BTC One-way Transfers

A Bitcoin Scaling Solution

A secure, efficient, and decentralized Bitcoin upgrade and scaling solution.

Non-consensus upgrade. BTC one-way transfer is a Bitcoin upgrade and scaling solution that does not require unanimous agreement from the Bitcoin community.

Decentralized. There is no need to transfer BTC to any centrally managed address.

Layer1 DeFi. BTC will be transferred to a new chain (Hacash) that includes all the advantages of Bitcoin and supports DeFi.

Unlimited Scaling of Application Ecosystem. BTC is based on the second layer of the new chain for instant payments and unlimited scaling of the application ecosystem on the third layer.

No change in control. There is no change in control during the upgrade process, and both chains use the same private key and address.

Security. No one can steal your BTC in any way, and there is no need to store any new asset proof, just keep the original private key safe.

Transfer Reward. You will receive the currency (HAC) on the new chain as a reward for BTC transferring, and the earlier you transfer, the more you will receive.

Irreversible. You will not lose your BTC, but note that the one-way transfer of BTC to the new chain is irreversible.

How it Works

Hacash uses the same private key address generation algorithm as Bitcoin to transfer BTC to a "black hole" address on the Bitcoin network where no one knows the private key, and generates the corresponding "transferred BTC" on the Hacash network.

The entire process has no trust risk, but the transfer is irreversible. In order to incentivize more transfers, a certain amount of new currency is issued and sent to the address that transferred to the "black hole".

The issuance of the new currency decreases as the amount of BTC transferred in a one-way transfer increases, and is linearly locked and released at regular intervals. The number of new coins issued as rewards and the lock-up period depend on the ranking level of the transferred BTC.

For example, if you are the 300th BTC one-way transfer, your rank will be 10, and you will receive a reward of 2048 HAC with a lock-in period of 2 weeks, releasing 1024 HAC per week.

Why Use BTC One-Way Transfers to Scale Bitcoin?

Simultaneously Solve Bitcoin's Scalability And Monetary Issues

By transferring BTC to Hacash, it is possible to achieve layer2 instant payments and unlimited scalability of layer3 applications based on the decentralized nature of Hacash. In addition, the PoW coins, HAC and HACD, with different currency characteristics on the Hacash chain, together with BTC, form a three-coin system, which solves the problem of Bitcoin's lack of monetary elasticity and limited total supply, making it unsuitable for large-scale settlement.

Avoid Bitcoin's Sustainability And Ledger Security Issues

In the Hacash economic system, the main settlement currency, HAC, has an unlimited total supply and uses a new mining algorithm, X16RS, based on the PoW mechanism. Block rewards will exist indefinitely, which means that in addition to scaling Bitcoin, it is possible to avoid the sustainability problem caused by Bitcoin's block reward halving and eventual production stoppage, and the ledger security problem caused by the disappearance of incentives.

Form A Purchasing Power Stable Currency System Through Bitcoin

The three-coin system of Hacash consists of BTC, HACD, and HAC. BTC has a limited supply and can be divided, HACD has a limited and indivisible supply, and HAC has an unlimited and infinitely divisible supply, making it possible for the three different PoW-based currencies to exist on a fully decentralized chain. HAC's supply can be balanced according to market demand through free-market collateral lending and arbitrage operations, resulting in a relatively stable purchasing power. This means that scalability has been achieved on a currency system that has a more stable purchasing power than Bitcoin.