain solutions

Project stage

Prototype

Detailed description

HYCON, which stands for Hyperconnected Coin, is the digital asset built on top of a faster and more scalable blockchain developed by the Infinity Project team. Using a DAG (Directed Acyclic Graph) structure, it has the capability to publish several blocks simultaneously with the ability to resolve conflicting transactions and reject double-spends through the SPECTRE consensus algorithm.

For speed and flexibility, HYCON uses the SPECTRE protocol. The advantage of SPECTRE over a typical blockchain is shorter times between blocks and faster transaction confirmations. SPECTRE allows different nodes to publish blocks simultaneously, blocks to be published simultaneously from different nodes, without forking the chain. For miners, SPECTRE eliminates orphaned blocks.Meanwhile, miners don’t have to worry about orphaned blocks.

Speaking of mining, HYCON uses we’ve implemented the Cryptonight proof-of-work algorithm, making it possible to mine with either a GPU or a CPU. However, in the interest of sustainability, we are seeking a more energy-efficient mining algorithm for the future, such as Proof of Space.

Sustainability is important. The vision for HYCON is longterm, with a mining timeline of 50 years. Because of this length, and the high rate of block publication, mining rewards will be relatively low. However, a high volume of transaction fees should make mining an attractive option.

Problem

A survey of the cryptocurrency landscape reveals no shortage of unique and useful platforms that aim to solve specific issues. There are projects promising anonymity, speed, decentralization, easier mining, or scalability, but few of these are good candidates for widespread adoption and everyday use. The individuals and businesses in the marketplace demand a quick, convenient, and secure means of exchange.

When it comes to adoption in the market, even the crypto projects with the best brand recognition are received with caution rather than enthusiasm. None of the current solutions in popular use meet the usability criteria for widespread integration into the larger economy.

It’s easy to see headaches for end-users. With transaction times up to 60 minutes, it’s no wonder supermarkets and coffee shops aren’t jumping on the cryptocurrency bandwagon. End-users also fear the potential for hacks and coding errors. Even tech-minded people are prone to user errors while safeguarding wallets and 30-digit private keys.

Solution

These unsolved issues inspired the strategy for the the Infinity Project and HYCON:

  1. Identify actual market needs for a cryptocurrency
  2. Develop a cryptocurrency that is flexible
  3. Create a user-centric blockchain platform
  4. Develop an ecosystem that promotes sustainable innovation
  5. Investigate methods for a decentralized cryptocurrency exchange

The vision for the Infinity Project is a flexible coin that meets market needs and provides a secure and seamless user-centric experience. A full node running the HYCON software has access to a locally hosted web GUI allowing for wallet operations, transactions, and blockchain exploration. We’re also developing an intuitive wallet and exchange platform GUI to implement a fully decentralized cryptocurrency exchange by using “atomic swaps” to facilitate trustless P2P trading of HYCON and other cryptocurrencies In addition, a means of decentralized trustless exchange is in development.

Features

Faster | Quick transaction confirmation times
Honest transactions can be confirmed or rejected definitively in mere seconds, due to the high volume of blocks published within that time interval.

Scalable | On-chain Scalability
Transactional throughput up to 100Tps on a 1MBit/s connection can be achieved as a starting point of the project.

Frictionless | Latency Tolerance
The DAG structure coupled with the SPECTRE protocol allows for network latency to be essentially removed as a limiting factor on transactional throughput. Blocks that are received out of order can still be ordered based on their implied position in the DAG rather than the time they were received.

Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : HYC
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 60,000,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Infinity ()
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Currency token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :10,000,000,000 HYC
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :1,000,000,000 HYC
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BTC, ETH, LTC,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :China, Singapore, USA,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    Jun 01, 2018

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Contributor (ICO): Private and public pre-sale contributors will have a lock-up of 3 months
          • Team: The Team and Advisor tokens will be locked up for a period of 1 year.
        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      ICO Crowdsale — Ended
      30 Mar 00:00 UTC
      11 May 00:00 UTC
      0.09 USD No 50 USD - 50000 USD Uncapped 5,000 ETH
      Public presale — Ended
      12 Mar 00:00 UTC
      16 Mar 00:00 UTC
      0.09 USD 30% 50 USD - 50000 USD Uncapped 7,000,000 USD
      Private sale — Ended
      Start Soon
      NA No - Uncapped Uncapped
      Korea Pre-ICO — Ended
      25 Sep 00:00 UTC
      NA No - Uncapped Uncapped
      • Team

        • Taewon Kim photo
          Taewon Kim
          CEO/ CTO
        • Dongju Ryu photo
          Dongju Ryu
          CISO / CPO
        • Chris S. Na photo
          Chris S. Na
          COO / Executive Vice President
        • Dongseop Kim photo
          Dongseop Kim
          Blockchain Engineer Director
        • KyuJeong Kim photo
          KyuJeong Kim
          Blockchain Engineer Director
        • Jason French photo
          Jason French
          Vice President
        • Jane Hong photo
          Jane Hong
          Global Marketing Director
        • Niall Moore photo
          Niall Moore
          Blockchain Engineer / Team Lead
        • Owen Delahoy photo
          Owen Delahoy
          Blockchain Engineer / Team Lead
        • Jongwhan Lee photo
          Jongwhan Lee
          Blockchain Engineer
        • Francis Lim photo
          Francis Lim
          Blockchain Engineer
        • Cindy Pinvin photo
          Cindy Pinvin
          Blockchain Engineer
        • Jimin Kim photo
          Jimin Kim
          Blockchain Engineer
        • Joowon Yun photo
          Joowon Yun
          Blockchain Engineer
        • Josh Igoe photo
          Josh Igoe
          Sr. Communications Manager
      • Advisors

        • Philipp Sandner
          Head of the Frankfurt School Blockchain Center
        • Bruce Jeung
          Certified Accountant and Established Lawyer
        • Monique Morrow
          President and Co-Founder of the Humanized Internet

      Roadmap

      • September 25, 2017
        Wave 1 | Korea Pre-ICO
      • January 3rd 2018
        Genesis Block
      • Q1 2018
        Wave 2 | Private Sale (Closed)
      • March 02, 2018
        Wave 3 | Public Presale Sign-Up Opens
      • March 30, 2018
        Wave 4 | ICO
      • June 01, 2018
        HYCON Distribution & Node
      • Q3 2018
        Infinity Platform
      • Q4 2018
        Infinity Decentralized Exchange

      Activity