Although the decentralized payment systems powered by the various digital currencies were a much anticipated development when they first came, the currencies have not been able to keep up with the expectations. Such issues as high maintenance costs, ineffective user privacy protection, reversible information processing, and low efficiency, have negatively affected the centralized transaction processing design of the various cryptocurrencies.
This is part of the reasons why more and more protocols are been developed everyday in a bid to improve on the existing protocols. But frankly even still, some of the new blockchains have not shown impressive traits for solving the prevailing challenges that have plagued the cryptocurrency space, and this has raised concerns from several quarters on the future of decentralized transaction systems, in this regard.
While this stands true, some few others have shown remarkable features, with obvious prospects of an unprecedented success in the near future. One of these top flyers is the Ambr cryptocurrency protocol, which has adopted its own data structure, and consensus agreement pattern. Ambr prides as an asynchronous smart contracts enabling platform that has its own cross chain feature with infinite augmentability.
Features Of The Ambr Protocol
The peculiarities of the Ambr blockchain is brought about as a result of the differences it presents when compared to the conventional cryptocurrency protocols. These traits have been added because of the advantages they carry, as compared to what is obtainable on the everyday blockchain. Some of these traits are:
- Ambr operates on the Directed Acyclic Graph (DAG) data structure which facilitates an impressively high throughput on the network. In addition to this, the protocol is embedded with the typical Casper consensus mechanism’s safety features; and all of this has a role to play in effecting increased scalability ratios.
- Every account on the network is provided with a private chain, and the verification chains are used for transaction checks and the confirmation processes.
- All the Ambr smart contracts are confirmed to the DAG data structure via the created Ambr virtual machine (AVM).
- Processed transactions are initiated and executed by a stratified consensus algorithm. This algorithm helps in preserving the characteristic efficiency and extensiveness of the network.
- Since there are high scalability tendencies, the Ambr network preserves its integrity through the function of the observer to ensure immutability of transaction when the protocol is processing and recording a transaction.
Other Development Plans
According to development news as stated by the project founder, 30% of the generated Ambr tokens would be pumped into community development, which is a means at building a viable community that ultimately culminates into a detailed Ambr ecosystem in the near future. All of these efforts are geared towards making the blockchain stand tall amongst the comity of players in the decentralized payment system.
About The Ambr Blockchain Founder
Ambr is founded by Charles Jia, a highly talented 22 year old who started being interested in the blockchain technology from when he was 18. Jia is now a recognized figure in the cryptocurrency circle, and he has been involved in a number of blockchain development projects, one of which is the Dubai future accelerators’s blockchain project.