Is Hydra a cryptocurrency?
Donald The live Hydra price today is $6.92 USD with a 24-hour trading volume of $386,365 USD. Hydra is up 20.31% in the last 24 hours. The current CoinMarketCap ranking is #2686, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.
Back in 2018, the team behind LockTrip has published a document labeled “LockTrip Blockchain Manifest” which has become the fundamental design document of the Hydra Chain. The document was based on actual hurdles that were encountered as part of the development of the LockTrip DaPP.
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As a strategy to come up with the best solution, the team has undertaken an evolutionary approach where it built Hydra on top of available open-source technology, that has gone through the test of time — a successful strategy used by some of the current biggest blockchains (e.g Bitcoin Cash, Litecoin, Qtum and many more).
The philosophy behind Hydra is to implement critical economic features while utilizing proven technology for data transmission. Hydra is a permissionless, open-source, proof-of-stake blockchain built on top of open-source projects QTUM, Bitcoin, Ethereum, and BlackCoin’s PoV v3, designed by Pavel Vasin. In addition to a number of unique economic features, it stimulates stakers and market participants to contribute to its true decentralized architecture.
Hydra has fixed transaction fees in USD, which are dynamically calculated in Hydra based on market prices. This gives businesses building on-chain predictability and reduces the risk of building a business on the blockchain. It also has a gas royalty feature, which shares 50% of transaction fees with smart contract creators, who build the transactional economy. This allows for a fair incentive structure, making the chain highly attractive for developers.