On this page we discuss Port Protocol. Privacy goes hand in hand with the rise of cryptocurrency. Not only is our privacy frequently ‘violated’ by large tech companies. Our money is also closely monitored. If you ask me, this is not only negative, although the option to do anonymous transactions is now missing.
There are many people who therefore need an anonymous alternative and this is what Haven Protocol is working for. In this article we therefore look at the techniques that make this possible. For example, we will discuss the Haven Protocol coin, the historical price and the Haven Protocol forecast. What will the Haven Protocol crypto do?
What is Port Protocol?
Haven Protocol is a privacy token created on Monero. It is made with all the privacy features of XMR such as ring signatures and Bulletproofs. In addition, Haven Protocol has continued to work and it is, for example, possible to have anonymous synthetic cryptocurrency on the platform.
Synthetic cryptocurrencies are issued crypto coins that represent an underlying crypto. A synthetic crypto on Haven is referred to as xAsset. For example, by burning XHV coins you can create an anonymous synthetic Bitcoin on the platform, xBitcoin.
The same goes for the anonymous stablecoin dollar, the xUSD. In its own words, the first anonymous stablecoin in the world. It was launched on July 20, 2020. After the xUSD, many more anonymous stablecoins based on other currencies are to follow.
XHV is sent from a user’s wallet to a smart contract (“offshore). The value is retained during the transaction time because it is registered as a fiat value. Any changes in price are corrected using a token burn.
New tokens can also be added by the protocol as soon as this is necessary to get the correct token value (minting). This mechanism is called burning & minting. Due to this mechanism, a total supply cannot be indicated. This is constantly changing to maintain and regulate value.
Port Protocol can therefore be used to retain the value of, for example, goods or stored money. You send your funds ‘offshore’ to the smart contract and receive proof that you have deposited money in the form of xAssets. The moment you want to record this again, the protocol knows exactly how much value it has to pay out and adjusts the supply accordingly.
What does the Port Protocol course do?
Haven Protocol was not created from a token sale. A block is mined every two minutes, with the winner receiving the block reward and thus Haven Protocol coin. Just like with Bitcoin, there is a halving and this has been going on since the start of the project.
The first listing can be found on April 24, 2018. Investors could then buy the Haven Protocol crypto for $ 6.50. We see that the price can rise significantly during the bull markets as can be seen on the chart in 2021. The current Haven Protocol price is $ 0.529203.
The highest point of the value is at $ 28.90 (April 16, 2021). That has been 474 days ago. At the start, the project had no value, but the market cap is now up $ 7,944,252. With this, it occupies 981 place on the list of most valuable crypto projects.
Port Protocol forecast 2022 – 2027?
Let’s start by saying that Haven Protocol is an interesting project. There is simply a lot of demand for anonymity, especially in the crypto world. The developments that are being done there therefore only seem to become more topical as time goes by. In addition, an anonymous stablecoin, the xUSD, is an exciting development that may contribute to a high XHV price.
It should be mentioned that privacy coins are not that popular with regulators. Recently, for example, DASH revealed that it is not a privacy coin, although they have become big with this. This may have had to do with the regulators chasing Monero. Also, the Haven Protocol team is anonymous, although you might expect this from a privacy project. However, it entails dangers because of course you do deposit money on the smart contracts.
All in all, the Port Protocol outlook appears positive for the future. Many people have a need for anonymity on the internet. Not only on social media, but also with their money. This includes making anonymous payments to companies that nobody needs to know about, but also storing your money.
Historical Price for Haven
Where to buy XHV?
Does Haven Protocol seem like an interesting project to invest in? Then you can buy XHV on some exchanges, including Bittrex. You can read more about the Bittrex exchange here.
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The latest Port Protocol news
Hopefully I was able to tell you a little more about Haven Protocol and the important factors on this page. The use case and focus on privacy are interesting to consider when researching the Haven Protocol expectation. The last factor is the Port Protocol news.
By following this closely, you will be one of the first to see which (major) changes are about to take place. The sooner you see this, the better you can respond to it! In any case, we recommend that you follow the twitter page carefully. This way you can immediately see how active the team is.