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The Hami Network is a layer 1 blockchain that utilizes a hybrid approach to improve transaction speeds and reduce gas fees. Here's a closer look at the technology behind the Hami Network
The Hami Network uses a hybrid approach that combines Proof of Stake (PoS) and Chain of Trust (CoT) mechanisms to secure the network and process transactions. By using a hybrid approach, the Hami Network is able to improve transaction speeds and reduce gas fees, while maintaining a high level of security.
The consensus mechanism used by the Hami Network is a hybrid PoS/CoT algorithm. This algorithm is designed to improve transaction speeds and reduce the energy consumption associated with mining. The Hami Network also utilizes a dynamic block size mechanism that adjusts the block size based on the transaction volume, further improving scalability.
The Hami Network supports smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. This allows for the creation of decentralized applications (dApps) that can run on the Hami Network.
The Hami Transactional Network is a separate project that provides a zero-gas fee transactional network for day-to-day minor expenses. By using the Hami Transactional Network, users can transfer money without paying any gas fees. The Hami Transactional Network utilizes Directed Acyclic Graph (DAG) algorithm to verify the transactions.
The Hami Network is designed to be interoperable with other blockchains and networks. This means that users can move assets and data between the Hami Network and other networks with ease. Interoperability is achieved through the use of cross-chain bridges and other technologies.
We hope this overview has given you a better understanding of the technology behind the Hami Network. For more information on specific aspects of the technology, be sure to check out the rest of our documentation. Please note that the Hami Transactional Network uses a different algorithm and consensus mechanism than the Hami Network.