HyperCash is a digital currency and interoperability focused Directed Acyclic Graph (DAG) network that was launched in 2017. The HyperCash ecosystem also features the HyperExchange prominently, and the HyperCash and HyperExchange work together to offer the full set of features that the team believes will create a “new standard of value.”
Featuring a dual-chain ecosystem, the network is designed as a sidechain that can solve the problems of communication between blockchain- and DAG-based networks. The first chain, HyperCash, uses the HC token, while the second chain HyperExchange, uses the HX token.
The HyperCash token runs on a hybrid Proof-of-Work and Proof-of-Stake (PoS) consensus mechanism, the former of which prevents pre-ICO stakeholders from having too much influence. Another much-marketed feature of the network is its quantum-resistant signature, a technical development that the team says will defend against quantum decryption techniques.
There are several other ambitious technical implementations in mind. This includes a privacy preserving protocol, ASIC resistance to prevent mining centralization and HCASH AI Lighting Protocol (HAILP). The team also places an emphasis on network governance, calling it a Decentralized Autonomous Corporation (DAC).
Some significant technical progress has been made in 2019. Version 2.0 of RingCT, which provides privacy, was developed. The HCASH AI Lighting Protocol (HAILP), which the team says is fundamental for performance and third party development, also had its test version released in 2019.
For the rest of 2019 and 2020, the team is planning to complete the development of. An expansion of the ecosystem is also a major area going into the future, as HCash’s value lies in facilitating the exchange of data between different blockchain networks. Currently, the team is attempting to make the network compatible with the Byteball and Zcash networks, though as mentioned, others are in mind too.