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HUPAYX Launch Validator Onboarding & MainNet

Richard Powell  2 min read
Illustration: greatreporter

HUPAYX, an award winning ‘O2O’ blockchain powered mobile payment solution provider - with 2 live apps (wallet and mobile pos) and over 1 Million local merchant base, has officially unveiled its MainNet and started an onboarding process for its Validator Nodes.

HUPAYX - A Hybrid Blockchain (private & public blockchain)-based mobile payment solution provider coupled with TechFin business model, operated by The Human Plus - a System Integrator and Development company based in Seoul, South Korea. From Catholic Community based Payment Consortium in Busan,Korea, to Accommodation Booking Platform and Joint Venture - One Global Inc, HUPAYX’s strategic alliance has grown rapidly. 

HUPAYX facilitates never before real-life application of blockchain powered payments to both consumers and merchants and enables them to pay and accept payments in their desired payment methods, which includes credit cards, cash, points (prepaid e-money) and crypto. The technology behind it has been enforced with the recent release of its official blockchain mainnet.

What is a MainNet and why is it important? 

MainNet is the main blockchain network for a project to run on after rounds of testing on the testnet (test version of mainnet). It is deemed as the final product of a project and the realization of the promise made in the whitepaper (technical project layout). In layman’s terms, it’s the real deal. MainNets are important because they prove or disprove the ability of a project to take a blockchain project from ideation to implementation. 

HUPAYX took it beyond implementation by creating various revenue streams. Its blockchain MainNet was built on Cosmos Chain, which utilizes dPOS (delegated proof-of-stake) through Tendermint consensus algorithm and solves problems associated with Scalability and Interoperability of blockchain related solutions. 

What is a Validator Ecosystem and how it works?

Validator Ecosystem is the most crucial part of HUPAYX Blockchain Network, which serves as a Network Alliance or Node Shareholders. 

With the launch of its blockchain mainnet, HUPAYX has started the onboarding process for its blockchain validating nodes. Validator, which can be an institution or organization, is responsible for verifying transactions within a blockchain. Most importantly, HUPAYX Validator can gain daily, monthly and yearly rewards by profiting from transaction processing, which depends on the amount the validator has staked (holding HPX coins). The transaction verification is automatically done via Shufflator - a special Validator wallet, which is granted to Network Alliance members, with built in staking, voting, reward generation, delegator appointment and telegram messaging services. Our current Network Alliance that comprises online, offline, accommodation, e-money and other businesses are all in the process of becoming those nodes. Where credit card, fiat and crypto transaction fees generated from point top-up, as well as point spending will be shared among those validators.

Validator Node Onboarding is held in 3 Private Presale Rounds and fourth Final Public Sale with token staking varying by the sale round. 15 Million to 45 Million HPX coin (HUPAYX native coin) staking is required to become a Node, where annual profit will be generated based on each validator's staked amount. With round 1 closed, round 2 presale applications will last until filled. The application fee (staking) is accepted in Bitcoin and Ethereum, with a yearly validator contract period. 

Full information about Validator Onboarding and HUPAYX Future Plans is available HERE.

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