Haven Protocol is similar to an offshore bank where users can create private tokens that represent stable and volatile assets, including commodities and fiat currencies (such as USD). The protocol is based on Monero, which focuses on secure, private and untraceable transactions.

As a result, most of the features of Monero extend to the Haven protocol, including the bulletproofs and other privacy tech. The base currency of Haven is the XHV, which is burnt to provide users with private, untraceable, synthetic assets and commodities called xAssets.

The network uses a “mint and burn” process to provide users with untraceable digital assets with standard market pricing and real asset-pegged value storage. Simply, users can burn Haven (XHV) for Haven Dollars (xUSD), which is a synthetic stablecoin.

The protocol was first worked on by two unidentified developers in January 2018 who attempted to create a decentralized private stablecoin. This would allow any user to own a private token that can be converted into any desired currency without interference from a third party. However, the project failed after making it to the testnet stage due to technical challenges.

After the failed attempt by the original developers, they left the project and a new team from the Haven community took over.

The new team consists of individuals with expertise in mathematics, economics, blockchain analysis, cryptography, system architecture and community management.

The new team branded and birthed the mainnet of Haven Protocol on July 20, 2020, by launching the xUSD stablecoin. The major developers of the network use aliases: Dweab (Project Lead), Pierre Lafitte (Product Lead), Neac (Protocol Lead), Marty (Frontend Lead).

The first proposed design of Haven Protocol was initially believed to be infeasible due to the complicated cryptography and mathematics, and the privacy of the codebase. Similar to Monero, the platform also uses proof-of-fungibility. The proof-of-fungibility allows for various asset classes to be equated based on their monetary value rather than just the quantity of the exchanged tokens.

The platform’s unique feature are the completely secure and private synthetic currencies and assets. Also, the “mint and burn” strategy allows for a dynamic alteration of the circulating supply of the underlying assets. This strategy also makes it possible to maintain the value relationship of Haven against its pegged asset.

Haven had no ICO, pre-mine, or seed funding when it first launched. The maximum supply of XHV is 18,400,000. As of February 2021, the current circulating supply of the XHV is 14,531,525.

Similar to Monero, Haven protocol also mines a new block every two minutes. For each block mined, 2 XHV are mined. The reward for each block mined is going to be halved in May 2021. Later in 2022, Haven will end up in a “Tail emission” — the mining reward will become 0.6 XHV. This will make Haven inflationary, but the mint and burn method will dynamically control the supply of the token.

The Haven Protocol developers receive XHV as compensation, which is a 5% governance fee taken from XHV mining rewards. This fund will be used for the maintenance of the project.

Haven Protocol uses a proof-of-work consensus mechanism, similar to that of Monero. Due to the functionality of the mining algorithm, users do not need specialized mining devices to mine new coins. As a result, a regular computer is enough for mining. Furthermore, the network uses similar privacy features to Monero’s.

XHV can be bought on the following exchanges:

• CITEX
• Bittrex
• VCC Exchange
• TradeOgre
• KuCoin
• TOKOK

It can also be earned as a proof-of-work reward by miners.

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The all-time high of XHV was 0 USD on 1970-01-01, from which the coin is now down 0%. The all-time high price of Haven Protocol (XHV) is 0. The current price of XHV is down 0% from its all-time high.

As of , there is currently 69.74M XHV in circulation. XHV has a maximum supply of 0.

The current market cap of XHV is 250,300.27. It is calculated by multiplying the current supply of XHV by its real-time market price of 0.003589130093.

The all-time low of XHV was 0 , from which the coin is now up 0%. The all-time low price of Haven Protocol (XHV) is 0. The current price of XHV is up 0% from its all-time low.

Haven Protocol (XHV) has a market capitalization of $250,300.27 and is ranked #2350 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Haven Protocol (XHV) price trends and patterns to find the best time to purchase XHV.