ABEY is one of the fastest growing blockchains in the world, adding 20,000 new addresses every week.
ABEY developers say there are over 120,000 active ABEY 2.0 addresses today, four times the number of 30,000 addresses in early August.
The news follows confirmation that the ABEY token, the third-generation blockchain platform’s own token ABEYCHAIN, is now listed on the popular Liquid Global cryptocurrency exchange.
Like Bitcoin and Ethereum, ABEYCHAIN gives developers the ability to build and run decentralized applications. Public blockchains usually use one consensus protocol. However, ABEYCHAIN 2.0 took a different approach, incorporating a hybrid Delegated Proof-of-Stake and Proof-of-Work system to achieve consensus.
The so-called Ethereum 2.0 is being developed to scale, primarily by moving from the Proof of Work consensus mechanism (the mechanism chosen by Satoshi Nakmoto) to Proof of Stake, as well as the inclusion of sharding, a way of splitting databases into smaller, faster and easier database management, known as data segments. Due to Ethereum’s lack of scalability, most of the NFT artwork cannot exist on the blockchain and is still hosted on centralized servers. Finally, to date, no cryptocurrency has established itself as a reliable medium of exchange.
Let’s take a look, one by one, how the disadvantages of blockchain scaling affect these new blockchain use cases.
The ABEYCHAIN protocol includes a hybrid consensus protocol with PoW and DPoS.
ABEY is an enhancement to the standard Proof of Stake (PoS) and Permissioned Byzantine Fault Tolerant (BFT) protocols. In the BFT protocol, no more than one third of the participants can be attackers at the same time. While BFT is an efficient mechanism, it lacks scalability and pseudo-decentralization. PoS protocols with few validators provide high throughput, but then become overly centralized and jeopardized by the “nothing at stake” paradox.
His BFT chain runs on multiple nodes in a PoW based network without permission. The BFT committee oversees the verification of transactions, while the PoW nodes select and elect committee members based on certain criteria.
ABEYCHAIN introduces a modified PBFT (Practical Byzantine Fault Tolerance) and Proof of Work (PoW) consensus. PoW consensus drives users. PBFT layers fulfill agreed requirements with instant finality and high throughput. transaction verification and compensation infrastructure. PoW ABEYCHAIN nodes benefit from incentive infrastructure. BFT operates in a permissive environment with all predefined identifiers to deal with high volume of transactions. PoW Protocols Choose BFT Based on Proprietary Dynamic Membership Handling Methods
Combined, BFT and PoW provide the next generation of blockchain technology.
The ABEYCHAIN approach provides scalability and decentralization. The unique architecture ensures that developers can build products on one of the fastest and most secure public blockchains. As part of the latest generation of blockchain projects, ABEY has attracted an active developer community using ABEY’s open source tools to create a new financial system.
Crypto assets on the ABEY network are managed using the ABEY 2.0 wallet, and transactions go through aPay payment services. Build and distribute your own NFTs in the ABEYCHAIN ecosystem via an AI-powered SAN for global customers, where storage is distributed across multiple servers in an encrypted format. As a result, the storage solution offered by ABEY Network is open, transparent, censorship-proof, robust and cost-effective with no central points of failure.
As planned for the upcoming Ethereum 2.0, ABEYCHAIN includes data sharding, speculative transactions, real-time smart contract auditing – all in a hybrid cloud infrastructure. As the market becomes aware of the ABEY token, trading on the platforms where it is available has increased, with the value of the token increasing 400% since its first listing.
All of this plays an important role in the latest listing of the ABEY token. Founded in 2014 and based in Japan, Liquid is regularly ranked among the top cryptocurrency exchanges in terms of daily trading volume. They now have over 80,000 customers who now have access to a scalable platform with functionality that surpasses previous blockchains.
The robust ABEYCHAIN ecosystem includes decentralized exchanges, games, lotteries, liquidity mining, derivatives trading, stablecoins, the NFT platform, marketplaces, wallets and more.
Disclaimer: This is a paid post and should not be construed as news / advice.