TRON Foundation, one of the largest blockchain protocols for decentralized applications, is joining the ALS Association for #VoiceYourLove, an awareness campaign to find treatments and a cure for people afflicted with amyotrophic lateral sclerosis, also known as Lou Gehrig’s disease.
The #VoiceYourLove campaign, kicking off in time for Valentine’s Day celebrations of love and affection, challenges people to use their phone or tablet to create a video expressing love for people who’ve been mea`1ningful to their lives – whether that’s family, friends, colleagues or even strangers. For those who wish to donate, voiceyourlove.org is the official campaign website.
“I’m proud to be working with ALS Association to raise money and awareness for a terrible disease,” said Justin Sun, founder of TRON and CEO of BitTorrent. “The TRON and BitTorrent community has over 100 million people, and it’s statistically possible that thousands of you are afflicted with ALS. In your honor, I’m donating $250,000 and urging others in the blockchain industry to voice their love by donating to help find a cure.”
Sun joins actors Renée Zellweger and Courteney Cox, who are among the first celebrities to join the campaign. Voiceyourlove.org, which hosts the celebrity videos, helps the community learn how to get involved, and serves to accept donations. People are encouraged to post their videos to favorite social media channels with the hashtag #VoiceYourLove and to tag friends and encourage them to join the #VoiceYourLove campaign.
“The ALS Ice Bucket Challenge became a global media phenomenon in 2014, and continues every summer,” said Brian Frederick, executive vice president of communications at the ALS Foundation. “Our new #VoiceYourLove campaign, conceived with our partner TRON, is a new awareness and fund-raising drive that combines cool heads and warm hearts.”
ALS is a progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord. Over the course of the disease, people living with ALS lose the ability to move, to speak, and eventually, to breathe. ALS is always fatal, usually within two to five years of diagnosis.
As part of the campaign, TRON plans to use the distributed ledger technology of blockchain to track where donations are disbursed, with the goal of providing a platform for more transparency into recipient charitable organizations. The company plans to release that information upon completion of the campaign.
To learn about a very personal story that drove TRON to get involved with The ALS Association and helped conceive the idea behind #VoiceYourLove, please visit the BitTorrent Blog.
About TRON and BitTorrent, Inc.
Founded in 2004, BitTorrent, Inc. is the largest decentralized peer-to-peer network in the world, with over 100 million active users driving 22% of upstream and 3% of downstream traffic globally.
TRON is dedicated to creating a boundary-free internet that inspires innovation across industries. TRON, one of the largest blockchain protocols, offers high throughput, high scalability, and high availability for all Decentralized Applications [DApps]. The ecosystem is governed by Super Representatives and the community.
About The ALS Association
The ALS Association is the largest private funder of ALS research in the world. The Association funds global research collaborations, provides assistance for people with ALS and their families through our nationwide network of chapters and certified clinical care centers, and advocates for better public policies for people with ALS. The ALS Association builds hope and enhances the quality of life while urgently searching for new treatments and a cure. For more information about The ALS Association, visit our website at www.alsa.org.
The ALS Association
What is USDQ and Q DAO?
In this article, Slava Zheltov shares about USDQ, a unique decentralized stable coin that makes it easy to collateralize Bitcoin. As a Blockchain Architect at PLATINUM ENGINEERING, Slava acts as a full-stack front-end developer.
Within his team, Slava is known for impeccable track record regarding security and reliability in projects, which he’s contributed to. Read this article and start learning about a decentralization wave, currently disrupting stable coin.
The thought of your bitcoin and other cryptocurrencies fluctuating in value almost on a daily basis is a hard thing to accept. But fluctuation also affects regular money as we know it.
If we want cryptocurrencies to become the future of money it should solve the issue of volatility first. The USDQ Token is a proposal to stabilize crypto and transition it from being a speculative asset to a functional store-of-value.
First and foremost, USDQ is a cryptocurrency stable token. Like Tether [USDT]. This essentially means that its price is stabilized or “pegged” to the US Dollar. The Q DAO platform, on the other hand, is a smart contract platform built on Ethereum. The smart contract mechanism used is referred to as Collateralized Debt Contract.
This cryptocurrency is supported by any Ethereum account and is also compatible by any smart contract developed to use the USDQ exchange function. It is more steady than most non-fiat currencies available on account of this mechanism of valuation.
Where does the USDQ value originate from?
The value of the USDQ stable coin is linked to the Q DAO smart contract platform using the Collateralized Debt Contract [CDC]. This means that anyone can choose to use their own assets, in this case, bitcoin [other top 10 crypto assets will be added in future], as collateral which works as a guarantee.
This is made possible by the smart contract platform. The collateral assets are locked after being deposited into the Q DAO smart contract platform and allows the owner to generate USDQ stable tokens in return while at the same time creating debt for the same owner.
This debt is necessary because it helps to maintain the collateral inside the smart contract until it is fully repaid by the amount of USDQ tokens it originally generated. When the repayment occurs then owners of the collateral can withdraw and receive their collateral back.
The ecosystem and economy of the Q DAO platform and USDQ Token directly links both of these to the amounts being used as guarantee or collaterals.
When more users request USDQ stable coins the total amount of Collateralized Debt Contacts [CDC] will increase along with it because it is the main way to obtain USDQ stable coins. This, in turn, increases the value of Q DAO tokens. These tokens are the last component of the USDQ ecosystem and they are Ethereum based tokens whose main use is to carefully manage the operations of the fund via means of a Decentralized Autonomous Organization [DAO] system.
This includes voting rights and the capability of enforcing decisions based on majority rules. This last part is essential to the supply and demand of the Q DAO tokens.
Inside the workings of a Q DAO transaction.
Step 1: Origin of the CDC smart contract and depositing collateral guarantees
To use Q DAO tokens a user must first send a request to the USDQ platform which initiates the CDС and its respective smart contract.
Whenever a user wishes to mint USDQ, they will be asked to collateralize an amount in Bitcoin that is higher than the loan’s value. As of now, this rate is 166%.
Step 2: Generation of USDQ Stable coins from the CDС smart contract.
The user then executes another request or transaction to the platform to retrieve the USDQ that was generated on the first step. The platform also jots down the debt that is generated by this user which is the amount in need of repayment to unlock the collateral guarantee. The guarantee is always higher than the USDQ stable coins made available for the user as a safety measure.
Step 3: User makes repayment of the generated debt.
When the user finally makes the repayment of the generated debt they gain full access to the locked collateral. There is also an accrued interest fee that is meant to be paid which is accumulated daily. This means that the Q DAO tokens generated initially are taken back and removed from circulation.
Q DAO Regulations
Since the entire operation has plenty of safety measures it is very self-regulated. Because all operations begin with any user having to provide collateral which will be lower to the amount of USDQ stable coins received it creates a dissuasive control to prevent fraudulent transactions.
Q DAO Projections
The Q DAO tokens are actually indicative of another type of cryptocurrency that is completely governed by smart contracts and economic mechanisms to influence its valuation more effectively. You should keep an eye on what the future holds for this cryptocurrency as it aims to become a pioneer in the industry of stable coins and cryptocurrencies alike.
USDQ is a decentralized stable coin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defenses against malicious acts and attacks.
First, run in the line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for the high-endurance stable coin. Fully anonymous, USDQ breaks limits out of this legacy world.
PLATINUM ENGINEERING is always happy to share its latest development and architecture solutions, helping stakeholders to spread improvements across crypto projects. Being an expert company on the market, PLATINUM ENGINEERING has already helped 150 crypto startups, enabling them to efficiently raise funds and introduce blockchains to their business models.
With offices in Tokyo, Thailand, Russia, Belarus, and Korea, the team is always ready to have in-person meetings, focusing on how companies can leverage blockchain technology in order to meet their unique needs. The team welcomes readers to connect on Telegram, Facebook, or LinkedIn.
This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins.
This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates.
Sviatoslav Zheltov, IT Manager and Blockchain Architect in Platinum Engineering
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