HIT (HitChain) | Cryptocurrency In Singapore

 

HitChain is a decentralized and collaborative community built to value developers’ works with a transparent credit system using blockchain
technology. It is a community of the developers, by the developers, for the developers. HitChain provides a platform for developers to automatically redeem the value of innovation and creativity with compensation (currency value) and privileges (currency right). The self -governed system will guarantee that each member has the responsibility and right to participate in community decisions.
HitChain community and the platform it runs on will embrace autonomy, democracy, transparency and fairness without any third-party intermediaries or centralized supervision. HitChain members will be among the first developers to recognize the full value of their efforts.
Currently open-source communities such as GitHub are focused on facilitating developers’ work by providing tools or space. These communities don’t always represent the developer’s interest as they are profit driven enterprises representing the interests of their investors and shareholders. Therefore, we propose the HitChain project, a global autonomous community that is of the developers, by the developers, for the developers. The term HitChain derives from Git and Blockchain. Git is the open source distributed revision control system authored by Linus Torvalds. Blockchain is the open distributed legder invented by Satoshi Nakamoto. With HitChain we hope to surpass GitHub as the largest Open-source platform by applying Blockchain technology for a more dynamic, democratic, and autonomous Open-source ecosystem.

HitChain Vision
HitChain is an open Distributed Autonomous Organization (DAO) of the developers, by the developers, for the developers. HitChain represents the ultimate interests of developers with better solutions to the challenges facing the current Opensource community. HitChain provides intellectual property protection, capability and credit system, equality of income distribution, and true communal ownership. We should note that all participants or users in HitChain are regarded as developers in a generalized way. Developers include individual developers, tech consumers, as well as businesses and organizations. HitChain strives to builds a brand new decentralized autonomous community based on Blockchain technology. HitChain is an Open-source concept framed with an original core infrastructure technology and consensus mechanism. Developers output will be saved, shared, browsed, distributed, and paid for use under HitChain hosting agreements and Hit protocols. Every product will be safeguarded with automatic copyright protection and quantified with cryptocurrency. Everyone who contribute source code and use HitChain as a development platform is a community member of HitChain, and there is no needs of holding HIT tokens to become a community member.

Hitchain Foundation Limited
formerly known as Zitchain Foundation Limited

10 Anson Road #12-08 International Plaza Singapore 079903

Official website: http://hitchain.org

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Resources
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Whitepaper
News
HitChain Explorer
Roadmap
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Social Media
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Facebook
Medium
Twitter
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Gitee
Github

Email: contact@hitchain.org

HIT Token

HitChain Token (HIT) is a Ethereum ERC-20 based Token circulating within the HitChain ecosystem. Once HitChain online, ERC-20 will be exchanged to HitChain Token (HIT Token) at one to one ratio. The cryptocurrency is the core coordination mechanism.

Total supply: 102,400,000,000

Token Distribution
Developer Community: 40%
Marketing: 5%
Token Sale: 30%
Team: 15%
Foundation: 10%

HitChain uses a dual token system: basic token and fuel token.

The base token is used in the following scenarios:

  • C2C Trade to pay for HitChain operating expenses including code hosting, copyright management, crowdfunding rewards, paid use and so on.
  • Copyright Authorization: To fund the transfer of copyrights and intellectual property.
  • Voting Right Weighted Voting Rights.
  • Code Hosting When fuel tokens are not enough to pay, basic tokens are automatically converted into fuel tokens to ensure the deal is completed.

Fuel tokens are used in the following scenarios:

  • Mining Reward Miners provide the basic network infrastructure and the cost of the transaction ledger.
  • Resource Reward Fees charged by P2P resource sharers.
  • Advanced Service Fees for advanced service.

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