Introduction
Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, Paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc.
An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant’s database). It basically defines the conditions to which all parties using the contract agreement. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries.
For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
Furthermore, market now demands for ability to hedge crypto assets for a short period of time to acquire other Crypto holdings. For this reason, the project I am going to present you is BQT, a new cryptocurrency project that will introduce the revolutionary approach allowing traders to leverage their crypto holdings to acquire crypto assets from other peer traders.
Cryptocurrency Market
At present, many projects have emerged to provide products and services that facilitate the use of cryptocurrency for mainstream users and build infrastructure for applications running on blockchain. There are four key cryptocurrency industry sectors: exchange, wallet, payment, and mining.
Currently, there are hundreds of cryptocurrency traded with the number of unique users who are actively using the cryptocurrency wallet estimated to be between 2.9-5.8 million.
Cryptocurrency Exchange
Exchange is one of the first services to emerge in the cryptocurrency industry. Exchange plays an important role in the cryptocurrency economy by offering markets for trade, liquidity and price discovery. Crypto exchange provides services to buy and sell cryptocurrency and other digital assets for national currencies and other cryptocurrencies.
P2P Broker Exchange
P2P exchanges have not gained more popularity but there are still only 2 of 51 P2P exchanges that provide a decentralized market for exchanging cryptocurrencies. Currently, Localbitcoin and Plaxful dominate the BTC P2P Exchange market worldwide.
In the last few weeks of March 2018, Localbitcoin and other P2P exchange trading volumes have witnessed a surge in volume (75 million USD per week) on various markets.
The advantages offered by P2P Exchange include:
- People deal with people. This provides unmatched flexibility in a decentralized trading environment.
- Ability to negotiate with people directly, rate, and share their trading experiences.
The BQTX Token
Running an ICO is useless when your tokens/coins don’t have any utility on your product. Rest assured, this won’t happen in BQT. BQTX is an ERC20 utility token on the BQT platform. In order to use BQT, you must have BQTX, because trading fees are only payable via BQTX tokens. This will create a high demand for BQTX tokens, especially if the platform is massively adopted. By ‘forcing’ every’ user to get BQTX tokens, the values of BQTX will increase along with its adoption.
The BQTX token can also be used as the main collateral or additional collateral for hedge trading. By doing so, users can choose to use BQTX rather than using their other cryptocurrencies. Because 50% fees from the BQT platform is shared quarterly to top traders and referral affiliate partners, I can say for sure that the demand for BQTX will also high, because everybody who wants to get the share must have a high trading activity and refers other users to this platform, which in turn increase the demand for BQTX tokens.
There will be a lock-up period. Up to 600 million tokens will be frozen by BQT and it will be released up to 10% per year if demanded necessary for expansion, marketing, and loyalty programs. The team and management will reserve up to 20% of the tokens and it will be locked up for 3 years. This will create a scarcity at first so it will help to stabilize, and possibly increase the price gradually. Rest assured, the team looks very committed to this project.
BQT SYSTEM WORK-FLOW:
BQT P2P Platform utilizes secure and decentralized benefits of the Blockchain delivering flexible functionality for Traders world-wide.
Every module and database is programmed using various methods of encryption and en-sures confidentiality and protection for Traders. 2FA configuration is a required setting for every Trader Profile.
BQTX-TOKEN STRUCTURE
· 200,000,000 BQTX TOKENS WILL BE ISSUED DURING ICO *
· 800 BQTX TOKENS = 1 ETH
· Total 800,000,000 Tokens Authorized, 200,000,000 Tokens Issued during ICO, 600,000,000 tokens will be frozen and would only be released as needed for company expansion, mar-keting and loyalty programs to maintain token liquidity (up to 10% per year).
Distribution of funds
Roadmap
TEAM AND STRATEGIC ADVISORS
FURTHER INFORMATION
WEBSITE | WHITEPAPER | TWITTER | TELEGRAM
Author : melany.yulantika
Eth: 0x060b2C56B8cb13f7dfe0f29e2219CB23Eab9E029
Melany Crypto 