Hamster (HAM) – All you need to know

What is Hamster coin?

It’s a ‘meme’ cryptocurrency that’s used as a speculative asset to be traded online. It has a vague roadmap to stand out by being a more secure token in the future but at the moment it has no practical use beyond that.

Hamster Finance was set up in mid-2021 but a lot of key milestones, such as an audit, market research, and being listed on minor exchanges, won’t be completed until 2022. Until then, it’s a pure speculation and hype play rather than a platform that is breaking new ground.

How does Hamster token work?

There is very little information available about how it works. Every cryptocurrency has a white paper but the Hamster Finance version doesn’t contain much in the way of specifics outside of the fact that the development team kept no tokens – and therefore no control – for themselves.

Cryptocurrencies often operate with a voting system that’s based on how many tokens an individual owns. The more tokens you have, the more power to shape the future of the platform whenever decisions over the direction of the project are put to a vote. In this case, the Hamster team released all the tokens onto the open market.

The movement of these tokens or coins is tracked using a blockchain that replaces the need for a bank or financial institution at the centre. The blockchain is like a big public database that stores information on how many coins everyone owns, approves each transaction, and stores a record of it that cannot be changed.

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