Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process. Bitcoin is changing the way we see money as we speak. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way. It is a decentralized peer-to-peer internet currency making mobile payment easy, very low transaction fees, protects your identity, and it works anywhere all the time with no central authority and banks. Bitcoin is design to have only 21 million BTC ever created, thus making it a deflationary currency. Bitcoin uses the SHA-256 hashing algorithm with an average transaction confirmation time of 10 minutes. Miners today are mining Bitcoin using ASIC chip dedicated to only mining Bitcoin, and the hash rate has shot up to peta hashes. Being the first successful online cryptography currency, Bitcoin has inspired other alternative currencies such as Litecoin, Peercoin, Primecoin, and so on. The cryptocurrency then took off with the innovation of the turing-complete smart contract by Ethereum which led to the development of other amazing projects such as EOS, Tron, and even crypto-collectibles such as CryptoKitties.
Haven is an untraceable cryptocurrency with a mix of standard market pricing and stable fiat value storage without an unsustainable peg or asset backing. It achieves this with a built in on-chain smart contract that controls the minting and burning of coins in a network of cryptographically unknown supply to facilitate value for users that choose to send their coins to offshore storage contracts while allowing everyone else to be exposed to the natural price movements of the currency. Offshore Storage Offshore Storage is Haven's built in smart contract/protocol that powers the stable value storage. In short, sending Haven to offshore storage (burning) records a reference on the blockchain to the current fiat value which can be restored later back into Haven by minting new coins to the tune of the current fiat value. The key use cases for offshore contracts are: Point of sales/payment gateway systems where goods can be bought with Haven and stores can immediately lock the fiat value in to protect from price fluctuations. This has the added benefit of keeping the stores business and income completely hidden on the blockchain as neither their wallet address or amounts are revealed. Storing large amount of money outside of the traditional banking system. Privacy focused cryptos are perfect for this but without a reliable way to maintain value through fluctuations the process of holding could be costly. Sending Haven offshore quite literally, makes money disappear until you want it back at which point the value remains intact. Untraceable | Hidden | Decentralized Haven uses ring signatures, ring confidential transactions and stealth addresses meaning payments cannot be tracked or linked back to any user. Wallet addresses and transaction amounts are completely obfuscated on the Haven blockchain making all activity invisible. The Haven Protocol is decentralized and open source meaning no central control over the network. Nothing is censored.