Hshare is flying the spike flag high on Wednesday following a 45% jump in the last 24 hours. The rest of the cryptocurrency market is consolidating the losses that were experienced on Monday and part of Tuesday. A China-based VC manager while speaking to CNBC recently said that altcoins will wait a while longer, approximately 200 days for the downtrend to come to a stop. However, he reckoned that Bitcoin (BTC) bear market has come to an end. On the contrary, the market status shows a number of altcoins like Hshare spike sending fireworks in throughout the cryptocurrency skyline.
The trading volume of Hshare has taken the biggest leap since the declines that started in the first week of September. The trading volume is up 68.2% since September 24. At the time of press, the trading volume stands at $6.1 million, up from $1.9 million. The market capitalization declined below $100 million but now it is at $132 million making Hshare the 48th largest cryptocurrency in the market. Most of Hshare volume went through TOPBTC in HSR/BTC trading pair.
In their latest weekly report, the development team presented to the community the completed projects and gave more insight into the ongoing developments. The Hshare development team via the Medium said that the work on HyperCash/HC had been successfully completed. Some of the developments included the syncing blocks from Hcd to Omni and the building of Hcwallet. In addition to the above, the team, in the past one week also fixed various bugs in the hcExplorer. Likewise, in the same week, they also improved the PoW+PoS verification program for the exchanges.
Other ongoing developments include but not limited to Hcd (development of Hcd and Omni API) and the Hcwalleet (development of Hcwallet and Omni API). Furthermore, bug fixing activities will continue in the hcExplorer.
The network is also expected to follow up on the token mapping as well as hosting upgrades, specifically on Bithumb and OKEx cryptocurrency exchanges. Moreover, the team will endeavor to provide technical support to PoW pools, for instance, those at HuobiPool and BTCC.
“We are grateful for the immense effort made by all contributors. Each contributor and community member is vital to the technical development of HCASH,” the team wrote in conclusion.
Considerably, the most important news this week is the announcement that KuCoin completed the upgrade of HSR to HC on September 25. The exchange closed all trading of HSR pairs while the users were asked to cancel their ongoing orders. KuCoin took the snapshots of all the users’ HSR assets and converted the HSR into HC in the ratio of 1:1 (1 HSR=1 HC). The exchange then opened the trading and transaction of HC while at the same time ceasing all the activities related to HSR.
About Hshare (HSR)
Hshare (HSR) is currently rebranding to Hcash (HC). Besides, the websites says that the platform is a new standard of value; a Parallel, Dual-Chain Ecosystem. Hcash uses the post-quantum signature technology. At the same time, it combines both the PoW and the PoS consensus algorithms to achieve the Hcash AI lighting protocol (HAILP). The platform also boasts of having a HyperExchange that utilizes smart contracts.
Hcash (HC), on the other hand, is referred to as a decentralized and open-source digital asset that has been built to enable exchange of value and information between both blockchain-based and not-blockchain-based networks. The platform has been built on the principles of security mainly supported by the quantum resistant signature technology.