Quoine Platform And Qash Coin Offers Superior Financial Services on Blockchain
Quoine is a unique platform that offers solutions to the liquidity problems emerging in certain cryptocurrencies. On the same vein, Qash, pronounced cash, is the native currency of this platform.
The root of the problem lies in the fact that most people treat cryptocurrency as an investment. As a result, hoarding of coins in the hope of trading when prices rise creates liquidity issues. This makes trading involving most altcoins difficult as you have to execute inter-exchange transfers involving three way trades.
Quoine is the brainchild of Mike Kayamori who doubles up as the CEO and Mario Gomez Lozada in 2014. The company is based in Japan.
How Does Quoine Work?
First, note that Quoine is pronounced coin. This platform essentially gives users a means to easily buy cryptocurrency and cash out to fiat.
At the moment, exchanges have a certain level of liquidity that differs with trading pairs. What this means is that there are sort of liquidity silos where there may be excellent liquidity for one pair and hardly any for other exchanges. The Quoine liquid connects these silos to offer the highest amount of liquidity there can be.
There are two primary mechanisms to achieve this; the world book and the prime brokerage functionality.
So what are these? Well:
The World Book
It goes without saying that the LIQUID World Book is vital to the functionality of this platform. This is because it compiles the orders and prices deduced from analyzing exchanges globally into a single book. What this means is that a trader, even from a remote location, can purchase or sell crypto using the fiat currency of their choice.
This feature basically gives you access to the tools covered in the world book. As a result, you have access to the most of the world’s exchanges without necessarily having to sign-up with the respective individual exchanges.
Prime brokerage also gives access to credit lines and leverage trades contingent on your existing balances. This just goes to show how important it is to the Quoine ecosystem.
Understanding the Qash token
As you would probably guess, Qash is used to make payments on the Quoine platform. Notably, it is an ERC20 token and is the currency of the Quoine ecosystem. Notably, the best place to buy Qash is the Huobi exchange.
To summarize, the basic intention of Quoine developers is to bring additional liquidity into crypto-sphere. This is indeed a necessary and important functionality. The competent team behind it has put forward a great utility service that is fantastic for innovators and investors in equal measure. This is one coin that will be great for the entire coin industry and promote the blockchain innovation.