Guide to Hybrix: An Open Source Blockchain Platform
Decentralized money systems are a great thing. Hybrix is working to make it easier to make cross-chain transactions, and also increase the level of ease for developers who want to offer multi-chain platforms.
The world of decentralized currencies has come a long way in a little more than a decade, and now there are ways to bring together all the development that has taken place.
With Hybrix applications it will be possible to take advantage of all the existing blockchains that are out there, without having to use a centralized clearinghouse. Simply put, Hybrix will give people the freedom and power to send and receive value at any time, and on any supported blockchain.
Hybrix Cross-chain Solutions
Blockchain is undeniable a breakthrough, and it introduces a new way of storing and exchanging data. These decentralized platforms are far more secured and transparent than traditional ones, and they are immune from the political agenda that many monetary systems have to deal with.
However, as every token basically runs as an independent blockchain, complicated issues arise when you want to combine or compare data saved across multiple chains.
To solve this matter, Hybrix is developing an “HY” token. Each token represents an identical block of a chain and can be used to reconcile data across the entire crypto complex. Attached to the data sector inside a block, each “HY” token is generated to carry that block’s value and its chronological order in the chain.
Tokens then form as bridges that allow transactions to be conducted on either a single chain or multi-ledger systems.
Thanks to that, technological power from a multitude of independent blockchains is gathered and unified for Hybrix’s users. Multiple chain transactions become feasible and users are able to track down every piece of data about their tokens.
Adapted Ideas for an Evolving Marketplace
Hybrix is working to make decentralized money more inclusive and easily adaptable to numerous uses. By optimizing the existing layer in each block instead of using other complicated technical methods, Hybrix offers an efficient answer to a challenging situation for developers.
Since Hybrix utilizes existing languages to build its protocol and interface, there’s no need to acquire new coding languages to use its system. Devs can use the tools that they already understand, making the learning curve for developing multi-chain platforms much lower.
The Person Behind the Platform
From the very early days of Bitcoin, Joachim De Koning had the vision to create a new system for cryptocurrency as a whole by leveraging his expertise in both programming and businesses.
Joachim has a deep knowledge of the IT sector and digital money – before Hybrix’s birth, he had created Metasync, a cryptographic designer that supported diverse subjects, either commercial or non-profit organizations. He then founded Internet of Coins, which could be considered as Hybrix’s precursor.
With an enormous passion for blockchain technologies, Joachim was driven to construct a favorable environment that prioritizes freedom and privacy so as to accelerate crypto transfers for everyone. The result of this vision is Hybrix, and it is evolving quickly to meet the needs of the global economy.
Hybrix Has Core Values
Freedom and privacy are extremely important, and Hybrix has integrated these values into the creation and development of its platform. The goal to combine the strength of a multitude of distributed ledgers fits within these ideals and will give people a deeper set of options for holding and transferring value on their terms.
Joachim took the first leap to start the project Internet of Coin and successfully crowdfunded it in 2017. One of the highlights of this achievement was the invention of the cryptocurrency web wallet which adopted agnostic nature and would be open to accepting any chain registration.
Currently, Hybrix has amplified its capacity to adapt 27 major blockchains and more than 400 tokens. It literally breaks down the components of ‘chain’” and creates more space for people to do pretty much of whatever they want.
Since a person can create an order remotely via a web connection or mobile phone to sell/purchase crypto among different ledger systems, there’s no longer a need to have any third party to intervene in the process.
Hybrix is taking the freedom that Bitcoin brought to the financial industry, and erasing the role of third-parties in cross-chain transfers. Hybrix is taking tokens and making it easy to create true P2P transfers, with as little complication as possible.
Remarkable Applications
The team at Hybrix has invented a number of great tools and integrated them into a complete ecosystem. Here is a brief look at all the tools that Hybrix offers.
Web wallet
The Hybrix web wallet is a free decentralized vault where you store your cryptocurrencies. It’s safe, private, and easily accessible. Web wallet supports account login and gives users the ability to place crypto orders from anywhere, either through desktop or mobile devices.
REST API
Hybrix’s REST (Representational State Transfer) is an application protocol that allows users to establish a linkage among agnostic chains through Hybrixd. It enables connection with external libraries and sources and also extracts information, so you can get updates on a Bitcoin balance, transaction record, address validation, and so on.
Blockchain explorer
This is an open-source project utilizing Hybrix API to create a platform where uses can access and track all transactions for the most popular digital currencies. To carry out a search, you just need to choose a token and insert the address/ID of the transaction. The fully detailed results will be displayed on your screen, including transaction time, type, and amount of exchanged coin/cash.
Free open source dev culture
More precisely, this isn’t a specific product, but Hybrix’s free open source codes represent all the efforts that Joachim and his partners have poured into this project. Its achievements are shared with the community, and allow anyone to build on these successes.
What Makes Hybrix a Winner?
- Advanced ideas: The multi-chain approach that Hybrix has taken makes it a platform of the future, and leaves it loads of room to expand over the coming years.
- Ethical: Creating an inclusive, non-profit, and non-restricted project which empowers real practice and coordination. People and organizations will be able to leverage the full power of decentralized blockchains.
- Privacy: Personal data is locked up in your private area without exposure to a third party. Only the owner has the key to access their own data.
Hybrix: The Rundown
There aren’t many companies out there like Hybrix, and the goals the company has set for itself are impressive.
Much like Bitcoin and Ethereum, the fact that Hybrix is allowing the wider community to participate via open-source codes will likely allow it to grow with an industry that is just starting to penetrate the global economy.
Each blockchain has something to offer, and Hybrix is creating ways for apps to use all of them, and remove any third-parties from the transactional process. Blockchain was created to make true P2P transactions a reality, and the design philosophy at Hybrix is in-line with those original goals.
Most people who use money simply don’t understand how the system works, or what happens in the global financial system. With multi-chain platforms that allow app development like Hybrix, the same ease of use that exists in the fiat financial system can be created in the crypto sphere.
The post Guide to Hybrix: An Open Source Blockchain Platform appeared first on Blockonomi.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Nicholas Say, @Khareem Sudlow
