Hurricash – PulseChain Project Overview

Table Of Contents

Token:

Token ticker: HUR

HUR total supply is 3,303,936,038.99 HUR. The token is deflationary through a fee-burning process. Every HUR trade burns 0.05%.

Airdrop: 10,000,000 HUR will be airdropped to 41,810 PulseChain sacrifice addresses. Each address will receive 240 HUR.

The sacrifice phase is over. 262 addresses sacrificed $227,218 for a total of 3,303,936,038.99 HUR.

How To Pulse writes extensively about what is PulseChain.

About:

Hurricash is a layer 2 privacy solution for PulseChain PRC-20 and Ethereum ERC-20 tokens. The goal of Hurricash is to bring privacy to DeFi and to protect freedom of speech and privacy. It’s based on ring signatures called linkable spontaneously anonymous group signature scheme (LSAG) rather than zkSNARKS. Hurricash also includes a default relayer option for gasless withdrawals.

Hurricash breaks the link between the sender and the recipient. It works like a black box where the user deposits tokens specifying the receiving address and chooses the incremental amount then generates a secret note or a “hcash token”. LSAG makes sure that the deposit can’t be linked with the secret. The deposit amount is then sent to the Hurricash smart contract. The contract accepts the deposit and adds the key as valid to the corresponding ring signature pool list of deposits. The user can withdraw funds after the ring has been filled up with 6 users. The user provides proof of ownership of the secret note and of the correct public key address to withdraw. Once the smart contract checks the proof and the transaction is signed with the right key, the funds are transferred to the previously specified address.

There are three main properties of LSAG:

– Anonymity or signer indistinguishability

– Linkability of two signatures by the same signer

– Spontaneity of group formation without a manager or group secret sharing setup.

Bitcoin’s most popular privacy mechanism is CoinJoin used by Wasabi or Samourai Wallet. The solution proposed relies on a centralized coordinator composing private transactions coming from different users. Although the users remain in control of their funds for the whole time, a centralized coordinator has great insight into the nature of transactions and there can be a Sybil attack on liquidity. Hurricash is completely decentralized but it’s not protocol-level privacy like the one provided by Monero’s ring signatures. The users still need to opt into privacy rather than it being a default. That being said, the absence of a central coordinator ensures censorship resistance and anonymity.

HUR token utility:

– Anonymity mining – users can deposit HUR tokens into the smart contract to earn yield.

– Passive income for relayers – deposit HUR to list your relayer and gain income. More deposited HUR ensures a higher rank on the list.

– Zero fees – HUR tokens will have zero fees when being used in the protocol (Pulse tokens will have a 0.3% fee).

– Governance – HUR used to vote for the future evolution of the protocol.

Links:

Nothing in this article or website is financial or taxation advice. For advice on these matters, please contact a registered professional adviser.

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