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A Complete Guide to Hathor Network (HTR)

hathor

Ever since the Hathor Network, often abbreviated as HTR, emerged. It has been a revelation after revelation. The cryptocurrency combines the security model backed up by blockchain with transaction scalability from DAG. It’s also well-known for its different benefits like combined mining with Bitcoin. It combines this with free and speedy transactions, capability to take care of Nano Contracts and effortless tokenization.

This underrated cryptocurrency recently emerged in 2020 and its project is showing bright signs of investment potential. Even if it’s new to the stage, it can compete with older and more popular cryptocurrencies, especially if more people start to use it.

In this guide, we will be looking at what crypto investors and enthusiasts need to know about Hathor (HTR).

scalable and easy to use blockchain

The Basis of Hathor Network

Before we get into it, here is the rundown of this coin:

  • Hathor (HTR) is a hybrid of Directed Acrylic Graph and Blockchain technology, so investors and users can enjoy the benefits of both. They get rid of the problem of security, decentralization and scalability through this hybrid approach.
  • The Proof of Work mining process of this coin is combined with that of Bitcoin and Litecoin rewards. This makes sure the resources are distributed without a centralized organization.
  • Nano Contracts are also added to Hathor, and the former is simply known as smart contracts with computation power and way lower fees.
  • The infrastructure of this cryptocurrency incorporates atomic swaps. This allows separate tokens to be exchanged simultaneously, offering more efficiency.
  • Finally, Hathor is known for the single-click custom token creation process. It allows you to get your HTR back if you choose to melt your tokens. If you stake 1% HTR of the tokens you’re making, you can do this.

As Hathor says on its official website, the currency solves, ‘the problem of scalability with a novel architecture using both DAG and Blockchain intertwined.’

Special Benefits offered by Hathor

benefits of hathor network

The Hathor Network seems to have learned from the mistakes of older cryptocurrencies. It offers a wide range of advantages from free and speedy transactions to high growth potential.

  • With the combination of blockchain and DAG, all transactions whether small or high are secured, respectively.
  • The cryptocurrency can be traded and transacted without paying fees. This separates it from top players like Bitcoin and Ethereum.
  • It is highly scalable and speedy, quickly moving towards its goal of becoming interoperable with other blockchains.
  • Its easy one-click custom token creation sets it apart from other coins. You don’t need any coding experience to create tokens. The official website boasts that a 13-year-old kid can create their token for fun. You can also exchange them with each other with the built-in atomic swap.
  • It features straight to the point smart contracting with its Nano contract capabilities.
  • The market cap of HTR in comparison with other blockchain offers high growth potential.
  • When you mine Hathor, you can practice merged mining. This is possible without losing profit from other chains and motivates miners to secure and mine the cryptocurrency.

As for its price and investment potential, the technology and utility behind this cryptocurrency will make evident the possibilities for price action. It has excellent potential for long-term investment and there is an expectation for super high prices after halving and vesting.

hathor network mining

Hathor’s Tokenomics

hathor logo

There are a few moving parts to the tokenomics of this cryptocurrency. You can get a better understanding when you read the full document on the official website. It begins with mined and pre-mined tokens, which makes up the entire circulating supply.

6% of the tokens are gotten by the Hathor team in an endorsed event. The other 94% will be released over time according to a 4-year schedule. The treasure tokens are targeted towards growth and initiatives. But the vaulted tokens are backed up by a 5-year lock and will be assessed regularly to see if the unneeded ones should be burned.

As for the circulating supply schedule of the Hathor coins, it is promising inflation rates going above 100% in 2021. Although, it will reduce drastically and reach about 1.11% by 2025. This is important to short term traders, but this inflation rate will not drastically influence the price action of this crypto coin. It still shows promising price increases.

Hathor mining is connected to Bitcoin mining. This is aimed towards benefitting from the existing Bitcoin infrastructure and security that the network offers.

comparison between blockchains
Credit – Adapt Crypto

The Roadmap

There is a lot to look out for in the Hathor roadmap. For one, the cryptocurrency network offers a virtual debit card from HTR/FDT called HathorSwap. This is a part of the roadmap discussion.

The plans of this currency include the release of Nano contracts, integration and ability to transact with other blockchains and NFT integration.

Hathor also plans to implement side DAGs for 3rd party oracle incorporation and increased scale. These are their plans for the year 2021. There are a lot of eyes on whether they can pull these ambitious plans off and stand out from other blockchains. Here you can view their full roadmap.

hathor roadmap simple

The Team

The Hathor Network team is public. It is led by the co-founder Marcelo Brogliato who put seven years into academic research and a PhD thesis before founding this cryptocurrency. The team of engineers and researchers have also been studying this currency for years.

A branch of the company is Hathor Labs, and this takes care of fundraising, productivity and protecting the locked pre-mined tokens. It will transition into Hathor Foundation which is based in Switzerland.

There is also a grants program aimed at supporting innovation and community engagement.

Finally, HTR/FDT is coordinating and building with Hathor by taking care of HathorSwap, the debit card and future Layer 2 infrastructure. You can find more information about Polkadot DEXs here.

Competitor Blockchains

SpeedFeesDecentralized exchangesFounded in/Age
Polkadot1 Million TPS$1.00+Zero, Polkaswap, Polkadex2016/5 years
Ethereum10-15 TPS$5 – $100+Uniswap, IDEX, Kyber & more2013/8 years
Tomochain2,000 TPSTomoX2017/4 years
Solana1,000 TPSUp to $10LunaDEX, Serum2017/4 years
Cardano290 TPS0.155381 ADA2017/4 years
Avalanche4,500 TPSZero, Avalanche-X2020/1 years

Hathor Compared to Ethereum

Hathor is very similar to Ethereum in the area of token platforms and smart contracts capabilities. So, when looking for a blockchain to compare it to, it is usually the latter.

Ethereum emerged in 2015 with smart contract capabilities that transformed the market. It’s known for offering a lot of flexibility in token creation functions that allow users to send tokens to others. Also, the ability to keep track of what a user has in store. It is a smart contract.

But, one of the major downsides is the fact that users have to write code and deploy a smart contract to make a token. It makes it very different from Hathor. Even with the token standards, it’s still not an easy task. There’s also the problem of bugs in the software which has caused the loss of millions previously.

Ethereum also has transaction fees which are directly impacted by the way the token was designed. This is unlike Hathor which attracts zero fees and speedy transactions.

Furthermore…

Even if Ethereum allows users to create customized tokens, it doesn’t happen in practice the same way it does with Hathor. With the latter, you can customize tokens in a few clicks. But, with Ethereum, the process is longer than coding the standard tokens. So, most people go for the standard tokens as they meet most of their needs.

Hathor makes itself different from Ethereum with its different design. It incorporates the most-used token features in the protocol. This makes the Hathor Network very similar to HTR, the native token.

As implied earlier, users don’t need to write a code to get the tokens. They only set some parameters including the token name, initial supply and symbol. There is also a Hathor desktop wallet which makes it easy and fast to manage your tokens.

Conclusion

If Hathor can deliver on its road map, its technology and price movement is filled with excellent potential. As they work on achieving their goals, investors and Twitter users are already intrigued by HTR and its impressive potential. Many already think it is undervalued.

Keep your eyes peeled on more news from Hathor, and see just how much it can improve the crypto scene.

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