Blockchain technology has enjoyed amazing growth with the development of cryptocurrencies, a revolutionary concept in finance. Developers and teams have built and operated solutions based on blockchain technology that has brought about ideas like decentralized apps (dApps) and decentralized finance (DeFi).
Despite the gains achieved so far, problems limit the scope and ability of developers to build products that can rival centralized systems. The biggest bottleneck that many blockchains face is how to improve scalability while maintaining decentralization.
For example Ethereum is regarded as the leading smart contract platform that is fully decentralized but faces scalability problems. While Binance Smart Chain is the opposite, it is mainly centralized but highly scalable. ABEYCHAIN 2.0 is a significantly advanced blockchain platform that intends to resolve these problems.
What is ABEYCHAIN 2.0
ABEYCHAIN 2.0 is a multi-layered blockchain system that incorporates Delegated Proof of Stake (DPOS) and Proof of Work (POW) to form a hybrid consensus that supports high volume transactions.
Crucially ABEYCHAIN 2.0 solves the problem confronting permissionless blockchains by creating a balance between security and efficiency. This is achieved using the hybrid consensus system and makes it the first third-generation public chain to solve the ‘’Impossible Triangle’’ problem.
The hybrid consensus mechanism is the major attraction for ABEYCHAIN 2.0 since it provides a highly scalable and efficient blockchain network for high-volume transactions. This means that the blockchain can be used to build eCommerce dApps that process large volume transactions daily.
Additionally, ABEYCHAIN 2.0 implements a stable gas fee mechanism that makes it significantly cheaper than other public blockchains. This ensures that developers can create solutions without worrying about high transaction fees within the ABEYCHAIN 2.0 blockchain.
ABEYCHAIN 2.0 Ecosystem Features
ABEYCHAIN 2.0 has enjoyed massive success since its launch with over 150,000 users globally. Powered by the ABEY token, it features a wide range of products in an extensive ecosystem. Some of the features include.
XSwap: XSwap is a multichain decentralized exchange that allows anyone to swap supported crypto for goods and services. Digital assets developed on ABEYCHAIN 2.0 can be swapped on the exchange at no cost making it significantly cheaper than most DEXs in the market.
XSwap also offers trading options and tools to help users to make the right trading decisions. It also integrates major DeFi features like staking, yield farming, lending, borrowing, and more. Users can also store their tokens in the inbuilt multichain wallet that is secured by the ABEYCHAIN 2.0 blockchain.
ACT stablecoin: Stablecoins are one of the major reasons why DeFi has boomed in the past 12 months, and ABEYCHAIN 2.0 supports a native stablecoin called aCash Token (ACT). ACT is a stablecoin that is pegged 1:1 to USDT and has a unique mining mechanism.
ACT is mined when it is purchased within the ABEYCHAIN 2.0 platform using mainstream coins like BTC, ETH, BCH, and LTC. In contrast, a burning process occurs when users convert their ACT to other cryptocurrencies. This system of mining and burning ensures that the value of the token is stable and prevents inflation. ACT holders will be able to convert their ACT to USDT through the aPay payment services function in the ABEY 2.0 wallet.
ABEYCHAIN Storage Network: The development of decentralized storage systems is one of the concepts that has dominated discussions in the blockchain space recently. ABEYCHAIN 2.0 has developed a unique platform called the ABEY Storage Network (ASN) to capitalize on the void in decentralized storage space.
ASN provides an alternative solution by delivering high-quality data storage using a new incentive layer built within the IPFS network. Storage miners are incentivized with rewards in AST (ABEY Storage Token) which can be exchanged for Filecoin at 1:1 parity. Additionally, the cost to mine AST is among the cheapest in the market, and there is no censorship for miners.
ABEYCHAIN 2.0 NFT Marketplace: The craze for NFTs has reached record levels in 2021 with NFTs selling for thousands of dollars. The ABEYCHAIN NFT platform is strong in the music and entertainment industry, teams up with top artists and brands to create collections of limited editions, high-quality NFTs, exclusively available on the Music.Net platform.
Additionally, users can deposit NFTs from external wallets to the inbuilt NFT wallet and view them in the marketplace. They can also withdraw NFTs from the marketplace to external wallets.
ABEYCHAIN 2.0 is a unique blockchain platform that is ideal for developers and teams that want to build highly scalable solutions and applications. The extensive blockchain ecosystem places it on the right track towards adoption. The ABEY Token currently trades on www.zbx.com and www.zbx.plus. To learn more about ABEYCHAIN 2.0 blockchain, visit the website at http://www.abey.com