HiCoin is a blockchain-based protocol that seeks to reduce energy consumption within the cryptocurrency ecosystem. To achieve this, HiCoin proposes to create a network that uses a proof of stake (PoS) strategy to build the security model. According to the whitepaper, HiCoin is a project with the goal to demonstrate the viability of a network that does not depend on immense sources of energy.

Most of the cryptocurrencies use a proof of work (PoW) strategy to generate new tokens.). Despite the necessity for PoW in the initial stages of the distribution process, it gradually loses its importance. Additionally, the nature of PoW makes power consumption an integral part of the token creation process. The users have to bear this excess overhead cost. Thus, for the developers of HiCoin, it was technologically important to build a platform that does not rely excessively on energy usage.

HiCoin uses a hybrid design where the blocks are separated into two categories. A dual system uses both PoW and PoS strategies for specific requirements. The PoS uses a unique transaction called Coinstake. Using this method, a user consumes their tokens to generate a new block for the blockchain. By doing so, PoS also assists in the creation of new tokens for the platform.

HiCoin aims to use a checkpoint mechanism to reduce the threat of attacks on the blockchain. The strategy aims to ensure that the blocks are not reorganized without the agreement of all the community members. For this reason, checkpoints are introduced into the network that would update the status regularly so that all the users are aware of even a minor transaction being executed.

HiCoin implements a duplicate-stake protocol. As per this protocol, each block is signed by its owner. By doing so, the chances of an attacker using the same PoS to generate multiple blocks can be ruled out. Thus, HiCoin strives for a network protected by PoS even when the energy required for PoW becomes zero.

The whitepaper of HiCoin was released in 2015.

(1) http://xhicoin.io/home/theme/basic/img/WHITE%20PAPERS.pdf

(2) http://xhicoin.io/home/

(3) https://www.coinbase.com/learn/crypto-basics/what-is-a-blockchain

(4) https://www.coinbase.com/learn/crypto-basics/what-is-a-protocol#:~:text=Protocols%20are%20basic%20sets%20of,to%20be%20shared%20between%20computers.&text=The%20blockchain%20would%20work%20like,power%20of%20the%20entire%20network.

(5) https://www.coinbase.com/learn/crypto-basics/what-is-cryptocurrency

(6) https://www.coinbase.com/learn/crypto-basics/what-is-proof-of-work-or-proof-of-stake#:~:text=What%20is%20proof%20of%20stake%3F&text=In%20a%20proof%20of%20stake,earn%20some%20crypto%20in%20exchange.

(7) https://www.coinbase.com/learn/crypto-basics/what-is-a-token#:~:text=Technically%2C%20%E2%80%9Ctoken%E2%80%9D%20is%20just,they%20are%20technically%20also%20tokens).

We update our HiCoin to CAD currency in real-time. Get the live price of HiCoin on Coinbase.

The current market cap of HiCoin is CA$0.00. A high market cap implies that the asset is highly valued by the market.

The all-time high of HiCoin is CA$0.12. This all-time high is highest price paid for HiCoin since it was launched.

Over the last 24 hours, the trading volume of HiCoin is CA$0.00.

Assets that have a similar market cap to HiCoin include BERNcash, Bitcoin 21, PostCoin, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of HiCoin is 0.