HEX solves problems
HEX aligns incentives, so the more people that participate, the better everyone does! HEX eliminates middlemen. Users can transform Ethereum directly into HEX. HEX helps the small guys by penalizing Bitcoin whales. HEX gives early claimers get bonuses and late claimers penalties. HEX Pays bonuses to referrers and those referred. HEX pays the unclaimed coins, late claim penalties and interest to those who stake their HEX. Longer and larger stakes get more shares and the price per share only increases.
You don't need to understand most of the things on this page. If you love details and understanding things very deeply, this is the place for you.
- HEX is a hybrid proof of work(POW) and proof of stake(POS) system. Stakers are paid handsomely in HEX while miners can be paid just pennies in ETH to perform your HEX transaction.
- HEX conforms to the ERC20 standard to maximize interoperability and security. Every HEX consists of 100,000,000 Hearts (1 with 8 zeroes or 100 Million.) Which is funny because when you stake, you have "staked Hearts."
- Hardware wallet support: Trezor and Ledger are integrated with both MetaMask (for HEX and ETH) and Electrum (for Bitcoin.)
- FreeClaiming is totally secure. Generating signatures is a standard feature in Bitcoin and can be done totally offline. Electrum is a great Bitcoin wallet. If you use a trezor or ledger hardware wallet, you use it through Electrum which is a handy way to generate your BTC FreeClaim signature if the software you're using doesn't have the feature. Your private keys stay safe inside your hardware device this way.
- If you really love anonymity you can claim each BTC address to a new ETH address over TOR or other proxy.
- HEX is easily extensible because smart contracts can built on top of it or reference it.
- HEX works with distributed exchanges and atomic swaps easily.
Kyle Bahr wrote an explanation of the system, code and how it works. It is considered the HEX whitepaper.
HEX might be the first coin to ever have two independent security audits. HEX even has a third audit by a mathematician on HEX's economics. Chainsecurity.com and CoinFabrik.com are among the top contract auditors in the world. They need their language simplified for public consumption and some other small things. ChainSecurity's will be released later as it's more complex. Take a look: HEX security audit by CoinFabrik.com | HEX Economics Audit by CoinFabrik.com
Stakers get rich on day 353
Around 12 million or more of the 18 million total BTC worth of HEX claims will be given to the stakers on day 353! And! It gets multiplied by the Viral and CriticalMass adoption bonus multipliers which can increase it up to 3x! Stakers get paid by shares, and the share price only goes up, so staking earlier, longer and larger is better. As of 9/29/2019:
- Only about 12.6M BTC of the 18M total bitcoin could claim because MultiSig can't claim (most exchanges), and GoxMeNot, etc.
- What's left gets hammered with SillyWhalePenalties since 42% of Bitcoin is held in addresses of over 1,000BTC. See Bitcoin Rich List.
- 2.7M BTC in addresses over 10,000BTC pay their 75% penalty to stakers. That's 2M BTC worth.
- Roughly 4.8M BTC is in the range of 1k-10k BTC addresses, and gets hit with 50%-75% penalties they pay to stakers, let's estimate it at 62.5%, so 3M BTC worth.
So we're already down to 7.6M BTC of claims effectively. But wait, there's more.
- 4M BTC is thought to be lost, 1M BTC is thought to be Satoshi's (likely deceased.)
- LateClaims hits for 2% of their possible claim every week they don’t claim.
The moral of the story is that Stakers will multiply their HEX stacks on day 353 when all these bonuses get paid to them. About 2/3 the Bitcoin supply worth of claims or more.
Bitcoin has several different address types. The majority of bitcoin is held in addresses that can be used to FreeClaim HEX. Some Bitcoin address types cannot FreeClaim HEX. 66.3% of BTC is in addresses starting with 1. 8.69% are in addresses starting with 3 or BC1 of type: P2SH or BC1 wrapped P2WPKH. Most exchanges and whales/institutions use multisig, which is not supported. HEX gives the common man a chance and pays the Stakers all the coins that can't or don't claim!
HEX Launch Phase Timing
|Addresses starting with 1: P2PKH. Holds 10 Million BTC (56.5%)||P2PKH chart|
|Addresses starting with 1: P2PK. Holds 1.76 Million BTC (9.8%)||P2PK chart|
|Segwit: Addresses starting with BC1: P2WPKH. Holds 333k BTC (1.8%)||P2WPKH stats|
|Segwit: Addresses starting with 3: P2SH-wrapped P2WPKH. If you click the link to the right, this is teal on the chart, and some portion of the green (unspent.) You can't know what the script is until it's spent from. Which would, on this chart, turn some of that green into other colors of known types. 3.6M BTC (20%) is of unspent / unknown P2SH type. You would have to guess how much of that turns out to be the P2WPKH type of P2SH which HEX supports. 872k BTC (5%) is known supported P2WPKH P2SH type.||P2SH stats|
Nothing else is supported. For instance, multisig is not supported. If you want to research Bitcoin's very complicated address system: Bitcoin address guide