Monero XMR to QASH QASH Exchange

Crypto Pair Details: XMR to QASH

Monero XMR

What is Monero? Monero (XMR) is the top privacy-centric cryptocurrency based on the CryptoNote protocol, a secure, private and untraceable currency system. Monero uses a special kind of cryptography to ensure that all of its transactions are remain 100% unlinkable and untraceable. In an increasingly transparent world, you can see why something like Monero can become so desirable. Origins of Monero In July of 2012, Bytecoin, the first real life implementation of CryptoNote, was launched. While Bytecoin had promise, people noticed that 80% of the coins were already published. So, it was decided that the bytecoin blockchain will be forked and the new coins in the new chain will be called Bitmonero, which is was then renamed Monero, meaning “coin” in Esperanto language. In this new blockchain, a block will be mined and added every two minutes. Why Monero? #1: Unlinkability - Your identity is completely private You have complete control over your transactions. You are responsible for your money. Because your identity is private no one will be able to see what you are spending your money on. When you send funds to someone’s public address, what happens is that you actually send the funds to a randomly created brand new one-time destination address. This means that the public record does not contain any mention that funds were received to the recipient’s public address. In Monero, your public address will never appear in the public record of transactions. Instead, a 'stealth address' is recorded in a way that only you, the recipient, can recognize the incoming funds. #2: Fungibility Fungibility is interchangeability between one asset and another asset of the same type. Suppose you borrowed $50 from your friend, you can even return the money in the form of 1 $50 bill or 5 $10 bill, It is still fine. This shows that the dollar has fungible properties. However, if you were to borrow someone’s car for the weekend and come back and give them some other car in return, then that person will probably punch on the face. Cars, in this example, are a nonfungible asset. What is CryptoNote? CryptoNote is the application layer protocol that fuels various decentralized currencies. While it is similar to the application layer which runs bitcoin in many aspects, there a lot of areas where the two differ from each other. CryptoNote features an entirely new code base and is not a fork of Bitcoin. More info about CryptoNote can be found at their website. CryptoNote uses Ring Signatures to conceal sender identities via mixing and it also has unlinkable transactions that is achieved using 1-time keys for each individual payments. Ring signatures enable ‘transaction mixing’ to occur. Transaction mixing means that when funds are sent, the sender randomly chooses several other users’ funds to also appear in the transaction as a possible source of the funds being sent. The cryptographical nature of the ring signature means that no one can tell which of the funds were really the source of the transaction – not even the person that gave the funds to the sender in the first place. A system of ‘key images’ associated with each ring signature ensures that although no one can tell the true source of the funds, it can be easily detected if the sender attempts to anonymously send their funds twice.

QASH QASH

QASH (pronounced “cash”) is the native currency for the Quoine (pronounced “coin”) which is now rebranded to Liquid. Liquid is a global cryptocurrency firm looking to solve the liquidity problems that have surfaced with crypto investments. Liquid brings liquidity to the cryptocurrency space by providing a means for you to easily buy cryptocurrency with and cash-out to fiat. Currently, each crypto exchange has its own level of liquidity that differs between the trading pairs it offers. This creates individual silos that may have great liquidity on one exchange but not on another. The Liquid platform connects these silos into one combined pool to give you the greatest liquidity possible. The Liquid World Book compiles the orders and prices from exchanges around the world into one order book for you to use. This gives any trader, no matter their location, the ability to use the fiat currency of their choice when purchasing or selling crypto. It removes the liquidity silos of separate exchanges and gives more trading power to previously underserved markets. The Prime Brokerage half of the Quoine Liquid platform basically gives you access to the features outlined in the previous World Book section. With Prime Brokerage, you have direct market access to all exchanges in the World Book without having to create an account on each individual exchange. Furthermore, Quoine has been building partnerships with a network of banks over the last several years to ensure the quick transfer of your fiat funds. QASH is an ERC20 token you use to pay for services on the Liquid platform. Beyond that, QASH holders may also receive discounts, promotional products, and ICO investment opportunities with coins that Quoine helps to launch. The team also emphasizes in their whitepaper that other organizations may use it for their own purposes similar to how some financial institutions use the Ripple XRP token. Because Quoine enters a few different financial sectors, the company has quite a few competitors. As a credit facility, the company competes with SALT. On the exchange side, there are numerous other businesses like Binance specializing in alternative coins or Gemini and Coinbase focusing on fiat to crypto conversions. Mike Kayamori (CEO) and Mario Gomez Lozada (President and CTO) founded Quoine in 2014. Kayamori was previously a Senior Vice President at SoftBank Group and was the Chief Investment Officer of Gungho Asia. Lozada was the CTO of Merrill Lynch in Japan for 11 years before taking the Chief Information Officer role at Credit Suisse Japan. Quoine is the first cryptocurrency firm in the world to be officially licensed by the Japan Financial Services Agency (FSA). The Liquid platform is actually the result of combining two previous platforms, Quoinex and Qryptos. At one time, those two trading platforms were performing over $12 billion of transactions each year.

SOURCE: COINGECKO

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