《OUR TRILLION CURRENCY EMPIRE ep3-4》 Hcoin issuance policies

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  • The issuer of Hcoin is Himalaya International Financial Group Ltd., registered in the British Virgin Islands.
  • The first issue of Hcoin will be offered to Himalaya Exchange members in the form of a private placement and will not be open to the public.

The issuance method will define the possibility of performing transaction and payment functions

Hcoin is an ERC-1404 token that is based on Ethereum and has backward compatibility with the ERC-20 standard.
ERC-20 and ERC-1404 are “Token Agreement”, a standardized token contract code interface.

Zhengqing explained that the standardized token protocol is based on the format framework provided by Ethereum for issuing tokens, and is compatible with other products issued based on the protocol.

ERC-20 standard

It is the most widely used standard, currently more than 390,000 types of virtual currency use it, which represents the vast majority.

ERC-1404 realizes the role of Hcoin to protect assets and customers

The ERC-1404 token agreement is specifically designed for securitized tokens or other tokens that meet the regulatory requirements of the issuer, allowing the issuer of such tokens to implement regulatory transfer restrictions. Hcoin has added the lock period feature. Unless the transfer is verified by a third party authorized by the issuer and is whitelisted, the external Hcoin transfer will be blocked for 366 days to prevent the client’s assets from being misappropriated or to prevent violations of the laws and regulations of values.

After a large number of cryptocurrencies are in circulation, in the event that there is legislation in a specific country or region that restricts the circulation of Hcoin, transfer restrictions can ensure that customers do not violate the financial regulations of other countries.

Can Hcoin be exchanged with other virtual currencies after issuance?

Zhengqing said that in the future, the Himalaya Exchange will issue a variety of different types of cryptocurrencies, and such a plan is also contemplated within the White Paper. At that time, users can use other cryptocurrencies to exchange for Hcoin and thus achieve asset protection.

The G series will serve as a demo of the Hcoin application

As a means of payment, Hcoin will be implemented first in G series applications, proving to the outside world that Hcoin has huge profit margins and attracting commercial projects to Hcoin.

Hcoin’s formal verification resolves existing vulnerabilities in smart contracts

Formal verification means that the Hcoin team specifically establishes a set of mathematical verification models for the Hcoin code and accurately demonstrates whether there are vulnerabilities in the model, and the results are handed over to a special team to fix the flaws.
In the field of cryptocurrencies, formal verification is very important as a means of detecting leaks, but the cost is extremely high. Once the code auditing company detects the leaks, the technical team can resolve system problems quickly and efficiently to further ensure user safety and system credibility.

Himalaya Exchange’s rigorous compliance procedures will strengthen government confidence in Hcoin

In the future, even if Himalaya Exchange supports other cryptocurrencies, the platform will first go through a rigorous Know Your Customer (KYC) procedure when users sign up, this is to get a basic understanding of the situation of each user and establish compliance. If the government has doubts about the legality of specific user transactions, the platform will be able to quickly provide compliance with the procedures.

The power of Hcoin is based entirely on the free market mechanism

Based on his own practical experience, Zhengqing further speculates that even if the Himalaya Exchange supports other cryptocurrencies in the future, Hcoin could not be replaced. When Hcoin becomes the primary means of payment, users will only need Hcoin. Even if Hcoin occupies an important position in the market in the future, it will not have a negative impact on the general trading environment. Because the development of Hcoin is based on its own technical strength, perfect market measures and services to obtain a market position, and not on controlling or restricting the appearance or circulation of other new virtual money.

Hcoin is suitable for the activities of all types of companies and works as a reserve of national capital

The foundation for Hcoin to become a trillion currency empire lies in its inclusive development. The development of Hcoin will penetrate various fields and forms of business activities, as well as having the role of the state as a reserve of capital. The content of the White Paper reveals that in addition to allowing investors to understand Hcoin, it also gives them limitless imagination, directly reflecting Hcoin’s concept of introducing new types of digital assets. In addition to being a medium for various business activities and a national capital reserve channel, Hcoin is more than an investment attribute, Hcoin offers its more secure, flexible and profitable target users to choose from.

The meaning of the construction of the “trust” of the gold reserves of HCoin

Gold reserves are not used to stabilize the price of Hcoin. Gold reserves are one of the trusted sources in Hcoin for the market, investors and the country. The core of the currency’s value lies in trust, and trust is established from multiple sources. When it comes to Bitcoin, as a pioneer in the cryptocurrency industry, it has earned the trust of the public. The CCP uses Bitcoin to transfer funds and bypass supervision, so the trust of bitcoin was built on its functionality.

Hcoin has multiple levels of confidence

  • Confidence in the field of business applications: According to the whitepaper, Hcoin’s business applications plan is complete and it is enough to win the favor and trust of the business field.
  • Confidence in technical capabilities.
  • The trust function of the capital reserve: Based on Hcoin’s own trading profitability. Example: transaction fee.
  • Gold Reserves: Hcoin can provide long-term stable support through gold reserves and build confidence in the Hcoin market.

《OUR TRILLION CURRENCY EMPIRE ep3-5》Himalaya Exchange

Edited by zhong
Translated by 謎擬Q and 追尋自由

Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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