Hey everyone! I hope all is well and it looks like we can finally post again. I know this hardfork has kind of messed with my routine, but we are back on track. I have done some reviews and talked about some interesting cryptocurrency projects in the past, but it has been awhile since I have talked about any of the projects that have been popping up lately. As we know, there are so many of them that it can be hard to keep up and sort through which ones we feel win be a winner in the long run. So today I am going to deviate from my usual posts about homesteading and precious metals. Instead, I thought I would talk about another interesting project that I have come across in my research and is my submission to one of their giveaways. The project is called Qubenet.
Now some of you may be asking, “What is Qubenet and What is their project all about?” Well, Qubenet is planning on being a lot of different things. In a nutshell, and this is coming directly from their website, it is an Open-Source and Decentralized Exchange, Peer-2-Peer Marketplace Crowdfunding platform and fiat to crypto gateway, and a trading platform with instant transactions. While this little snippet of information does intrigue me and will give me an idea of where I think the team is leading the project, there are some other aspects that I think makes this coin very different from others.
To give a brief overview of specifics, the symbol for Qubenet is QUB and it is currently listed on the exchanges Crex24 and Cryptaldash. The maximum supply for this coin is 20,000,000 and the block time is every 2 minutes. The rewards for masternodes is 5000% for the first two months and then drops down to 500-400-300-200% over the next couple of months. After that, the reward is 50% for the next 6 months then drops down further over the next couple of years. Also, it is a cold staking wallet or you can stake your coins on the site stakinglabs.io in their staking pool if you do not have enough collateral quite yet for a masternode. The funny thing is I first heard about the Qubenet project while participating in what was called a Carnival Giveaway of several coins being hosted by stakinglabs.io.
One of those things being that Qubenet, or QUB, is a masternode coin with Bitcoin Core V0.16 + POS. Now lately, I have been really drawn to masternode projects. I like the idea of earning passive income from the masternodes and holding them until a later date to make a decent profit. Which is another reason why I like projects like this one. By holding the coin in masternodes and staking, the supply of the coin is lower and if there is a great demand, the price can get very high. Which is a big reason why most of us are into cryptocurrencies early, to make a lot of money.
To go further down this road, the thing that I probably find the most interesting about this masternode is that it is the first coin I have seen with a variable masternode collateral. Now, when I first heard this, I was not entirely sure what that meant or how it would work. Usually, a project will require a set number of coins for a node, but this project’s collateral ranges as low as 2,000 coins up to 10,000 coins and everything in between. This would allow some individuals to buy small node all the way up to big ones. It would eliminate the need to create and join a shared node.
Some of the other interesting aspects about this project include end-to-end encrypted chat, 2 party trustless escrow, and voting governance. With the encrypted chat, all encryption comes from the client side and any messages that are sent off chain. It will act in a similar manner to some other popular apps, like Whatsapp. Then the 2 party trustless escrow which eliminates the need for 3rd party and has things set in place to prevent either party from getting scammed when conducting business or transactions. Finally, the voting governance has to parts to it: Platform Governance and Privacy Governance. These are to protect against illegal goods and providing privacy for the users.
There are still some developments currently in progress and it is very early in the projects life. Some things to come this year are the decentralized marketplace and cold staking & Atomic Swaps LIVE. Then there are the things that are planned for the first half of next year. These developments include a trading app, Instant MicroPayment, the crowdfunding platform, a decentralized payment gateway to trade fiat to cryptp, and an automated algorithm for trading. So needless to say, they have a lot of work ahead of them and I am looking forward to seeing this project develop further.
They have an active discord and are very helpful when you have any questions. I would encourage you to go and check out their discord with the link below if you have any questions. Also, if you sign up for their discord server they are running several different giveaways and bounties for free Qubenet. Some of these bounties include commenting about Qubenet at Bitcointalk and posting a screenshot, voting for Qubenet on aiodex and also posting a screenshot, a discord invite bounty, and an article bounty where you can write an article on either the Steemit or Medium sites and posting the link in the correct channel on their discord. This is my article for the writing bounty and if you are interested I would act quickly. Last I check, there are only 6 spots left for this bounty. The rewards for such are 200 QUB for a 1000+ word article, 100 for a 500+ word article, and finally 50 QUB for a 200+ word article.
As with any cryptocurrency I write about, I encourage you to do your own research before buying anything. I am not a financial advisor and the writings above are only my reactions to a newer project. If you are interested please check out their website for more information.
Thanks for reading and stopping!
Discord Link: https://discord.gg/A5dkEWb
Stakinglab.io reference Link: https://pool.stakinglab.io/ref/23a282d49b
Qubenet Website: https://qubenet.io/