Hyundai DAC (HDAC) is a blockchain based IoT (Internet of Things) contract platform. It seeks to bring together the blockchain technology with the contact less technology to improve communications of IoT devices. IoT contracts entail Machine-to-Machine service that manages devices on the blockchain. This service controls/restricts how these devices are used by embedding a smart contract in the devices and sharing their address publicly on the chain.
Ranked at number 69, the HDAC coin is theShow more [+] rrency used for transactions on this Hyundai DAC platform. The coin utilizes a special type of PoW (Proof-of-Work) called ePoW. This consensus mining mechanism prevents monopoly in mining and has a reduced block time of three minutes enabling faster transactions. There are about 12 billion tokens, 7% of which are premined, 7% are set aside for the Token Generation Event (TGE) and 86% left for ePoW mining. The value of dac will be 2,200 dac for 0.1 Bitcoins (Only Bitcoins will be accepted). The first block reward is 5000 dac, with 170 years as the accumulated mining time. There is an official Hdac wallet available in Android, Windows and Mac version to enable users store their coins safely. Countries such as USA, China and Singapore are restricted from participating.
Hdac has no particular developer. The platform is managed and maintained by its members. Decisions on updates are reached through agreement by a majority of nodes. It also has some partners working towards the same objective. Some of these partners are Hyundai BS&C, Double Chain, DEXKo, AmaZix and Elastic among others.