WorkQuest

The WorkQuest vision is via blockchain incorporating our payment system using $WUSD stable coin and $WQT management token, to create a robust and trusted service for employees and employers.

Our goal for adopting blockchain technology into WorkQuest is to maximize the number of distributed transactions per second, ensure the security of data, remove the number of intermediaries, and simplify communication between employer and employee by using smart contracts.

#WorkQuest $WQT $WUSD #WorkNet #WorkQuestApp #blockcahin #crypto #cryptocurrency #labormarket #innovation

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Since the first quarter of 2020 remote work started to gain more popularity. Moreover, this concept of work proved to be quite productive.

A study conducted by Stanford found, that the employees’ performance was boosted by 22% when they were able to work from home.

Remote workers are more productive because they have no commute, less or no office small talk, fewer distractions, more time for family, exercise, a higher quality of life, and better overall work-life balance leading to a higher level of job satisfaction.

Moreover, remote work allows a wider choice of employees when looking for employees. They don’t have to hire the local professionals and can recruit anywhere in the world, contributing greatly to the solutions of the skills mismatch and unemployment problems existing in today’s labor market.

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Fact 1️⃣
Work USD (WUSD) is a crypto-collateralized stablecoin, which means that the asset is backed by some other cryptocurrency. Backed by $WQT, $BNB, $ETH, $USDT and $USDC, $WUSD is pegged against the US Dollar and allows for using a basket of crypto-assets as a reserve.

Fact 2️⃣
All the payments between Employer & Employee on the WorkQuest platform are made in $WUSD — including salaries, insurance, borrowing&lending, retirement, savings funds contributions, and more.

Fact 3️⃣
With the use of the $WUSD stablecoin, users can easily and secure transfer funds using WorkQuest wallet. Additionally, users can exchange for another cryptocurrency or withdraw to a bank card.

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What makes the WorkQuest wallet secure?

All official WorkQuest wallets are decentralized, meaning they’re non-custodial. Seed phrases and private keys are stored strictly on the user side, and the WorkQuest platform has no access to them in any way. The entire responsibility for the safety of this private data and funds in wallets lies with the owners.

Private keys are generated based on the BIP39 standard. The Seed Phrase consists of 24 words.

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A Block is a fundamental essence of the Blockchain. Blocks of the WorkNet blockchain contain user transactions, WUSD issuance transactions, validator signatures, commissions, the hash of the current and previous blocks, and other service information.

Block Structure

A block consists of a header, transactions, votes, and a list of evidence of violations (e.g., a double signature). The block’s header includes metadata about the block and the consensus, as well as data confirmation in the current block, the previous block, and the result returned by the application. All data is contained in a wrapper of a list of transactions, which are arbitrary byte arrays.

In the Work Net blockchain, blocks are generated approximately every 5.5 to 6 seconds. The block contains between 0 and 10,000 transactions of approximately 180 bytes each!

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WorkQuest is the online marketplace and decentralized payment provider, connecting employers with employees anywhere in the world, powered by Smart Contracts governed by DAO using its own WorkNet Blockchain and WorkQuest wallet.

👀 Have a look at the infographic to get a better understanding of the WorkQuest platform’s mechanism.

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WorkQuest

WorkQuest

WorkQuest is a global end-to-end jobs marketplace powered by Blockchain / DeFi 🌐 WorkQuest.co ☑️ https://t.me/WorkQuestChat 🎆 https://linktr.ee/WorkQuest