Hicoin is a global currency that lets you send money to anyone, anywhere, anytime. Sending and accepting money is virtually free, lightning fast and insanely easy. HiCoin uses Proof-of-stake which replaces proof-of-work to provide most of the network security. Under this hybrid design proof-of-work mainly provides initial minting and is largely non-essential in the long run. Security level of the network is not dependent on energy consumption in the long term thus providing an energy efficient and more cost-competitive peer-to-peer crypto-currency. Proof-of stake is based on coin age and generated by each node via a hashing scheme bearing similarity to Bitcoin’s but over limited search space. Block chain history and transaction settlement are further protected by a centrally broadcasted checkpoint mechanism.
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