News and announcements about HEX, such as partnerships or technological advancements, hexcoin price can also impact its value. HEX was released on December 2nd, 2019, following years of developing and optimizing its game theory. Price chart from 2020 till today, also includes daily market cap history.
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Assets with the largest change in unique page views on CoinStats in the last 24 hours. If you had Bitcoin in your wallet before December 1/2019, you could claim it for free. The venture first used the name “Bitcoin Hex” and aimed to redistribute the wealth of the Bitcoin ecosystem. The HEX price skyrocketed in 2021, gaining approximately 3,400% by October 4, moving from $0.012 per coin to $0.42.
Staking Mechanism Affecting Hex Price
Unlike many other cryptocurrencies, HEX is not a Ponzi scheme, pyramid scheme, MLM, scam, ICO, or security. It is designed to function as a day-to-day currency, offering extensibility and ease of use. Users are advised to store their HEX in personal wallets rather than on exchanges to maintain control and security over their assets.
Bitcoin holders received HEX through a snapshot of the Bitcoin UTXO set at block height , with a distribution rate of 10,000 HEX per 1 BTC. This claim period lasted for one year, during which HEX could also be acquired using ETH via the HEX smart contract. HEX was initially distributed to Bitcoin holders through a snapshot of the Bitcoin UTXO set at block height , offering 10,000 HEX per 1 BTC. This distribution was available only during the first year of launch, after which unclaimed HEX was redistributed to active stakers. The maximum annual inflation rate of HEX is capped at 3.69% post the first year. The primary purpose of HEX coins is staking, offering potential APY (annual percentage yield) of up to 40%.
The absolute theoretical maximum number of coins/tokens that is coded and will ever exist in the cryptocurrency’s lifetime. Publicly circulating amount of specific cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked (are available to be traded publicly). HEX is entirely decentralized, meaning that users mint their own rewards without the need for intermediaries. This decentralization ensures that users have full control over their assets and can participate in the network without relying on third parties. The absence of middlemen not only enhances security but also aligns with the core principles of blockchain technology, promoting transparency and user empowerment.
Holders of BTC were able to claim their HEX tokens at the rate of 10,000 HEX per bitcoin. BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. However, besides staking, the HEX token also provides an incentive-based referral program that allows users to receive a commission for bringing in new investors to the HEX platform.
However, compared to the previous 24-hour period, the number of unique users increase by 10%, and the total number of mentions has increase by 106%. This event highlighted the regulatory challenges that cryptocurrencies often encounter. Despite its early successes, HEX has faced challenges, including recent declines in its price. These fluctuations have sparked further discussions about the sustainability and long-term viability of the project. The community remains divided, with some viewing HEX as a groundbreaking financial innovation and others expressing doubts about its future.
Who came up with HEX?
The game of Hex was first invented in 1942 by Piet Hein, a Danish scientist, mathematician, writer, and poet. In 1948, John Nash at Princeton re-discovered the game, which became popular among the math graduate students at Princeton.
HEX Founders
This significant milestone drew attention to HEX’s potential as a financial instrument within the cryptocurrency market. The staking mechanism of HEX, which rewards users for staking larger amounts for longer periods and penalizes early withdrawals, played a crucial role in this performance. As of Dec 31, HEX has a market capitalization of $595.8 Million and is ranked #5032 among all cryptocurrencies.
- Most exchanges will provide a wallet for you to store your HEX, but you may also want to consider setting up a separate wallet using a hardware device or software program.
- HEX can be bought on a variety of cryptocurrency platforms, including the Crypto.com App and Exchange.It’s also important to note that HEX is not available on all platforms.
- HEX (PulseChain) stands out in the cryptocurrency landscape as a hybrid Proof of Work (POW) and Proof of Stake (POS) system operating within the PulseChain ecosystem.
- HEX is a single smart contract (“App”) on the PulseChain ecosystem, and it follows the PRC20 standard, making it compatible with many wallets and cryptocurrency exchanges.
- HEX is designed to be a store of value to replace the Certificate of Deposit as the blockchain counterpart of that financial product used in traditional financial markets.
Wealth distribution is an important factor to consider when researching a cryptocurrency. It refers to the percentage of the total supply of the cryptocurrency held by the top wallet addresses. Among all the assets available on CoinStats, these have the most similar market capitalization to HEX.
- Securities and Exchange Commission for selling HEX as an unregistered security and misappropriating HEX investors’ money to buy luxury items.
- It refers to the percentage of the total supply of the cryptocurrency held by the top wallet addresses.
- There have also been allegations that HEX is part of a Ponzi scheme but these have not been substantiated as there has not been any formal investigation at the time of writing.
- Some cryptocurrency exchanges may not offer this token due to regulatory or other considerations.
- Cryptocurrencies, including HEX, are highly volatile, and price fluctuations can occur rapidly.
It worked by sending a message to a network of people who had bitcoin in their wallets before December 1, 2019. Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation (not locked). The integration with PulseChain, hardware wallets, and DEXs, along with the community’s innovative contributions, have been key events shaping HEX’s trajectory. Despite regulatory challenges and market volatility, HEX continues to evolve within the dynamic landscape of blockchain technology and cryptocurrencies. HEX’s journey has also been marked by significant price fluctuations, reflecting the volatile nature of the cryptocurrency market.
On the final day of the launch phase, known as the Big Pay Day, unclaimed HEX was distributed to Stakers. Currently, HEX’s functionality is simplified, allowing users to send and stake it through the smart contract’s base layer. The HEX platform, originally called BitcoinHEX and later known as hex win and HEX COM, was created by Richard Heart, also known as Richard Schueler. It follows the ERC20 token standard, which is the most common token standard on the Ethereum network for creating fungible tokens. HEX also aims to utilize the emerging DeFi (decentralized finance) ecosystem for its functionalities and features.
How many hex coins are there?
HEX price is $0.003681, down -0.65% in the last 24 hours, and the live market cap is $0. It has circulating supply of 0 HEX coins and a max supply of 602,409,683,223 HEX alongside $312K 24h trading volume.