ABEYCHAIN 2.0 is the first working third generation public chain that solves the most important problem in the public chain space: the “Impossible Triangle”. It commenced in March 2021, and now has over thousands of unique users to its ecosystem. After being released at the AIBC 2021 Summit in Dubai, more insights are now available about the functions that this new technology offers.
The platform aims to disrupt the current Proof of Stake methodology that makes it easier for a larger stakeholder to expand their token stake faster than a smaller stakeholder. Since that large stakeholder can mine or validate block transactions depending on the number of coins they hold, they have more mining power than someone with fewer coins. This leads to centralization of mining where the rich get richer.
The platform aims to offer a secure storage server and distribution network that safeguards data from hacks and technical problems. Moreover, ABEY storage is spread in various servers over the globe in different nodes. These data are encrypted such that it could not be hacked. This storage system will be an open, fair, honest data storage solution with no central points of failure.
ABEYCHAIN 2.0 works on a fairness system. However, the nodes that decide issues are voted by other users. This shows users are not empowered to be the deciding nodes unless they were voted to be by the users on the ABEY network. This has an impact on speed as well. Since fewer nodes are participating in the decision-making process, ABEYCHAIN 2.0 sees speed improvement compared to previous platforms.
Technology Behind ABEYCHAIN 2.0
ABEYCHAIN 2.0 provides an efficient and secure blockchain for decentralized applications and finance. The platform is one where many public chains based on single consensus mechanisms, such as PoW or PoS, lack efficiency.
On the other hand, those based on dPoS or PBFT have been efficient, but have issues with decentralization. ABEY uses a hybrid consensus combining DPoS and PoW, to solve the biggest problem confronting permissionless blockchains: the trade-off between decentralization and efficiency.
We use the DPoS Committee as a fast chain to process transactions and give the committee’s oversight to the pow node. In addition, the initial chain also integrates the fruit chain technology into the traditional POW algorithm protocol and implements the PoW protocol.
Way to Onboard to ABEY Token
The ABEY ecosystem, including the ABEY Token, is available right now. ABEY Token trading is on zbx.one or zbx.Plus. Users can visit ABEY’s official site for more information on the ABEY blockchain, where users can find the initial scientific whitepaper, download links for the wallet, and other data.
With a balanced hybrid consensus protocol striking a perfect balance between decentralization, scalability, security, and innovation, ABEYCHAIN 2.0 presents a truly robust solution for mass adoption of blockchain technology into the future. All-in-all, the ABEY (Advanced Blockchain for Enhanced Yields) Foundation contributes governance, and research, for the ABEYCHAIN, while maintaining the integrity of the core technology. The foundation provides a way for the ABEY community and ecosystems and has a strong commitment to safeguarding the immutable freedom of all ABEY users now, and for future generations.
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