Hex (HEX)

The purpose of HEX is to bring the concept of Certificate of Deposits (CD) to the digital world.

The HEX cryptocurrency is a form of financial service that will be operated on blockchain technology.

Similar to the conventional setup, the users will deposit their cryptocurrency and earn interest on return after staking their coins.

As mentioned earlier, the HEX cryptocurrency is a form of financial service that will be operated on blockchain technology. The purpose of HEX is to bring the concept of Certificate of Deposits (CD) to the digital world. Similar to the conventional setup, the users will deposit their cryptocurrency and earn interest on return after staking their coins.

3.0

HEX is an ERC-20 token as an actual product. The blockchain technology is built such that it will reward the holders of the token instead of the miners. The concept is very similar to that of conventional certificates of deposit (CD). Users can lock their investments in HEX tokens, and then can earn interest along with their principal amount, once the term matures.

4.2

The main face behind HEX is Richard Heart, who is considered a very controversial figure. Some of the other names on the project team are Kieran Mesquita, Cody Lamson, Brent Morrissey, and Dan Emmons.

2.8

HEX has been on a roller coaster ride ever since its advent. Interestingly, the ups and downs of its journey have been happening side by side, which is quite interesting. The project was quick enough to earn a notorious name for itself. It was seen as scam by many due to its founder (Richard Heart) being a very controversial figure. Due to the dubious practices of the founder, HEX is virtually not listed on any major exchange and not in the rankings either. 99% of the trading volume takes place on the decentralized exchange Uniswap. Even though the project was labeled a scam by many, it still managed to go big on the cryptocurrency markets. It is approaching the $1 billion milestones in terms of market capitalization very quickly. This development came in around May 2020, when the project had a reported market capitalization of over $970 million. A sudden surge came when many whales were rumored to have staked a lot of money in HEX tokens.

3.2

The code for the HEX project is publicly available and anyone can access it. The top languages used in the project are Solidity and JavaScript. The main repository is being hosted on GitHub under the name of BitcoinHEX. The team and developers on the Github repository, however, are not very large in number and that is the primary reason why development has been slow. The last activity was recorded 11 days ago.

3.5

Despite attracting negative news, the HEX project has managed to enjoy a good share of positive developments. It is predicted to rise both in terms of market capitalization and community numbers. The project is standing in a very good position and can easily take off from its current point.

4.0

There are no further projects disclosed under the HEX project. Also, the website hasn’t provided any details of the future roadmap or any upcoming projects, nor does the GitHub repository show signs of any new upgrades or developments.

2.0

Judging by how HEX has grown during the past two years, it surely has the potential to go further. If it manages to successfully shake off the label of scam from its face and comes up with a workable solution, it is bound to sweep the cryptocurrency markets.

3.5

HEX is one of its kind of technology in the market. There are not many cryptocurrency projects that act as a digital alternative for certificates of deposits. Although many other cryptocurrency projects offer financial services and are very trending in the DeFI space, there is no notable project that talks about staking interest in depositing your coins. KuCoin, Elcoin, and TopChain are considered as some technologies which offer a similar store of value feature as HEX.

4.5

HEX has managed to form several key partnerships, even though it is being considered a scam by a large part of the crypto-community. One of the most strategic partnerships under its belt is the one with the Milan-based payments company, SIA group. HEX hopes that this partnership will allow it to capture the existing bank clients by offering them a digital alternative. In other news, HEX has also entered into a partnership with IBM, the leading IT giant. HEX will be the official business partner for IBM for their new institutional custody solution for digital assets. In return, HEX will be making use of IBM’s advanced data security and protection features on their proprietary platform.

4.0

HEX has a remarkable community representation on many social platforms. Apart from marketing platforms, HEX is present on many technical publication websites and rolls out frequent publications. It has a strong presence on social media platforms like Facebook, Twitter, Reddit, and Telegram to name a few. The community around the HEX project is seen to be growing exponentially as it is becoming one of the intriguing projects in the sense that it is growing in terms of market capitalization while there are cries of it being a scam.

4.0

Not much is known about the development team of HEX. The development for the HEX project is slow.

2.9