Online transactions between two parties can be made directly through a P2P version of electronic cash without requiring a third party. However, if a third party is involved in the transaction to avoid double spending, the real benefit is lost. To address this issue, HYDRA-X proposed a solution utilizing a P2P network and Proof of Stake blockchain consensus to provide fast and economical transactions.
HYDRA-X allows everyone to take full control of their finances (HDX), become a full node (helping to maintain the network) and earn rewards every day.
What is HYDRA-X?
HYDRA-X is a decentralized and open-source P2P electronic cash system that allows users to send money (HDX) over the internet, removing all restrictions. Due to decentralization, there is no involvement of any third party, and users have full control over their money (HDX).
HYDRA-X is an endeavor to provide speedy and secure financial services to its users, following the blockchain industry’s best protocols.
HYDRA-X Utilizes Pure PoS Instead of PoW to Make Transactions Economical and Efficient
Bitcoin is created on the Proof of Work (PoW) consensus model, which has been very successful for it. Millions of people worldwide, even small children, know about Bitcoin today. But there is another side of Bitcoin that cannot be ignored.
In the case of Bitcoin, to ensure consensus, a block must contain proof that the node which generated the block is the one that solved the complex computational problem. Through PoW consensus, one can prove their efforts to achieve a result and secure the network.
PoW consumes an enormous amount of energy, making the entire process highly expensive along with negative effects on the environment.
The main advantage of HYDRA-X is efficiency, economic – ecological benefit. Therefore, HYDRA-X is developed using the pure Proof of Stake consensus.
PoS replaces PoW by requiring nodes to provide proof in the form of a certain number of coins. The node which generated the block will have to be approved via its coins before being accepted by the network. PoS elegantly resolves the problem by replacing the computing power with coins.
Several currencies have been developed using PoS. For example, NovaCoin but uses a hybrid PoS/PoW system. Since HYDRA-X focused on using the pure PoS, the platform has developed the HYDRA-X (HDX) cryptocurrency, which utilizes the pure PoS protocol.
With HYDRA-X, a new block is created every 60 seconds, the hash rate of PoW blocks is 5000, and the average block reward is 5 HDX coins and 666,000 are already premined.
HYDRA-X ensures economical, fast, and anonymous transactions. Anyone can make transactions in no time without requiring personal information while staying within the budget.
Stake and Earn X% (HDX) Reward with HYDRA-X per Day
HYDRA-X is a pure PoS blockchain that allows everyone to become a full node and stake HYDRA-X (HDX) in order to value his coins while helping to maintain the network. Users can get a reward if they keep their wallets open to secure the network via staking.
The reward depends on the number of coins you have. The more coins you have, the more you will earn by staking. Today, staking efficiency is high. We recommend: try STAKING HYDRA-X during normal computer work, test the transaction speed and note the fees. Do your detailed research.
Since HYDRA-X utilizes PoS, users do not require powerful computers. Instead, any computer with an internet connection and supported operating system can do staking. It also means there is no energy wastage, and the process is completely eco-friendly.
HYDRA-X is Open-Source and Available for Public Scrutiny
Privacy is highly important in the financial sector. In the traditional banking model, privacy is ensured by limiting the information to the trusted parties. However, privacy can also be ensured by making public keys anonymous where one can view the transaction but without the information linked to the transaction.
Similarly, HYDRA-X is also open source and available for public scrutiny to give them peace of mind, and above all, it is free to use forever. Every account is a collection of keys that are unique and owned by each user to sign transactions and contracts. HYDRA-X makes it impossible for external entities to forge your digital signature.
In the decentralized world, the main concern has always been to ensure cost-economical and speedy transactions without compromising privacy. HYDRA-X felt these pain points and stepped forward to ensure everyone could make fast and secure transactions without spending hefty fees.
The roadmap is clear with exciting plans.
The platform will soon launch HYDRA-X wallets for Android and iOS, as already available wallets are CLI and GUI wallets for Linux, MacOS, and Windows.
Get ready for the future now! Stay tuned follow our progress, our steps!
HYDRA-X LLC is a registered company in the state of Delaware, USA