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HEAT

What is HEAT?

HEAT is an abbreviation for Heuristically Enhanced Asynchronous Transaction Ledger that adopts a new way of structuring cryptocurrency and peer2peer decentralized blockchains.  HEAT also features a decentralized exchange and native coin that can be traded in the third party exchanges.

HEAT is a Helsinki based platform created in 2016 by a cryptographic and blockchain developer referred to as Dennis de Klerk.

Dennis is a programmer since 1999 and has been involved in major cryptocurrency projects such as FIMK development and NXT client improvement. Therefore, what exactly is HEAT?

A closer look at HEAT

HEAT Ledger is a company based in Finland that describes itself as the third-generation cryptocurrency platform.

The company considers its lead product, HEAT, as a third generation cryptocurrency platform. The first generation blockchain included platforms such as Litecoin and Bitcoin whose functions were pegged mainly to sending value on a peer2peer basis.

Then the second generation cryptocurrencies such as Ethereum came a few years after Bitcoin was launched. These are cryptocurrencies that ushered in smart contracts that allowed businesses to include operational logic in their digital assets.

HEAT touts itself as the third-generation cryptocurrency that will provide seamless integration and operation of all cryptocurrencies as ecosystems. HEAT promises binary blockchain, multi-sig monetary forms, adaptable crowdfunding capabilities, and boundless adaptability.

The HEAT coin performance in the market

The price of the native coin, HEAT coin, started at $0.06 in early in July 2016 and remained within the range of $0.08 until April 2017. Between April 2017 and close of June, the price rose to $0.5 before sliding to $0.19 in November.

In December 2017, the price of HEAT coin grew steadily and reached a high of $2.15 in January 8th, 2018. This was approximately 3400% growth on the entry price. However, the growth was short lived.

By 19th January 2018, the value of HEAT coin had dropped from the top to $0.6. But the drop did not stop there. The value continued on a downward trend and settled at the range of $0.03 to $0.02 in the third quarter of 2018.

Though the community is optimistic that the value will finally take an upward turn, those who had invested in the system were counting losses by the third quarter of 2018.

It will be interesting to observe how the price of HEAT coin performs in the highly competitive network.

 

What is the problem that HEAT Solves?

  • Poor scalability

While the blockchain niche might look like it is advancing well especially with the fast-growing number of cryptocurrencies, the reality is that it is chocking under its design.

The very design of cryptocurrencies that require all or most nodes to sign transactions has made it very difficult to scale.

If you take a closer look at the top cryptocurrencies and compare them with industry leaders, a sharp contrast is manifested. For example, Bitcoin can only support seven transactions every second while Litecoin can only handle 60n transactions/ second.

When these rates are compared to the industry leaders such as Visa that can handle over 20,000 transactions every second, it implies that the blockchain systems are limping. This is the gap that HEAT comes to solve.

  • Difficulty in cross-chain operations

Though blockchain networks are very effective in pulling down the cost of sending funds because they are peer2peer, sending value between them is very hard.

For example, if a person in the Bitcoin network wants to send value to another in the Ethereum system, he will be required to join the two networks.

The sender might also be required to use exchange services to convert the coins to another one. The concept of cross-chain operations is very difficult because the platforms have been developed with different objectives. HEAT targets to make this cross-chain operation a reality.

  • Poor adoption of the blockchain niche

Every time that people see a new token announced, what runs in their minds is the complex programming underlying the process. For businesses that have fundraising needs, it is very difficult to imagine that they can issue own tokens.

Heat is designed as a complete platform to help make blockchain application at all levels a reality. Whether you only want to join a blockchain network for investment or target to issue tokens through an ICO, HEAT ledger wants to make the process easy.

How does HEAT solve the problem?

HEAT platform was designed to make the entire blockchain easily match to the next level. The founder and its development team adopted the following features and strategies to address the above problems.

The HEAT ledger ecosystem

This is probably the most notable solution adopted by HEAT to address the issues identified above. The target of the ecosystem is to bring all the parties together and make it easy for them to work as a unit.

The system combines the best features of the second generation cryptocurrencies to create a new platform that can cater for all cryptocurrencies. HEAT no longer looks at itself as a single unit. Instead, it targets to facilitate all other blockchains to move to the next level.

The HEAT system takes proof of stake (PoS) to the next level by introducing a new protocol referred to as proof of quality.  Under the new proof of quality protocol, nodes are rewarded arbitrarily at regular intervals.

HEAT employs a completely decentralized approach to ensure that all the decisions on its system are made by users in the system. From creating new blocks to voting on new applications adoption, everything is decided by the nodes on the system. Here are the main features of the HEAT ecosystem that help to further address problems in the blockchain niche:

  • The A2A exchange: This is a decentralized exchange that targets to help users trade directly without going through the standard exchanges. It also allows users to crowdfund.
  • HEAT multi-mode: This is the main HEAT core created in different modes to help serve different clients. Whether you want to use HEAT for a business or individual needs, simply select the right mode. You can opt for the downloadable thin client, hub server or even a custom hub.
  • Real-time multiplication layer: This feature employs occasion-based and configurable occasion sink mechanism when HEAT is run together with MySQL database server.
  • Multi-account: This feature is designed to help users on the HEAT system to access the private keys of different cryptocurrency blockchains with just a click of a mouse. This means that you have one account but access to different blockchains. Therefore, exchanging the tokens of various platforms using the A2A exchange is as simple as a mouse click.

What makes HEAT better than it’s competitors?

The fast-growing blockchain niche has resulted in very high competition between individual networks. Here are the main things that make HEAT better than competitors:

  • The HEAT platform is designed to support many cryptocurrencies. This implies that other cryptocurrency users are likely to find meaning in HEAT and join it for benefits such as using the decentralized exchange.
  • The HEAT platform has provided users with a reliable way to extend blockchain use by customizing it to address their own needs. This implies that it is not rigid like other blockchains such as Bitcoin whose applications are standard and rarely fit outside the original model.
  • HEAT provides for an easy to update and grow model which means that users can expect new features as the blockchain industries continue advancing. This sets the HEAT system apart from other systems such as Bitcoin that have proven very difficult to introduce changes.
  • The platform has managed to beat most of the cryptocurrencies such as Bitcoin Cash and Ethereum on scalability by providing an infinite capability to scale. For example, the Off-Heap Memory Mapped Binary Files can help to give a high transaction rate of up to 1000 transactions per second.

For people who want to use different programs that can help their systems operate fast, HAET allows them to customize the system easily. For those with businesses, HEAT is preferable because clients can be cleared faster without waiting on the queue.

  • HEAT operates as a completely decentralized platform. This implies that it is run by nodes spread in the globe without a centralized point of failure. They also help to secure the network and prevent the danger of 51% attack.

How can HEAT be categorized?

HEAT is a third generation cryptocurrency platform that has provided a viable bridge for developers, businesses, and communities to intensify the application of decentralized systems. By simplifying most of the blockchain operations and allowing entities to customize them, the community only has one expectation; faster growth of the crypto niche.

Despite this, HEAT has received some criticism for being overambitious. While the development team has done very well to dream big, the mandate is being considered to be rather broad. This is one of the reasons why investors are yet to put a lot of support for it. Indeed, value of the native HEAT coin was on a backward slide between January and the third quarter of 2018.

What is HEAT’s vision on Security?

The vision of HEAT on security is to become the most advanced blockchain platform that can help all the interested parties to move to the next generation cryptocurrencies with ease. To achieve this security vision, the HEAT development team employed the following features:

  • Full decentralization and even distribution of coins to prevent the danger of 51% attack. The nodes spread in the system are used to ensure that there is no single point of failure like in the centralized systems.
  • The development team is very aggressive in reviewing the network and closing the gaps to prevent attacks. This is done through regular updates and review of both HEAT and other networks to identify and prevent attacks.
  • The platform employs advanced encryption to ensure that all user details are kept private and secure from third party seizures. This implies that even when miners follow back the public address for confirmations, they cannot pull out your details. Instead, they can only check balance to confirm you have ample funds to send.

Examples of HEAT’s use cases/ applications

As a third generation cryptocurrency platform, the HEAT development team has been working harder to deliver more use cases for not individuals and businesses. Here are some of these use cases:

  • Use HEAT Ledger to create and issue tokens

HEAT Ledger provides businesses with a reasonable and straightforward platform for accessing and creating tokens. Whether you have been thinking of raising additional funds for development or wondering about the magic used to create tokens; the secret has been unveiled.

Your business can also issue tokens and make a mark in the fast unfolding blockchain industry. The process is simplified so that even those without technical expertise can see their goal of issuing tokens become a reality. If the conventional financial services providers have declined to fund your initiative, it is time to think of issuing tokens.

  • HEAT as a platform for decentralized exchange

The process of going through a centralized exchange to change HEAT coins or other digital assets is complex and inconveniencing. However, the HEAT platform has an inbuilt decentralized exchange that allows users to exchange value without going through the centralized exchanges. The process is simple, direct and does not compromise the user’s anonymity.

  • Use HEAT coin to trade in the exchanges

HEAT coin, like other cryptocurrencies, can be traded in the markets. This means that you can pair it with other digital coins such as Bitcoin and trade it depending on the prevailing forces of demand and supply. Remember that the platform will require that you join the preferred exchange that lists HEAT coin, sign for an account, and pay the required transaction fee.

  • Use HEAT ledger as your wallet

On June 5th, HEAT released the Ethereum Heatwallet that allows users to store all ERC20 tokens. The wallet allows users to see Ethereum and transaction history of ETH addresses. It also allows the user to import seeds and store them on preferred devices.

  • Use HEAT to pay for products and services in shops and  stores that support it

As more stores continue supporting blockchain technology, it is becoming easier to pay for services and products using coins such as HEAT token. The heat platform makes buying with the digital coin simple because you can easily exchange the coin if only a different cryptocurrency is supported.

https://heatledger.com/HEATWhitepaper.pdf

https://heatledger.com/

https://heatledger.com/#

https://coincheckup.com/coins/heat-ledger/charts

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FoldingCoin

What is FoldingCoin?

Blockchain technology has been described as the ultimate method with the potential to spur growth in every sector of the globe.

When Bitcoin was unveiled, its applications were largely directed at facilitating peer2peer payments across the globe.

Now, newer blockchains are targeted at other areas to extend the blockchain’s use. One such cryptocurrency network is the FoldingCoin.

FoldingCoin is a cryptocurrency designed to help with medical research

FoldingCoin is a cryptocurrency and a blockchain based reward system implemented as part of Stanford University Folding@Home. The project allows remote users to contribute their unused computing power to run computations for Stanford research about protein folding and its use in combating degenerative diseases.

This project has provided a new view on cryptocurrencies by demonstrating that they can be used for a noble cause.

Since inception, many administrations had developed a negative perception about cryptocurrencies with some such as China resulting in extreme measures like banning their trading. FoldingCoin is out to change this perception.

  • FoldingCoin performance in the market

In the markets, the performance of the native coin, FoldingCoin, has been impressive. It started in mid-2014 at $0.0004 before climbing by 800% to $0.0039 a week later. Then, the price dropped to $0.00016 early in November 2014 and traded below $0.002 until April 2017.

Starting from May 2017, the price rose steadily to hit a peak of $0.03. This was a huge growth of about 7400% from the starting price in 2014. But the growth did not last. It dropped in the subsequent months to reach a low of $0.008 early in November.

The biggest price growth was recorded in December 2017 and January 2018. On January 7th, 2018, the price shot to the highest point of $0.1. This was a growth of about 24,900% from the starting point and the highest in the FoldingCoin’s history.

After the good performance reported in early January, the price took a downward turn and stabilized around $0.002 in the third quarter of 2018. The community is very optimistic that the price will finally take an upward turn because of its association with a reputable institution.

What is the problem that FoldingCoin Solves?

As the blockchain industry continues growing, new platforms that support different sectors have started joining the market.

The new platforms are designed to help address the issues identified in the previous blockchains and specific issues in the society. Here are some of the problems that FoldingCoin solves.

  • Poor adoption of blockchain technology in non-financial sectors

From afar, the blockchain industry might appear to be flourishing. This is the perception that many people have especially when they hear of a large number of digital coins that are in excess of 1600 in the market.

However, a closer look at the blockchain niche reflects a different picture. The industry has slowed down as uncertainty sets in.

The uptake has slowed down as people become more analytical about crypto networks. The recent attacks and losses on blockchain niches have especially made people to rethink their commitment to joining the industry.

FoldingCoin targets to redefine this analogy and attract more people to join the niche. It targets to demonstrate that the blockchain can be used effectively in the healthy sector.

  • The complexity involved in owning digital currencies

The process of owning digital coins is very complex. If you prefer a specific coin, the method of getting the token to the digital wallet is very complex. One of the means of acquiring digital coins is through mining.

Mining is complicated because of the technical requirements for expensive equipment and associated cost of energy. The other method of owning digital coins is buying through digital exchanges. These are trading platforms that operate like forex exchanges but deal with digital coins.

To buy coins from the exchanges, you are required to join the exchanges, open a trading account, and verify with personal details. The biggest issue with the exchanges is that they are very risky. Every attack and significant losses in the blockchain niche is likely to have taken place in the exchanges.

Recently in January 2018, Coincheck was attacked and over $520 million worth of altcoins lost. Other trading platforms that have suffered losses from attacks in the past include Youbit, Poloniex, and Mt. Gox.

  • The negative image of cryptocurrencies in the society

Cryptocurrencies received very negative publicity starting from 2009 when Satoshi Nakamoto launched Bitcoin. The administrations feel that cryptocurrencies are out to usurp their powers and render governance impossible.

From the United States to Russia, the administrations have expressed their reservations about digital coins. In the EU, the EU Commission has indicated that cryptocurrencies raise the risk of total loss, are highly volatile, and lack consumer protection.

In China, the administration has been very harsh towards cryptocurrencies. In the third quarter of 2017, the country blocked ICOs by indicating that most of them are scams. Now, it is blocking exchanges including the international exchanges from accessing the local market.

How does FoldingCoin solve the problem?

When FoldingCoin platform was created, the Stanford University wanted to demonstrate that blockchain can become a solution to many issues facing the society, especially in the blockchain niche. Here is a demonstration of how FoldingCoin addresses the problems.

  • Easy onboarding

To make joining and using the blockchain technology easy and direct, the FoldingCoin project has an easy onboarding process. To become part of the project, you only need to visit the FoldingCoin site and download the application.

Once installed on your computer, the application guides you to the setup. This implies that even if you are not a computing expert, the setup is easy and direct. Therefore, if you have some extra computing power, consider lending it to Stanford for medical research for pay.

  • The direct motivation of the involved community

Every time that people think about the process of joining the blockchain community, they are interested in knowing about the returns. Many want to know the coins they will be rewarded with and the expected growth in the market over time.

The Stanford FoldingCoin project allows users to benefit from the project in two ways. One, they can lend their computing power for a reward. The computing power helps to process research of diseases such as Parkinson and cancer.

Users can also trade the coins they get for being part of the FoldingCoin. This involves trading the coins for a profit. You can pair them with other coins in the market such as XRP and Bitcoin and trade in the forex markets.

  • The connection to a noble medical course

The main goal of FoldingCoin is not to make people rich overnight. Rather, it targets to link them to a noble medical course. Many people especially those who have seen older people suffer from diseases like Alzheimer easily come onboard to support the development.

Indeed, people who join the network cannot make much by owning the coins. Rather, the platform has opened the doors for more people to become part of the research system that will help to make the society a better place for all.

What makes FoldingCoin better than it’s competitors?

By 2018, the number of cryptocurrencies that had entered the market was more than 1600. Because most of them target the same niche, the competition has become very stiff. Here are some of the things that make FoldingCoin better than its competitors:

  • FoldingCoin is targeted at a very noble cause: Even though some people have had their reservations for joining cryptocurrencies, FoldingCoin has become a special attraction because it is associated with a noble cause. From people who understand the degenerative conditions to learners and the entire medical community, no one wants to be left behind.
  • It is a very easy to use platform for all people: Unlike other platforms that require users to follow complicated setups, FoldingCoin is as simple as downloading and installing in home computers. This makes it easy for any person with a computer connected to the internet to have an opportunity to become part of the FoldingCoin system.
  • The FoldingCoin has been in the market for long enough, and its systems are considered stable: One of the main indicators that people use to gauge the effectiveness of a cryptocurrency platform is the length of time it has been in operation. The FoldingCoin is considered stable because it has been in operation since 2014. This implies that most of its features have been tested and proven to work.
  • It is associated with a reputable institution: The fact that FoldingCoin is associated with a reputable institution, Stanford University, has helped to give it some legitimacy. This means that people joining the platform are sure it is not a scam.

How can FoldingCoin be categorized?

FoldingCoin is a unique blockchain platform targeted at helping to redefine and take the crypto niche top all sectors of the community. The simple and easy to use design has helped more people to easily join and enjoy the benefits of the fast-growing blockchain industry.

People have developed extra confidence in the FoldingCoin platform because of its association with a reputable university and commitment to a noble cause. These considerations have made the community to believe that its value could ultimately grow and surpass even the top coins in the market today.

What is FoldingCoin’s vision on Security?

The FoldingCoin’s vision of security is providing people with an opportunity to own the native coin and participate in the medical research securely. The FoldingCoin development team targets to achieve this through complete decentralization, advanced encryption, and regular updates to close vulnerabilities.

Examples of FoldingCoin’s use cases/ applications.

FoldingCoin platform was created with the primary focus being to support medical research at Stanford University. However, its applications have grown over time and can be used in the following cases:

  • Use FoldingCoin to trade in the markets: Like other digital assets, FoldingCoin can be traded in the markets. This implies that you can pair it with others such as XRP and Loopring and trade for a profit. Remember that such trading requires a comprehensive understanding of the markets to make the right moves.
  • Use FoldingCoin as a platform for saving funds: If you have some funds to save, FoldingCoin is a good option as opposed to simply stacking in a bank. As a decentralized platform, it implies that there is no single point of failure and people who buy the coins can relax without worrying of third-party seizures. You could even enjoy some ROI (return on investment) when the value of the coin goes up.
  • A coin for paying products and services: Individuals and traders are now starting to accept digital coins such as FoldingCoin because they are considered more effective in facilitating payments. As a decentralized system, it implies that people in the FoldingCoin platform can send value for payment fast and at a lower rate than if they use the standard financial services.

You only need to identify the platform that supports FoldingCoin for its payment. Note that even if only a different coin is supported, you can still purchase by converting the FoldingCoin to the supported token.

  • A good way to support medical research: The primary target of FoldingCoin is contributing to medical research. Therefore, many people join the platform to become part of Stanford University’s medical research group. It is a unique way to make a personal contribution to get felt in the medical sector.
  • Use the native coin to pay for taxes in jurisdictions that support it: If you reside in jurisdictions that support digital currencies such as Singapore, Switzerland, and some States in the US, it might be possible to pay for government services with digital tokens. A good example is Arizona.

After passing the HB 1091 in April 2018, Arizona allows people to pay taxes with digital coins such as FoldingCoin. The new law requires the tax department to convert the token to USD and credit to the tax payer’s account.

https://foldingcoin.net/

https://coincheckup.com/coins/foldingcoin/

https://www.reddit.com/r/FoldingCoin/comments/6g2eok/imported_idea_from_the_past/

https://en.bitcoinwiki.org/wiki/FoldingCoin