Hexxcoin & Bitcoin’s Zero Reality
The word ‘cryptocurrency’ has a diverse meaning currently depending on the audience from the older generation thinking it’s some sort of rocket science to the younger kids that mine off the school computers hustling coins without the teachers knowing. Inbetween however is a class of investor that has a finger on the pulse that knows very well that there is a very interesting future ahead in the crypto land with technology and innovation locked in an arms race to produce a model of currency for the market with an attempt to commercialise digital currency into our modern day world.
With this however raises a few questions as to the key elements that are required to produce the ‘perfect’ coin, one that is to be utilised in a completely decentralised manner that is also smart enough to cater for the wider community with emphasis on certain elements like the privacy loophole that is currently presented. With a wide range of coins and concepts trying to fit the bill, this is where the quiet achiever Hexxcoin (HXX) comes into the picture. With a scalable functioning core model, it is able to fork with other coins for them to achieve complete anonymity in the form of zerocoin protocol – a key privacy issue that other coins have tried hard to accomplish and it’s also one of a few other features that the community based team is focusing on bringing to the cryptosphere. Starting things off, Hexx is going to fork with the one and only Bitcoin to create a new and improved version under the name of Bitcoin Zero (BZX).
What sets this apart from the rest of the privacy forks that have forked with bitcoins blockchain is that the user has the option to use their coins like a normal cryptocurrency or if they want complete anonymity, it is possible by what is known as minting which creates a new Zerocoin that takes the place of the Hexxcoin which is burned in the process to achieve complete anonymity. What happens then is that these Zerocoin’s can be transferred to another destination or even as simple as back to the user themselves anonymously which creates a new fresh Hexxcoin that is free from any strings that may be attached to it in the process which is all uniquely compiled in the core wallet itself and stays completely anonymous on the Hexxcoin blockchain.
This main feature alone can bring anonymity to Bitcoin itself when needed instead of everything being so open to view via the public ledger like it is currently. As well as that, there are a host of other key points that Hexxcoin’s structure brings to the table -
9,999,999 coins – total circulating coins, currently there are only 1,700,000 coins available
Masternodes – a good way to create residual income which also stabilises the network
CPU mining – keeps the overall mining operation more decentralised away from big ASIC miner setups
2.5 min blocktime – transactions are processed a lot quicker to avoid time lag
As well as the above, Hexx is bringing in a new system called Hexxchange which will be an exchange for converting Hexxcoin and soon to be Bitcoin Zero with other coins that are currently available to the open market. With this in mind, the potential for this system itself to improve user functionality will be a big bonus for the overall ‘ease of access’ for Hexx that will eliminate the need to be dealing with a third party exchange creating simplicity for the experienced and new amateur uses alike.
To top things off, the key event for the Bitcoin / Hexx fork will be August the 31st with a ratio of 1 Hexx : 10 Bitcoin Zero & 1 Bitcoin : 1 Bitcoin Zero creating an even playing field for the newly forked coin to start from whilst reducing any hidden selling that may occur.
With all the above in mind, Hexxcoin’s price most certainly has a lot of reasons to benefit from its low coin count and the combination of technology and innovation mixed into one forming a very interesting future for the coin and one that I’m sure will be a noticeable standout in the year(s) to come.