HANGZHOU, China, June, 26, 2018 /PRNewswire/ -- The centralized transaction processing model of digital currency over the Internet has many problems including high maintenance costs, reversible information processing, lack of privacy protection, and low efficiency. To combat this, distributed architecture greatly improves the processing of traditional transaction models and leaves room for blockchain development.
Bitcoin uses chain structure and PoW to guarantee the user's security and is widely used in commercial activities. However, along with the increase in the number of transactions, the chain structure has not been able to keep with the rapid growth in transaction volume, leading to reduced transaction efficiency. Subsequently, although there are now many different cryptocurrencies featuring consensus mechanisms such as POS, DPOS, the chain structure remains a limiting factor. Based on new data structure Directed Acyclic Graph (DAG) and new agreement protocol Casper, the real-time crypto currency Ambr has emerged.
Ambr is an asynchronous smart contract and cross-chain platform with infinite augmentability. It is based on DAG and Casper protocols, but is different from traditional blockchain consensus. Ambr integrates Casper's safety features and decentralization with DAG's ultra-high throughput, Ambr is characterized by five aspects: First, multiple accounts chain parallel and verification chain checks; Second, Ambr's Virtual Machine (AVM) perfectly solves the problem of DAG conforming to smart contracts. Third, transactions are written and confirmed by a stratified consensus algorithm, guaranteeing the efficiency and extensibility of the system. Fourth, with unlimited capacity for transaction processing, Ambr de-chain protocol introduces the role of observer to protect both sides of the transaction from fraud when the chain is detaching. Fifth, a scalable and extensible relay chain technology is used. Leveraging these five characteristics, Ambr will bring DAG into the 3.0 era.
Ambr's CEO Charles Jia is a gifted 22 year-old young man. Charles Jia is well-known in block chain circles, when he was only 18 years old, he devoted himself to cryptocurrencies and Blockchain technology and has since accumulated rich experience in the industry. He participated in developing the blockchain project for Dubai Future Accelerators. This project averaged over 100 million yuan per day for a month.
On the topic of the future of the Ambr project, Charles said, "Ambr is designed to become the leader of future blockchain technology and the foundation will continue to invest in this technology." Ambr will also inject 30% its tokens into the Ambr community to build a powerful, united, active developer community. In the future, Ambr will rely on the community to form a complete ecosystem and will keep track of the latest news and technology so as to develop into one of the most important infrastructures in the entire blockchain ecosystem.
Ambr is an asynchronous cross-chain platform that supports smart contracts. The platform ensures security while providing a high degree of flexibility, scalability, and asynchronous concurrency in real time. Unlike most other platforms, Ambr uses the Directed Acyclic Graph (DAG) data structure instead of a blockchain. DAG along with the Casper protocol make up the foundation of Ambr. Each account on Ambr has a private chain, and verification chains are used to confirm transactions between numerous account chains without any performance loss. When the Casper consensus is completed, transaction fees are applied accordingly.