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Cheqd (CHEQ) is a cryptocurrency that powers the cheqd network, a public, permissionless platform designed to facilitate self-sovereign identity (SSI) and verifiable credentials. The network aims to enable individuals and organizations to have full control over their personal data, promoting privacy and security in digital interactions.
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The cheqd network offers several key features:
Payment Infrastructure: It provides payment rails and customizable commercial models for trusted data exchanges, allowing participants to monetize and share data securely.
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Decentralized Identifiers (DIDs): The platform supports the creation and management of DIDs, enabling users to establish verifiable digital identities without relying on centralized authorities.
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Verifiable Credentials: Cheqd facilitates the issuance and verification of digital credentials, enhancing trust in digital transactions across various sectors, including finance, healthcare, and supply chain management.
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The native CHEQ token serves multiple purposes within the ecosystem:
Transaction Fees: CHEQ tokens are used to pay for transactions on the network, ensuring smooth and efficient operations.
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Incentives: The token incentivizes participants to share and verify data, promoting active engagement and the growth of the network.
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Governance: CHEQ holders can participate in governance decisions, influencing the development and direction of the cheqd network.
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As of November 23, 2024, the price of CHEQ is approximately $0.03705 USD, with a 24-hour trading volume of around $370,472 USD.
COINGECKO
Cheqd's mission is to create a decentralized identity network that rewards participants for sharing authentic data, aiming to make digital interactions more secure, private, and user-controlled.
