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Frequently Asked Questions

Here are some of the most frequently asked questions about the Hami Network

General

  1. 1.
    What is the Hami Network?
    • Hami Network is a super scalable layer1 blockchain with a high-speed transaction system and low gas fees. The main goal of the network is to promote global crypto adoption.
  2. 2.
    How does the Hami Network differ from other blockchain platforms?
    • The Hami Network uses a hybrid consensus algorithm that combines Proof-of-Stake (PoS) and COT . It also uses DAG (Directed Acyclic Graph) to validate transactions, making it faster and more scalable than traditional blockchains.
  3. 3.
    What is the main goal of the Hami Network?
    • The main goal of the Hami Network is to promote global crypto adoption by providing a fast and low-cost transaction system that can be used for everyday spending.
  4. 4.
    Who is behind the Hami Network project?
    • The Hami Network project was created by a team of blockchain and cryptocurrency experts.
  5. 5.
    When was the Hami Network launched?
    • The Hami Network testnet was launched in 2023, and the mainnet is expected to be launched soon. The official launch date will be announced on the project's social media channels.
  6. 6.
    Who is behind the Hami Network project? The Hami Network was co-founded by Mr. Mohammed Tariq Ali, Lekhraj KR, and Suhaib Thottathil.

Technology

  1. 6.
    What consensus algorithm does the Hami Network use?
    • The Hami Network uses a hybrid consensus algorithm that combines Proof-of-Stake (PoS) and COT.
  2. 7.
    What is the DAG algorithm and how does it work on the Hami Network?
    • DAG is a directed acyclic graph that is used to validate transactions on the Hami Network. It allows for parallel processing of transactions, making the network faster and more scalable.
  3. 8.
    How fast are transactions processed on the Hami Network?
    • The Hami Network can process up to 20,000 transactions per second, making it one of the fastest blockchain platform.
  4. 9.
    What is the maximum transaction throughput of the Hami Network?
    • The maximum transaction throughput of the Hami Network is currently 20,000 transactions per second.
  5. 10.
    What is the role of smart contracts on the Hami Network?
    • Smart contracts on the Hami Network are used to automate the execution of contract terms and conditions. They are also used to enable the creation of decentralized applications (dApps) on the network.

Tokenomics

  1. 11.
    What is the HAMI token used for?
    • The HAMI token is the native currency of the Hami Network and is used for transaction fees, staking, and governance.
  2. 12.
    How many HAMI tokens are there in circulation?
    • The initial total supply of HAMI tokens is 120 million. However, the token supply can increase through mining and reward systems.
  3. 13.
    What is the token distribution of the HAMI token?
    • The token distribution of the HAMI token is as follows: 50% for mining and staking rewards, 30% for ecosystem development, and 20% for team and early investors.
  4. 14.
    How is the HAMI token supply controlled?
    • The HAMI token supply is controlled through a strong burning mechanism that ensures deflationary pressure on the token.
Last modified 7mo ago