HYCON End-of-October Wrap Up


There’s been a number of exciting new developments since our last posting in mid-October.

The Ghost Protocol update has been carried out as promised on the roadmap!!

Also, our CEO, COO and CTO attended a number of selective conferences and meetings in Korea and Europe and signed MoUs with Korean companies to build meaningful connections abroad and promote real-life usage of Hycon in Korea.

At 7 pm on October 17th, CEO Taewon Kim hosted a live broadcast in which he elaborated on the significance of Hycon’s four announcements made on October 9th and answered questions. Over 2,000 people joined the live streaming which was simultaneously conducted in Korean, Chinese and English.

On October 18th, Hycon announced the signing of an agreement with elTOV, a Korean IoT device platform that specializes in interactive digital directory system development for the distribution and commerce industry. elTOV holds an 85% share in the Korean and Singapore shopping mall kiosk market and provides related service platforms to China, Japan, Hong Kong, and the Philippines.

Through the partnership, Hycon will lend its technological expertise in the development of Tausch Coin, a blockchain-based platform that compensates users for their information on consumer shopping behavior pattern at shopping malls.

On the same day, Glosfer signed a Memorandum of Understanding with Apro Service Group, a Korean consumer finance company with a net worth of KRW 9.3 trillion that also owns OK Savings Bank, OK Capital, and Apro Credit Information.

The MoU involves the application of Hycon’s blockchain technology to develop a suitable business model for Apro and joint-development of a fintech business model to make forays into overseas financial markets.

The third event that took place on the 18th was CEO Taewon Kim’s participation in a panel discussion titled “Utilization of Big Data, the Future Strategy of Internet Banks” at the “4th Industrial Revolution and the Digital Innovation in the Finance Sector” seminar of the 2018 Segye Future Forum in Seoul.

On October 19th, CEO Taewon Kim gave a lecture on “The Use of Blockchain Technology in the Public Sector” at a seminar co-hosted by Korea University and Thomson Reuters. Korea University is one of the few institutions of higher education in Korea that offers blockchain courses and operates an active student blockchain club called KUBL.

On October 22nd, 2018 CTO Niall Moore gave a opening keynote speech titled “Blockchain Evolved” in which he introduced Hycon in front of the European audience and shared future goals including the upcoming Ghost Protocol update and the long-term goal of the implementation of the Spectre Protocol at the East-West Cryptobridge Conference (EWCC) hosted by the Frankfurt School Blockchain Center in Germany.

As the platinum sponsor at the two-day event jam-packed with 40 insightful presentations and three panel discussions, the team was able to network with and promote Hycon to many prominent crypto projects in Europe and other continents including Iota, Consensys, Cardano, Dash, Nem and Zilliqa, just to name a few.

On October 24th, COO Bogyu Kim visited the Gyeongsangbuk-do Office and debriefed government officials on the company’s blockchain projects, use cases of Hycon and blockchain application plans customized for the Gyeongsangbuk-do Province.

And finally, at 8pm on October 31st, update of the Ghost Protocol was announced. Thanks to our engineers who forwent sleep to complete the final steps and make the release happen on time, now Hycon can do the following:

1. Cut the block time from 30 to 15 seconds.

2. Speed up the confirmation time as a result of decreased block time

3. Reward miners even if they mined a block that is not incorporated in the main chain.

Check out the Ghost Protocol Teaser Video and the Ghost Protocol Announcement Video featuring Lead Developer Owen Delahoy and CEO Taewon Kim below!

FYI, here’s a summary of the Ghost Protocol Annoucement Video.

Hycon Ghost Protocol Teaser Video
Ghost Protocol Announcement Video

Upcoming Events

11/2: 4th Industrial Revolution International Symposium: Artificial Intelligence and Blockchain

11/7: The International Copyright Technology Conference 2018

We look forward to sharing more awesome news with you in the month of November!

As always, thank you for your support!


Team Hycon



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Web: https://hycon.io



We are the HYCON Cryptocurrency Team

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