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Qredo (QRDO) is the 1287th largest cryptocurrency in the world by market cap, valued at $197,740,000. The current price of Qredo is $0.09887, which is -5.460% lower than yesterday. Prices have ranged between $0.10773 and $0.102117 over the past 24 hours. All prices are listed in US dollars and accurate as of March 28, 2023 01:03 UTC.
Qredo is a layer-2 decentralized cross-chain liquidity network built for blockchain interoperability and the secure transfer, and ownership, of digital assets. Focusing on decentralized finance (DeFi), the Qredo Network offers to solve many of the issues that stem from a lack of liquidity within the market.
Unlike traditional markets that enjoy the liquidity that comes with larger financial institutions, DeFi applications can sometimes suffer from liquidity issues. Larger financial institutions have been cautious about placing funds into DeFi due to the counter-party and ownership risks associated with the sector, which means the liquidity in DeFi is still far from the liquidity seen within other markets. This is what the Qredo Network aims to solve.
According to the project’s website, the network offers institutions an alternative to centralized custodians that offer a cold wallet solution to gain access to the world of cryptocurrencies. However, using custodian cold wallets requires obtaining permission from the custodian each time a transaction needs to take place. With the Qredo Network, individuals and businesses can utilise multi-party computation (MPC) technology, that allows seamless trusted interaction with a host of decentralized applications (dApps), across a range of different blockchain networks. Using a Qredo wallet, all transactions are sent to the Qredo internal infrastructure which acts as a buffer layer between a user’s funds and a dApp hosted on a layer-1 blockchain network. After the Qredo network has verified the authenticity and accuracy of all information, the transaction can be completed within the chosen dApp and processed on the corresponding blockchain.
QRDO is the native utility and governance token of the Qredo ecosystem and was designed to reward all network participants. QRDO is required by all token holders that wish to become a validator and must be used for all transactions that take place within the network.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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