Quarashi, the first decentralized currency backed by a cryptocurrency
The Quarashi platform will allow customers to use the currency to buy and sell products online.
The XQN platform will allow customers to use the token to buy and sell goods and services on the XQN marketplace.
Quarashi will look and feel like a normal currency, with the difference that it is backed by a blockchain. This means that you can not spend your money twice – the system will only allow you to spend the amount of XQN equal to one unit of the currency you are paying with.
The Quarashi team has built a cryptocurrency that is as secure and stable as any other currency. The Quarashi platform will allow customers to use the currency to buy and sell products online.
XQN will look and feel like a normal currency, with the difference that it is backed by a blockchain. The XQN marketplace will be the first marketplace powered by blockchain technology.
Every month, the Quarashi platform will buy back XQN from all participants in the system, to keep the price stable. By keeping the price stable and setting it at one XQN per 1 USD, we ensure that everyone is always paid in their local currency.
The aim of Quarashi is to become a global currency. This means that it has to be easily converted into other currencies and also accepted in many countries. Large numbers of merchants will accept XQN as a form of payment and we want to be in a position where they do so without our having to ask them to do so first.
To achieve this goal, Quarashi has several advantages over existing blockchain-based cryptocurrencies:
Quarashi is very simple in terms of its rules and the way it works. There are only two rules: you cannot spend your money twice and you cannot spend more than one unit of another currency for every unit of XQN you hold (more about this later).
Quarashi has a very clear purpose: it is designed for use as a global currency. Its sole function is to provide value and make people's lives easier. This simplifies the decision-making process for merchants when accepting new coins into their systems
In the coming years, as the use of Bitcoin and other cryptocurrencies is normalized, it will become possible to use them for online shopping.
For now however, it is still difficult to buy goods with crypto-currencies like Bitcoin or Ethereum. For example, the most popular cryptocurrency, Bitcoin, cannot be used to buy things on Amazon. The reason for this is that you need a digital wallet – which are often complicated and not easy to use – in order to transfer money from one account to another. It also means that you need to keep your money in digital form on your computer or smartphone at all times.
The new Quarashi platform will allow customers to use the currency to buy and sell products online.
The Quarashi system will use the Ethereum blockchain, but will be built so that it can be customized by the customers and will include features like fast deposit and withdrawal of funds.
In other words, XQN is a global currency that is backed by your real money. It has no history, no political implications, and no single entity that can steal it from you.
However, there are some problems of the currency:
People might think it is a scam. This could be because the name sounds too much like "quadrillion", or because they have heard of Bitcoin and don't like the idea of another cryptocurrency based on a similar system.
Many people think that cryptocurrencies are just another way to gamble. People who believe this will not accept XQN as a currency. They will not accept payment in XQN if they can have their money back in their local currency – they just don't see why they should pay you in an uncertain system with no guarantee of getting their money back at all.
One issue is whether people will trust it as a currency when it has no real connection to anything else. If you earn some XQN by working for it, who do you turn to for help? Are there any other "XQN-only" services? How does this make sense?
Will people be able to use it anywhere in the world? This is one of the
Cryptocurrencies are not really a new idea. There have been digital currencies before, such as Liberty Dollars. But the difference between those and cryptocurrencies is that those were backed by real things, like gold or silver. And until recently, no one had tried to make a cryptocurrency that was not backed by anything except the goodwill of their users.
The first major cryptocurrency – bitcoin – was introduced in 2009. It has become more valuable since then than all the other cryptocurrencies combined. In other words, it outpaced them all. Now you can buy bitcoin with any regular currency: it is just another kind of currency.
The user interfaces of most cryptocurrencies are still very simple, as they started out as an experiment among early adopters who could figure out how to use something this unfamiliar. More users means more complexity, so the interfaces need to be made more user friendly.
Another advantage of the blockchain is that it allows trustless transactions: you don't have to worry about middlemen stealing your money or credit card companies holding on to your data and charging you for using it (although they still do it).
More Information :
Website: https://quarashi.network/
Telegram: https://t.me/quarashinetworkofficial
Twitter: https://twitter.com/QuarashiN/
Reddit: https://www.reddit.com/user/Quarashinetwork
Author
Bitcointalk username: kimjongunch
Bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=3439403
BSC Wallet Address: 0x0b3246810F4886DB32f70E086D572D8e9d660acb