HBC20 by HBIT addresses modern blockchain limitations

Introduced in 2022 by HashBit developers, HBC20 is a fully EVM compatible blockchain with smart contracts and a balanced decentralized consensus. The goal is to build an all-in-one ecosystem for dApp developers and retail users.

Pioneering PoA Blockchain with Smart Contracts: What is HBC20?

Launched in the midst of a bearish recession in 2022 HBC20 proof-of-authority (PoA) blockchain uses three revolutionary narratives of the Web3 segment: a stand-alone infrastructure, 360° compatibility with the leading programmable blockchain Ethereum (ETH) and an opportunity for seamless cross-blockchain communication.

▶️#HBIT.BEP20 facts:

☑️Total offer: 50B
☑️Locked: 15.81B (HBIT Java Chain)
☑️Circulates: 34.19B

💎34.19B/50M= under 783 Holders can receive rewards on #BEP20 Dividend! too low….

💵Buy yours now and enjoy a low price: https://t.co/Gp0SDNebDx#BSC #BNB #Binance #challenge #hodl pic.twitter.com/h824Hy8SRV

— HashBit BlockChain (@HashBitorg) 16 December 2022

The blockchain’s tokenomics is underpinned by HBIT, a BEP-20 token on the BNB Smart Chain (BSC). Each HBIT on BSC is mirrored by a token on the original HBC20 chain, which will be released to investors once the token sale has ended. The BSC-based version of the token was activated on October 26, 2022 via a public auction.

To ensure the sustainable operation of its ecosystem, HashBit decided to launch HBC20 as a standalone chain: if one of the chains fails, investors will not be affected. Being fully compatible with Ethereum (ETH), HBC20 ensures the possibility of seamless migration to Ethereum-based decentralized applications (dApps).

Cross-chain compatibility is the third pillar of the HBC20 narrative: the blockchain is designed for easy transfer of value and information between different heterogeneous decentralized networks in a non-custodial way.

Pushing barriers to throughput and scalability

Innovative technical design allowed the HBC20 blockchain to achieve impressive scalability and speed measurements. The blocking time does not exceed five seconds. For example, in Bitcoin (BTC), a block is mined every 10 minutes: the block time is 120 times higher than that of HBC20. Ethereum (ETH) processes blocks 2.5 times slower than the HBC20 network does.

The HBC20 network has achieved 100,000 transactions per second (TPS) throughput. To provide context, Bitcoin (BTC) can only process three transactions per second; for Ethereum (ETH), this calculation is limited by 15 TPS. The HBC20 blockchain challenges the supremacy of third-generation blockchains, including Solana (SOL) and Avalanche (AVAX).

As such, the HBC20 network has achieved much more impressive transaction speed than its biggest competitors in the programmatic blockchain segment. The platform also operates with ultra-low transaction fees: each transaction is charged with only 0.000021 HBIT. Smart contract operations may incur slightly higher fees, but in general all transaction costs remain negligible on the HBC20 blockchain.

Combined with a fair and inclusive proof-of-authority (PoA) consensus, the HBC20 network is an example of how the “blockchain trilemma” puzzle can be solved without sacrificing speed, decentralization or security.

Introducing the HBC20 ecosystem: Launchpad, NFTs and in-browser wallet

All these functions do HBC20 blockchain the go-to solution for decentralized applications on Ethereum (ETH) and EVM-compatible blockchains from previous generations. However, HBC20 itself is building a multi-product ecosystem of applications and platforms for retail users and entrepreneurs.

HashBitPad is among the key ventures: the platform allows projects to raise funds from purpose-built decentralized liquidity pools. These pools can offer liquidity to early-stage projects in a completely trustless way, removing the need for third-party control. Once the round is over, projects can issue tokens to investors without leaving the starting field.

Subsequently, HBC20 has a separate marketplace for non-fungible tokens (NFT) on board. Digital art enthusiasts with varying levels of expertise in blockchain, crypto trading and the like can launch and release their collections to the public without intermediaries involved. This platform opens up huge opportunities for traders, commission agents and NFT collectors.

For common use, the HBC20 ecosystem has created an on-chain wallet that can be run through users’ browsers. Not unlike the popular MetaMask plugin, it is designed for non-custodial storage of cryptocurrency funds in HBIT and all existing and upcoming HBC20-based blockchains.

For entrepreneurs, HBC20 has released a code-free instrument for coining tokens. Anyone can design and mint their tokens on the HBC20 blockchain without writing a single line of code. Last but not least, the HBC20 ecosystem has its own mobile wallet for iOS and Android based smartphones. The HBC20 mobile application is an ideal entry point for no-coiners interested in joining the thriving ecosystem of the HBC20 blockchain and its products.

Apart from that, HBC20 has managed to create a passionate and large community of enthusiasts who are active on Telegram Messenger and on Twitter.