The HLC Foundation, which is committed to the development of Islamic financial public chain, officially announced today that the HLC public chain will be officially open source and invite global technology enthusiasts and eco-collaborators to participate actively from June 30th.
The HLC Foundation today held a press conference in Dubai to explain the technology roadmap and financial innovations of the HLC public chain to decision-makers in financial institutions and blockchain institutions in the Middle East and Muslim countries.
The HLC public chain is based on the current world-leading Block DAG technology development, and the development period before the open source has been going on for 16 months. On February 28, 2019, HLC successfully completed the P2P test based on Blockchain in Xi’an, China. In March, it successfully completed the P2P transmission test based on Block DAG in Shanghai, China.
The global DAG (Directed Acyclic Graph) HLC technical white paper will be officially announced. We will witness HLC’s Block DAG transmission architecture, the UTXO model that pays tribute to Sakamoto’s classic Bitcoin model, and the PoW (proof of work) consensus, Cuckoo algorithm. This open source content also includes a batch of technical papers in the HLC public chain, DAG test results of the public chain and part of the code of the public chain. On July 30th, we will gradually open source content, public chain mining, atomic exchange, wallet and other documents; before August 30, the entire code of the HLC public chain will be announced to the global technology community.
Abdullah Han, co-founder of the HLC Foundation and an Islamic financial expert, said: “The HLC Foundation has clearly defined this public chain as the world’s first public chain focused on Islamic finance. The HLC public chain is determined to carry the chain, transmission and transaction of huge Islamic financial assets of several trillions of dollars in the future. Therefore, it must have bitcoin. The level of security underlying and modern financial-level transaction speeds, Block DAG technology, this core competitiveness meets the dual needs of the security design of the classic blockchain and the high throughput required by modern finance.”
HLC public chain is determined to carry trillions of huge Islamic financial assets in the chain to transmit and trade in the future. Therefore, it must have bitcoin-level security underlying and modern financial-level transaction speed. The core of Block DAG technology Competitiveness meets the dual needs of the safe design of the classic blockchain and the high throughput required by modern finance.
Since February 2019, the development of the HLC public chain has attracted strong attention from the Islamic financial industry. In March, in Manama, the capital of Bahrain, the Islamic bankers in Bahrain and the HLC financial team formally discussed how Bahrain used the HLC to accelerate the development of the Islamic financial capital. In the same month, the Oman National Central Bank began to formally pay attention to the Islamic financial assets of the HLC public chain design. Winding solution. In April, the Saudi Arabia-based International Islamic Development Bank discussed the design of Blockchain crowdfunding with the HLC business team. At the same time, ISDB invited the founders of HLC to participated in the 44th annual meeting of the Islamic Development Bank. Financial decision makers explain the financial security and transaction design of the HLC public chain. In May, the Islamic Financial Services Board(IFSB) officially decided to officially include the HLC Foundation as an observer. IFSB is an institution that is a member of the Islamic World Bank and is the first to invite a blockchain foundation as an observer.
Abdullah Han revealed that the HLC Foundation will create a new name for the public chain and design a LOGO. The program will then be submitted to the global investor and technology community to vote for the new name and logo of the HLC public chain, wallet, and mining pool.
HLC public chain is the world’s first public chain dedicated to serving Muslim countries and regions, applied to Islamic financial products and services, halal product traceability, Zakat donation, property rights registration and other fields. DAG technology based on distributed ledger (directed acyclic graph) is the bottom layer, achieving high throughput transactions under the premise of ensuring security and decentralization, Combining advanced technology with unique scenarios to build an economic ecosystem across Muslim countries.