For this week’s special feature, where we cover the project behind the best performing token reported in our last weekly recap, we will talk about HTMLCoin, an ambitious proposal looking to take the best elements of Bitcoin and Ethereum, merging them, and improving on, to establish a solid and effective new blockchain model that can properly withstand the workload of larger audiences.
The “Why”
Given that last year we saw the greatest amount of ICOs taking place since the conception of Bitcoin, it’s logical that most of these projects are highly specific and oriented towards either very niche audiences or certain demographics and operations within economic sectors (payments or deposits within banking, for example).
But for projects like HTMLCoin, the issues lay beyond a lack of specificity or difficulties for implementation, but in inherent problems that come with the way the most popular models of blockchain are designed. Due to the required cryptographic encoding and validation process for the transactions, blockchains like Bitcoin and Ethereum are not natively suit to function properly if the number of simultaneous users or transactions reaches the hundreds of thousands, even less.
The “How”
By taking some elements from major blockchain models and polishing certain rough edges, HTMLCoin are convinced that they can create a new standard in terms of performance and stability, without sacrificing security or availability for users. Be it for trading cryptocurrency, creating wallet platforms, checking the status of mining pools or supporting the development of professional apps and services, their claim is that their system will not only make this process easier, but will also allow for strict monitoring.
Using the DoubleSHA-256 cryptocurrency protocol, a method of enhanced hash rate compensation that adjusts the chain every 120 blocks, a combined codebase made of both Bitcoin and Ethereum and tools for developing smart contracts and decentralized apps, they have already create a system solid enough to catch the attention of many exchanges and media outlets, like Yahoo! Finance and Nasdaq.
The “When”
In their website, HTMLCoin offers a real-time tracker of progress in the different areas of their project. Currently, their website and different wallets (web, Android, iOS and others) are completed and deployed, along with their block explorer and API creation. Their integration with exchanges and complete support are close to be completed, while the facilitation of pools and payment systems are still in their early stages.
Right now, the HTMLCoin is listed in a wide variety of exchanges, including HitBTC, CoinExchange, BlockNet, BleuTrade and SistemKoin, with the list increasing steadily. This means that the project is convincing enough for the token to be accepted in more platforms as time goes by, giving it concrete evidence of their advancements and a promising future in the mid-term.