HexxCoin HXX Price HXX to USD Price and Live Chart
HEX was initially distributed to Bitcoin holders through a snapshot of the Bitcoin UTXO set at block height , offering 10,000 HEX per 1 BTC. This distribution was available only during the first year of launch, after which unclaimed HEX was redistributed to active stakers. Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on 964 exchanges. HexxCoin is a secure, blockchain-based system and decentralized network with a proof-of-stake consensus and all of the functionality of competing payment coins.
- At the end of the first year of launch, all HEX coins that were not claimed by Bitcoin holders are distributed to the rest of the HEX users who have stakes that are active.
- One of the primary real-world applications of HEX is its function as a store of value.
- The HEX smart contract operates on the Ethereum network, utilizing its transaction layer for sending and receiving tokens.
- Users can stake their HEX tokens to receive a share of new coin issuance, incentivizing long-term holding and penalizing early withdrawals.
From its innovative launch and distribution model to its performance and marketing strategies, HEX continues to be a topic of interest and debate within the blockchain community. Bitcoin holders received HEX through a snapshot of the Bitcoin UTXO set at block height , with a distribution rate of 10,000 HEX per 1 BTC. This claim period lasted for one year, during which HEX could also be acquired using ETH via the HEX smart contract.
Market Overview
At the end of the first year of launch, all HEX coins that were not claimed by Bitcoin holders are distributed to the rest of the HEX users who have stakes that are active. The maximum possible annual inflation of HEX is designed to be 3.69% after the first year of launch. While the circulating supply is not publicly confirmed, — wallet addresses currently hold HEX. HEX is a blockchain-based certificate of deposit created by Richard Heart on 2 December 2019.
Who are the founders of HEX?
It governs the staking process, where users can lock up their HEX tokens for a share of the new HEX coin issuance, also known as inflation. The smart contract penalizes users who end their stakes early, thereby encouraging longer staking periods. The maximum annual inflation rate of HEX is designed to be 3.69% after the first year, ensuring a controlled supply of new tokens. This inflation mechanism, combined with the staking incentives, aims to create a sustainable and appreciating asset for its users. This hybrid approach combines the security benefits of PoW with the energy efficiency and scalability of PoS. In the PoW component, miners validate transactions and secure the network by solving complex mathematical problems.
What is the technology behind HEX?
The community remains divided, with some viewing HEX as a groundbreaking financial innovation and others expressing doubts about its future. These strategies have included high-profile advertisements and sponsorships, aimed at increasing visibility and adoption. The marketing efforts have been a double-edged sword, attracting both interest and skepticism from the broader cryptocurrency community. As a cryptocurrency, it can be used for transactions, offering a decentralized alternative to traditional payment methods.
Unlike traditional cryptocurrencies, HEX allows users to lock up their coins for a fixed period to earn rewards, leveraging a “Proof-of-Wait” consensus mechanism. This method is less energy-intensive compared to the conventional Proof-of-Work protocols. The HEX smart contract penalizes stakers for ending their stake early and rewards them for staking larger amounts of HEX for longer periods. The price has decreased by 1.8% in the last hour, decreased 5.73% in the last 24 hours, and decreased 22.94% in the last 7 days.
Track HEX Price Today, Live HEX Price Chart & Market Cap
CoinCodex tracks 44,000+ cryptocurrencies on 400+ exchanges, offering live prices, price predictions, and financial tools for crypto, stocks, and forex traders. HEX’s current circulating supply is 173.41B HEX out of max supply of 633.54B HEX. Despite its early successes, HEX has faced challenges, including recent declines in its price. These fluctuations have sparked further discussions about the sustainability and long-term viability of the project.
This could be particularly useful in regions with limited access to banking services or where traditional financial systems are less reliable. Designed and launched by Richard Heart on 2 December 2019, HEX describes itself as a Certificate of Deposit on the blockchain.
- Bitcoin holders received HEX through a snapshot of the Bitcoin UTXO set at block height , with a distribution rate of 10,000 HEX per 1 BTC.
- Annual inflation is capped at 3.69 percent and is paid only to stakers, discouraging short-term trading and rewarding committed participants.
- Launched by Richard Heart on December 2, 2019, HEX operates as an ERC20 token on the Ethereum network.
- Many long-time “Hexicans” hold and stake both variants as a hedge while the market decides the ultimate balance.
HEX, a cryptocurrency designed by Richard Heart and launched on December 2, 2019, operates on the Ethereum blockchain. This ERC20 token aims to replicate the traditional Certificate of Deposit (CD) in the decentralized finance (DeFi) ecosystem. Unlike traditional CDs, which are offered by banks, HEX leverages blockchain technology to offer a decentralized and trustless financial product. HEX (HEX) is a cryptocurrency that redefines the concept of a Certificate of Deposit (CD) on the blockchain. Launched by Richard Heart on December 2, 2019, HEX operates as an ERC20 token on the Ethereum network.
HEX, an ERC20 token launched on the Ethereum network, was designed by Richard Heart and introduced on December 2, 2019. HEX aims to serve as a blockchain-based Certificate of Deposit, a financial product traditionally used in banking. This innovative approach leverages the decentralized finance (DeFi) ecosystem within the Ethereum network. The maximum annual inflation rate for HEX is capped at 3.69% after the first year. This controlled inflation rate is designed to mimic the interest rates offered by traditional financial products like CDs, providing a predictable and stable return for stakers. The staking rewards are distributed proportionally based on the amount and duration of the stake, encouraging users to commit larger amounts of HEX for longer periods.
Security is a paramount concern in the blockchain space, and HEX addresses this through multiple layers of protection. The Ethereum network itself is highly secure, benefiting from a large number of nodes and miners that make it resistant to attacks. Additionally, the hxx coin price HEX smart contract has been audited to ensure its integrity and security. By operating on Ethereum, HEX inherits the network’s resistance to common attacks such as 51% attacks, where a malicious actor gains control of the majority of the network’s mining power. Operating within the Ethereum network, HEX integrates seamlessly with the DeFi ecosystem, utilizing Ethereum for transaction processing while its smart contract handles staking and rewards. This dual-layer approach ensures both security and efficiency in managing transactions and staking activities.
Holders lock HEX for fixed periods ranging from 1 day to 5,555 days and mint their own yield, with longer and larger stakes earning proportionally higher returns. Annual inflation is capped at 3.69 percent and is paid only to stakers, discouraging short-term trading and rewarding committed participants. The code is open source, immutable and trustless; once a stake is made, only the staker can end it, and early withdrawals incur built-in penalties that flow to compliant stakers. HEX’s journey has been marked by significant events that have shaped its trajectory in the cryptocurrency landscape.
The PoS aspect allows users to stake their HEX tokens, locking them up for a specified period to earn rewards. This staking mechanism is designed to incentivize long-term holding and discourage short-term speculation. The HEX smart contract is central to its functionality, managing the staking mechanism and consensus code. Users can stake their HEX tokens to receive a share of new coin issuance, incentivizing long-term holding and penalizing early withdrawals. This staking system is designed to encourage price appreciation and discourage behaviors detrimental to the token’s value.
Unclaimed HEX tokens after the first year were redistributed to active stakers, further incentivizing participation in the network. The HEX smart contract operates on the Ethereum network, utilizing its transaction layer for sending and receiving tokens. This integration allows HEX to benefit from Ethereum’s robust security and widespread adoption.
The consensus code and staking mechanism are contained within the HEX smart contract, ensuring that the staking process is transparent and secure. One of the primary real-world applications of HEX is its function as a store of value. Users can lock up their HEX tokens for a specified period, earning interest in the form of additional HEX tokens. This staking mechanism is embedded in the HEX smart contract, which incentivizes users to hold their tokens longer, thereby potentially increasing their value over time. The smart contract also penalizes early withdrawals, encouraging long-term investment behaviors.