Havven Whitepaper

Abstract

There is currently no decentralised currency useful for everyday economic
purposes. We propose a peer-to-peer payment network and price-stable
token that does not rely on a central authority to maintain trust. Prior
to Bitcoin, attempts to create digital currencies were centralised, making
them vulnerable to censorship and seizure. Bitcoin’s consensus mechanism
protected it from interference, but its fixed monetary policy induced
extreme price volatility. Havven solves this by issuing tokens against a
distributed collateral pool, which derives its value from fees levied on
transactions. Growth in transaction volume thus increases the value of
the collateral, allowing the token supply to expand to meet demand. The
resulting system retains the best features of Bitcoin, while the introduction
of price stability results in a superior form of money.

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Havven Whitepaper

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