Blockchain technology has come a long way since Bitcoin was introduced over a decade ago. While the number of use cases of blockchain technology continues to grow, there is an underlying problem that troubles the developer community – scalability. Several attempts to address the issue of scalability have eliminated compromised speed or the level of decentralization. In fact, this endless cycle now has a name, the blockchain Trilemma. But not for long until ABEYCHAIN 2.0 has solved it yet.
PoW, DPOS and Fruitchain – a great recipe
Earlier this year, ABEYCHAIN 2.0 (ABEY) is a relatively new public blockchain project. It implements a unique combination of PoW and DPoS hybrid consensus mechanisms to achieve the right balance of scalability, speed, decentralization as well as cross-chain interoperability. With these features, ABEYCHAIN 2.0 has eliminated the long-standing blockchain Trilema to become a developer favorite.
ABEYCHAIN 2.0 avoids the trade-off between decentralization and efficiency in exploring scalability by using the DPoS committee as a fast chain to process all transactions and record committee monitoring on a PoW node . By doing this, it brings the two best consensus mechanisms into a protocol. In addition, the project also upgrades the PoW algorithm by integrating Fruitchain technology to further improve traditional Nakamoto’s protocols in terms of transaction costs, speed and decentralization by eliminating the need for mining pools. At the same time, the use of two widely used consensus mechanisms in a protocol contributes to cross-chain compatibility.
DeFi. Push the boundaries of
Decentralized finance (DeFi) is currently one of the hottest sectors of the blockchain industry. As the developer community is looking for the ideal solution for all DIFI needs, Abechin 2.0 presents itself as an ideal fit. The cross-chain interoperability feature enables it to act as a bridge between multiple blockchains, as different types of projects on different blockchains require time, adhering to different standards that continue to be cropped up every other day Keep it. If this is not enough, the issue of high gas costs on the Ethereum network has led to many scrambling for alternatives.
The ABEY network is DeFi-ready, supporting all essential elements including XSwap decentralized exchanges, liquidity mining, derivatives trading, collateral loans, insurance, gaming, lotteries and its own ACT (aCash token) – a stable The coin Pegged against the USD. All crypto assets on the ABEY network are managed using transactions transmitted through the ABEY 2.0 wallet and Ape payment services.
Expand beyond defy
In addition to DeFi applications, the ABEYCHAIN ecosystem supports the creation and distribution of NFT. In fact, the project itself has partnered with artists to create its own limited edition NXT and a marketplace where it can be bought and sold along with other similar assets.
ABEYCHAIN 2.0 also provides intelligent data storage networks for global customers where storage is distributed across multiple server locations in an encrypted format. As a result, the storage solution offered by ABEY Network will be open, transparent, censorship resistant and cost effective with no central point of failure.
ABEYCHAIN 2.0 has come out ahead of most other blockchain protocols, with its capabilities and ease of development, it can help to adopt blockchain technology at a much faster pace than expected.
Learn more about ABEYCHAIN 2.0 – https://www.abeychain.com/