Quasar Smart Contract (OMG Foundation)
The Quasar Smart Contract is a blockchain-based application developed by the OMG Network, an Ethereum-based project of the non-profit organization the OmiseGo Foundation. It is designed to provide businesses and individuals with a secure, low cost way to send money across borders using cryptocurrencies such as Bitcoin, Ether and other ERC20 tokens. The Quasar network consists of distributed nodes that are run by independent stakeholders from around the world who help verify transactions on its decentralized ledger.
The OMG Network has created a suite of tools that allow developers to create smart contracts for their own applications on top of its protocol. The Quasar language was specifically designed for this purpose and it provides developers with an easy way to write and deploy code for their dapps (decentralized apps). The use of smart contracts ensures that all transactions are securely stored in the blockchain and cannot be altered or reversed once they have been accepted into the network.
In addition to providing users with fast, secure transfers across borders, Quasar also offers features such as multi-signature wallets which require more than one person’s signature before funds can be transferred out; privacy protection through zero knowledge proofs; trustless state channels; atomic swaps between different currencies; offchain settlement options; support for multiple programming languages including Solidity, Vyper & JavaScript ; scalability via sharding technology ; access control through role management systems ; plus much more!
Overall, the Quasar Smart Contract offers users a comprehensive platform for managing global payments without having to worry about security risks or high transaction costs associated with traditional methods like banks or credit cards. With its intuitive interface and powerful featureset, it is quickly becoming one of cryptocurrency’s most popular solutions – making it easier than ever before for businesses to send money internationally in any currency at any time!
