When it comes to the world of cryptocurrency, there has been no shortage of both options or confusion. There are multitudes of coins and tokens, ranging from Bitcoin and Litecoin, to smart contract approaches like Ethereum and NEM. In addition to that, tokens have all the functionality of a coin because of its parent blockchain but with added benefits of smart contracts that can be custom tailored to its intended purpose.
Hydro token, also known as HYDRO, is the token behind the scenes of Hydro Pay, the first feeless crypto payment transfer app. But how does it compare to other coins like Bitcoin and let’s say Dash. Well, let’s take a look.
Bitcoin is the defacto cryptocurrency that started the crypto boom, where popularity grew and its price started less than a cent to thousands of dollars. Dash, on the other hand, was an early fork of Bitcoin under a previous name Xcoin and then into the portmanteau of Dash, meaning “Digital Cash”. Dash claims instant transactions, low fees, rewards for masternodes, and available merchants. But how does Hydro stack up to Bitcoin and Dash?
Hydro is not a fork of Bitcoin but under the Ethereum network, taking advantage of smart contracts to enable unique functionality. Through the Hydro Pay app, Hydro can be used in conjunction with Project Hydro’s Snowflake Identity Protocol, which allows users to create a decentralized ID to be used for authentication. In addition, Hydro Pay allows for free P2P transfers while Dash requires a small fee.
In the payments world, every advantage matters for the user. Hydro and Hydro Pay has the advantage of being fast, feeless, and using the features of smart contracts. Want to know more? Here’s to helping P2P payments affordable for everyone in the world! Sign up here