Blockchain technology has come a long way since Bitcoin was introduced over a decade ago. While the number of use cases for blockchain technology continues to grow, there is one inherent problem that haunts the developer community - scalability. Many attempts to solve the problem of scalability have resulted in a decrease in speed or the level of decentralization. In fact, this endless loop is now called the "Blockchain Trilemma". But not until ABEYCHAIN 2.0 just solved this problem.
POW, DPOS AND FRUITCHAIN ARE THE PERFECT RECIPE
Launched 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 perfect balance of scalability, speed, decentralization, and interconnection. With these features, ABEYCHAIN 2.0 has ended the longstanding Blockchain trilemma and has become a favorite of developers.
ABEYCHAIN 2.0 avoids the trade-off between decentralization and efficiency in pursuit of scalability by using the DPoS Committee as a fast chain that handles all transactions and captures the committee's oversight of the PoW node. Thus, it combines the best of the two consensus mechanisms in one protocol. In addition, the project is also modernizing the PoW algorithm, integrating Fruitchain technology to further improve the conventional Nakamoto protocol in terms of transaction cost, speed, and decentralization, eliminating the need for mining pools. Meanwhile, the use of two widely used consensus mechanisms in one protocol promotes inter-network compatibility.
PUSHING THE BOUNDARIES OF DEFI
Decentralized Finance (DeFi) is currently one of the most popular segments in the blockchain industry. As the developer community continues to find the perfect solution for all DeFi needs, ABEYCHAIN 2.0 represents the perfect solution. The interconnection function allows it to act as a bridge between multiple blockchains, which is an integral part of many projects on different blockchains, following different standards that continue to emerge every other day. If that's not enough, the problem of the high cost of gas on the Ethereum network is forcing many to look for alternatives.
The ABEY network is offline and supports all major elements including XSwap decentralized exchange, liquidity mining, derivatives trading, collateralized loans, insurance, games, lottery, and its own ACT (aCash token), a stablecoin pegged to the US dollar. ... All crypto assets on the ABEY network are managed using the ABEY 2.0 wallet, and transactions go through aPay payment services.
MOVING BEYOND DEFI
In addition to DeFi applications, the ABEYCHAIN ecosystem supports the creation and distribution of NFTs. In fact, the project itself has partnered with artists to create their own limited edition NFTs and marketplace where they can be bought and sold alongside other similar assets.
ABEYCHAIN 2.0 also provides customers around the world with an intelligent storage area network where storage is distributed across multiple servers 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 points of failure.
ABEYCHAIN 2.0 has progressed further than most other blockchain protocols, due to its capabilities and ease of development, it can facilitate the further adoption of blockchain technology at a much faster pace than expected.