Web 3.0 is a concept that has been in vogue for the better part of the decade due to its massive potentials.
The ability to have applications digest large-scale information needs interoperability and cross-compatibility within a network of computers.
Blockchain technology has been designated as the possible solution to driving web3.0 applications due to its unique applications in different sectors. Smart contracts have proven useful and have been used to develop several automated solutions that have transformed finance.
However, the complex nature of smart contracts and codes for many blockchains have ensured that adoption has been limited to developers and tech junkies. Hathor is a blockchain protocol that changes this perception with its innovative approach.
A Simple way to build decentralized solutions
Hathor is a blockchain protocol built on the proof-of-work consensus and deploys DAG and blockchain data infrastructure. It is a highly cerebral project and has scientific and academic personnel in its team.
Hathor is built on the proof-of-work consensus, which ensures security and decentralization compared to other blockchains. However, to mitigate against the problems of P-O-W, Hathor has deployed merged mining which allows the mining of multiple cryptocurrencies without added effort. As a result, miners can mine Hathor tokens and bitcoin without the need to get extra hardware or higher electricity costs.
The key concept of Hathor is providing a blockchain network where all can build decentralized based solutions. This has made it garner the nickname of the ‘’Wordpress of blockchain’’ due to the shared simplicity of building solutions.
Hathor’s one-stop solution makes it easy for teams and projects to create dApps without extensive technical knowledge. Instead, they are provided open APIs in multiple programming languages and familiar code tools that anyone with basic coding skills can easily harness to build tokens and dApps.
To further buttress the prior point, anyone can mint custom tokens using the Hathor or desktop wallet within a few minutes. All they need to do is lock 1 HTR token for every 100 units of custom token issued on its blockchain. This is unique and means that anyone can create their custom tokens without complex requirements.
NFTs are an important part of web 3.0 due to the value they represent and have been touted to be a major component of the metaverse. Several companies have announced their intention to develop NFTs, and Hathor provides an in-expensive option. NFTs can be minted on the Hathor Desktop wallet and only cost 0.02 HTR tokens. Furthermore, NFTs minted can be transferred within the Hathor ecosystem without transaction fees.
Key developments
Hathor blockchain has experienced real uses since its mainnet launched in 2020. It has engaged in different strategic partnerships and released a debit card in collaboration with Simplex, and its token HTR is integrated within the leading hardware platform Ledger.
Several projects have been built on its blockchain, including 9Block, the high-profile NFT platform created by influential Brazilian celebrity Felipe Neto. It also hosts Dropull, an NFT for in-game items in Cidade Alta, which is one of the largest gaming servers in Latin America with 120,000 active users. Other platforms include Kick-Off Music, Databoi, Horus NFT Arts and Marketplace.
Hathor is also building a decentralized exchange that will enable atomic swaps, staking, liquidity mining, and yield farming. Hathor token, HTR has is listed on several platforms, including Kucoin, AscendEX, Coinmetro, SimpleSwap, and more. To learn more about the project, visit the links. Website | Medium | Twitter | Telegram.
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