HYCON: PROVIDING LONG LASTING SOLUTIONS TO THE LIMITATIONS OF THE B...

Blockchain started basically with bitcoin and ethereum as the major systems on the platform. Blockchain technology system ushered in a new era of transaction whereby a new medium of exchange other than paper currency is used. Blockchain ushered in the use of digital numbers as the main medium of exchange the numbers have the same function of the paper currency (USD, EURO etc) these digital numbers were basically termed "cryptocurrencies" and it was initiated by bitcoin then followed by ethereum with also new cryptocurrencies springing up almost on a daily basis due to the modification as well as adjustments in the blockchain technology system.

Blockchain technology system is said to have many postive or beneficial contribution to the mass population through its incorporation into certain areas of life but nevertheless it is also faced with certain limitations which can be said to be threats to both the scalability and also mass adoption and improvement of blockchain technology system. Some of these limitations however includes:

THROUGHPUT: This basically dwells on the issue of transactions carried out per second. Comparing the blockchain technology system to other platforms like VISA one can see that the transactions carried out per second on the VISA platform is far more greater than that in the blockchain technology system. Bitcoin was the first platform on the blockchain technology system and it was said to facilitate only about 7 transactions per second and taking about 10 minutes and more to confirm the transactions. Then the ethereum which was the second platform on the blockchain technology system was created in a more modified way than bitcoin but even at that, it only manages to process 10 transactions per second with confirmation time 10 times faster than bitcoin. But VISA on the other hand boosts of about processing about 2000 transactions per second with also a maximum capacity of about 65,000 in a second.
LATENCY: The word latency literally means a delay or period between an initiation of something and the commencement of that initiated process. And throughput and latency are however said to be interrelated in the sense that the maximum throughput of any network or platform is limited by the latency which occurs between nodes. And also the higher the latency between nodes, the higher the mining process.
SIZE AND BANDWIDTH: In the issue of size of bandwidth, two major consideration are thus made the focal point. And the considerations includes the physical data which basically represents the blockchain and the individual blocks sent over the network. The storage capacity or unit required for maintaining local ledger is said to be directly proportional to the number of the blocks on the chain and this leads to much higher risk of centralization only if the blockchain becomes so large that only a few nodes are able to process a block.
USABILITY: This another limitation of blockchain whereby transactions made on the system are said to be published as part of a block every 10 minutes approximately and also a standard to wait up to 50miutes after publication of the blocks for verification.
WASTED RESOURCES: This considers the amount of enough required to facilitate a single transaction on the bitcoin and ethereum system which are however said to be high and wen calculated annually, can power a whole country.
Other limitations includes; security, versioning, hard forks and multiple chain.
However providing long lasting solutions to these mentioned limitations will therefore usher in a new phase of blockchain technology system which is more modified,scalable and more adoptable blockchain technology system and this is the major target of HYCON.

THE HYCON PLATFORM
The HYCON platform is basically refered to as the hyperconnected coin and it is a platform whose major or main agenda is to providing a lasting solution to the limitations facing blockchain technology system and it is said to acheive this through the basis of "infinity project". The infinity project was developed on the basis of offering lasting solutions which will phase out the limitations of blockchain and thus usher in a new modified blockchain technology system which is scalable, modified and adoptable. The infinity project has major goals which includes:

MARKET NEED IDENTIFICATION: This emphasises on providing a currency that will be market friendly whereby developers and experts work hand in hand to generate a currency that will be accepted by the mass market.
USER CENTRIC PLATFORM: Hycon is set to facilitate transactions involving currency outside the jurisdiction of the banking system using cryptocurrency but here, hycon aims at setting up a platform that will be user-friendly thus giving them an edge to what the platform is all about.
FLEXIBLE INNOVATION: Hycon through the infinity project also aims at bringing or incorporating flexibility to blockchain technology system which will thus enhance it's implementation in various ways.
SECURED DECENTRALISED EXCHANGE: Hycon is set to offer a platform which will not only be secured but will also enhance the trading of cryptocurrencies in a decentralised manner.
Other goals of the hycon platform includes the adoption of a flexible currency thus with all this, hycon will thus help solve all the issues of phase out the limitations associated with blockchain technology system. The infinity project however observes one major protocol which is the SPECTRE protocol which generalises blockchain into a more directed acyclic graph (DAG) form acheived by employing a voting algorithm between pairs of blocks to aid specify their order in a manner that is pairwise.
TOKEN DISTRIBUTION

CONCLUSION
With HYCON through the infinity project issues facing adoption, scalability of blockchain will be phased. Issues like latency, transaction done in a given second amongst others and this is said to be achieved by reaching the stipulated goals of the infinity project which will help usher in a more scalable and adaptable blockchain technology system.

HYCON: PROVIDING LONG LASTING SOLUTIONS TO THE LIMITATIONS OF THE BLOCKCHAIN TECHNOLOGY SYSTEM THROUGH INFINITY PROJECT.