Monday, March 4, 2024

ABEY Foundation Exhibited at the AIBC Summit 2022 Event in Dubai

The ABEY foundation is a non-profit organisation based in Vaduz, Liechtenstein. It is the custodian of the ABEY native blockchain system as well as a platform that marked its presence at the AIBC Dubai Summit 2022.

The ABEY Foundation launches the ABEY 2.0 blockchain, ABEYCHAIN, on April 1, 2021. Since ABEY’s original release in 2018, the ABEY 2.0 protocol has undergone extensive development and marks a substantial improvement in blockchain technology.

ABEY 2.0 employs a Hybrid Consensus – Multi-Layer blockchain system that combines Delegated Proof-of-Stake (dPoS) as well as Proof-of-Work (PoW) Consensus to support High-Volume transactions while also addressing the most pressing issue facing permissionless blockchains today: the trade-off between decentralization, security, as well as efficiency.

Smart contracts, decentralized applications (dApps), NFT creation, decentralized finance (De-Fi), peer-to-peer (p2p) as well as eCommerce payments, and an unending variety of financial transactions as well as other use cases are all possible with ABEYCHAIN as the underpinning public blockchain facilities with high-speed system performance.

Advantages of ABEYCHAIN

  • Transactions at a High Rate

ABEYCHAIN uses a hybrid method to consensus, with such a delegated proof-of-stake chain (dPoS) and a second Proof-of-Work chain (SnailChain) that certifies transactions processed by the dPoS chain by the dPoS Committee chosen by ABEY 2.0 token holders. The dPoS “FruitChain” can presently process up to 3,000 Transactions Per Second (TPS) and can scale to even more processing power at some point.

  • Interoperability Across Chains

Although there are many distinct blockchains in 2021, only a few will be able to interoperate with other chains like ABEYCHAIN. ABEYCHAIN was built with maximal interoperability in mind, which implies that a wide range of high-quality crypto assets native to other blockchains can be smoothly moved onto or handled through the ABEYCHAIN with little delays.

APAY Systems is a blockchain-based payment solution created with the Crypto community to identify. BTC, ETH, BCH, EOS LTC, BCH, EOS, as well as other digital currencies can be transferred into the APAY accounts.

The deposit is subsequently transformed to aCASH, the ABEYCHAIN’s native Stable Token. Anyone can then trade with anyone who takes the ACT, load ACT onto the aPAY Card, and then use it to pay practically any retailer, or withdraw ACT in fiat from any ATM in their native currency. With USDT, ACT is valued at 1:1.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
RELATED ARTICLES

Most Popular