QENETEX: A DECENTRALYZED DIGITAL WALLET FOR ALL YOUR CRYPTOCURRENCY NEEDS
The growing popularity of cryptocurrency will surely require many innovations aimed at making the use of cryptocurrency a better option to the conventional payment systems. One may think that there is already enough cryptocurrency and related projects to meet all the expectations of the founders of this amazing technology. Well, there is element of truth in that, however, so long as we have not completely achieved mainstream adoption of cryptocurrency, there is still a lot of work to be done in the blockchain industry.
Nevertheless, cryptocurrency, as of today, has demonstrated numerous advantages over conventional payment systems in the areas of cross-border transaction, access to financial services to all, reduced cost of transaction and the elimination of too many middlemen and cumbersome procedures. Unfortunately, many people and even some governments are still very skeptical about cryptocurrency, using security, privacy, volatility, scalability and many other factors as reasons. Funny enough, some call cryptocurrency outright bubble! Well, their fears and concerns are understood because it is not everyone that is open to change, besides, the big pockets will not want their firm control of the world’s economy to be threatened.
The best way to clear the doubt of cryptocurrency skeptics is to create blockchain innovations that solve all the identified problems and prove that cryptocurrency and indeed the blockchain technology is truly a better option of doing things to the conventional system. One area to make this possible is in the cryptocurrency wallet (bank of cryptocurrency). We shall examine where we are today in this regard and what more needed to be put in place to take us to where we need to be.
THE PROBLEM WITH MANY OTHER CRYPTOCURRENCY WALLETS
There are many problems associated with most of the cryptocurrency wallets in existence today which further confirm the fears of cryptocurrency skeptics. Notable among them are the following:
1.??????Centralization: Many of the cryptocurrency wallets are heavily centralized. The challenge with this is that the users are not really in control of their funds. If you have used a cryptocurrency wallet that does not give you access to your private key, then you probably have been using a centralized cryptocurrency wallet. ?The danger of this is that unfaithful staff of the company can connive with others to steal funds of users. It is even stated that centralized cryptocurrency wallets are worse than the conventional banking system because while there is regulatory framework for the later, there is yet to be any for the former.
2.??????Multiple wallets for different asset classes: There is hardly any single wallet in which you can store different asset classes. Users must resort to using multiple wallets for different asset classes and uses. This is indeed stressful and can lead to security concerns.
3.??????Complex and Unattractive user interface: Many cryptocurrency wallets in operation today are complex and require special training and practice to be able to use them properly.
4.??????Security: We cannot pretend not to know that centralized systems are target of attacks by hackers. This exposes centralized system to attacks and further confirming the fears of cryptocurrency critics.
THE QENETEX SOLUTION
Seeing the weaknesses of cryptocurrency wallets in operation today, Qenetex has gone ahead to build a cryptocurrency ecosystem that solves these problems with additional functionalities to make the storage and usage of cryptocurrency secured, seamless and fun. Qenetex platform is decentralized which is the key to transparency. What this mean is that, you are in control your funds. In addition, there are remarkable rewarding systems attached to using the Qenetex platform. We shall explore some of the features of the Qenetex ecosystem.
FEATURES OF QENETEX WALLET
1.??????Cross-Chain Compatibility: Qenetex allow the storage of multiple assets built on different blockchains and users will enjoy the flexibility of cross-chain compatibility.
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2.??????Security: As stated earlier, the Qenetex platform is decentralized, this by itself provides greater security than the centralized wallets. Further to this, other measures will be integrated to essential efficiency and safety of the platform. Some of the measures include but not limited to Cold Storage Feature which have wallets with private keys generated offline, Multi-signature P2PS which is like a safe that requires two different keys to access with a third one saved elsewhere thereby making it difficult if not impossible for attackers to access, Google 2factor authenticator which is effective and very popular already.
3.??????Swap Feature: With this, users can exchange cryptocurrency within the Qenetex ecosystem without having to send to external exchanges. This saves time, money and eliminates risk of asset loss.
4. Bulk Sending : Qenetex allows bulk sending of transactions at a single transaction fee. This is something unique and new that will transform the entire cryptocurrency transaction.
5.??????Mobile and Web Wallet: ?Qenetex will develop both Mobile and web wallets.
QENETEX NATIVE TOKEN (QEX)
The Qenetex platform have a native token that will govern operations within the ecosystem. There are many benefits that is attached to holding the token as it powers the entire Qenetex ecosystem. Holders can stake, farm and enjoy a lot of rewards and incentives for holding the QEX token. The token sale is planned for the near future?and whitelisting can be done from their Website.
CONCLUSION
When considering projects to be part of, it is important to envisage the demand for the services they offer as this is what will drive the demand. As can be seen, the Qenetex ecosystem will be a favorite choice for all cryptocurrency users when fully deployed. I therefore, have confidence that an investment in this project will yield good return for the long term.
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Forum username: nattykio
Wallet Address: 0xE39ef77DD8de63Fed9B4E4D920AD0c6F1A2c0948