Horizon State ceases operationsOn 19 August 2019 Horizon State announced that it would be ceasing operations.
The information on this page discusses Horizon State prior to its collapse, and should not be considered up to date.
Horizon State is a token-based blockchain voting and decision-making platform designed to provide efficient vote casting and decision-making processes. The secure digital ballot box uses blockchain technology to ensure that data is distributed and tamper-proof, and allows voting from mobiles and PCs.
The platform operates through the use of Decision Tokens (HST), which provide the “gas” for voting within the Horizon State ecosystem. If you’d like to buy HST, read on to find out how these tokens work and how you can purchase them.
You can buy and trade HST on a variety of cryptocurrency exchanges, such as:
If you want to buy HST in Singapore, here’s an example of how to do it:
HST is available in currency pairings with bitcoin (BTC) and Ethereum (ETH). To create an account, you’ll need to provide your name and email address and create a password. Depending on the exchange you choose, you may need to provide additional information, for example, proof of ID, to verify your account. It’s also recommended that you set up two-factor authorisation for increased account security.
Many cryptocurrency exchanges only permit trading between cryptocurrencies, which means you often can’t directly deposit fiat currency, such as Singapore dollar (SGD). This means you’ll usually need to own or buy BTC or ETH before you can purchase any HST.
The steps you need to follow to deposit funds will depend on the exchange you’re using. For example, if you’re using Kucoin you select “Assets” in the top menu, choose your desired currency and click “Deposit”.
Now you can exchange BTC or ETH for HST. While the process varies slightly from one exchange to the next, you’ll generally have to search for your chosen trading pair (such as HST/BTC) and enter the number of HST. It’s then a simple matter of entering the number of HST you want to buy, choosing a market or limit order and clicking “Buy HST”.
On the flipside, if you’re looking to sell HST then you’ll generally need to follow similar steps to those outlined above. The key difference, of course, is that you’ll need to click on “Sell HST” and review current sell prices before completing your transaction. Other than that, the process is more or less the same.
HST is an ERC20 token based on the Ethereum blockchain. As a result, it can be stored in any Ethereum-compatible wallet that supports these types of tokens, including:
Based in Melbourne, Horizon State is an Australian start-up with the lofty vision of “redesigning democracy for the 21st century”. Looking beyond the marketing tagline, Horizon State offers a secure digital ballot box that it says can’t be hacked, protecting the identity of each voter.
How does it work? Horizon State takes advantage of the unforgeable attributes of distributed ledger technology to create a blockchain-based voting platform. This protects voter identities and protects against outside interference, while also allowing voting transparency.
Horizon State also aims to make voting more convenient and affordable. By facilitating immediate digital votes through mobiles and PCs, the technology could potentially overcome many of the geographical constraints facing the voting process. The company also claims that its system allows for more cost-efficient voting, reducing the cost to taxpayers from between $7 and $25 per vote for traditional methods of voting to less than $0.50 per vote.
Horizon State’s initial coin offering (ICO) was held in October 2017 and raised $1.4 million.
Regardless of which cryptocurrency you’re thinking of purchasing, it’s essential to thoroughly research its background, stated goals and potential for growth before buying. Cryptocurrencies are complicated and speculative, so make sure you fully understand all the risks first.
If you’re thinking of buying HST, consider the following factors:
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