Bitquence: for everyone...

flurin (53)in #cryptocurrency • 7 years ago

We make cryptocurrencies easier to purchase and transfer allowing the average individual to participate in the New Economy.

That their slogan on their website.

Ranked as the 66th most popular cryptocurrency Bitquence rised it's value for 40% over the last week.

We believe in the philosophical mission established by Satoshi Nakamoto. By creating a secure layer that is accessible to the average person, we put the power in the hands of the people – where it belongs.

But what is Bitquence?

Ripple meets PayPal: Bitquence enables a crypto currency wallet which makes transactions between blockchain assets easier. They want to create a wallet where you can exchange your different coins with each other.
They want to make it easy to diversify your assets into different coins by buying "baskets" of coins (many different coins in one purchase). This should make your value safer as it is less influenced by the market (i.e. if your holding just one coin it affects you more when this specific coin gows down in value than when you split your value into several coins).
POS system (proof of stake): tokens you have in your wallet help keeping the network safe as they validate other transactions (and you get little rewards for helping keeping it safe).
Instant value transfer: it's very easy to send the BQX token as they are mobile and free to send to any phone number or e-mail adress. (--> mobile wallet)

So they want it to make easier for normal day user of cryptocurrency to hold different currencies in one wallet. They also want to make the transactions between these currencies much easier. You might have heard of EXOUDS, a really neat wallet for several coins. This might be similar, but on your phone!

How does it work?

On their platform you can purchase different so called "baskets of coins" with your cryptocurrency. These baskets can diversify from "gib cap coins" (ETH; BTC) or "privacy coins" (Zcash, Monero) or "Community coins" (madesafe, nem). So you can invest across multiple cryptocurrencies with their so called "one click diversification". They also provide a cold wallet (offline wallet).

The Bitquence tokens are used for GAS ( for transactions and storage) which keeps costs for transactions low. They also see a possibility for merchants to put a QR Code on bills which can be paid with a phone and with a certain cryptocurrency (somewhere in the future).

GOAL

They want to make it easy for people to transfer coins quick and low-cost and safe through easy accessible ways (e-mail, phone) to make this new economy easy to use.

I think that sounds like a decent idea. The only thing I don't like is the website, but I guess thats just personal impression. I don't know if I myself invest in Bitquence, but the idea definitely has potential. There will be the need for a wallet that can store different cryptocurrencies and make an easy exchange between them possible. Let's keep our eyes on them.