Argentas – Developing Global Financial System using HydraNet Blockchain
Overview:
Argentas is a new blockchain project which aims to develop a global financial system which will work on HydraNet blockchain, network interfaces and bridge entities, and an eventual decentralized application economy. Hydra Network provides scalability, openness and a decentralized blockchain ecosystem. Argentas is decentralizing the centralized banking system and is developing the first ever decentralized open global financial system for the users. HydraNet will consist of its own currency which will be used on Hydra Network blockchain.
Challenges and Solution:
Today, we find that the financial infrastructure are closed systems and there are lot of such separate entities all over the world which do not interact with each other. This causes problems to the people as they have to bear high transactional costs. To solve these problems an open global financial system should be established which will be accessed by everyone.
Blockchain is capable of solving these problems with its advanced features like transparency, immutability, security etc. Argentas will revolutionise the global payments and banking system with the help of its HydraNet blockchain technology.
HydraNet:
HydraNet is a decentralized and distributed ledger which has its own cryptocurrency. HydraNet works on Hydra Protocol (HP). HP is environment friendly as compared to other cryptocurrencies like Bitcoin as it requires very low computational power. HydraNet’s bridge entity system will be responsible for supporting assets which are backed by other cryptocurrencies. It will also consist of a decentralized exchange. HydraNet is the second generation blockchain which will carry out thousands of transactions per second and minimize the transaction time and cost.
The HydraNet blockchain will carry out the following functions:
• It will transfer any asset with the help of its built-in decentralized exchange.
• It will consist of a clearinghouse messaging network for assets transfers.
• Providing liquidity to the users of the platform.
• The platform will also contain a gateway between blockchain-based cryptoeconomy and the "bridge" entities which will be used for holding traditional assets on blockchain network.
Wallet:
The mobile or desktop applications of HydraNet will consists of wallet which will be allocated to every user separately. The wallet will be responsible for carrying out the transactions securely. The wallet will enable the users to easily access the benefits of HydraNet blockchain technology. It will also allow users to exchange fiat directly to cryptocurrencies. In future the project is planning to add more cryptocurrencies such that the wallet will be used to access the network bridge entities like banks and their services.
Token Matrix:
Token – AXU
Total Supply – 1 Billion AXU
Price – $0.12 USD
Hard Cap – $12M USD
Verdict:
Pros:
• The technical whitepaper is explained in detail.
• The roadmap of the project consists of detailed information about the events of the project.
• The telegram group of this project is active all time and the queries get resolved quickly.
Cons:
• The social media hype of this project is low as it has around 400+ members and followers on Telegram and Twitter respectively.
• The MVP of this project is not yet available.
• Information about team members and advisors is not yet been displayed on the website.
• The information about partnerships of this project is also not available on the website.
Website: https://argentas.io/
Whitepaper: https://github.com/argentasio/Documentation/blob/master/whitepaper.md
Telegram: https://t.me/argentas1
Twitter: https://twitter.com/argentasio
ANN Thread: https://bitcointalk.org/index.php?topic=4431900.0
Bitcointalk Username: rshetty3344
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1907004
ETH address: 0x137F3CC2750C9b9bF639Cd4Bf8CB63c56823aC3c