New utility token Quincoin hopes to pave the way for innovation in health care

 

New utility token Quincoin hopes to pave the way for innovation in health care

 

There is a lot of discussion about crypto currency in recent times. Therefore, it is imperative for all of us to brush up our knowledge on the issue. It certainly pays to update yourself and clarify your basics. With so much hype in the social media platforms and too much information from multiple sources it can be misleading at times. 

Often we are confused about a Coin and the Token.

Well, the simple answer is that a crypto coin is usually native to a blockchain and is used to trade currency and store value, whereas a token tends to use another coin's blockchain. For example, Ethereum, is a blockchain. Its native coin is Ether. However, many tokens such as BAT and Loopring operate on this blockchain.

2.  Know the difference between a crypto coin and token?

A crypto coin is the digital version of underlying value, which might be debatable, whereas tokens carry the asset or deeds. One can buy tokens with coins, but some tokens can carry more value than any of them. For example, equity shares of a company.

3.  A lot of people would like to know if the Bitcoin is a coin or a token?

Bitcoin is a cryptocurrency, which has virtual tokens or coins that can be used to trade or make purchases.

4.  Many are not sure if Ethereum is a token or a coin?

Since we know that coins have their own blockchain and tokens don't, is Ethereum a coin or token? Ethereum has its own blockchain, and is therefore a  coin. This also means that if you have a wallet that supports Ethereum, all assets that use the Ethereum blockchain, such as ERC20 tokens, are compatible with your wallet.

5.  Let us understand the concept of a token?

All coins are considered tokens but all tokens are not coins in the crypto industry, according to industry experts. A crypto token represents what a person owns, while a crypto coin denotes what they're capable to own.

6.  Now let us know about the utlity token.

A utility token is a crypto token that serves some use case within a specific ecosystem. These tokens allow users to perform some action on a certain network. A utility token is unique to its ecosystem. Examples of utility tokens include Filecoin, Siacoin, Golem (GNT), and Basic Attention Token (BAT).

7.  Is XRP a utility token?

Ethereum's ERC-20 is probably the most well-known blockchain within the industry, and Binancecoin (BNB), Ripple (XRP), as well as Bitcoin (BTC) itself could be considered utility tokens.

8.  Are utility tokens a good investment?

Utility tokens provide several key benefits both for developers and for token holders. Developers are able to launch projects with great ambition based on early investor funds. These early investors believe in the value that the token will provide in the long term.

Quincoin utility token                          

QUINCOIN tokens, which are based on the Binance Smart Chain and the BEP-20 protocol, will be the primary currency for all payments and transactions on the Quincare platform.

QUINCOIN and Quincare mission hopes to boost the health care sector in a big way using blockchain technology. The primary focus is largely to improve on-demand health services to consumers in their homes and improve its value. This will result in a paradigm shift in the health sector by easing the stress on our health infrastructure such as clinics, nursing homes and hospitals while saving time, money and effort in reducing the distress and pain of an ailing patient. More over the patient can also avail the special benefits of home treatment and can only be shifted to a hospital in case of an emergency. The service is likely to be launched in April, 2022 in the state of Odisha and to be extended to 4000 towns and cities across the nation.

Patients will enjoy decentralized health care services using the available blockchain technology. Quincare hopes to make the lives of the people considerably easier in availing quality health care facilities. It hopes to foster a new health ecosystem among families and home care providers by allowing them to connect in a secure and convenient manner, while significantly reducing the cost of hospitalization.