The HEX project, previously known as Bitcoin HEX, launched this December 2, and quickly raised skepticism among the crypto community. The HEX token, envisioned by Richard Heart, started with an airdrop, and allows for the creation of more tokens in exchange for Ethereum (ETH).
The token, overhyped as the solution to both BTC and ETH problems and limitations, also uses an elaborate system of staking, which brings a competitive element to minting. In some sense, HEX resembles schemes like BitConnect and ETHConnect, where established coins are deposited, and another type of asset is issued.
The appeal of HEX started with the snapshot on December 2, which awarded tokens to all BTC holders, with the right to stake them. The only exclusion is for the Mt. Gox wallet, as well as Satoshi Nakamoto. Otherwise, a...