It's hard to imagine how we would live if we didn't have all the developments and technologies we have now. This never-ending development process pursues more than one generation. At that point, each of our creations surpassed all that we had and knew before. This is the state we all go through in relation to the youth, by historical standards, to blockchain technology. Its advantages are obvious, its tools are very effective, and its methods of communication have no boundaries.

Problems

However, despite it all, there are many obstacles in the way of this technology and all its accompanying industries. Every thing has to be solved, and this, as we all know, requires time and work tools.

• That is why all over the world, the most dynamic minds of mankind are making incredible efforts to create such a working tool, the use of which will not only allow the elimination of qualitatively all the existing barriers in the crypto world. But also to demonstrate something new in the high-tech world.

And as you might have guessed, in my post I want to introduce you to this project. And it's called Qredo Platform.

What is Qredo and what problems does it solve?

This radical new blockchain infrastructure eliminates the need for private keys to manage digital asset ownership. Instead, a trustless multi-party compute (MPC) implementation provides a flexible way to conclude transactions that meet institutional governance and security needs. This is combined with an interoperable Layer 2 network that acts as an immutable asset registry, allowing for instant cross-chain settlement between previously independent blockchains and platforms. On top of that, the Layer 3 decentralized communication network supports encrypted trade negotiations and allows information to be attached to transactions.

As a Layer-2 decentralized custodian protocol designed to act as middleware for capital markets, Qredo does not want to compete directly with other Layers 1 or 2. We see ourselves as adding value to all. However, we can be distinguished from existing Grade 2s in a few key ways:

Registry function. Qredo's Layer 2 network acts as an immutable asset registry, turning the blockchain itself into a secure vault.

Administration. Layer 2 currently does not consider architecture and technology for the governance requirements of capital markets clients. Qredo gives users the ability to assign multiple connected supervisors to perform administrative responsibilities, with an immutable audit log detailing what actions were taken by which actors and who monitors who has consented to these actions in relation to a customer's digital assets.

Cross-chain interoperability. Current Layer 2 usually focuses on a specific sequence. Moving money between these isolated Layer 2s could mean being forced back to the original Layer 1 mainland, and then making another hop to the final destination via a token bridge. bulky newspaper. As a cross-chain Layer 2 network, Qredo acts as interoperable middleware – enabling seamless transactions and atomic swaps of assets between different chains.

Tokenomics is user-centric. So far, Layer 2 token models have been based on a Layer 1 chain that rewards validators. Qredo takes a new approach to tokenomics, incentivizing all network participants with a multi-purpose token model. This provides a sustainable model for creating lasting network value.

Invariant test trails. All actions performed on the Qredo Network, including transactions, administration changes, and wallet creation, are recorded on the Layer 2 blockchain. This forms an immutable record that can be exported instantly. ie for accounting and compliance purposes. Sender and receiver identities can be included for easy compliance with the Travel Rules.

Technology MPC

How can Qredo provide decentralized and low-cost custodial transactions? It uses its own blockchain, built on a fork of the Tendermint blockchain. Qredo's first mainnet is secured by 24 nodes located in six Tier 4 data centers in six financial centers. This means that for now, the chain is not yet fully decentralized, although the plan is to move towards full decentralization over time. Finally, validators on version 2 will be able to stake staking and earn QRDO governance tokens as rebates/incentives.

Qredo uses Threshold Signature Scheme (TSS), a special type of secure multi-party computation (MPC), which is a variant of Shamir's Secret Sharing (SSS): Split the private key into multiple "keys". shared”, which requires the M-of-N approval of the owner of the semi-private key to execute the transaction. When M of N signatures are collected, a private signature approves a transaction. MPC is used by many of the most popular centralized custodians, including Fireblocks and Bakkt Warehouse, but also decentralized protocols like THORchain.

Qredo is audited, authenticated and insured by notable organizations such as Quantstamp, Trail of Bits, NCCGroup, Lloyds of London, Marsh, Zokyo…

Inference

Summing up a logical conclusion to all of the above, I would like to note the versatility and versatility of the platform in all its manifestations. As well as its powerful technical tools, with the help of users of completely different levels of participation in the cryptocurrency market will be able to appreciate the quality and convenience of all Qredo's built-in tools.

But to fully understand the concept of the project, I remind you that the best way to do this is to use Qredo technical documentation and all its official sources. The links that you will find at the end of this article. And this again I would like to thank you for your interest and see you soon.

WEBSITE: https://www.qredo.com/
TWITTER: https://twitter.com/QredoNetwork
LINKEDIN: https://www.linkedin.com/company/qredo
TELEGRAM: https://t.me/qredonetwork
DISCORD: https://discord.gg/bgVPvf6
GUTHUB: https://github.com/qredo


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Email Quedo: [email protected]


#Qredo #MPC #Blockchain