The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Can a Layer 2 Protocol Put Exchanges Out of Business?

by Press Release
May 1, 2020
in Industry Announcements


hybrix releases their white paper next week
hybrix, a young Dutch startup based in Amsterdam, is releasing a layer 2 protocol that could make centralized exchanges all but obsolete.

Since its genesis, hybrix championed the notion of private ownership of one’s assets and freedom of transactions without third parties – the very foundations of Bitcoin as a peer-to-peer payment system. hybrix takes it a step further, creating a meta-ledger that can allow asset swaps between multiple blockchains.

The team behind hybrix already had some major successes. In 2014, they crowdfunded Internet of Coins project (no ‘the’). They also released a series of open-source tools for crypto developers and adopters, including a decentralized wallet (2017), a multi-block explorer (2019), and a powerful API and library. Their solutions won multiple awards (NLNet, ISOC) and research grants (SIDN).

In May 2020, the group is releasing its newest white paper detailing hybrix meta-layer protocol. It leverages the underlying ledger’s infrastructure and governance to enable secure value swaps between blockchains through zero-value transactions. Also in May, they will list their first cross-ledger, multi-chain token, the hy token, which will enable direct asset swaps and incentivize the new network of Validators of the meta-layer, through Validation as a Service (VAAS).

So far, the hybrix platform supports 31 different blockchains and 347 tokens, and as the founders explain, anyone can add more tokens using the hybrix open-source framework. Developers and projects can also launch their own cross-ledger tokens.

The barriers of entry are purposely low. The underlying ledgers need only to be immutable and public with verifiable transactions that have a unique ID, source and target addresses, and an attachment field for data storage such as the op_return. That’s where the metadata goes.

Another strong side of hybrix is their attention to user design and intuitive implementation.

“The hard part lies in making something a polished product. The first 80% is quickly made, but the hard part is finishing the final 20%,” writes the hybrix co-founder, Joachim de Koning, in a medium post about their multi-block explorer, which his team built in only three weeks.

It was a test for the hybrix back-end. Now, this simple web-based tool (image) enables anyone to check any public blockchain transaction history in seconds.

Multi-chain transaction history browser powered by hybrix

From front-end simplicity to an intuitive back-end, the group makes it a priority to leave only the essential functions and test everything. All this effort is to entice the users and help developers of all levels join and start building. Developers not specializing in blockchain need to be able to keep track, which is why the team developed modular, intuitive, and lightweight stack, the founders told Blockrock.

“Currently (blockchain technology) is still too difficult to understand. It should be much closer to the common person, much closer to the common developers,” reiterates Joachim de Koning.

The co-founder of hybrix, was an early Litecoin miner and a blockchain developer. He remembers the times when it was easy to store tokens on one’s hard drive. The subsequent boom in cryptocurrencies and tokens made it difficult to store, manage, and exchange value without the help of centralized custodians like crypto exchanges.

Since those early days, Joachim was devising solutions to simplify token management and asset transfer while upholding values introduced by the original Bitcoin white paper, the principles of determinism and decentralization. The newly launched hybrix token protocol is the perfect addition to atomic swaps and decentralized exchanges, and could one day do away with centralized, third-party alternatives altogether.

Luckily for crypto exchanges, hybrix is not focused on getting them out of business just yet. Founder’s key mission is to increase the adoption of DLT through interoperability and helping developers build within the multi-platform ecosystem where they can easily switch between different ledgers and implementations.

Betting on superb user experience, hybrix aims to increase the public adoption of cryptocurrencies without sacrificing freedom of transactions.

Subscribe to their newsletter and receive the hybrix white paper next week!

About hybrix

hybrix is a multi-blockchain platform that leverages the strengths of every individual blockchain –Creating Freedom of Transaction by letting value flow freely across all different ledgers with the first cross-ledger token.

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.


Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

 
ShareTweetShareShare
Submit a Press Release

Industry Announcements

  • Open-Source Blockchain D-Ecosystem Raises $6 Million Ahead of IDO on March 29, 2023
    March 27, 2023
  • Bitget Becomes the First Centralized Exchange To Offer Financial Transparency Through Space and Time
    March 27, 2023
  • OKX Launches Turkish Lira Deposits and Withdrawals
    March 27, 2023
  • Cardano’s Top NFT Marketplace JPG.Store Announces Plans To Empower More Artists Globally
    March 27, 2023
  • Narwhal Finance Secures $1 Million in Seed Funding Led by Animoca Ventures
    March 24, 2023
  • Sports Prediction App Pooky Launches Full Version of Its Play-and-Earn Game
    March 23, 2023
  • StormGain Launches StormGain DEX for User-Friendly Decentralized Crypto Trading
    March 23, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,316.59
$28,316.59
2%
Ethereum
$1,802.53
$1,802.53
3.3%
Cardano
$0.380868
$0.380868
13.46%
XRP
$0.460298
$0.460298
19.52%
Dogecoin
$0.076029
$0.076029
5.81%

Spotlight

  • Crypto Trader Maps Path Forward for Aptos and Chainlink, Predicts Altcoins Will Fly Once Bitcoin Cools Off
    March 25, 2023
  • Owner of Major US Stock Exchange To Launch Crypto Custody Services by June: Report
    March 25, 2023
  • Crypto Whales Pounce on Ethereum Scaling Altcoin, Accumulating 13,310,000 Arbitrum (ARB) After Polygon Rival’s Airdrop
    March 25, 2023
  • Polkadot, Kusama and Cardano Leading Crypto Space in Terms of ‘Notable GitHub Activity’: Santiment
    March 25, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl