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henbbo
Ecosystem
HNBB:
henbbo
HNBB Network is a Proof-of-Stake blockchain with smart contract support. It is a decentralized development platform designed to provide an ideal environment for DApps (decentralized applications). When developing the infrastructure of its own currency, Henbbo aims to minimize the limitations that exist in competing systems (such as low throughput, low speed, and poor cross-compatibility).
The Henbbo Ecosystem is primarily focused on creating an economically sustainable HNBB token, the native token of the network. The token's design features also allow for the most efficient implementation of all the advantages of its protocol.
The HNBB blockchain incorporates a range of innovations to enhance scalability and reduce costs for developers and end-users. It utilizes sharding for maximum efficiency, and it is governed by holders of its own HNBB token. It has an open-source code, which allows anyone interested to contribute to its development.
HNBB also interacts with Ethereum through a reliable bridge that enables the transfer of assets such as ERC20 tokens and NFTs between Ethereum and HNBB. This technology also has the capability to interact with smart contracts and DApps on both sides.
HNBB has a convenient account system and access keys.
Regular users can access DApps built on HNBB using their familiar registration process, and they may not even realize that they are interacting with a blockchain. This helps developers reach a wider audience and reduces barriers for those already accustomed to using DApps.
The HNBB network architecture uses sharding mechanism. Instead of creating multiple sidechains, the HNBB chains are modeled as a single blockchain. This means that each HNBB block contains snapshots of transactions happening on each segment of another chain.
Tokenomics
HNBB:
HNBB is its own cryptocurrency with several different use cases. Being the native currency, it ensures network security, serves as a unit of account and medium of exchange for native resources and third-party applications. The coin can also act as a store of value used by individuals as well as contracts and DeFi applications (decentralized finance).
The HNBB tokenomics is designed to make the network secure and cost-effective even as it scales.
The HNBB token serves four main functions in the protocol:
Transaction fees.
Applications and accounts deployed on the HNBB network must pay two types of fees:/p>
The amount of space in each block is limited, and users pay to include their transactions in a block. If the blocks become congested and the fees are too high, the network dynamically increases its throughput by adding more shards, ensuring relatively stable transaction prices.
Additionally, each transaction incurs a fee proportional to its volume. The fee scale is differential and significantly lower than in other similar blockchains.
Network rewards.
Application developers receive a share of the protocol's income, which is generated from transaction fees and smart contract charges. This income is distributed to developers in the form of HNBB tokens.
Furthermore, validators receive token rewards for each block they produce for maintaining network operations. The amount of the reward is proportional to the amount of staked tokens the validator has in their pool.
They can choose to keep a portion of these tokens and distribute the rest to delegators.
Speed and security.
HNBB employs the Proof-of-Stake consensus. This means that each network block is approved only when a sufficient number of validators agree that each transaction in the block has been executed correctly. Validators run the hardware that effectively manages the network, but each validator is supported by a Staking Pool. Token holders from across the ecosystem can delegate their tokens to any of these pools.
When validators vote to approve blocks, their votes are weighted based on how many tokens they have in the Staking Pools. This ensures a high level of network security. Token holders can stake their tokens with validators to uphold the principles of decentralization and network stability. In exchange for their contribution, incentivizing rewards are distributed among validators and stakers.
Financial Distribution
HNBB:
HNBB:
Ecosystem6%
Operations9%
Advisors7%
Core Contributors13%
Users of the Henbbo Platform (airdrop)16%
Investors14%
Foundation21%
Team5%
Marketing5.5%
Governance
The HNBB token facilitates protocol governance. Token holders have the ability to submit management proposals and participate in network voting. Only HNBB tokens held in staking can participate in this process. Voting power is proportional to the stake, so the number of HNBB shares determines their relative influence on the decision.
HNBB is currently working on implementing support for the Ethereum Virtual Machine (EVM)
The software stack that Ethereum uses to run DApps. Once completed, developers will be able to deploy their Ethereum applications on HNBB with minimal modifications. This will make the HNBB ecosystem even more versatile, attracting additional users.
Thanks to scalability and intelligent tokenomics, even with a large number of users on the network, transaction fees and speed will remain at approximately the same level.
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