Vladislav Sopov
HBC20, HashBit (HBIT) ecosystem’s novel blockchain project, designed to introduce a solution to the “blockchain trilemma”.
Introduced in 2022 by HashBit developers, HBC20 is a fully EVM-compatible blockchain with smart contracts and a balanced decentralized consensus. It aims to build an all-in-one ecosystem for dApp developers and retail users.
State-of-the-Art PoA Blockchain with Smart Contracts: What is HBC20?
Introduced amid the recession of 2022, the Proof-of-Authority (PoA) blockchain HBC20 leverages three revolutionary narratives of the Web3 segment: a self-contained infrastructure, 360° compatibility with the leading programmable blockchain Ethereum (ETH), and an opportunity for seamless cross-blockchain communication.
▶️#HBIT.BEP20 facts:
☑️Total offer: 50B
☑️Locked: 15.81B (HBIT Java chain)
☑️Circulation: 34.19B
💎34.19B/50M= Holders of less than 783 can earn rewards on #BEP20 dividends! too low….
💵Buy yours now and take advantage of the great price: https://t.co/Gp0SDNebDx#BSC #BNB #Binance #defi #hodl pic.twitter.com/h824Hy8SRV
— HashBit BlockChain (@HashBitorg) December 16, 2022
The tokenomics of the blockchain is underpinned by HBIT, a BEP-20 token on BNB Smart Chain (BSC). Each HBIT on BSC will be mirrored by a token on the native HBC20 chain, which will be released to investors upon completion of the token sale. The BSC-based version of the token was activated via public auction on October 26, 2022.
In order to ensure a sustainable operation of its ecosystem, HashBit has decided to launch HBC20 as a standalone chain: if one of the chains fails, investors will not be affected. Being fully compatible with Ethereum (ETH), HBC20 ensures the possibility of seamless migration to Ethereum-based decentralized applications (dApps).
Cross-chain compatibility is the third pillar of the HBC20 narrative: the blockchain is designed for easy transfer of value and information between different heterogeneous decentralized networks without custody.
Overcoming throughput and scalability barriers
Cutting-edge technical design enabled the HBC20 blockchain to achieve impressive scalability and speed metrics. Its block time does not exceed five seconds. For example, Bitcoin (BTC) mines a block every 10 minutes: its block time is 120x faster than HBC20. Ethereum (ETH) processes blocks 2.5x slower than the HBC20 network.
The HBC20 network has reached a throughput of 100,000 transactions per second (TPS). To provide context, Bitcoin (BTC) can only process three transactions per second; for Ethereum (ETH) this metric is capped at 15 TPS. The HBC20 blockchain challenges the supremacy of third-generation blockchains, including Solana (SOL) and Avalanche (AVAX).
As such, the HBC20 network has achieved far more impressive transaction speeds than its main competitors in the programmatic blockchain segment. The platform also works with extremely low transaction fees: each transaction is only charged with 0.000021 HBIT. Smart contract operations may be subject to slightly higher fees, but in general all transaction costs remain negligible on the HBC20 blockchain.
Combined with a fair and inclusive Proof-of-Authority (PoA) consensus, the HBC20 network is an example of how the “blockchain trilemma” puzzle could be solved without sacrificing speed, decentralization or security.
Introducing the HBC20 ecosystem: Launchpad, NFTs and in-browser wallet
All these properties make the HBC20 blockchain the ideal solution for decentralized applications on Ethereum (ETH) and EVM-compatible blockchains of previous generations. However, HBC20 itself is building a multi-product ecosystem of applications and platforms for retail users and entrepreneurs.
HashBitPad is among its key ventures: the platform allows projects to raise funds from purpose-built decentralized liquidity pools. These pools can provide liquidity to early-stage projects with complete confidence, eliminating the need for third-party oversight. Once the round is over, projects can release tokens to investors without leaving the launchpad.
Then HBC20 introduced a native marketplace for non-fungible tokens (NFTs). Digital art enthusiasts with different expertise in blockchain, crypto trading and the like can start their collections without intermediaries and share them with the general public. This platform opens up tremendous opportunities for traders, order pickers and NFT collectors.
For mainstream use, the HBC20 ecosystem has created an on-chain wallet that can be run from users’ browsers. Similar to the popular MetaMask plugin, it is designed for non-custodial storage of cryptocurrency funds on HBIT and all existing and upcoming HBC20-based blockchains.
For entrepreneurs, HBC20 has released a no-code tool for token mining. Anyone can design and mint their tokens on the HBC20 blockchain without writing a single line of code. Last but not least, the HBC20 ecosystem has its own mobile wallet for iOS and Android-based smartphones. The HBC20 mobile application is an ideal entry point for no-coiners interested in joining the thriving ecosystem of the HBC20 blockchain and its products.
Additionally, HBC20 has managed to build a passionate and large community of enthusiasts active on Telegram Messenger and Twitter.
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