Bitquence in a Nutshell - Writeup
Bitquence is a company that aims to create a people-powered new economy services company that makes the cryptocurrency market accessible and trustworthy to the average user, accelerating adoption of blockchain technology and democratizing ownership of cryptocurrencies. In short, it wants to spread the use of cryptocurrencies to the masses.
How will Bitquence do this?
Bitquence hopes to achieve this by solving these problems currently plaguing the cryptocurrency ecosystem:
- Being able to easily transfer value across digital assets
- A safe and secure wallet that handles multiple keys
- one-click diversification into multiple crypto assets
- Understanding risk and quality across multiple coins and assets
- Choosing between an ever-growing array of crypto currencies
- providing all the above on an easy-to-use, mobile friendly platform
Next-Generation Digital Wallet
With so many different wallets needed for the different cryptocurrencies out there, Bitquence wants to create a single point of interaction with the new economy. The Bitquence Universal Wallet will allow them to bulk transactions together in order to increase liquidity and keep costs down for their consumers.
Wallet & Liquidity Layer: The wallet will link to a Bitquence Liquidity Network, based off the Bitquence token. This links programmatically via API into major cryptocurrency exchanges and the Liquidity Network will be decentralized.
Bitquence Platform Layer: This includes a Community Consensus component for rating individual tokens and cryptocurrencies on technical merit and quality. Ratings will be assigned on the basis of ownership of those currencies within the Bitquence platform.
Cold Storage: The system will randomly synchronize with cold storage, which will be in a secure location that is not physically attached to the internet.
Bitquence Token (BQX)
As Bitquence is based off of ERC20, gas is required for it to function.
In short BQX Tokens will :
- Be the payment mechanism for using the Bitquence platform
- Pay for Bitquence cold storage services
- Enable liquidity to help with changes in user asset allocations
Another feature of the token is that users can stake them onto risk profiles. Based on the accuracy of their vote, users may even be rewarded with BQX from the stake pool. This means that experienced users will be rewarded for their knowledge and earn BQX payouts just for using the platform and staking tokens. This also helps newer users gain familiarity to the risks and qualities of different coins, helping drive trust and adoption in the market.
Resources:
Bitquence website https://www.bitquence.com/
Bitquence Whitepaper https://www.bitquence.com/wp-content/uploads/2017/05/BitquenceWhitePaper.pdf
Article posted at http://boxmining.com/bitquence-in-a-nutshell/
Hi boxmining,
Thanks for the great content
Interesting.....this sounds like crypto for dummies....lol that means me.....i am flying blind still so any new ideas that could help me and others like me is worth a view....
Truly well said! I personally look forward to the future!
So it's you that was responsible for the rally today!
Sound like a fund, exchange and credit card all combined together. Its there currently a working platform because it sounds very complicated!
Didn't see much difference against jaxx wallet. and jaxx wallet allow you to export private keys.
I am also thinking about this thanks for sharing
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In my opinion this is a long term passive income opportunity that will be a great income for 2018 and beyond.This can be very lucrative too and can earn you thousands of dollars per month if done correctly. This gives you direct control over your money and trades, no broker is necessary here and NO SELLING, NO RECRUITING AND NO DAILY TASKS NEDD https://ec40a397.usi-tech.info/
The main reason that it made me interested is because I wanted a piece of the Bitcoin action, but I had no idea about good ways to get involved
Please Remember, there always a risk with any investment so be careful and only invest what you can afford to lose. Good luck to everyone! Due your research and your own due diligence before investing anywhere
This one is a coin to watch for a while now. Its ICO price was $0.04 or similar and I saw it rising above $1.25 multiple times. The market has been steady since then and it is around $0.50 at the moment.
I don't know if it will go lower than this. Probably. The fork thing is causing some serious fall in altcoin prices. But the hype around this coin is great.
I'm not sure if the actual usage of the coin will affect price to which extent. I don't see the use cases justifying a heavy price tag. The platform will be great though.