What is the Hathor Network?
Since the Hathor Network has now officially been listed on CoinMetro, our new friends deserve a proper introduction.
Hathor is a scalable and easy-to-use blockchain for digital assets. The direct result of over seven years of scrupulous academic research carried out by its founding members, this network is based on an entirely novel architecture.
The Hathor Network aims at solving the problems of scalability and decentralization maintenance among distributed ledger networks. Building decentralized apps and platforms as well as creating tokens on Hathor is as easy as never before – anyone could do it.
What are the main features of the Hathor Network and what makes it different?
What is the Hathor Network?
Hathor is a platform built for financial transactions and contracts. It has a one-off combination of high scalability and high decentralization.
Hathor’s first testnet went live in May, 2019. On January 3rd, 2020, the mainnet was launched.
Where scale, efficiency, long-term security, and censorship-resistance through network distribution combined are needed or current costs and bureaucracy can be reduced, the Hathor Platform comes into play.
Have a look at a visualization of Hathor’s graph with transactions and blocks.
Red boxes are blocks; green circles are confirmed transactions; white circles are in-progress transactions; yellow circles are unconfirmed transactions; and grey circles are transactions solving the proof-of-work, which haven’t been propagated yet. The arrows show the confirmation chain. The blocks’ arrows are in bold.
Hathor (HTR) is the native utility token of the Hathor Network that is needed to access the decentralized payment, contracting, and token issuance capabilities of the network’s technologies.
Why is it Different?
- The Hathor Network is the best synonym for the latest features combined with a scalable decentralized architecture.
- Hathor’s technology is a natural evolution of Bitcoin’s blockchain, achieving 200+ transactions per second with no central coordinator or masternodes.
- It’s a scalable blockchain in which absolutely anyone can create their own token – just for fun.
- The Hathor Network enables an easier and safer implementation of Smart Contracts.
- There are no fees for sending or receiving tokens.
- Built-in Atomic Swap enables to reliably exchange different tokens on the same transaction.
Let’s sum it up! The network’s architecture allows the platform to scale on layer one, achieving hundreds of transactions per second as a result.
Furthermore, Hathor focuses on usability for the end user. In other words, creating a new token is as easy as 1-2-3.
To top it off, there are zero fees for exchanging tokens.
A Unique Source Code
The innovative Hathor’s source code intertwines DAG and blockchain technologies. Interestingly, there is no other project currently developing a similar solution.
To provide a further explanation, new transactions confirm previous ones, thus forming a DAG. Each transaction comes with its own proof-of-work, whereas the issuer solves the PoW before propagating the transactions in the network.
Similarly to Bitcoin, miners find new blocks, which, in turn, form a blockchain inside the DAG. Blocks collect newly generated tokens and confirm all the transactions in the DAG.
The Hathor Network’s novel architecture provides a one-of-a-kind solution to scaling, centralization, and spam issues.
Why Does Hathor Use Merged Mining?
Miners find new blocks which form a blockchain inside the DAG, thus ensuring security when the number of transactions per second is small. Blocks collect newly generated tokens and confirm all the transactions in the DAG.
Bitcoin is the most secure blockchain network to date. Out of a multitude of networks, it’s the one with the most computational power protecting its ledger. Compared to others, an attack in the Bitcoin network is very unlikely.
The Hathor Network opted in for piggy-backing on the Bitcoin network of miners, meaning that a network of miners will validate Hathor’s distributed ledger.
Using merged mining doesn’t affect Bitcoin mining in any way. Quite the contrary, it motivates its miners by rewarding them with HTR tokens – at no extra cost.
The Main Features of the Hathor Network
What are the main features at the core of Hathor?
Creating Digital Tokens
The Hathor Network allows you to create custom tokens with only one click. Come again?
These tokens will be fully workable under the same technical assumptions as the native Hathor tokens – HTR.
There are multiple use cases for the tokens: financial participation in a company, mileage or loyalty points of a specific store or network, votes, ownership of digital goods, and several others.
Nano Contracts represent an easier and safer implementation of Smart Contracts which connects real world data (oracles).
The Oracles are an important concept in Nano Contracts. These are agents that submit pieces of information from the real world (or outside the network) into the network.
What Kind of Wallets are Available on Hathor?
There are wallets for Mac, Windows, and Linux available for download on the Hathor Network website.
Start Trading Hathor on CoinMetro
CoinMetro has just started off with HTR/EUR – the only HTR fiat pairing in the world!
HTR deposits and withdrawals are open and another world’s first – the HTR/USD pair – will be coming soon. You will be able to fund it with Instant ACH and wire transfers.
Next, even more trading pairs are coming soon, including HTR/BTC. Stay tuned for more!
Why Trade Hathor with CoinMetro
CoinMetro was built to become a fully regulated and licensed crypto exchange platform that would revolutionize the crypto scene. Our fees are lower and solutions, far more innovative as compared to the majority of crypto exchanges in the market.
Not only that, our team of dedicated professionals has a superpower – predicting potential. Listing a token or coin, we do it for a reason. Our list of digital assets has names on it that are ready to explode.
A Hathor Launch Special is – not yet – another reason to start trading HTR with us. Right now, you’ll receive €5 when you sign up with CoinMetro using the link provided! Simply deposit €50 and reach €250 trade volume by May 1st, 2021.
Join the crypto revolution today by signing up for your very own trading account with the industry’s top player.