What is HTML Coin?
HTML Coin is a new 'hybrid' coin built with a combination of Bitcoin Core's technology, proof-of-stake and Ethereum's Virtual Machine. It's purpose seems to be utilising the benefits of Qtum (click here for more info on these), but to offer additional functionality on top of that. We've seen this referred to as 'Qtum 2.0' on several websites.
Although this coin is referred to as 'HTMLCOIN' by its creators, we refer to it as 'HTML Coin' in this guide for readability, sometimes just referring to it as 'HTML' (not to be confused for the acronym HTML).
Benefits/features of HTML Coin?
Security-wise, HTML Coin is a hybrid of proof-of-work and proof-of-stake. It uses double SHA256 hashing (which is used by Bitcoin) and protects from 51% attacks (where the history of a coin is changed maliciously) through real-time checkpointing.
Some other useful features:
- 60 second block time.
- Allows Bitcoin & Ethereum to 'talk to each other'.
- Simple payment verification allows for quick & easy transactions.
- Identity module for simple & secure identify authentication.
- Contract ledger for storing smart contract content in a readable format.
- Supported by a non-profit called the 'HTMLCOIN Foundation', who state that they give opportunities for freelancers/talent seekers and collaborate with governments. See their ongoing projects here.
Currently HTML Coin isn't listed on any of the larger exchanges, but it has almost $2M of trading volume on Bleutrade in the past 24 hours (at the time of writing this), and is available on the decentralised CryptoBridge exchange. Be aware that HTML has a much higher supply than Qtum, so don't expect HTML's price to reach Qtum's anytime soon.
Differences between HTML Coin and Qtum?
To start this section, you need to be aware that Qtum was originally forked from Bitcoin. This is a process where two parties want to develop a coin in a different direction, so they split it into two coins - one the original, and a new one with a new set of rules; Qtum in this case.
HTML Coin was then forked from Qtum, which led some people to claim it was a 'cheap fork' copying Qtum. Since its creation it's started adding new features though, for example checkpointing - a feature they suggest few other coins have, including Qtum at the time of writing this.
A potential drawback with HTML Coin is that their development team, although very strong in terms of their technical background, seems to be mostly voluntary. Qtum for example was funded via an ICO, so their team is paid for their work (although these volunteers may benefit via other means such as owning HTML Coins themselves, or through government funding). A Reddit thread covers this well, suggesting that several members of HTML Coin's team are very high profile in industry, and that these links to instrustry are even more valuable than a full-time team. See this post for more information on their team, and this post for analysis of some of their upcoming projects.
At the time of writing this, there seems to be some FUD (Fear, Uncertainty & Doubt) around HTML Coin's development team. See a summary of the situation here, and an official statement here (in general, there was a disagreement within the development team leading to concerns that a new blockchain may be created - and HTML Coin owners might not receive it).
Can I swap HTML5 for HTML Coins?
This is something that's confused lots of people. The HTML5 Coin has been around since 2014, and has been developed for many years since then. HTML is a new coin that's replacing this older HTML5 Coin, so on charts HTML Coin will likely appear to have been created in late December 2017 - even though it's predecessor has been around for much longer.
For whatever reason, perhaps to incentivise HTML5 owners to update, HTML5 can be swapped for HTML - but only until 28th March 2018, and at a decreasing conversion rate (which is listed on their website):
- 18th Dec 2017 to 12th Feb 2018: 1 HTML5 for 1 HTML
- 13th Feb 2018 to 12th Mar 2018: 1 HTML5 for 0.5 HTML
- 13th Mar 2018 to 27th Mar 2018: 1 HTML5 for 0.33 HTML
So if you own any HTML5, make sure you swap it for HTML as soon as possible to get the best rate.
HTML5 Coin was heavily traded on an exchange called 'CoinGather'. There was a contraversy around this because CoinGather randomly shut down around November 22, with many fearing that it was an exit scam, and that anyone holding HTML5 Coins on the exchange at the time lost them.
Amando R. Boncales, CEO of the HTMLCOIN Foundation, addressed this on the Cryptocurrency Talk forums, suggesting that effected users had opened an inquiry with the FBI, and that the HTMLCOIN Foundation would fully cooperate with the authorities for this. In a second post he addressed concerns about this causing an extra supply of HTML Coins, and potentially compromising the HTML Coin blockchain.
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Written by the Anything Crypto team
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