Glosfer Creates Genesis Block of Cryptocurrency HYCON

-It is the first step towards the 3rd generation currency following Bitcoin and Ethereum. Glosfer continues to develop its HYCON blockchain technology for use in the real economy.

SEOUL, South Korea, Jan. 9, 2018 /CNW/ -- Leading South Korean blockchain company, Glosfer (CEO Taewon Kim), announced it created the genesis block of its HYCON cryptocurrency, on January 4, 2018 at 3:15 am.

The significance of the time is due to the history of cryptocurrency. Satoshi Nakamoto created the genesis block of Bitcoin on January 3, 2009 at 18:15 pm. The genesis block is the first block of a blockchain. In other words, it was the beginning of all cryptocurrency and the mother of all blockchains.  

Logo of HYCON

According to Taewon Kim, CEO of Glosfer, the creation of HYCON's genesis block holds great significance because it was made at the same time as when the genesis block of Bitcoin was generated. (GMT is 9 hours behind Seoul, South Korea time.) He said, "We have made the first step towards the 3rd generation currency following Bitcoin. We will spare no efforts to develop technology to apply Hycon in the real economy and make it more popular."

Glosfer grabbed attention when it successfully closed its first round of the HYCON ICO for the domestic Korean market within just eight short hours on September 25, 2017. The early stage of the ICO resulted in raising slightly more than the initial target of 3,500 Bitcoin (approx. USD 13.9 million at that time). 

The company has been striving to develop blockchain technology which can be applied directly to businesses and daily life in a wide variety of fields including Fintech, cryptocurrency used in the real economy, and information management technology, amongst many others. Recently, on December 16, 2017 Glosfer successfully held the Infinity Project Unpacked Event, a large-scale conference, attended by 500 people which showcased the various applications of the new technology in the real economy.   

About Glosfer:

Glosfer is a leading blockchain technology and services company in South Korea. Building on its roots as a first-generation blockchain company, Glosfer strives to expand its activities into various industries to bolster its reach in both domestic and international markets, by leveraging innovative technologies and services, including its PHP API blockchain platform PACKUTH and its online and offline cryptocurrency trading platforms. With its upcoming Infinity Project, powered by its HYCON coin, the company seeks to establish and facilitate its cryptocurrency ecosystem while contributing to a more transparent and fair society based on blockchain technology through cooperation with public institutions.

SOURCE Glosfer