ABEYCHAIN 2.0: Bringing New Functionality to the Blockchain – CoinCheckup Blog – Cryptocurrency News, Articles & Resources

ABEY (Advanced Blockchain for Enhanced Yields) Foundation highlighted its new version of blockchain at the AIBC Summit 2021 in Dubai. ABEYCHAIN 2.0 builds a strong momentus with ten of thousands of users added since its March 2021 launch. Developers are excited about the possibilities this blockchain can offer for decentralized applications and finance.

The ABEYCHAIN 2.0 platform is created with cross-chain operability in mind. It uses a hybrid consensus combining DPoS and PoW to solve the biggest problem permissionless blockchains face –  the trade-off between decentralization, security and efficiency.

In addition, many public chains based on a single consensus mechanism often have obvious drawbacks, such as PoW (lacks efficiency), or PoS (lacks decentralization).

Hence, the hybrid consensus incentive model uses economics as a drive to uphold and improve the chain. The creation of a stable gas fee mechanism also lowers the cost for developers to make the blockchain more public.

ABEYCHAIN 2.0 has also built an all-inclusive community to attract developers and entrepreneurs from across the world to be a part of the movement towards a decentralized economy.

Moreover, the ABEY ecosystem develops a foundational home for the essential elements of DeFi. These elements include decentralized exchange, liquidity mining, derivatives trading, collateral loans, insurance, gaming, lottery, and other use cases. Through the ABEY Network, users can pay for the digital asset in exchange for services or goods. Digital assets issued on the ABEYCHAIN 2.0 will be able to access XSwap, the decentralized exchange, at no cost.

Relation of ABEY Storage Token With Filecoin

There’s no other blockchain project that has a similar type of cross-chain asset like the ABEY Storage Token (AST) against Filecoin. Filecoin was the original provider of an incentive layer to IPFS. Miners earn rewards, known as FIL, for the storage and retrieval of files on IPFS. But if any miners are out of compliance, they will be fined and be potentially terminated from the network.

The ABEY Storage Network solves this problem with a new advanced alternative data storage platform integrated with the IPFS. Those who participate in mining ABEY can also activate mining for AST, which means miners can contribute storage capacity from their servers and get AST back. AST has 100% parity with FIL and can be immediately traded at the same price (1:1) as Filecoin. AST has 100% liquidity and is issued on ABEYCHAIN 2.0.

ABEYCHAIN 2.0 Shows Great Performance Since Launch

ABEYCHAIN 2.0 has seen the number of unique addresses on the ABEY ecosystem grow by more than 50% since its launch in March. In the ABEY ecosystem, each account belongs to one individual person. Adding that many new users to the network after just two months is nothing short of amazing.

The ABEY ecosystem, including the ABEY Token, is available right now. ABEY Token trading is on zbx.one or zbx.Plus. For more information on the ABEY blockchain, users can visit ABEY’s official site, where users can find the initial scientific whitepaper, download links for the wallet, and other information.

With a balanced hybrid consensus protocol striking a perfect balance between decentralization, scalability, security and innovation, ABEY 2.0 presents a truly robust solution for mass adoption of blockchain technology into the future. 

Use Cases

  • Cross-Chain Interoperability

The ABEYCHAIN is not an independent island in the sea of public blockchains. Many chains exist nowadays, but few can achieve interoperability with others like the ABEYCHAIN. Highways in the blockchain world will be interconnected to support a much larger traffic. The ABEYCHAIN was created with this in mind – other global assets can be transferred onto/through the ABEYCHAIN without delay.  More assets are lined up to be tokenized on the ABEYCHAIN.

  • A Perfect Foundation for DeFi 

The ABEY network is home to all essential elements of DeFi, including decentralized exchange, liquidity mining, derivatives trading, collateral loans, insurance, gaming, and lottery, to name a few.

  • Decentralized Exchange XSwap

Through the ABEY Network, users can pay the digital asset in exchange for services or goods. Digital assets issued on the ABEYCHAIN will be able to access XSwap, the decentralized exchange, at no cost.

  • ABEYCHAIN’S Stablecoin ACT 

ACT (aCash) is the official stablecoin of the ABEYChain. ACT is a stable token with a 1:1 parity to USDT. ACT is mined when it is purchased with mainstream cryptos such as BTC, ETH, BCH and LTC, and burned when it is “cashed out” of the system.  The ABEY 2.0 Wallet will support conversion of ACT to USDT through aPay Payment Services.

  • ABEYCHAIN’s NFT Platform

Non-fungible tokens have taken over the world by storm. They have exciting new properties compared to traditional art: they’re unique, provably scarce, liquid, and usable across multiple applications.

The ABEYCHAIN NFT platform with a strong on the music and entertainment  industry, teams up with top artists and brands to create collections of limited edition, high-quality NFTs, exclusively available on the Music.Net platform.

Edward is a finance expert that experienced the 2007 stock market crash first hand. In 2010, he discovered Bitcoin and has been a cryptocurrency advocate ever since.

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