New Proposal for HAILP Deployment and Block Reward Distribution Adjustment Released

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Having fully developed the HCASH AI Lightning Protocol (HAILP), the HCASH tech team is now proposing its deployment on the HyperCash mainnet, along with a block reward distribution adjustment.

Proposal Background

On June 26th, 2019, the HCASH Foundation announced that the development of HCASH AI lightning protocol (HAILP) had been completed, with network testing to commence on July 1st. Testing during the public beta has been running smoothly and is expected to finish on July 31st.
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, supporting the process of the widespread adoption of blockchain technology.

Therefore, the implementation of HAILP on the HyperCash mainnet is an important task after the conclusion of the public beta.

As an additional supportive measure, the HCASH tech team have decided to adjust the block reward distribution ratio.

For detailed information, please refer to the proposal details below.

All proposals can be found at:

Implementation Plan

1. What is to be completed

  • HAILP deployment.

2. How to upgrade

  • The mainnet is to be upgraded at block height 206,666. This is estimated to occur at 20:00 on the 31st of July 2019 (GMT+8).

3. Voting period

  • The algorithm upgrade proposal will be able to be viewed by the public for one week prior to voting (10–15 July 2019, GMT+8)

4. The proposal will be approved only when it meets the following requirements:

  • The total number of votes that participate in proposal voting is no less than 75% of the total number of votes on-chain (i.e. a 75% involvement rate).

Note: If the proposal is approved by the community, the HCASH team will inform relevant exchanges, mining pools and wallets to complete the upgrade. It is possible that some may suspend HC deposit/withdrawal services.

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The New Standard of Value

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