AIAScoin: Solution to cryptocurrency inefficiencies

Recently, Cryptocurrencies have become more popular as different industries and enterprises embrace the blockchain technology bearing in mind the potential innovation it can impact on the various industries. At the moment, Cryptocurrencies are being utilized to store wealth and for the remittance of funds with the aid of a peer-to-peer approach that is achieved by the blockchain technology. It is important to note that the most effective and successful Cryptocurrencies have the capability of providing simple p2p remittance and a vehicle that provides speculative investment. There is a huge window of opportunity that is can be easily tapped by the current Cryptocurrencies but before that, they first need to provide solutions to the current challenges. The major problems facing this industry include: poor or low transaction speeds, ease of use and fungibility.

Through the use of AIAScoin, a solution to these problems can be obtained by establishing a blockchain platform built on the basis of a Proof-of-Stake agreement mechanism while at the same time utilizing masternode technology in order to provide privacy and fungibility.

AIAScoin aims and vision for the future is to work out the development and advancement of blockchain technology to a point it is properly integrated with day-to-day aspects that are paramount for modern life. Before these vision can be achieved, blockchain’s own failures and inefficiencies need to be addressed. One of the key issues that need to be addressed is fungibility. Basically, fungibility means the ability to exchange one unit of currency for another unit of currency. For example, one Chinese YUAN can be exchanged for another Chinese YUAN. Contrarily, there some other currencies that cannot be exchanged because of their transparent transaction nature. These currencies which cannot be fungible include Bitcoin and Ethereum.

Another challenge is minimized blockchain adoption by online and offline merchants. This needs to be addressed before blockchain technology can be effectively integrated into the mainstream market. Many of the existing Cryptocurrencies of the merchants compel dealers to have expensive hardware so that they can open networks and receive payments. This is not appropriate because it raises the expenses for the dealer. In addition, many of these Cryptocurrencies are not user-friendly. It is not simple to use and the ease of use needs to be addressed because only the blockchain enthusiasts are the ones using it as a payment option.

Most problems have solutions right? The most probable solution here is to establish a privacy coin. But, because of low transaction speeds, privacy coin’s remittances are slower than other public alternatives. Most transactions that are done on privacy coin ledgers are recorded in minutes and sometimes hours and clearly, this is not conducive to be used for payment processing that should be fast and efficient. The key barrier for increased transaction speeds is the Proof-of-Work ( PoW ) consensus mechanism. PoW relies entirely on the hardware that is used to validate the transaction. These generates complicated transaction blocks and expensive mining environments, and these eventually results in decreased blockchain speeds because the transaction blocks become larger and more detailed. This creates the urgent need to establish an effective approach that has the capability of providing privacy and fungibility without hindering or limiting the speeds of these transactions.

Solution through Aiascoin

AIAScoin is the premier solution to revolutionizing cryptocurrency and payment processing industry. The company’s platform rotates around a fast, private and secure Peer-to-Peer (P2P) blockchain and an automated payment processing system that will be integrated to all blockchain websites that need it.
AIAScoin platform focuses on fast transaction speeds while at the same time providing security, fungibility and transparency on the blockchain. The company relies on Proof-of Stake as the agreement mechanism and makes use of masternodes to provide privacy which makes their network to be a fast platform that can execute transactions instantly all over the world. AIAScoin’s key aim is to make it easy for dealers to integrate blockchain technology by creating an integrated plugin that permits merchants to accept AIAScoin as a means of payment with a user friendly system.

AIAS Masternodes

AIAS Masternodes use the same kind of wallet software used in the AIAS blockchain to provide services to the network. The company employs the use of masternodes to ensure users data is secured and also fast transaction speed which combined creates the ideal ecosystem for a user friendly network.
The masternode technology used by AIAScoin also provides fungibility. These masternodes are used to make the coins untraceable. AIAScoin can be used to represent PIRVX fork. Since PIRVX fork is Dash fork, and Dash is a Bitcoin fork, then we can confidently note that AIAScoin has the functionality of these different Cryptocurrencies.

AIAS Features

Payment Processor

AIAScoin targets at developing a system that will be of advantage to both sellers and buyers. The company’s platform will permit the sellers to accept payments using AIAScoin easily. This payment processor will be easy to integrate and will also facilitate payment processing in the world as a whole. AIAScoin will make the setup time fast and simple so that even non-tech specialists able to configure the AIAScoin payment system

Easy to setup API

AIAScoin’s API will be easy to integrate on any merchant’s website. It will be as simple as plug and play. It only needs the merchant to register then add the plugin to their website. This feature will be connected to the merchant’s account giving them the ability to accept payment and remit to other businesses easily.

Negligible transaction fees

This is an incentive to the merchants since the company only requires low transaction fees. Since it is founded on PoS confirmation, there is no need for users to invest their hard-earned income on expensive, resource demanding hardware. The funds obtained from the AIAScoin system will be used for the AIAScoin system stakeholders.

Cross-Platform payments

In order to provide cross-platform functionality, AIAScoin creates several access points for wallets and accounts using a web platform through plugins. These eventually make the network easy to use across different platforms. AIAScoin permits its users to access the platform using Android, iOS phones and Windows, Linux and MacOS devices.

Safety of the Transactions

The cryptographic nature of AIAScoin makes sure all transactions are properly secured. Wallets that store coins are cryptographically secured no matter which platform they fall into.

Instant and easy payments

Here payments are almost instant and easy to make. It takes only a click from the user and payment is made without requiring an extra step. And since it is developed on PoS consensus, that transaction is processed without the problems related to resource demanding PoW computations. This makes AIAScoin effective for making online computations. You completely have no reason why you should not invest in these project.

Transparency and anonymity

As a block-chain solution, AIAScoin is transparent. All transactions are verified and permanently recorded over the blockchain as ledger blocks and in the long-run, these process ensures transparency and also minimizes and completely eliminates internal and external cases of fraud.

Conclusion

There is no doubt that Blockchain technology is taking the world by storm and has proved to be key in improving day to day entrepreneurial transactions. AIAScoin targets to improve blockchain technology by introducing a platform that is fast, secure and private, and that in itself sets it ahead in this cryptocurrency age.

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Blog by: Isaac Kimutai
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