HLC Public Chain Released Significant Progress of Technical Development

  • BY:HALALCHAIN
  • Jul 10, 2019
HLC Public Chain Released Significant Progress of Technical Development

On the evening of July 8th, HLC public chain was starting the first broadcast live roadshows to community members on the Zoom platform after the source code is available on Github. HLC team delivered a speech on topics such as technology progress, business development planning, public chain governance, and answered the concerns of community members in depth.

Abdullah Han, Co-founder of HLC foundation, elaborated the characteristics and the current bottlenecks in the Islamic finance industry and pointed out that the consensus of POW is in line with underlying values behind Islamic finance, and the convergence of blockchain and Islamic finance will boost financial efficiency. HalalChain is the first public blockchain that focuses on serving Muslim countries and regions. By implementing blockchain technology into the Halal supply chain and Islamic financial industry they will help to increase transparency and traceability in Islamic financial products and services, traceability of halal and healthy products, Zakat donations, heritage and property registration, cultural communication, etc. In the near future, HLC aims to scale a decentralized network in conjunction with a unique token economic model that would enhance the dynamics and unleash the full potential of the overall ecosystem.

HLC developers displayed the progress of the technical roadmap, and plans to open the node at the end of July, as well as the mining module will be opened to the public. In order to enable the general public to participate in mining in a fair manner, HLC public chain adopts the cuckoo ring algorithm of anti-ASIC mining machines. Due to the small difference in mining between CPU and GPU, even ordinary users are capable of mining with normal CPU. In addition, in order to reflect the essence of Islamic finance, which is to encourage to participate in the real economy, two layers of mining difficulty settings are added. In light of the spirit of ensuring openness and fairness, it also conforms to the setting of the classic bitcoin of Nakamoto.

As community concerns, HLC public chain governance, and community operation after source code is available on Github, Lawerence, an early angel investor, said HLC economic model and the final batch of the source code will be available in August, it will be released for testing as well. As for new listing, he revealed that after the open source of HLC public chain, HLC will be listed on several tier-1 exchanges to diversify the investor base and access to a variety of liquidity pools.

Meanwhile, the HLC team leader has also made a detail-oriented introduction on HLC wallet, cross-chain, economic model and operation plan, and other relevant technical considerations. The following technical sections and topics will be shared with the community respectively.