Updated: Mar 5, 2021
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I'm going to get straight to the point, what people want is something simple and straightforward to use & whatever provides this will prevail. No current blockchain solution does. Hathor wants to solve this.
What does HTR do?
HTR is a utility token and the native currency of Hathor Network. It will be the portal to all available services on the platform. Currently the star of the show is being able to mint your own token! Yes that's right, on Hathor you can easily create your own token in a few clicks! They have additional planned services on the network, like Nano Contracts, side-DAGs (Explained below) and much more!
What's the vision?
From an overarching perspective Hathor Network aims to solves scalability and ease of use. From both the technical and the business standpoints, Hathor understood that there was still a lot to be done in these key areas and by doing so they could start a chain reaction of mass adoption to blockchain by startups, users & Enterprise Businesses.
Technically speaking it has a DAG of transactions with a blockchain intertwined. (The DAG-based framework could even lead the way toward Blockchain 3.0. Let's delve a little deeper.
DAG stands for “Directed Acyclic Graph”. The system doesn’t look like a chain but (as the name suggests) more like a graph. It’s possible that the DAG model may substitute blockchains thanks to a more effective structure for storing data and processing transactions online.
So what is this model trying to address? Mostly decentralisation and scale, two of the most talked about pain points of existing blockchain technology.
The DAG model improves security and usability & doesn’t follow the blockchain structure. So, instead of storing data in blocks, its framework uses nodes and groups of nodes that can be developed simultaneously.
That was the architecture Marcelo came up when researching how to solve the problem of scalability of blockchains.
From a business perspective the biggest problems Hathor are tying to solve are:
How to grow your blockchain application
With these issues in the forefront of their mind they designed their network, this is what they offer:
Easy to use tokenization
Smart contracting features (Nano Contracts)
Let's look at the roadmap:
Hathor are flexible and adaptable by nature & say that as priorities change items may be switched around at any time with changes to the market. We really like this, it shows they're open to change & have the ability to adapt quickly to a fast moving landscape that is crypto.
Let's take a look at what caught our eye!
Looking at Q1 they mention grants, they want to aide builders & businesses through funding which they'll be doing towards the end of march!
Q2 Brings the Nano contracts & the ability to add programmability to your custom token by simply configuring a few parameters. An entirely new approach to smart contracting not seen in any other layer ones!
Towards the end of Q2, we’ll also see the first products built on top of Hathor Network by partners that received the first grants.
On 27th of January 2021, Hathor Labs move forward with the changes proposed for the future circulating supply previously published:
20% are permanently out of circulation!
18% moved to a 5-year lock!
After 5 years of main net on Jan 3rd, 2025 Hathor Labs will re-evaluate whether the vaulted tokens will be needed for the project’s growth and support, they may also be put out of circulation partially or entirely!
We love the transparency that Hathor display, they clearly explain their processes & what they're thinking for all to see. This project showcases all of the major things we look for in a project:
Vision for the future
Solving, not just one problem but multiple!
And it's safe to say Hathor has all of these & more!
We love that they have taken something that is really complex in nature and simplified it for anyone to use, this is going encourage so many new people into the crypto space & new users onto their network in huge numbers!
It's clear to us that Hathor is here to solve problems that we're facing & will be a force to reckoned with in the future!
Create your own token
What we love about this is that instead of charging a fee to create a new token, they require the creator to deposit a sum of HTR as collateral, which can later be returned if those tokens are melted! How good is that!
Why are Hathor different?
No fees You don't have to pay anything when sending or receiving tokens. Yes you heard that right!
Built-in Atomic Swap Different tokens can be reliably exchanged on the same transaction.
Nano Contracts An easier and safer implementation of Smart Contracts which connects real world data (oracles).
They solve the problem of scalability with a novel architecture using both DAG and Blockchain intertwined.
Easy to use
As you can see sitting at $0.73 this gem is an absolute bargain!
We must stress that this is not financial advice and please do your own reading.
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