Hydra USING DeFi protocols to overcome the limitations of centralized one-platform-solutions.
The new side of crypto that you would find partying in Miami isn’t interested in p2p transactions, anonymity, data privacy, decentralized identity or anything else that would add friction to the vast sums of money pouring into cryptocurrency.
For most of the new arrivals crypto is about profit, not politics, governance and changing the inequalities.
There’s that division, between the people who want to be regulated and controlled and people who see cryptocurrency as a tool to build a freer world that we have today.
HYDRALEDGER IS UNIQUE
In the sense that is offers both worlds an innovative breaking-through technology aiming to enhance the living standards for the people and optimizing governance processes and business profits alike.
All this, without being stuck to one platform and compromising people's privacy, data and freedoms. Hydraledger is using the latest technologies to foster democracy and stabilize society and build a protection against hackers and rogue actors.
HYDRALEDGER USING DEFI PROTOCOLS
We are using DeFi protocols to overcome the limitations of centralized one-platform-solutions.
We are the only CROSS-PLATFORM free identity framework being able to transfer all kinds of digital signatures like IDs and even a complete digital rights management system from one blockchain to another. The possibilities DID from Hydra offer are limitless.
One of those limitations become apparent with NFT. NFT only works on the same blockchain platform consuming those gas costs and are very complex smart contracts.
Because of its complexity, it is very hard to make them usable for representing royalties and access-rights. They are good at presenting ownership of something but limited to this ecosystem. To be able to represent ownership is not enough in our modern world.
We need more than just being able to express tokenized ownership of art, music or an in-game-item: in the future everything needs to be digitally identified and we need to find ways to govern and maintain access rights and user rights. The complex financial system cannot be satisfied with the limitations inherited by NFT.
To make them usable across different blockchain systems is very cumbersome and expensive. NFT are too complex and inflexible to represent royalties, granting and revoking access level rights or manage and track efficient supply chains across different ERP systems. NFTs are suboptimal to be useful for creating digital identities and modify them over time (when you change your marriage status, or passport, etc). On top, NFT don’t offer the broad spectrum of total transparency to total privacy at the same time to different audiences.
DID ARE NFT ON STEROIDS
That is why we have created what we believe is the successor of NFTs: A complete framework for Self-Souvereign Identity based on cross chain DID.
DID are NFT on steroids - the next generation of ownership management offering much more flexibility and privacy to protect data yet make processes more traceable and trustworthy.
On top, DID are not bound to a specific blockchain. You can store DID on any form of ledger. To help industries adopting blockchain technology with identity management, we have built a smart bridge between Hydraledger and Ethereum by using DeFi protocols. In the future we are connecting all major blockchains through our smart bridges and bring the elegance and flexibility of digital rights and ownership management to all major blockchain ecosystems.
IS CRYPTOCURRENCY TRULY DECENTRALIZED?
Have you ever asked yourself, is Cryptocurrency truly decentralized? One of the key reasons why your search for crypto potentials brought you here is because of its promised anonymity. The anonymity in crypto transactions is, of course, a direct effect of its decentralized nature.
Cryptocurrency, compared to fiat currencies, is seemingly decentralized but, even though the coins are not controlled by any central bank, your crypto transactions almost always involve a third party (wallet issuer, etc.). Your metadata is revealing your identity. In many cases, this has led to a vital information leak.
The third party also uses this opportunity to impose heavy charges on crypto transfers. Thereby, bringing you the same problems that drove you from fiat currency usage in the first place. As you have probably realized, all of the situations mentioned above puts cryptocurrency’s extent of decentralization into question.
Crypto was born as a way to escape from all this, to build a monetary system outside the reach of the government. That was the dream that first drew us into crypto, before it was any more plausible of an investment than gold-laced currency or silver coins. In the decade since, Silicon Valley and Wall Street have gotten friendlier with Bitcoin, and prosecutors have learned how to tame it — but we see the same dream of escape still living beneath it all.
THE EXCHANGES WILL BE REGULATE
We know that. You know that. They’re going to regulate the banks, wherever else they can apply pressure… But regardless of how much effort they put into trying to control cryptocurrency, it will fail because of the decentralized nature of it.
It is a point of almost religious faith for us. No matter how hard the clampdown on crypto, it will be incomplete and your data and monies will be safe with us, as your business processes and digital rights. They can’t control Hydraledger.
To this effect, Hydraledger developed truly decentralized self-sovereign identities being able to walk across different platforms through DeFi. The self-sovereign identities provide you, as a user, more secure authorization and safer authentication and access of funds. With Hydra on DeFi, a user now has:
• Full access over their funds; none of your information can be leaked without your express permission.
• No need for third parties. Cryptocurrencies funds and other data can be transferred with the use of a private-public key pair and mobile data.
• More flexibility in and accessibility of funds as you can now send your crypto over otherwise insecure channels.
Hydraledger was able to achieve this with DeFi by effectively combining it with the Hydra decentralized utility token that first appeared on Uniswap. Through this, we were able to create a decentralized exchange cross-chain technology.
