ABBC Coin is a cryptocurrency developed on the ABBC Blockchain platform. The platform aims to promote the spread of cryptocurrencies in retail through secure payment transactions. The focus is on improving the online shopping experience by using digital assets to ensure security and convenience for end consumers.
The ABBC platform offers three main products:
1. Multi-platform wallet supporting Bitcoin (BTC), Ethereum (ETH), and many other native cryptocurrencies and ERC 20 tokens.
2. Online shopping app allowing customers to pay with cryptocurrencies at over 50 online retailers.
3. A crypto exchange that offers secure trading with low transaction fees.
ABBC Coin was created to allow holders to participate in the platform’s development. This is done by delegating voting rights to selected block producers, who can vote on leadership initiatives. In addition, ABBC Coin serves as a reward system for online shoppers and can be staked for regular rewards.
The platform is based on the EOSIO blockchain, which allows ABBC to process up to 5000 transactions per second while remaining environmentally friendly through the energy-efficient Delegated Proof of Stake (DPoS) consensus mechanism.
The ABBC Coin is based on the EOSIO blockchain, which builds on the DPoS consensus mechanism. With this mechanism, ABBC can handle high transaction volumes - up to 5,000 transactions per second. At the same time, the system remains environmentally friendly thanks to this mechanism.
The functionality of the ABBC Coin extends across the wallet, the online shopping app, and the cryptocurrency exchange. ABBC's multi-platform wallet supports BTC and ETH, as well as a variety of other native cryptocurrencies and ERC 20 tokens. Users can securely and conveniently store and manage their digital assets.
The online shopping app allows purchases at over 50 online retailers with cryptocurrencies. These purchases are rewarded by the ABBC Coin, which serves as a reward system and is distributed to the users. Finally, ABBC's cryptocurrency exchange offers secure trading with low transaction fees, further enhancing the user experience.
ABBC Coin, known initially as Alibabacoin, had to change its name in March 2019 due to a legal dispute with the Chinese e-commerce giant Alibaba. The founders of ABBC Coin are Jason Daniel Paul Philip, the current CEO of the platform, and Hasan Abbas, the current CTO.
ABBC's Global Chief Strategy Officer is Arben Kane, the founder, and CEO of Kontur, a provider of SaaS-based solutions for managing critical events. G.W Lee is the CSO of ABBC Coin, and Zeeshan Javeed leads the ABBC Foundation for technological development and solutions.
The main advantage of ABBC lies in its mission to enable fast, efficient, and secure online retail through blockchain technology. For small to medium marketplaces, the access to additional global markets that ABBC Coin provides and the reduction of payment processing fees can be significant.
Despite its origins as a fork of Bitcoin (BTC), ABBC switched to the EOSIO blockchain in August 2019. The central advantage of the EOSIO software is that the amount of available bandwidth is not dependent on the token price, making it ideal for scalable platforms like ABBC Coin.
Furthermore, ABBC Coin is aimed at achieving full decentralization through community leadership. In addition to the current team, holders of the ABBC Coin tokens have a voting right that can be delegated, allowing others to vote on their behalf. Block producers can vote on ABBC's leadership initiatives, thus shaping the development and future of ABBC Coin.
ABBC Coin, formerly Alibabacoin, has several unique features and factors that could positively influence its price forecast. Firstly, the ABBC platform enables secure payment transactions and promotes using cryptocurrencies in retail. The platform provides a multi-platform wallet, supports a variety of cryptocurrencies, and offers an online shopping app and a crypto exchange.
Another vital aspect is ABBC's governance model. It allows token holders to steer the platform’s development by delegating voting rights to selected block producers. These block producers can vote on governance proposals, including establishing strategic partnerships, implementing new features, or expanding ABBC's services to new regions.
Another positive factor is the high transaction speed of the ABBC platform. ABBC is based on the EOSIO blockchain and can achieve up to 5,000 transactions per second (TPS). Moreover, it remains environmentally friendly due to the energy-efficient delegated Proof of Stake (DPoS) consensus mechanism.
Finally, ABBC Coins are designed as a reward system for online shoppers. They can be staked for regular rewards, creating an additional incentive layer for using the ABBC platform and the ABBC Coin.
ABBC Coin has a maximum total supply of 1,423,973,934 ABBC. As of the time of this article, about half of that was in circulation. The tokenomics of ABBC are relatively straightforward. Of the tokens generated during the Token Generation Event (TGE), 80% went to investors and 20% to the project authors and the team.
ABBC conducted an Initial Coin Offering (ICO) in 2018, raising $3.5 million by selling ABBC Coins for 0.00025 BTC per token. This was equivalent to about $1.60 per token at the time of sale.
Staking ABBC Coin is a crucial part of the ecosystem. Staking is a process where token holders "freeze" or "stake" their coins to validate network transactions. In return, they receive rewards.
In ABBC Coin, any token holder can vote for Block Producers (BPs), who can reach a consensus with other BPs. This ensures the security of the network and confirms only valid transactions. By staking the ABBC Coins, the holders can empower others to vote on their behalf. ABBC Coins can also be used as a reward system for online shoppers.
Moreover, the ABBC mainnet offers a fee-based resource model to prevent resource abuse. ABBC users can obtain NET, CPU, and RAM resources by staking ABBC Coin. These resources enable users to use the network and perform transactions effectively.
ABBC Coin can be used in various ways. One of the main applications is online shopping. The ABBC platform provides an online shopping app that allows shopping at over 50 online retailers with cryptocurrencies. In addition, ABBC Coins can be used as a reward system for online shoppers.
The ABBC platform also offers a multi-platform wallet that supports a variety of cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), as well as native cryptocurrencies and ERC-20 tokens. Users can store their ABBC Coins in the wallet and use them for transactions.
ABBC Coins can also be used for staking. Token holders can stake their coins to validate network transactions and receive rewards. They can also delegate their voting rights to selected block producers to vote on leadership proposals and thus influence the platform’s development.