Bob’s Gem Of The Day 9: Haven Protocol (XHV) Offshore Banking In Your Pocket!
Gem of the day 9 – Haven Protocol (XHV)
All time high price:
$6.25 (April 25th 2018)
Haven did not have an ICO. It is a fork of Monero.
What is Haven Protocol?
An ecosystem of multiple fully decentralized and private stable coins that can be stored in a Haven wallet which can be seen as a private and decentralized multi-currency bank account for everyone.
How is Haven different from Bitcoin?
Haven is not based on Bitcoin but on Monero. It is based on the CryptoNote protocol. Bitcoin is a completely transparent system, where people can see exactly how much money is being sent from one user to another. Haven hides this information to protect user privacy in all transactions. It also has a dynamic block size and dynamic fees, an ASIC-resistant proof of work, and a tail coin emission, among several other changes.
How is it different from other coins?
Haven is based on Monero and shares the same privacy features including:
Ring signatures, Ring Confidential Transactions (RingCT), and stealth addresses. These hide the sender, amount, and receiver in the transaction, respectively. All transactions on the network are private by mandate; there is no way to accidentally send a transparent transaction. You do not need to trust anyone else with your privacy.
Who is behind Haven?
Haven is a non profit open source project. It’s built by a community of volunteer developers that believe financial privacy and financial sovereignty is a human right.
Haven is not a private company funded through an ICO or pre-mining. All of the development work is funded by the developers and community donations
Why I like Haven:
- Essentially it’s an offshore bank in your pocket.
- Be your own bank
- A privacy coin redeemable for a Dollar, Euro, Swiss Franc with more to come
- Rumoured to be listed on binance very soon.
- Currently being shilled by some well known faces on twitter.
- With Haven you get the price stability of a bank account combined with the privacy of a cryptocurrency
- Your stored fund remain private, in your full control and stable in price.
- It’s superior to a bank account because it is multi-currency, completely private & free of the bind of centralised agencies.
- Traders can use it with no third party involvement
- In the future it could become a storage of wealth (rather than a payment option)
- Haven Protocol’s stablecoin XUSD is expected to be available for trading on exchanges in Q1 2019
- Multi-currency Support. New stablecoins will be added to the Haven Protocol network in Q2 2019. These include: XEUR, XCHF & 6 more. They will also be available for trading.
- Still not enough liquidity in Haven to make it a long term trusted home for ‘offshore’ funds. Liquidity must come through constant improvement of the product, listing on top exchanges and real world adoption
- Short term risks are that the price has 5Xed. It may be wise to let the price cool off a bit, but it really is hot right now
I really love the idea behind Haven. This really shows the crypto market is maturing. A offshore bank in your pocket. I love the concept. Time will tell if this has got the legs to stay the course in this most competitive of markets. Watch this space!
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