One of the biggest fears that users have of cryptocurrency is security, with hackers terrorizing the crypto marketplace and space, thus, scaring away top investors. However, with the introduction of the Qredo layer-2 protocol, the security risk is quelled and eliminated to the minimum. Now it’s high time to learn more about Qredo top-notch security, why it is dubbed a “radical new infrastructure” and how you can swap QRDO at the best rate.
The Qredo protocol design features a decentralized layer-2 network with governance controls and compliance built-in to its consensus mechanism. In addition, the existence of the layer-3 decentralized communications plane allows duplication of conversations across every peer instantly with end-to-end encryption for security and privacy.
To accomplish a full decentralization of private key management, the Qredo team came up with an innovative idea of leveraging MPC across a blockchain for the creation of decentralized custody.
In practice, crypto-asset holders are recorded on a distributed ledger, while utilizing a consensus-driven multi-party computation protocol to securely sign transactions. This innovation enables the transfer of portable ownership rights across chains on a layer 2 network without exposing the transaction to counterparty risk.
All being said, this innovative network led by Qredo crypto provides an opportunity for centralized custodians to escalate their business and maintain relevance in the decentralized setting that is more prevalent these days. This way a centralized custodian is able to use its existing infrastructure to operate Qredo clients, generating custodian approval transactions. The result of this operation is offering personalized programmable governance and compliance flows to their customers.
Qredo can best be described as a delegated Proof-of-Stake-based blockchain system, where the voting power is represented in Qredo tokens (QRDO). Holders are also opportune to stake their tokens through a validator for some share of the rewards gained from validating new blocks.
Some of the unique features of Qredo’s layer 2 include cross-chain liquidity and lightning-fast settlement. Thus, providing institutions with more options for proper utilization of their crypto as the world steers towards the multichain universe.
Over the years, institutions hoping to expand their cryptocurrency presence have had no other choice than to work with flawful solutions for the purpose they are aiming for. With Qredo’s new fundamental framework, three key areas are addressed:
Multi-party computation introduces a new standard in crypto security by eliminating private key risk. For nearly 50 years since public-key cryptography came around, MPC appeared as the biggest cryptographic breakthrough in the crypto space in recent times.
Back then, Satoshi’s approach to cryptocurrency was making Bitcoin transactions trustless. However, the introduction of centralized methods of managing private keys brought back trust in the crypto space.
Many billion-dollar security breaches have occurred as a result of storing sensitive keys in databases and shoving them offline on hardware and paper wallets. However, bringing about soloed liquidity and market fragmentation, where assets are locked away only provides limited security. Besides, these assets can’t be deployed readily in the Defi ecosystem.
Thanks to Qredo crypto, private key problems have been rectified with its standard new blockchain framework. Qredo token infrastructure does not require private keys to manage the ownership of digital assets. Instead, its trustless implementation of multi-party computation in play provides a versatile way of signing transactions, which meets institutional governance and security needs.
The Qredo blockchain also incorporates interoperable layer-2 networks., acting as an immutable asset registry to allow instant cross-chain settlement between previously soloed blockchains and platforms. Lastly, the incorporation of a layer-3 decentralized communication network aims to support encrypted trade negotiations while attaching information to transactions.
Brian Spector’s (Qredo co-founder) hypothesis in early 2018 states that fragmentation in the crypto space originated from the management of private keys. So, for eighteen months, the Qredo team toiled and worked to come up with a layer 2 consensus-driven MPC concept. This concept removes the dependency on private keys for managing the ownership rights of digital assets.
The Qredo network utilizes multi-party computation to create segregated deposit addresses. Thus, eliminating the risk of private key theft as MPC signs transactions through a consensus-driven workflow. It does not require centralized private key storage to assure its security.
From the consensus layer to the digital asset and economic security design, the Qredo protocol was designed to perform on the condition that the entire network is the vault. At the same time, it eliminates all counterparty risks for liquidity providers, market makers, and traders.
With all deposits and holdings pegged as 1-to-1 to the underlying layer 1 blockchain, they’re also visible for confirmations via the Qredo block explorer.
If you are looking for a good Qredo crypto exchange platform, we recommend that you try Swapzone. Swapzone doesn’t require any account registration, neither does it charge hidden fees. Therefore, you can skip all the hassles of jumping through hoops and get straight to the point. Using Swapzone is very simple, even for beginners. Here’s how you can buy QRDO on Swapzone:
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.