Hydrogen (HYDRO)

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The Hydrogen is a place that allows enterprises and developers globally to prototype, build, test, and deploy lots of types of financial technology applications and products.

Joke Name

Hydrogen = Water Token

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (HYDRO)

Coin or Token

Circulating Supply (4 Billion)

Total Supply (11 Billion)

Market Cap Ranking

Review

The Hydrogen platform allows enterprises and developers globally to prototype, build, test, and deploy sophisticated financial technology applications and products. Hydro is a new component that brings blockchain-based capabilities to the Hydrogen ecosystem and beyond. Hydro enables new and existing private systems to seamlessly integrate and leverage the dynamics of a public blockchain for functional use cases surrounding application security, identity management, document management, transaction processing, and artificial intelligence. The Hydro technology stack broadly allows for the establishment of hybrid systems, which are fundamentally private but augmented with the advantages of a public ledger to achieve greater decentralization, transparency, and immutability.

Key Features:

  • Raindrop
  • Snowflake
  • Ice

Raindrop

Raindrop is an authentication protocol which vastly improves upon current 2FA standards with decentralized public blockchain security for logins, transactions, and payments. Built on top of the Hydro public ledger is a blockchain-based authentication service, called Raindrop. This offers a layer of security that helps verify if an access request is coming from an appropriate source. Hydro Raindrop offers a way to enhance off-chain authentication protocols by incorporating blockchain mechanics as a component of a single- or multi-factor authentication process. This can add a useful layer of security to help thwart system breaches and data compromises. Before examining technical aspects of Raindrop, let’s first take a look at the problem it is trying to solve.

Snowflake

Snowflake builds an extensible identity following the ERC 1484 digital identity standard. Each end-user of a snowflake-powered application is minted a globally unique Ethereim Identification Number which connects to all of their owned Ethereum addresses and ties the user to arbitrarily formatted data. Snowflake handles the complexities of identity management – trustlessly connecting to new user devices, allowing applications to pay gas costs on behalf of the user, and allowing a user to interact with multiple applications and instances of identity with a common user experience. Snowflake identities must be “minted.” Each minted Snowflake acts as a base identity layer that can be interacted with and extended.

Ice

Hydro Ice – decentralized document management for financial services. Why call it Ice? The public blockchain can act to “freeze” in time important documents, preserving them forever. The Ethereum network has experienced 100% uptime since its launch in July 2015. As of the time of this writing, there are over 13,000 Ethereum nodes, and the network is highly decentralized. When this infrastructure is combined with the protocols Hydrogen has already built on top of the Ethereum network, Raindrop and Snowflake, the Ice protocol can create a secure and decentralized way to create, sign, store, and verify financial documents.

Problems:

The Hydrogen project faces some stiff competition from centralized projects. For example, their Raindrop 2FA directly competes with Google Authenticator which is a service tied to all of Google’s features and as you could imagine, it will probably be pretty hard for Hydrogen to position itself on the market. Also, many of its features are still in development so it’s far from a complete project.

Conclusion:

The Hydrogen project has some overall solid fundamentals. There was no questionable ICO and pretty much everything about the projects checks out. We’ll be waiting to see what the future has in store for Hydrogen.

Pros

  • Solid Fundamentals
  • Strong Team

Cons

  • No direct backing (asset, profits, commodity)
  • Competition
  • Many features in development