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Haven is an untraceable cryptocurrency with standard market pricing and a stable fiat store of value. It achieves this through a dual-token blockchain. Users can make Haven Dollars [XHVD] equivalent to USD value for Haven [XHV].
Haven is a fork of Monero, thus inheriting its famous invisibility and anonymity. Haven also has the benefit of bootstrapping the blockchain from scratch with RingCT for additional privacy. Additionally, Haven’s offshore storage smart contracts also allow privacy-conscious individuals to store money in an untraceable currency without being exposed to market volatility.
Offshore Storage
Haven does not need to rely on pegs to maintain a relationship with fiat currency and can trade at any value without affecting those who want to maintain the relationship. It does this through a built-in smart contract called offshore storage. Sending Haven to offshore storage (destroying) records the current fiat currency reference value on the blockchain, which can later be restored into Haven by minting new tokens to achieve the current fiat currency value.
Key use cases for offshore contracts are:
A point-of-sale system where goods can be purchased through Haven, where store owners can instantly lock in fiat value to protect against price fluctuations. This has the added benefit of keeping the store owner's business and income completely hidden on the blockchain as neither the store owner's wallet address nor the amount is revealed.
Store large amounts of money outside of the traditional banking system. Privacy-focused cryptocurrencies are perfect, but there is no reliable way to maintain value through volatility, and holding them can be expensive. Essentially, sending Haven overseas makes the funds disappear until you wish to get them back, at which point the value remains the same.
In order for cryptocurrencies to become mainstream, there must be a way to extract the exchange rate risk associated with holding currencies against fiat currencies. Once Haven is supported in the sales system and the process becomes automated, adoption will increase rapidly.
Offshore storage contracts will be implemented once the network reaches a stage of maturity and provides sufficient exchange support for redundancy and price accuracy. The current focus is on the growth, stability, privacy and usability of daily transactions through an easy-to-use mobile wallet app that anyone can use without the need for a cryptocurrency.
Untraceable Hidden Decentralization
Haven uses ring signatures, ring confidential transactions and stealth addresses, meaning payments cannot be traced or linked back to any user.
Wallet addresses and transaction amounts are completely obfuscated on the Haven blockchain, making all activity invisible.
Haven Protocol is decentralized and open source, which means there is no centralized control of the network. Nothing is reviewed.
Related link:
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