Qredo Price Prediction: How High Can Qredo Crypto Go?

Qredo is a decentralized infrastructure platform designed to facilitate secure digital asset custody and settlement, offering the security of cold storage with the flexibility and efficiency of hot wallets.

Qredo was founded in 2018 by Anthony Foy and Brian Spector with the aim to cater institutional investors, offering features like compliance tools, governance mechanisms, and secure key management. This includes features like detailed audit trails, multi-signature approvals, and adherence to AML (Anti-Money Laundering) and KYC (Know Your Customer) regulations. 

Qredo uses advanced cryptographic techniques, specifically Multi-Party Computation (MPC), to ensure secure key management without the need for a single point of failure. This method enhances the security of private keys by distributing their computation across multiple parties. 

Multi-party computation (dMPC) distributes shards of private keys across network nodes. These dMPC nodes collaboratively sign transactions without ever reconstructing a private key in a single geographic location, significantly reducing the risk of private key theft or loss.

The use of MPC allows multiple parties to jointly compute functions over their inputs while keeping those inputs private. This technique is central to Qredo’s approach to secure key management and transaction authorization.

The Qredo Network operates as a Layer 2 solution, enhancing the scalability and speed of transactions. It offloads transactions from the main blockchain, reducing congestion and fees while maintaining security.

The platform supports cross-chain interoperability, allowing assets to be securely settled across different blockchain networks. This is crucial for institutions needing to move assets between various blockchains without compromising security or efficiency.

Qredo provides robust governance frameworks, enabling institutions to enforce multi-signature policies, conduct audits, and comply with regulatory standards. This is essential for institutional clients who need to adhere to strict compliance requirements.

In a significant leap towards enhanced security, Qredo transitioned its validator nodes to Trusted Execution Environments (TEEs) on the cloud, marking the first step towards achieving multi-cloud decentralization. By utilizing state-of-the-art TEE technology, Qredo ensures that operational data remains protected from third-party access, including Qredo itself, thereby amplifying the privacy and security of users’ digital assets. This transition aligns with Qredo's ethos of decentralization and also enhances the performance, scalability, and resilience of the Qredo Network.

Despite its complex backend, Qredo aims to offer a user-friendly interface for managing digital assets. This includes dashboards for tracking assets, managing transactions, and enforcing security policies.

Qredo actively engages with its community through various channels, including social media, forums, and events. This helps to build a strong, supportive user base and fosters collaboration and innovation.

Qredo has its native token, QRDO, which is used within the ecosystem for governance, staking, and incentivizing network participants. The token plays a critical role in maintaining the security and decentralization of the network. QRDO is an ERC-20 asset with a total supply of 2 billion. 

In 2023, despite a temporary market lull before its resurgence, Qredo experienced remarkable growth, with network activity increasing by 86.58%. Transactions rose from 895,138 in December 2022 to a cumulative total of 1,670,121 by December 2023. Additionally, the number of unique wallets saw significant growth, jumping 56.49% from 76,577 at the end of 2022 to 119,835 by the end of 2023.

Adding to the sustainability of the Qredo ecosystem, the introduction of the burn mechanism in QRDO token protocol fees ensures an additional layer of value and long-term viability. A total of 405,905,186 QRDO tokens were burned through two mechanisms: governance-voted burns and protocol fee-based burns.

Qredo's dedicated efforts have driven the ongoing development of the Fusionchain testnet, paving the way for a future blockchain that introduces self-custody primitives. This innovation allows third-party developers to create independent self-custodial applications.

Recently, ​​in 2023, Qredo introduced a new API suite. This revamped API addresses existing challenges and provides a versatile toolkit that not only mirrors but also expands upon the functionality of the Qredo Web App. It enables a more comprehensive and efficient way to custody assets programmatically and interact with web3. The API is built upon three guiding principles: Uncompromising Security, Web3 Connectivity, and Resilient Scalability.