As reported earlier through a news report on 8th July by coin desk, HDAC Technology, a blockchain company backed by automaker Hyundai has recently announced a partnership with blockchain startup CasperLabs to build and also integrate a customized Proof-of-Stake (PoS) consensus protocol. As reported, the companies signed an MOU on June 28, to indicate advances towards further cooperation.
What is HDAC?
Issuer of this Hyundai-DAC token, HDAC, is looking to change to PoS from the Proof-of-Work protocol. Meanwhile, the business is going to execute CBC-Casper, CasperLabs Correct-By-Construction PoS consensus protocol.
“[These implementations] have consistently encounter some kind of compromise and we believe we do not actually make any compromises and I believe that’s what is appealing to HDAC,” he explained.
Even though the HDAC blockchain in creation, the CasperLabs blockchain does not serve any purpose that is particular yet. The use-cases will be concentrated on troubles According to Manohar.
“Considering that HDAC come in the business and contains a use-case-centric world perspective, HDAC Technology describes quite solvable business issues across provenance, supply chain, and capacity usage,” he explained.
The end of 2019 schedules this blockchain’s evaluation, stated an HDAC representative.
“We’re working hard on creating a new heart. Our testnet will be prepared at the year’s end. We are in need of a strong partner such as CasperLabs to construct a new core that ought to be among the very best on the planet,” the agent said.
On the flip side, the HDAC blockchain along with the CBC-Casper PoS protocol’s evolution can help replace elderly PoW systems, stated Manohar.
“Our purpose is to get efficient strategies and Proof-of-Work is simply not an efficient strategy,” he explained.
Based on CasperLabs, the startup’s protocol will also be contained in a coming Ethereum’s hard disk Serenity that will indicate the migration of Ethereum from a Proof of Function to some Proof of Stake consensus mechanics.