Hydra is a POS blockchain and emerged out of the combination of Bitcoin, Ethereum and Qtum.
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- What is Hydra?
- Who is the Team behind Hydra?
- How was Hydra Launched?
- How to Stake HYDRA?
- How much can I earn Staking HYDRA?
- Any risks to Staking HYDRA?
Hydra is an open-source Proof-of-Stake blockchain with a unique set of economic features. It packs a unique combination of inflationary as well as deflationary mechanics as part of its economy that work in parallel and let the real adoption define its total supply.
Hydra provides 50% gas royalties to smart contract owners. Developers/Projects receive 50% of the transaction fees whenever their smart contract is executed by a user. This unlocks a unique economy for DEX applications and DAPPs with high transaction volumes that are currently wasting this enormous economic stream.
The Hydra blockchain achieves transactional cost predictability through a stable gas price protocol. The gas price is governed by coin holders through a decentralized voting mechanism and is always set in fiat. An oracle monitors the price of HYDRA on exchanges and adjusts the fee settings dynamically. The result is a fixed price per transaction in USD equivalent, irrespective of the HYDRA rate, thus giving network participants and real-world business applications the stability they need.
Some of the core team members of Hydra include the following:
Nikola Alexandrov – CEO & Co-founder
Hristo Tenchev – Co-founder
Florian Pfeiffer – CCO & Partner
Nevena Petrova – Business Development
Ivan Ivanov – Senior Developer and Team Lead
Todor Yalamov – Senior Engineer
After 2 years of rigorous testing and strong community participation, the Hydra team announced that the Hydra Mainnet went live on December 2, 2020.
Originally in 2018 Hydra was designed as a component of LockTrip (LOC), which was later decided to be unpegged and separated as a standalone project. This essentially means HYDRA is a blockchain that was developed by a team that had a unique practical usage perspective as a DaPP developer first. A perspective that has put the focus on critical economic limitations of existing chains and made it possible for next-generation block economy to be iterated.
Since Hydra chain has been financed and developed by the LockTrip team and community, the distribution of the HYDRA coins will happen to LOC holders proportionally to the amount they hold, over a gradual 12-month process.
Everyone can become a full node in a few clicks and stake HYDRA to help maintain the network. Stakers receive a high economic stream through block rewards, awarded by the blockchain. This ensures the chain is always well-protected against “51% attacks”.
Check out our Step-by-Step Guide on How to Stake HYDRA.
Every block yields a reward of 16+ HYDRA (slowly growing over time) to the miner of the block. The more HYDRA you stake, the more blocks you will mine in a given time period.
You can use the Hydrachain Staking Calculator to estimate the average time it will take to mine a block.
If you use staking pools such as the one of Kucoin, you will receive daily rewards. We recommend setting up your own staking wallet if you own more than 500 HYDRA, as exchange pools may take a commission of your rewards.
To further estimate your staking rewards please visit the Hydra Advanced Calculator.
Hydra chain is based on the proven technology of Bitcoin, Ethereum and Qtum chains. When you stake on your own setup, the actual amount of mined blocks may turn out higher or lower than the estimation (depending on your luck).
Make sure that your staking device has no malware and encrypt your wallet as explained in this guide.