The Quarashi platform will allow customers to use the currency to buy and sell products online with the aim of making this a popular global digital currency.
Both Quarashi and XQN will be built on top of the Ethereum platform. Both currencies are designed to be smart contracts and have their own native token. The value of both tokens is derived from a fixed amount of QRC-20 tokens, which is issued by Quarashi Ltd. These tokens will be used for transactions on the platform in the form of a cryptocurrency, but also as a means to purchase services on the marketplace.
The XQN token can be converted into any other cryptocurrency supported on Ethereum, allowing you to use it to buy goods and services on almost any online market.
The first thing to recognize is that there is no such thing as a decentralized currency. There are just currencies that are not centralized, and the term "decentralized currency" is a contradiction in terms.
The second thing to realize is that if you want to pay someone with XQN, you will have to convert it into local currency first. The XQN system will organize a network of exchanges, allowing you to turn your XQN into any local currency. If you want to use XQN as a means of payment, you will have to convert it into local currency yourself.
In fact, converting XQN back into local currency will be what most transactions on the Quarashi platform will be done with, since Quarashi's primary purpose is to allow its customers to buy and sell products and services from anywhere in the world.
Next time someone tells you about their "decentralized currency," ask them where they get their money from and how much their bank charges for converting it back into local currency.
The problem of payment from one person to another is a difficult one, because it involves three parties. But it is particularly hard to solve in a decentralized system, where the parties are not known to each other and don't know what the other is doing.
The same problem exists for goods and services. When you go into a shop, you can pay the cashier with your local currency, or you can use the currency of the shop if that is different – but this isn't obvious to either party: how do they know what the other is thinking?
Instead of having both parties send two separate payments – one in the local currency, and one in the currency of the shop – we can imagine them sending one payment, in which they both put their money into a common pot and then draw out an equivalent amount. This system is called clearing and settlement.
At first sight this seems completely crazy: how do you know how much money should be in the pot? If I put in 1000 XQN now, and you come back tomorrow with 300 XQN from selling your car or whatever, will it make sense for me to have 300 XQN left over? And if your total comes back short by 300 XQN will I have any idea what happened
The word "blockchain" is often used to mean "the technology behind Bitcoin", but it actually has many other uses. A blockchain is a digital ledger of transactions, which can be distributed across multiple computers, so that everyone involved in a transaction has a copy of the latest version of the ledger.
Before the advent of cryptocurrencies, people used to use banking systems for transferring money between different countries. Banks could take a week to verify that you'd paid your taxes and send you your tax refund. When banks transmit money this way, the system has to trust them: if they lose your money or become insolvent, no one can get it back.
Blockchains are better than this – they are based on math instead of trust. They work because everyone who uses the system has a copy of the ledger; if you try to spend someone else's money, you will be seen as trying to double spend. The only way to spend someone else's money is to have access to their copy of the ledger, so that everyone agrees that you didn't try to double spend your own money.
A blockchain is a kind of distributed database that can be used to record transactions between parties in a way that allows them to be shared and verified millions of times over, without the need for an intermediary. For example, if you have a purchase in your bank account that needs to be transferred to someone else's account, you might have it sent to your friend's bank account.
At first glance this seems like a straightforward system – all you do is give the information and then let a computer do the work. But it turns out that things are not always as straightforward as they seem. The main challenges are dealing with errors, protecting confidentiality and preventing fraud. We need to make sure the information is accurate and hasn't been tampered with. If I give you an address instead of my name, you need to know that that is my address so there is no chance I've received some money under someone else's name. You also need to know how much money is being sent. So how do you keep track? That's where the blockchain comes in. It allows me to log all my transactions and verify that no one has tried to steal from me.
A blockchain can also allow me to write down who I am spending my money with, so if you ask me who I
We're not going to do this in a vacuum. We're going to be doing it in the same world as everyone else, where our competitors are already well established: Facebook, Google, Twitter, Uber and Airbnb. And we want to be competing for people's attention with those companies.
The problem is that you get one chance at getting your message across to people who are well into their twenties. If you've lost that chance, you're done. You can't build another chance. The market is effectively fixed at 26 years old.
Facebook has been trying to solve this problem with Facebook Live, which allows ordinary people to broadcast video around the world – but it's a very hard thing to do well, because even if you do it well some of the time it still looks bad most of the time.
What we're doing here is different – instead of trying to nail down the attention of young people, we're aiming for something more like capturing the attention of everyone over the age of 25.
In order for us to succeed, we have to break out of this age bracket and reach people who have been educated by Facebook and other companies – and they don't trust them anymore. They know that these companies are now people's primary sources of news: they
When you want to make money, what you are doing is taking risk. But this is not obvious. You can do the same thing with a share of IBM. You can buy IBM stock and put it in your mattress, and then in a few years it will turn into money. Or if you've bought shares of IBM when it had no value, and hold them until they become worth more than their paper value, then you'll get most of your money back.
But that's not actually how it works. In fact, it isn't even that risky. If you have a billion dollars' worth of IBM stock, and at the end of the year the share price goes from $100 to $100,000 – that's $100 per share – then you have lost a billion dollars' worth of IBM stock but gained a billion dollars' worth of money. And since your bank account still has the same number of dollars, you haven't lost anything at all.
More Information :
Website: https://quarashi.network/
Telegram: https://t.me/quarashinetworkofficial
Twitter: https://twitter.com/QuarashiN/
Reddit: https://www.reddit.com/user/Quarashinetwork
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