Hydra is a permissionless, open-sourced proof-of-stake (POS) blockchain. The blockchain aims to implement critical economic features and use proven technology for data transmission. According to its whitepaper, the blockchain seeks to fix the transaction fees with a unique burning mechanism on the generated transactional economy. The network is built on top of open-source projects, such as Ethereum, BlackCoin’s PoV v3, QTUM, and Bitcoin.

The whitepaper mentions a few problems with Blockchain Economy 2.0 that Hydra seeks to solve. It includes the problem of total supply, which has been overly abused in the blockchain industry. Projects are compared with each other in terms of their total supply. Thus, the term has become more of a marketing component instead of being treated as an actual economic determinant. While as per Hydra’s concept, it is only one of the four critical components, with the other three being node economy degradation over time, rate of supply change, and transactional economy efficiency. Hydra believes that total supply is the direct representation of the actual usage of the chain.

As per the platform’s design, the market determines the total supply as an asset base. The network stimulates community growth and infrastructure, besides protecting against price degradation, given its ability to convert transaction gas into a permanent supply cut. Thus, solving the problem of ‘how’ and ‘when’ to switch a blockchain from an inflation state to a deflation state without high risk.

Some of the key features of the platform include:

HYDRA is the ecosystem’s native digital coin. The coins would be used to carry out transactional activity on-chain and staking. The Stakers receive HYDRA tokens to help secure the network against attacks.

Nikola Alexandrov and Hristo Tenchev are the co-founders of the platform. Nikola and Hristo are also the co-founders of LockTrip.com (a blockchain travel project) and Bitcoin. Nikola has seven years of high-frequency algorithmic trading experience on high liquidity global markets. Others in the team include Florian Pfieffer, Nevena Petrova, Ivan Ivanov, Todor Yalamov, Rosen Krumov, etc.

The platform’s cold launch occurred between October 2020 and December 2020. The token was airdropped to the community between March 2021 and February 2022.

We update our Hydra to GBP currency in real-time. Get the live price of Hydra on Coinbase.

The current market cap of Hydra is £688.157K. A high market cap implies that the asset is highly valued by the market.

The all-time high of Hydra is £38.59. This all-time high is highest price paid for Hydra since it was launched.

Over the last 24 hours, the trading volume of Hydra is £49.642K.

Assets that have a similar market cap to Hydra include QORPO WORLD, Alvara Protocol, AgentLISA, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Hydra is 30 million.