Hydra Mainnet goes LIVE!
By: Locktrip.Com, Loc Token, Official Blog
Tags: Crypto, Blockchain, Cryptocurrency, Ethereum, Bitcoin

After 2 years of rigorous testing and strong community participation, we are excited to announce that the Hydra Mainnet is now live. Before we go into the details, let’s have a quick look into the main features.

Key Features of Hydra

🔥 100% Burn of Transaction Fees

💎 50% Royalty on Gas for Smart Contract Creators → More Info

📌 Fixed Coin Transaction Fees of $0.20 → More Info

📌 Fixed Token Transaction Fees of $0.50 → More Info

💰 20% Minimum APR Staking Income → Staking Calculator

📈 Up to 540 TPS Elastic Capacity

🔏 EVM Compatible Smart Contract Platform

⚙️ Wallet-Level Scalability → More Info

🗳 Unique Decentralized Governance Protocol

⚖️ 18.5M Starting Supply with unique approach for handling the deflation tipping point. Learn more about this feature in the article below.

A Wonderful Event

You can feel it in the air. The excitement is building up in anticipation of the greatest time of the year. Everyone is rushing around, making final preparations for the big event.

As the preparations come to an end, the hectic fades away and leaves the place for a calm but joyful atmosphere. It is snowing outside. Cinnamon-tea is boiling on the stove.

And then… in a calm and silent moment… it happens!

A node is processing block #1 of Hydra mainnet. The very first block of millions to come — or genesis block, how they call it. A truly historic moment. Other nodes are quickly picking it up and validating the birth of a new blockchain. The explorer fetches the news from the blockchain, indexes the block and announces the news to the World Wide Web!

As part of this block, the first 3,717.18 HYDRA have been born too. At this early state of the chain, the consensus mechanism is still POW (Proof of Work). After all, there are no mature coins to stake yet.

Over a period of 5,000 blocks, the initial supply of 18,585,900 HYDRA were minted at a constant rate of 3,717.18 HYDRA per block. And then, at block number 5,001, something exciting happened.

From one block to another, Hydra transformed itself from proof of work to proof of stake. Some would say it has grown up. From now on, it can sustain itself through staking coins on-chain and thus is no longer dependent on external POW setups.

🎉 Hydra Mainnet is live!

With the launch of mainnet, we have reached the most important milestone for Hydra. For the first time in over 2 years, we can see real HYDRA coins in action, moving around from wallet to wallet and doing their staking thing.

We want to thank all testnet participants for their contributions and for making Hydra not only possible, but also one of the most tested blockchains ever launched!

You can observe Hydra mainnet live through the link below:

The core nodes are all performing stably and we just completed the adjustment of the core Hydra settings through voting.

💥 Ending 2020 with a Bang

Despite the major challenges we all have encountered during the year of 2020, it nevertheless turned out to be our most productive year yet. Not only have we expanded our inventory size and availability from 500,000 to more than 2 million hotels and properties, but we also introduced dozens of major features, developed an array of powerful affiliate tools and started partnering with the biggest brands in the crypto space for marketing.

The launch of Hydra marks a great finale to an already evenful year.

With this milestone, we are opening up a completely new chapter for the project and set the fundament for a powerful decentralized travel database.

Hydra Genesis Release

The first official wallet version for the mainnet has been uploaded! You can download it from our GitHub releases page:

For installation guides and other useful information about the chain, please visit the official website of Hydra.

What is coming up next?

Now that Hydra is running smoothly, we are preparing it for the upcoming migration. Let’s look into a few milestones coming up.

Webwallet Deployment

We have completed the initial deployment of the Hydra webwallet. The webwallet can be used similar to MyEtherWallet as a browser-based wallet application. Through it you can send and receive transactions, create new wallets and even use it for a hardware-wallet application. More info on the latter will be provided in the coming days.

https://webwallet.hydrachain.org/

The wallet will be smoothened out until the swap date, but it is fully functional even now.

Exchange Integrations

We have provided the exchanges HitBTC and Kucoin with the relevant documentation and they have started the integration process for the Hydra chain. Both exchanges will be switching to it and supporting swap. More information about the exact timelines will be provided soon, however we are aiming for mid December to complete the migration.

LOC Token Launch

At the same time we have initiated the work on the LOC token smart contract, which will be deployed on the Hydra chain. Once complete, LOC will become the first token to adopt Hydra.

The new token will have the same supply as the current one on Ethereum and will be swapped in a 1:1 ratio. It will also inherit the same code and maintain its features, which is possible thanks to the Hydra chain supporting the Ethereum Virtual Machine.

Setup of the Token Swap Flow

We are designing an easy and secure swapping process for LOC holders.

Helpful Guides

In addition to the processes above, we also continue to expand the Hydra documentation page, where you can find all the important info you need. New guides about offline wallets, safe staking environments and troubleshooting will be released over the next 2 weeks.

Additional Information

→ Swapping is not possible yet. Please keep your LOC in your Ethereum wallet until further notice (currently targeting mid December)

→ The new LOC token will remain listed on HitBTC and Kucoin

→ The HYDRA coin will be listed on HitBTC as the first exchange

→ HYDRA will be airdropped to LOC holders after the swap (more about the airdrop)

→ Try the staking calculator to calculate your estimated staking rewards

Join the Hydra Telegram Community 👇🏼

Hydra is a truly decentralized POS (proof of stake) blockchain and emerged out of the combination of Bitcoin, Ethereum and Qtum. It unifies the best features of all three chains and carries a unique economic layer on top. This makes Hydra not only cutting-edge technology, but also enables a very strong shared economy of which all parties can benefit fairly.