Hybrix Hy Token Listed On BiKi Exchange: A Review Of Its Interoperability Solution
Hybrix Hy, the cryptosphere unifier token, has been listed on the BiKi Exchange. This is a big step in the marketing strategy of the development team because it opens up the Asian market to the Hybrix Protocol, a project that has successfully created the world's first ever multi-ledger token that seamlessly facilitates interoperability between different blockchains.
BiKi Exchange is known for listing a wide variety of popular and quality projects and adding Hybrix token Hy to its platform is a huge milestone to the Hybrix project. With Hybrix listed on BiKi, more market opportunities are made available for the Hybrix team to explore and expand.
CRYPTOSPHERE PROBLEM and the HYBRIX META-PROTOCOL SOLUTION
Hybrix Protocol has taken the cryptosphere by storm and has moved cryptocurrency several steps towards achieving mainstream adoption as a transactional tender. For a very long time, in fact since the inception of Bitcoin blockchain, cryptocurrencies have demonstrated that indeed, peer-2-peer dealings without third party is possible and more beneficial to both parties involved in terms of costs of transaction, security, anonymity, transparency, ownership of data and immutability. But despite these positive attributes of the blockchain, cryptocurrencies are still limited in utility and adoption especially as a unit of business tender. There are two major issues mitigating the full adoption of cryptocurrency namely:
High volatility and
Lack of interoperability of blockchains
The first issue, high volatility, has been to a large extent, taken care of by the introduction of stablecoins which are cryptocurrencies pegged to the value of certain Fiats like USDT token pegged to the US dollar with minimal price fluctuations. But then, there is still little or no interoperability between cryptocurrencies and stablecoins to speak of.
For the second problem, some moves have also been made to provide solutions to it like the atomic swap that can be initiated on ledgers. Unfortunately, the atomic swap is quite technical, requiring a certain level of technical know-how in the use of Hash TimeLock Contracts (HTLC) before it can be carried out and this effectively makes it out of reach of the average crypto investor or trader.
WHAT THEN, DOES HYBRIX DO?
Hybrix has developed a Meta-Protocol solution to solve the interoperability problem of cryptocurrency by creating a unifying token that can operate utilizing the underlying structures of different blockchains.
Instead of creating another blockchain and adding to the ever increasing number of blockchains on the cryptosphere, Hybrix Protocol chose to offer a token that can operate on different chains, a feat that has hitherto eluded the crypto world due to underlying differences and incompatibilities from one blockchain to the other.
No wonder it is known as the crypto unifier.
The Hybrix multi-chain transaction history/ Block explorer is a clear example of what the Hybrix Protocol entails as it allows you to search for transactions and wallets across different chains and ledgers. This defines, practically, the cross-ledger transaction and multi-chain transaction properties of Hybrix Protocol.
The Hybrix token Hy, can be used as a store of value transferable across different ledgers and chains without going through any exchange platform.
For Hybrix Protocol to connect to the various blockchains, it uses its unique peer-2-peer network daemon known as Hybrixd. The Hybrix node API is publicly available and connects to the API node of different blockchains securely and safely.
HOW TO CREATE HYBRIX WALLET
The Hybrix has a web based wallet that is secure and available on different operating systems and devices. Creation of a Hybrix web wallet is quite easy and entails the following steps:
Go to http://wallet.hybrix.io/ and click on Create new account
On the following screen, you will see an instruction asking you to make random movements on your screen to generate your random security number. Do that and go to the next step
On the next screen, you will see that your account has been created with your system-assigned account ID and password. Copy both out and store them securely. Click on Continue
The next screen is asking you to check that you have your login details securely written out as any loss will mean permanent loss of that account. Click on Continue
And...voila! You are done. Click on sign in to access your Hybrix wallet.
Click on +Add wallet tab to add any token wallet you want.
So far, Hybrix is the only crypto project that have developed the one-token for all chains solution to solve interoperability problem on the cryptosphere and it has achieved this by creating an agnostic 2nd-layer platform that interacts with different ledgers and chains using its native Hy token. This means that right now, tokens and stablecoins can interact and be transferred across different ledgers and chains successfully and safely without having to go through third-party exchanges.
The Hybrix Protocol currently supports over 31 blockchains and 387 tokens. It is assisted, endorsed and supported by household names in the industry like Lisk and Internet Archive. With the Hybrix listing on BiKi Exchange, the Asian market has been opened up and since it boasts of large number of crypto traders and investors, it means huge market and development opportunities for Hybrix to further achieve its aim of unifying cryptocurrency and pushing up mainstream crypto adoption.
For more information visit the following links
BTT profile link