Hacash Diamond (HACD) — price, overview & secure storage

What is Hacash Diamond and who created it?

Hacash Diamond (HACD) is the native currency and a Non-Fungible Token (NFT) on the Hacash layer 1 blockchain. Each HACD is uniquely composed of a six-letter inscription, randomly generated from a set of characters, resulting in a total of 16,777,216 possible combinations. The first HACD was mined on May 16, 2019, through a bidding process.

Key features of Hacash Diamond blockchain

HACD shares similarities with Bitcoin in that it has a finite total supply and is produced through mining. However, the mining process for HACD is unique, with a maximum of 58 HACDs being mined each day, and the mining difficulty continuously increasing. Theoretically, it would take about 800 years to mine all HACDs, but like gold, they have a defined total quantity that can never be fully mined.

How Hacash Diamond transactions work

In terms of currency usage, HACD is primarily utilized for value storage. The production of HACD requires not only mining but also bidding using HAC (Hacash). The completed bids result in the destruction of HAC, thus regulating HAC's supply to maintain its purchasing power stability. In the NFT space, HACD is recognized as the first Proof of Work (PoW) NFT and daily on-chain auction NFT. It is also referred to as a 'visual Bitcoin.' Additionally, each HACD can be transformed into different artistic forms based on unique generative art rules, known as PoW generative art, adding to its value as a unique art collectible.