What is iht cloud coin (Does iht cloud coin have potential)?

08/13/2023 17:09 • Tech Ticker • 102 views

What is iht cloud coin? Iht cloud coin is a type of virtual currency based on blockchain technology. It uses a distributed network to store and manage assets, enabling users to trade, store, and exchange value without relying on servers, and provides them with a new financial model.

According to official introduction, “iht cloud coin” is a new form of encrypted digital token developed on the Ethereum public chain. It leverages the characteristics of Bitcoin blockchain technology, allowing people to achieve peer-to-peer payments and direct communication with others on a global scale.

Does iht cloud coin have potential?

According to IMEOS report, a project called “iht cloud coin” has recently appeared on the Huobi Heco chain. The founder of this project is Lin Jiawen (Lin Jiabo), and his team consists of Singaporeans, blockchain practitioners, and investors. He has said, “We have our own digital currency ecosystem.”

However, Lin Jiawen did not specify the specific product details, but simply introduced a platform: iuht.

To help users understand this project, Lin Jiawen hopes to understand the usefulness of this technology through the operation of this platform.

First, let’s take a look at what it is and why it has such great potential, what is the value of this technology?

Because this project adopts a new consensus mechanism – HashedPoW algorithm, it can ensure that both parties in a transaction receive corresponding rewards, and it can also guarantee the privacy and security of users. As for ordinary users, if they have not used this technology and have already started participating in mining or do not know how to participate, their profits may be considerable and may be affected by network bandwidth consumption. So, it is necessary to pay attention to some relevant information about it. Currently, all wallet software on the market can be used for mining, such as imToken, BitKeep, etc.

Second, let’s look at two advantages:

1. Security

Because the smart contract code based on the Bitcoin network is on the Ethereum virtual machine, it cannot be as secure as Ethereum, a public chain like Ethereum.

2. Decentralization

With the continuous rise of Bitcoin prices and the improvement of Ethereum’s own performance, the network capacity of Ethereum will gradually increase, attracting more developers to join. In this way, Ethereum will become more efficient and increase cooperation between node operators.

3. Efficiency

According to the information displayed on the testnet, when the block height reaches 1000, the whole network can accommodate up to 1 million validator nodes, thereby improving the overall network computational power and reducing transaction processing costs per second. Once each block is packaged into a new block, it will generate a large number of transaction requests, leading to an increase in network throughput.

4. Scalability

In addition to the above advantages, there are a few other notable points:

1. High availability

Currently, the majority of mainstream exchanges support ETH and EOS mainnet, so there is a strong demand for ETH and EOS. However, from the current market performance, the TPS of the ETH mainnet is still much lower than that of BTC. Most applications based on the Ethereum network are still running on Bitcoin, and Bitcoin, as an important component of distributed storage, has been performing steadily. This determines the size of its use case, especially in the DeFi field. Many projects are trying to solve the issues with ETH, but these issues may not completely meet people’s expectations.

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What is iht cloud coin (Does iht cloud coin have potential)?

Does iht cloud coin have potential?

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