KuCoin announces the suspension of HShare (HSR) tokens in its cryptocurrency platform.
All the transactions which include the trading, buying, selling, and even deposits and withdrawals of HShare will be suspended on the KuCoin cryptocurrency exchange platform on Tuesday, August 07, 2018, at 06:00 UTC. The suspension has been done as HSR is currently addressing it’s during and after the Mainnet swap will become invalid.
With that being said, users should not use the HSR addresses after the exchange officially starts the transfer to HyperCash (HCash) because users will lose their crypto tokens.
After the Mainnet swap, KuCoin explains that the HSR digital assets will be safely swapped and the system will start to generate the brand new HCash Mainnet token deposit address for users. From now on, users must now use the HCash address for deposits once the deposits and withdrawal services officially reopen.
The HyperCash swapping happening on KuCoin aims to implement the quantum resistance, to support the hybrid Proof – of – Work (PoW) plus Proof – of – Stake (PoS) protocols, and to feature a Decentralized Autonomous Organization (DAO) – governed ecosystem, according to the HCash Foundation.
HShare (HSR) serves as the native coin of the decentralized cryptocurrency platform HyperCash (HC or HCash) which was officially founded in 2016.
KuCoin is an international, decentralized cryptocurrency exchange platform that supports more than 200 digital assets. It boasts a platform equipped with a high – level of security and a friendly user – interface.
The KuCoin platform has set out a network where users and holders gain a significant share of the marketplace.
In line with this, KuCoin Shares (KCS) is the cryptocurrency token issued by KuCoin.com. It serves as the native payment system and acts as the internal currency where users also profit from the success of the network.
KuCoin was initially based in China; however, the government banned the country from digital currency and assets exchanges. Now, the cryptocurrency exchange platform is based in Hong Kong.
The core team comprised of blockchain and crypto enthusiasts, who already had years of experience in the industry’s giants. Without further ado, here are the key people behind it:
- Michael Gan – founder and chief executive officer (CEO). Gan was also a former technical expert of the Ant Financial of Alibaba Group and a senior partner of internet giants like KF5.com, etc.
- Erin Doon – works as a chief of operations officer (COO); Doon is also a senior internet researcher, systems architect, and an industry expert. He also works as a chief technology officer (CTO) and senior partner of prominent information technology (IT) companies like youlin.com.
- Top Lan – works as a chief technology officer (CTO), designer, and deployer in KuCoin Share’s financial exchange system; Lan is an open source technical expert. He is also a manager of several mainstream open source projects in Github.
- John Li – works as a president of KCS business operations group
- Jack Zhu – works as a marketing director
- Kent Li – works as an operations director
- Remy Ran – works as a product designer
- D.K. – works as an art designer
- Luffy – works as a principal iOS engineer
- Will Zhang – works as a principal Android engineer
- Luka – works as a principal backend engineer
- Vitace – works as a principal frontend engineer