What is HyperExchange

HyperExchange allows the decentralised exchange of assets accross different blockchain systems

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Grand launching of Senator Selection

After months of research, development and refinement, the HCASH Foundation is proud to announce that the mainnet for the HX network has achieved stability, and it has now been running effectively for over one month. Therefore, the Foundation has decided that the first election of a HX Senator will officially begin from January 8th, with the entire election period to last until February 15th.
websit url: http://senator.hx.cash
The schedule is as follows:
1. The Foundation will review the eligibility criteria that a candidate Senator must adhere to: from 8th Jan to 8th Feb (GMT+8)
2. Citizens will then be able to submit a proposal to nominate a Senator: on 9th Feb (only on 9th Feb) (GMT+8)
3. All Citizens will then be able to vote for a desired Senator: from 9th Feb 2019 to 15th Feb (GMT+8)
The opening of the Senator election is an important milestone, in that HX will be the first project after BTC to gradually hand over governance controls to its community, without having conducted an ICO. A Senator is a pivotal position within the HX community. While receiving considerable benefits, Senators shoulder the responsibility of maintaining node stability and asset security in the network. Below, we’ve listed several basic requirements for anyone interested in participating in the election:
1. All candidates must agree with HX’s governance structure and governance philosophy;
2. All candidates must use their real legal name during the campaign;
3. All candidates must be capable of completing stated basic duties required from an individual in a Senator position in an efficient and effective manner.
Any user interested in becoming a Senator will also need to place a pre-determined amount of HC tokens in the network to act as a performance bond (also known as a collateral deposit). If a Senator candidate is selected as a Senator, his/her collateral deposit will be transferred into a Senator contract address. If a Senator candidate is not selected, his/her collateral deposit will be returned in full (this process is not automatic; candidates will need to manually transfer funds back to themselves if not selected). For further information regarding this, the Hcash Foundation recommends that you review the Document page on the hx.cash website.
Note: One can be considered as a Senator candidate only after being recognised by the Foundation and HX team.
Cross-chain Transactions
RPPoM Consensus Mechanism
Community Governance
Smart Contracts

An “interlinked, bifocal” dual-token and dual-chain ecosystem

After the launch of HCASH mainnet v2.0, features such as post-quantum cryptographic signatures and a hybrid PoW+PoS consensus mechanism will be fully implemented and operable. From here, developers focusing on HyperCash will begin to develop blockchain technologies that fulfil its objectives.

 

HyperExchange, the other mainchain in HCASH system will be launched too, acting as the first system to achieve interoperability using a Blockchain Multi Tunnel (BMT) protocol, HyperExchange Axis, Indicator, smart contracts and other blockchain innovations. HyperExchange lays the foundation for building cross- chain distributed commercial applications in its ecosystem.

 

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  • Cross-Chain
    Cross-Chain Interconnection

    HyperExchange takes the lead in implementing inter-blockchain value interconnection via a Blockchain Multi Tunnel (BMT) protocol.

    The realisation of cross-chain functionality has significant implications for the field of blockchain technology as:

    • It allows value to be transmitted between blockchains;

    • It dissolves barriers between independent blockchains to provide a foundation for building a globally interoperable blockchain ecosystem;

    • It allows existing blockchains to expand beyond their constraints;

    • It connects existing internet infrastructure to blockchain systems.

  • 100% Reserve
    100% Reserve Ratio

    In order to ensure the stability and safety of the HCASH ecosystem, the reserve amount of HyperExchange to HCASH will be kept at 100%. Each HIOU will have its corresponding asset (such as BTC, ETH, etc) placed into hot or cold multi-signature wallets on the original chain. Those addresses will then be managed by a RPPOM consensus mechanism. This ensures that all assets on the HyperExchange network will not be modified or destroyed without reason, and that increases or decreases in assets always correspond to users' deposit or withdrawal activities.

  • High Efficiency
    Efficiency

    In accordance with the RPPOM consensus mechanism, the HyperExchange network produces a block every 5 seconds, resulting in significantly faster transaction confirmation speeds. This is illustrated best when compared to BTC, which produces a block every 10 minutes, or LTC, which produces a block every 2.5 minutes.

     

    Overall, HyperExchange’s theoretical TPS (transactions per second) can reach 10,000, which is enough to carry high-load transactions on multiple chains.

  • Smart Contract
    Smart Contracts

    By using Turing-complete smart contracts, HyperExchange users can flexibly extend and customise complex business transactions and financial contracts. This can be done without modifying and updating the code of the original chain itself, and so, a dynamic expansion function with limitations is realised. For example, on the HyperExchange, smart contracts can be implemented, some of which include:

    token contracts, trading contracts, lock-up contracts, various DAPP contracts, and so on.

  • RPPoM
    (Random Pool Proof of Multi- properties)
    RPPoM Consensus Mechanism

    HyperExchange uses a RPPoM (Random Pool Proof of Multi-properties) decentralised consensus mechanism, which is a stochastic multi-asset equity staking consensus algorithm. There are four roles that exist within the HyperExchange ecosystem:

    Tourists, which include all ordinary users on the HyperExchange chain; Candidate Citizens, who pay a fee to be able to accept pledges from other users on the chain; Citizens, who are block generators and community governors; and Senators, who are asset managers and community administrators.

  • Flexible
    Transaction Fees
    Fee Flexibility

    Transaction fees on the HyperExchange chain can be paid using HX and a variety of HIOU payments. If a user has any HX or HIOU, they can directly trade without having to worry about fees.

    The exchange rate on the HyperExchange is not fixed, but is determined by market dynamics. As the price of Hyper Assets fluctuate, the HIOU required to facilitate a transaction will also change accordingly.

The Function of HyperExchange

HyperExchange is designed to help the HCASH ecosystem achieve value through connecting blockchains together. Through injecting resources into its ecosystem from its developers and integrating resources from other chains, HyperExchange can jointly build an ‘interlinked, bifocal’ dual-token and dual-chain ecosystem with HyperCash, with HyperExchange focusing on expanding the HCASH ecosystem.

 

HyperExchange will enable accessibility among blockchain and non-blockchain networks, and will provide HC holders with benefits such as an increased weight of mining and more administrative decision-making power within the network.

 

COMMUNITY GOVERNANCE
Empowering Stakeholders

To successfully ensure long-term progress whilst maintaining community involvement, HCASH must implement a complete and robust governance mechanism.

Bitcoin relies on developer groups and miners to coordinate updates, but this process is slow due to disagreements between both, ultimately resulting in forking. HyperExchange focuses on a well-designed community governance mechanism to empower the community and avoid disagreements.

Q2 2016
Base platform construction
Initiated smart contract development
Q1 2017
Complete virtual machine architecture
Q1 2018
Initiate cross-chain technology development

Completed core functionality of cross-chain technology (BTC/LTC)

Completed testing on cross-chain technology

Q3 2018
Complete cross-chain development, commence main net testing

Consolidate with HC main net ecosystem

Complete asset tokenisation / HRC20 standard functionalities

Accomplish HX smart contract transaction fee distribution function

Complete optimisation of smart contract executing environment, accomplish lite node, lite storage

Q4 2018
Complete integrated development environment (IDE)

Complete SDK (Software Development Kit)

Complete Dapp development environment

Q1 2019
Accomplish cross-chain transaction via DAG
Q2 2019
Complete the development of high performance parallel computing functionality
Q3 2019
RPPOM consensus upgrade
What’s Next?

We will keep true to our vision, and continually improve our operations in terms of research, technological development, marketing, community involvement and beyond.

Research Partners
  • SJTU
    SJTU is a public research university in Shanghai, China. The university is one of the first national institutions of higher learning in China, and renowned as one of the oldest, most prestigious and selective. It is one of the nine members that make up the C9 League of universities.
  • Hong Kong Polytechnic University
    The Hong Kong Polytechnic University is a public university located in Hung Hom, Hong Kong. The institution ranks 7th place on the 2019 Quacquarelli Symonds “Top 50 under 50” list which ranks the world’s top 50 universities established within the last 50 years.
  • Monash University
    Monash University is a member of Australia’s Group of Eight, a coalition of Australia’s eight leading research Universities, and one of two Australian universities to be ranked in the École des Mines de Paris (Mines ParisTech) ranking on the basis of the number of alumni listed among CEOs in the 500 largest worldwide companies.Move Monash University to center in order to make it symmetrical.

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