Digital assets nowadays are very popular. It has a knack of getting public's attention for its huge potentials . There are some assets that jump its values 10 times and a hundred times more. The thing with digital assets is the wider coverage it has. Plus the least time it would take to execute a transaction.
But some people specially those who are seasoned financially are very reluctant investing in a non physical entity. So much so that assets are represented in just 1's and 0's . A single modification would make or break one's investment. A hacker with the right tools can run away the whole thing in a matter of seconds without a trace.
Things are now different . With Bitcoin leading the way, digital transaction ledgers that are connected to each other via Internet, has really done tremendously well. It minimizes central point of failure and time executed for each transaction . Some took this innovation to the next level and incorporated it with applications, token creations and smart contracts. But it also made some hackers to take advantage of it and made a bunch of money from a rouge smart contract. This is how HuluhaCoin would make a difference from others.
HuluhaCoin sits on OmniLayer platform same as MaidSafe. Don't let the peculiar name sets you off, it is the features that will make it rock. Let's start with Rholang, a new and smart way to develop and design digital contracts. HuluhaCoin uses this to distribute data objects known as Safe Contracts and implements self-governance, autonomous transaction execution and settling. It promises to be easy and nice way to use Rholang on computers particularly on IoT applications of blockchain. It opens up boundless opportunities and scenarios of implementing this.
Bitcoin is entirely synonymous to so called Blockchain 1.0 but version 2.0 has been developed in some different ways. The blockchain version two that HuluhaCoin sits, is being built to have a fully decentralized ecosystem. Designed with calculus-powered blockchain 2.0 framework that will develop decentralized applications for the economy of the future.
OmniLayer serves as HuluhaCoins web wallet interface. It supports multiple digital blockchain currencies. It is highly secured and easy to access and use. Asset exchanges is supported without third party involved. Even though it is on the web, it is fully decentralized, no blockchain download, open source, and has a truly user-friendly interface. Private keys are fully secured and will not be sent to server unless it is encrypted.
With the debacle that happened to the DAO smart contract on Ethereum, investors quickly realized smart, is not enough. People tend to shy away from an innovation that was marred by hacking scandals and thieves could get away hard earned assets. It should be safe and secure. Even though it is an open source program, not everybody can understand what does the code do. Safe contracts should be a priority for a trust-less paradigm. HuluhaCoin spearheads safe and secure policies to have a truly effective and smart way for a digital contract to be implemented.
Great article