The Haven Protocol project, owner of the digital currency XHV, which ranks 458th in terms of total market capitalization among the famous projects in the world of decentralized finance, the project aims to create a private decentralized financing platform that includes the provision of crypto-backed loans and fiat currencies.

The Haven Protocol project is very popular and widely followed by various crypto investor communities, with the exception of one! It is the Arab community, which we seek, through Arab Bitcoin, to present and bring crypto projects closer, introduce them and cover the most important parts of this wide market.

This chat is dedicated to Haven Protocol management who will serve as an introduction and take a look at this project, its prospects and aspirations, and what it wants to offer the crypto community.

Read:Indexed Finance finds hacker who stole $16 million

The dialogue, to be honest, was carried out by Mr.: Ahmed Al-Khalidi

And he decided to share it with the Arab Bitcoin website.

Dialogue:

In January of 2019, the Haven project went through bad conditions, a credibility crisis that began when a number of team members disappeared and another announcement of the team’s failure to sustain its activity.

As a result, the currency price collapsed, the project’s momentum waned, its reputation was tarnished, and it became almost hopeless, forcing its management to abandon it and open the leadership for public adoption.

During that period, there were many conflicting news about the deletion of some trading platforms for the XHV currency, and the scene became very negative. The pioneers of the cryptocurrency market used to believe that this slide is usually the point of no return, especially since cryptocurrencies are an emerging market that lacks sufficient experiences to mature like the rest of the markets, which makes it difficult to build trust as well. for restoration after it was lost.

But this was not the case for the Haven Protocol project. Later, something happened that changed the course of the project and promoted it with unprecedented vitality that led to its growing popularity again and rebuilding confidence. The project is now on the cusp of launching its first and most important steps to reach its goals that it set since its first day. , The goals that the audience of the project dream of and those who believe in its importance, what happened? How did these radical transformations take place?

Read:Coinbase is studying the possibility of including 17 new digital currencies

We will learn about the project and the full story through our brilliant press interview with a member of the Haven Protocol team, and since it is a private currency, we cannot access the real identities of the team members, but we are content here to display the nickname as it is on their official pages, Mr.: Madlentil.

We will also get acquainted with the views and views of the project management towards the various questions about the network’s mechanisms and the circumstances the project went through.

Without further ado, we leave you with a textual account of the interview:

• In early 2019, the former currency team shook the Haven Protocol community and investors with a crisis of credibility with the disappearance of some team members for unclear reasons. Do you know exactly what happened? Can you briefly describe the transitional conditions of the project from the previous administration to the current administration?

The original developers of the project and the founders of Concept Haven were unable to complete the vision and deliver an effective product for two reasons:

1- They did not have the technical expertise to fully understand the complexities of the project, and therefore could not provide more than a trial version of the protocol.

Read:Fintech company Verifone partners with BitPay to offer crypto payments

2- After the original developers from the previous administration of the project handed us the code base (codes) that they wrote, it became clear to us that it is ineffective and has little technical value that enables us to reach solutions to build an environment for stable assets such as the one we have today.

The new administration overcame these dilemmas and today we were able to achieve our goals and build this promising environment.

• Are the members of the current management team completely new? Or are there members whose membership extended from the previous team?

Most of the new team members were longtime followers of the project, and in one way or another, some of them participated in its service since the beginning of the project, but the founding developers of the project left the administration in January 2019 and then a team from the currency community adopted the responsibility because they felt the importance of completing it.

Today, the original developers are not associated with Project Haven.

• Some investors are still stuck in the credibility crisis left by the previous project team. Will the new administration face challenges in rebuilding trust?

About 18 months have passed since the new team assumed the tasks of managing the project, and throughout that period, we were keen as much as possible on transparency and openness to the community. The first thing we did was make the development fee portfolio balance publicly available. We have been writing regular blogs that include project developments and progress and publish it periodically, in addition to our constant presence on our Discord and Twitter channel to answer questions from those interested and interact with the Haven Protocol community on an ongoing basis to enhance transparency and trust.

• Briefly, can you explain the project improvements and improvements that the new team has achieved so far?

The list of changes to the protocol (codes) is too long and it is inappropriate to review it here in the course of our conversation, but suffice it to say that we have rewritten it from A to Z to provide us with a robust, reliable and secure solution, and this was the result of 18 months of work that included exciting discussions among team members and valuable contributions of the coin community during the experimental stages.

We have always felt the importance of decentralized Oracle as the best approach to reduce the possibility of price gouging and we are proud of our partnership with ChainLink as our initial provider of Oracle technology, and additional Oracle providers will be added over time to increase the reliability of pricing data.

In addition, our developers have created additional vaults in the form of applications for storing and trading Haven assets (currencies) and they will be the basis for creating secure and simple stores for users and will be available in the form of desktop wallets, web browsers and applications for smartphones in various forms, and initially they will be available on Mac, Windows and Linux.

One of the most important things that we developed in the Haven Protocol is the ability to see the quantity of supply. As you know, in privacy coins users usually have the dilemma of knowing the amount of circulating supply of the coin, and with the Haven Protocol, this is possible. In the future, the supply of XHV tokens and XAssets will be directly visible, and we hope to combine them to create an aggregate value for the Haven Network to keep the network scale visible on coin gauges websites.

We will launch the Haven stablecoin xUSD as the world’s first colored coin based on Monero. From within the network, we will be able to create a wide range of financial assets and tradable pairs which will enable us to build our vision as a private DeFi platform.

And by the way, we just published an in-depth summary from our project leadership that provides a more in-depth look at how our developers came up with the solutions:

• During the crisis of the transitional phase of the project from the previous team to the current team, there were conflicting news about the deletion of XHV coin from some trading platforms, so will we witness a re-launch on those platforms?

XHV Haven Coin has not been deleted from any trading platform because of the project’s biography, it’s just that there is a small Korean exchange called Upbit that decided to delete many privacy coins for legal reasons related to the area of ​​that platform’s headquarters, and Haven XHV coin was one of those coins.

• As you know, the Binance platform is one of the most popular platforms in the Arab world, so are we about to witness the inclusion of XHV token on the Binance platform?

I can’t comment on the listing on a particular trading platform, but what I can say is that the completion of the xUSD coin in the mainnet will prompt us to look at all possible options to make XHV and xUSD as widely available as possible.

• It’s been a year and a half since the new team took over the leadership of the project, and finally, the project is about to release its first xUSD stablecoin, how important is this to the project and XHV?

It can be said that the issuance of the xUSD coin is the first and most important step to prove that what many thought “impossible” has already become a reality. You can consider XHV as the base currency while xUSD will be the gateway to the network for the rest of the X assets to be launched later.

To be more clear, you can only get xUSD when you buy XHV and then burn it, and later when you launch other x assets and currencies (xGOLD xEURO xSILVER…etc), you will be able to buy them with xUSD only. That is, the equation is as follows:

XHV xUSD (xGOLD, xSILVER…)

• Moment! Does this mean that we will not witness the launch of xUSD for trading on other platforms?!

Good question, it is possible that in the future xUSD will be available for trading on other platforms, and this is what we are looking for, then the client will be able to access xUSD without buying and burning XHV, or that may seem to you, but in fact those platforms that offer xUSD have to You burn a certain amount of XHV for every xUSD you put into circulation, so putting off our platform will not impede the performance of Haven Protocol.

• 18 months to launch xUSD, will its launch contribute to expediting the issuance of the remaining xAssets? Or will each of them take a similar time?

We will release more X-Assets after a sufficient period of analysis to ensure that the network’s stability and security is maintained. In spite of that, its development and release in succession will not take as long as we spent on establishing the main network protocol.

• The Haven Protocol offers a secure and private ecosystem based on one of the largest privacy coins, Monero, and the coin project slogan was “A Swiss bank account in your pocket.” Here we wonder what distinguishes you from the services of Swiss banks for businessmen and the wealthy? Especially since they are well-known banks for safe and private services.

Haven is distinguished from conventional banks in many ways:

• There is no central supervisory authority on the network.
• Anyone from anywhere in the world can download and use Haven without having to identify and verify identity or even go through the registration process.
• There is no intermediary to transfer or store money in Haven, these operations are done through peer-to-peer technology with complete privacy.
• All transactions and details of activities within the network are completely anonymous.
• Only you can access your Haven account.
• You will be able to store and transfer your funds across a range of assets quickly and securely anywhere in the world, and the process usually takes two to four minutes.

• I found on your official website a list of 12 non-XHV and xUSD assets labeled “Soon” including fiat currencies in addition to gold and silver, it looks like building a safe financial environment for the value of wealth, but will we see more assets and major commodities included?, xOIL for example The example will give the cryptocurrency community the opportunity to invest in the oil markets.

We voted for the Haven Protocol community and xOIL was one of the most voted options, so yes, we’re looking to roll it out into our network assets but only after we’ve tested for potential network risks. And if it is raised, it is likely that the choice will fall on the value of Brent crude to link xOIL to it, as it is the most traded crude in the world, unlike the United States of America, and its prices have proven resilience and resilience during the recent oil price collapse crisis. In any case, designing the code base efficiently and testing network security will mean that in the future we can include more diverse assets in line with the growth and stability of the network.

• As you know, many crypto projects present themselves as a “safe haven” and here is the most prominent example that is often compared to the Haven protocol, which is the Reserve Rights protocol (RSR). Other than privacy, the idea of ​​the project is very similar to the Haven project. How do you see both projects? From your point of view, are they two competing projects, or do they have different goals? And if they are different, do you see mid-points that might bring the two projects together in a partnership?

The goals of the two projects may be similar, but each of them took a different way to reach those goals by establishing different use solutions, so we do not see direct competition between the two projects.

I’m not sure if we’ll see any kind of partnership in the future because they have a very different practical and technical approach to Haven.

• In the long run, privacy coins face greater and more complex challenges than the rest of the cryptocurrencies due to government laws and supervision requirements to secure banking activity. Blocking websites is very likely, especially by ultra-centralized governments. How did the Haven team prepare for that moment?

At the moment, we feel less risk than before for the following reasons:

• There are no funders to put pressure on us by cutting off funding for the project.
• There is no controlled token that can be controlled or its prices manipulated.
• Haven has no corporate headquarters that can be closed, and the team members live in different regions and countries around the world, including Britain, America, Canada and others.

• As you know, we in the countries of the Arab world, and the Islamic world in general, are distinguished by religious prohibitions and highly respectful and important legal controls that govern our behavior in investment, and the fact that Haven is a privacy project, it is difficult for our societies to know the scenes of the project’s activity and its compatibility with Islamic Sharia, which leads many investors to Deciding to avoid investment, so I take this opportunity to take clarifications, even brief ones, about several points. Is the Haven Protocol project a relationship, partnership, or connection in one way or another with the following:

• gambling
• alcohol industry
• Tobacco industry
• pornography production
• No connection in any way with the Zionist occupation state

Haven has no affiliation, partnership, or cooperation with any of the above.

• On the main page of your official website, I saw the draft project profiles and frequently asked questions (FAQ) files listed in the form of a list in several different languages, as well as the case for your official channel on Discord, detailing the message boxes based on languages ​​and also recently included an Arabic language room, how do you see the expansion of the project’s community base at the global level?

This goes back to the essence of the project, which is to provide the opportunity to benefit from everyone who is able to connect to the Internet around the world, regardless of their location or personal status. complete.

• And finally, as the first Arabic press interview for the project team, would you give a word to the Haven Arab community that includes hints about the currency’s near future? 🙂

Our team has been working tirelessly for 18 months and we are very excited to complete the launch of our first xUSD stablecoin, all I can say is that this event is very important and marks the beginning of Haven as a real project as our ambition is to be the world’s leading network in the field of private and decentralized finance.

We hope that our Arab community will be present and join our channel on Discord and view the draft definition of the project (FAQ) on our official website and interact with us flexibly.

Discord:

Twitter:

website:

questions and answers: faq

Read also:

Learn about the Celo project and the cGLD digital currency

Learn about the Ethereum ENS service and its importance for cryptocurrency users