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Hathor AMA

To help celebrate the listing of Hathor (HTR) on AscendEX, AscendEX’s Mary Zheng sat down for an AMA with Hathor’s CEO and Co-Founder Yan Martins to gain more insight into the project’s success and strategy for the future.

Project Details

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Mary Zheng | AscendEX

If you don’t mind, let’s start with the introduction of Hathor Network the history as well as the team?

Yan Martins | Hathor

Sure! Hathor Network started from the PhD thesis of Marcelo, our CTO. He’d been studying blockchain scalability problems for a while and intensified it during the 2017 bull run, given all the problems that were going on. So after he finished his thesis in 2018 he decided to move forward and make his studies a reality. That’s when he called myself and some other friends and former co-workers, both developers and on the business side, to start the company. That was back in August 2018 that we officially started. Since our network is coded from this new architecture he proposed in his thesis, we had to code it from scratch. So it took us 1.5 year from start to launching the mainnet in January 2020.

Mary Zheng | AscendEX

Great, let’s transition a bit towards the native token — HTR. Curious how the HTR token functions within the platform and why is it needed?

Yan Martins | Hathor

HTR is a utility token and the native currency of Hathor Network. It will always be the gateway to the current and future services possible on the platform. Right now, the most notable use case is minting your own token, something anyone can easily do with our wallet and without a single line of code. Future services we have planned on the network, like nano-contracts, side-DAGs and so on will also use HTR in a similar way.

Mary Zheng | AscendEX

Cool. May I ask who will be the users/clients on your platform and what some examples of use cases for them are?

Yan Martins | Hathor

Hathor Networks aims to make blockchain easy to use for everyone. It can be for institutions or regular people like you and my mom. We offer this simplified suite for developers and end-users alike to reduce the entrance barriers for adoption.

Mary Zheng | AscendEX

Could you please also introduce Hathor Network, the history and project itself?

Yan Martins | Hathor

Some examples of use-cases being built on Hathor are social tokens, local currencies, NFTs, or supply chains that need a simple token to be implemented on their production.

Also, by attracting enterprise use cases, we expect that a lot of end users won’t even realize they’re using blockchain tech behind the scenes. That’s where we believe massive adoption will happen. For instance, one of the use cases we recently announced (Affero Flow) involves tokenizing user participation and rewards on their enterprise educational platform, which has a couple thousand users. All of those will be using Hathor Network under the hood without dealing with the complexities of blockchain.

I talked a bit about the history before but forgot to introduce the network.

Hathor Network is a PoW-based novel distributed ledger architecture using both DAG and blockchain data structures intertwined, built with a completely new architecture.

We’ve been live on mainnet since January 2020. Our first product is an easy-to-use tokenization service, integrated with our wallet. We will add other features in the future, such as the upcoming nano-contracts, oracles, and side-DAGs. We’ve also been closely following the NFT market and studying what makes sense integrating. We have built a platform that anyone can use without being a blockchain expert and with lower risks. We see that a lot of what prevents blockchain technology adoption is the complexity. By building an easy-to-use platform, we believe we can finally see blockchain adoption go mainstream.

This image summarizes a lot of info about the project

Mary Zheng | AscendEX

Let’s talk about the current landscape of other projects doing something similar. What separates you from some of the competitors?

Yan Martins | Hathor

The feeless transactions are something that definitely catches the attention of many people and is very unique, although other projects might have some low fees. Apart from that, an equally important feature in my view is being a permissionless layer-1 network. There are no coordinators or masternodes. We’re similar to Bitcoin in that sense. Coupled with that we have a battle-tested consensus mechanism and merged mining with BTC and other sha256 coins. This is important as there are not many scalable PoW networks out there. Finally, the simplicity to develop on our network is unique. We believe we can be simpler, safer and cheaper to use for the large majority of blockchain use cases, especially tokenization.

Community Questions:

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Miners are a key piece of Hathor’s environment: they help keep the network secure by mining Hathor blocks. What mining software do we need to install if we want to mine Hathors (HTR)?

Yan Martins | Hathor

We use sha256 for mining, the same algo as BTC. In fact, we support merged mining with BTC. That means you can mine BTC and HTR at the same time. It’s the same hardware as BTC miners.

We also recently announced a partnership with F2pool, one of the leading BTC pools worldwide. You can connect to their pool to start mining HTR (and BTC).

If you want, you can read more about merged mining here: https://medium.com/hathor-network/explaining-merged-mining-dcecccb0005c

🟧🟧🟧🟧🟧🟧 Lionel Messi 🟪🟪🟪🟪🟪🟪

Communities are very important for the development and spread of projects. Will you build communities that add value to the Hathor Network? Are you open to different and creative ideas?

Yan Martins | Hathor

Definitely want to get new ideas. In fact, we just started our Community Program to increase community participation.

https://medium.com/hathor-network/hathor-community-program-liftoff-a353cd0d1331

Santhosh Srinivasan, [19.05.21 08:34]

The crypto industry as a whole is moving away from PoW to PoS due to energy and computational considerations. What is Hathor Network’s take on this?

Yan Martins | Hathor

I find this debate pretty interesting. Personally, I disagree with the critics of BTC power consumption. But I won’t go into details as there are many levels to this debate. In Hathor’s case, merged mining allows us to have a PoW network without any extra energy use, by taking advantage of BTC mining. It’s kind of like getting a ride instead of driving your own car to work.

Oğuz Ceylan

What is your strongest/biggest advantage that you think will make Hathor Network team leading the market?

Yan Martins | Hathor

The simplicity, feeless transactions and reduced risks are big advantages of our network. We believe this will attract many users and enterprises to develop use cases, which is the end goal of all crypto projects (or at least should be, in my view).

I want to invite everyone here to the promo we’re doing to celebrate our AscenEx listing:

https://gleam.io/G5wDT/hathor-ascendex-listing-promo

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AscendEX is a leading global digital asset financial platform founded by a group of Wall Street quantitative trading veterans in 2018, servicing retail and institutional clients in over 200 countries and regions of the world.

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