Maker MKR to Qubitica QBIT Exchange

Crypto Pair Details: MKR to QBIT

Maker MKR

MKR is a cryptocurrency depicted as a smart contract platform and works alongside the Dai coin and aims to act as a hedge currency that provides traders with a stable alternative to the majority of coins currently available on the market. Maker offers a transparent stablecoin system that is fully inspectable on the Ethereum blockchain. Founded almost three years ago, MakerDao is lead by Rune Christensen, its CEO and founder. Maker’s MKR coin is a recent entrant to the market and is not a well known project. However, after today it will be known by many more people after blowing up 40% and it is one of the coins to rise to prominence during the recent peaks and troughs. After being developed by the MakerDAO team, Maker Dai officially went live on December 18th, 2017. Dai is a price stable coin that is suitable for payments, savings, or collateral and provides cryptocurrency traders with increased options concerning opening and closing positions. Dai lives completely on the blockchain chain with its stability unmediated by the legal system or trusted counterparties and helps facilitate trading while staying entirely in the world of cryptocurrencies. The concept of a stablecoin is fairly straight forward – it’s a token that has its price or value pegged to a particular fiat currency. A stablecoin is a token (like Bitcoin and Ethereum) that exists on a blockchain, but unlike Bitcoin or Ethereum, Dai has no volatility. MKR is an ERC-20 token on the Ethereum blockchain and can not be mined. It’s instead created/destroyed in response to DAI price fluctuations in order to keep it hovering around $1 USD. MKR is used to pay transaction fees on the Maker system, and it collateralizes the system. Holding MKR comes with voting rights within Maker’s continuous approval voting system. Bad governance devalues MKR tokens, so MKR holders are incentivized to vote for the good of the entire system. It’s a fully decentralized and democratic structure, then, which is an underutilized USP of blockchain tech. Value volatility is a relative concept among both cryptos and fiat currencies. The US dollar, for example, was worth 110.748 yen on July 9, 2018. On July 4, 2011, $1 was worth 80.64 yen, and on March 18, 1985, $1 was worth 255.65 yen. These are major differences in exchange rates, and inflation within each country makes each currency worth different values even when compared to themselves. One USD in 1913 is worth the equivalent of $25.41 today, and even $1 in 1993 is worth the equivalent of $1.74 today. Stablecoins don’t negate these basic economic principles of value. Instead, both Tether and Dai have values pegged to the U.S. dollar. This is done to stabilize the price.

Qubitica QBIT

QUBITICA is a community of more than 1000 developers, IT companies and investors from over 20 nations who want to work together to advance blockchain technology. This community has developed the QUBITICA infrastructure and since May 2018 it has been working on new projects under the associated brands and websites. Subcontracting is organized within the community. This requires the holding of QBIT, the paticipation shares in QUBITICA and all related projects. A long-term goal of QUBITICA is the development of project-related Smart Contract Solutions. These projects are treated as independent tasks and subprojects advertised individually. This allows us to achieve a flexible pipeline adapted to the needs of the market. The general developments in Blockchain will grow disproportionately, which is why it is the right time to find an intelligent solution to accomplish these tasks. What sets QUBITICA apart from an IT company operating in this field? QUBITICA is not an IT company, but an association of like-minded developers, IT companies and investors. IT projects will be handled under future brands and websites, and QUBITICA will be responsible for exchanging ideas, prioritizing projects and managing the shares in QUBITICA. QUBITICA's QBIT is an ERC-20 token that honors achievements. This honor is also comparable to shares. Developers receive QBIT for the implementation of projects and thus a share in the assets of the platform. A developer becomes, so to speak, a miner of shares through the power of his programming. He can now keep this QBIT, which represents his share of the overall project, or exchange it for Ether or USD / Euro. The mining of QBIT as part of the development of QUBITICA itself is no longer possible. This process is complete. QBIT is also the unit through which investors can acquire shares in the projects. To do this, buy QBIT either from the developers, any holder or via the platform. A purchase on exchanges is of course also possible. For new projects under other brands, the introduction of additional tokens is possible. QBIT holders automatically receive shares in this token upon issue.

SOURCE: COINGECKO

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