Qredo — a guarantee of crypto-assets security
What Qredo is
Qredo is a blockchain company that develops cross-network liquidity solutions for the future digital economy. The company said its mission is to use Qredo’s technology to enable innovators to create the open capital market of the future. The Qredo protocol, the company’s core product, is a Layer 2 network for tracking and calculating digital assets that eliminate the inherent risk of centralized private key management. The company has raised a total of €3.5 million in three rounds of funding, the most recent of which was received on June 6 as part of its first round of sales.
As a Layer 2 protocol, project offers the following services:
· Infrastructure management to ensure the safe and fast movement of digital assets, which is further divided into three activities, including the implementation of the Qredo protocol (decentralized Layer 2 network)
· Provides technology solutions and services for capital markets, such as trading/single ranking, staking, income generation, and more;
· Integrates with its partner network, including but not limited to integrating with leading institutional investors, brokers, OTC counters, exchanges, and OMS / EMS platform providers, enabling Qredo and its partners to create a new source of liquidity
· Provides institutional investors with compliance guidance that allows them to navigate the rapidly changing regulatory landscape, supports multi-custodian governance rules, works easily with various KYC / AML workflows, etc.
Qredo’s future plans
Qredo is changing the architecture of digital asset ownership and blockchain connectivity. By providing liquidity and capital efficiency in the blockchain economy, Qredo can offer decentralized storage, proprietary cross-network swaps, and access to cross-platform liquidity.
Qredo’s creators are open about their future plans. The Project is uniquely positioned to host a multi-trillion dollar stream of assets that are expected to one day be securitized on blockchain. The network will also help open up new markets by combining this world of tokenized securities with DeFi and digital assets.
The first sale of coins was conducted in a closed format. As a result, the company was able to get more than $16 million. The coin has already managed to gain the trust of Coinbase, Ledger Prime, and Nexo, which were private investors of Qredo.
The team was able to implement the connection of 6 validators, the creation of its own wallet Qredo Wallet and the authorization application Qredo Singing App. Next, the company is going to continue to attract even more validators and wants to add the ability to trade coins on DEX. In 2022, the team expects to move to V2 Mainnet to create a full-fledged DAO (decentralized autonomous organization).
Projects like this, with clear goals that have been gradually implemented since 2018, are a great foundation for future growth. It creates a positive image and attracts large and responsible investors. Therefore, in the long run, the token will grow thanks to the support of the Qredo platform itself. Especially the growth in value will be felt if the user manages to invest in coins at a public sale.
Advantages of Qredo
Qredo’s blockchain is built on Tendermint, a fast completion matching mechanism configured to handle thousands of transactions per second. In addition, Project includes a Layer 2 state chain that transfers and records ownership of assets through various Layer 1 blockchains and in the Qredo network itself.
Multi-Party Computation
(MPC) — A consensus-driven and next-generation MPC network connects Layer 1 blockchains to prevent digital asset theft. The network includes programmable management and workflow with built-in security for institutional trading and access to DeFi smart contracts.
Encrypted messaging
Integrated with the Matrix network, a decentralized messaging architecture, Qredo allows encrypted private messages to be cryptographically linked to transactions on the Qredo network. This layer of messaging allows unique applications such as Trader Chat to be created on Qredo, allowing traders to buy and sell directly from their favorite chat software.
In layman’s terms
Simply put, this radical new blockchain infrastructure eliminates the need for private keys to manage ownership of digital assets. Instead, a trust-free multilateral computation (MPC) implementation provides a flexible way to sign transactions that meet institutional governance and security requirements. This is combined with an interoperable Layer 2 network that acts as an immutable asset registry, enabling instant cross-chain settlement between previously isolated blockchains and platforms. In addition, the decentralized Layer 3 communication network supports encrypted trade negotiations and allows information to be attached to transactions.
What’s the bottom line?
To summarize, the Qredo is a cross-network liquidity protocol for tracking and calculating digital assets that eliminate the security risks associated with centralized private key management. This project ensures the security of digital assets without the risk of information loss. Plus, it allows market participants to give each other trading credit based on the value of the assets stored in their self-managed or custodial wallets. Simply put, the new token makes it possible to send and receive funds quickly and very secure, as both the security levels and exchange speeds on the platform are very good. In any case, the token is interesting, it is definitely worth watching, but only time will tell how much it will be able to shoot and what kind of advantage it will eventually give.
