On June 26th, 2019, the HCASH Foundation announced that the development of HCASH AI lightning protocol (HAILP) has been completed, with network testing to commence on July 1st.
After nearly one year — thanks to the team’s continuous efforts, the target to Complete HAIL Protocol Development in Q2 2019 in the roadmap has been successfully reached, with the vision of “A New Standard of Value” being realised progressively. The launch of the HCASH AI lightning protocol continues to not only set the precedent for the community’s expectations, but also fulfils the needs within the industry.
The launch of HAILP is a fundamental component in the development of HCASH, enabling real-time payments, low-cost transactions, scalability and privacy preservation not only on the HC blockchain, but with the possibility of implementation in other mainnet crypto assets. This opens the market for practical third-party HCASH applications, promoting the process of empowering blockchain within the world’s economy.
HAILP adopts the solution of a double-layer network. The first is the PoW+PoS consensus mechanism, which serves as the underlying network, and AInode being the top layer, based on the HAIL Protocol. AInode functions to enable lightning transactions, private transactions and light node services. Users who stake 1,000 HC can apply to become an AInode, with the ability to participate in community governance, and deal with lightning transactions in return for block rewards and trading fees.
It is simple for ordinary users to make lightning transactions, as there is no access threshold, no node construction fees, and no need to pre-deposit crypto assets. The HCASH AI lightning Protocol also supports offline, private, and on-chain transactions, providing solutions to various technological problems within the blockchain industry, and significantly optimising user experience.
The launch of HAILP demonstrates the achievements of HCASH to the public, with the upcoming network testing providing important reference data for the official launch of HC lightning network. This serves to guarantee its stable and secure operation, and allows users to provide suggestions for its future direction.
The HC mainnet will continue to be committed to the research and development of underlying blockchain technology. Its major direction is to realise private transactions and ASIC resistance on the basis of a new ring-signature technology, and to realise decentralised file storage through AInode via the HC lightning network. The HCASH team will continue to make upgrades and optimise the mainnet in respect to security, scalability, privacy and user experience, and offer better services to the community, partners and developers.
The HCASH team are eager to continue their hard work, and would like to express their sincere gratitude to users all over the world for their continuous support!