What is the issuance and circulation of HashAI coins?

HashAI's HASH coins, issued through ICO and block rewards, circulate widely through public sale, developer allocation, mining rewards, and occasional token burns, empowering transactions, AI services, and community governance.

Dec 15, 2024 at 11:07 pm

What is the Issuance and Circulation of HashAI Coins?

HashAI, a decentralized artificial intelligence (AI) ecosystem, has developed its native cryptocurrency, HASH, to facilitate transactions within its network. The issuance and circulation of HASH coins are governed by a precise set of rules and mechanisms.

Token Issuance

1. Initial Coin Offering (ICO): HashAI conducted an ICO in 2018, issuing 1 billion HASH coins to the public. The ICO raised approximately $30 million and established HASH as a tradable asset in the cryptocurrency market.
2. Block Rewards: New HASH coins are generated through block rewards, a mechanism employed by the blockchain to incentivize miners for verifying and adding new blocks to the distributed ledger. Block rewards gradually decrease over time, following a predetermined schedule.

Token Circulation

1. Public Sale: The majority of HASH coins in circulation are held by individuals and organizations that participated in the ICO. These coins are freely tradable on cryptocurrency exchanges.
2. Developer Allocation: A portion of HASH coins is reserved for development and ecosystem growth. These coins are used to fund research, application development, and marketing initiatives.
3. Mining Rewards: Miners receive HASH coins as a reward for verifying transactions and adding new blocks to the blockchain. The block reward allocation encourages participation in the network's security and decentralization.
4. Token Burn: HashAI periodically burns a portion of HASH coins to reduce the total supply and increase the scarcity of the asset. This mechanism helps maintain the token's value and mitigate inflation.

Token Utility

HASH coins serve several key functions within the HashAI ecosystem:

• Transaction Fees: HASH is used as the primary currency for paying transaction fees on the HashAI blockchain. These fees incentivize network participants to process and validate transactions efficiently.
• AI Services: HASH is utilized to access and purchase AI services from within the HashAI ecosystem. These services include data analysis, machine learning model training, and predictive analytics.
• Community Governance: HASH holders have the ability to vote on proposals that affect the direction and development of the HashAI ecosystem. This governance mechanism ensures that the community has a say in the future of the project.

Conclusion

The issuance and circulation of HashAI coins adhere to a structured framework that ensures fairness, transparency, and the long-term sustainability of the network. HASH serves as the backbone of the HashAI ecosystem, empowering users with efficient transactions, access to AI services, and participation in community governance.