NOVEMBER 2017
novations with the IoT. The Hyundai-backed project is working on a practical application of this concept, in the shape of an ultra-advanced micro-payment system. Partnering with other South Korean-based innovation start-ups including Doublechain, HyundaiPay, and DEXKO, Hdac is developing a new platform based on Multichain, capable of handling the scale and contract functionality required for an IoT platform, as well as bridges to the Bitcoin and Ethereum networks to facilitate payments. Learning lessons from the blockchain industry, Hdac differentiates from other platforms in terms of efficiency, security, functionality and speed with modifications and optimizations featuring: - P2P and dispersion structure distributing targets. If distributed computing development is limited in private blockchains, the network can be solved through a “safe IP” tool. - a trust-based network sharing transparent transaction details of participants and storing them reliably. - immutability of information validated by each network participant, guaranteeing in-
The key is blockchain’s sophisticated cryptographic security, with highlycomplex mathematical encryptions making it economically unviable to crack even with quantum computing. Its decentralized nature would also make it difficult for would-be hackers to pinpoint a target for attack, minimizing the impact of individual attacks on IoT devices.
tegrity against counterfeit and falsification attacks. - authentication and authorization procedures of principal IoT devices. - decentralization, resulting in efficient allocation of resources and lowered construction costs A total currency issuance on the Hdac blockchain has been determined at 12 billion DAC, with a first block reward of 5,000 DAC before halving every 840,000 blocks. Block generation cycles are set at 3.5 minutes, resulting in an approximate halving time of 58 months. 10% of DAC generated has been set aside for participants contributing to the Hdac Foundation during a presale and Token Generation Event (TGE) launched recently. If successful, Hdac will be a future-proof payment system connected to the IoT through a trust-based blockchain network, enabling IoT devices to make payments on behalf of humans. At the same time, IoT devices powered by Hdac will mean more actionable data to improve human lives, businesses and governments. Talk to the Hdac team in their Telegram channel at https://t.me/HDAC_TGE 103