ABEY Blockchain – Former research project evolved into a powerful e-commerce solutionMarch 4, 2020
ABEY announced last week that the token of the same name will soon be listed on the Malta-based Exchange ZBX. This milestone is no coincidence for the company, but it is another important milestone for the ABEY token adoption worldwide, and its steady settlement as an impactful asset in the blockchain industry.
Back in 2017, Prof’s. Dr. Viorel Negru and Dr. Ciprian Pungila had began an academic research on how high-performance computing can offer improved blockchain-processing capabilities over classic approaches, such as those found in Bitcoin or Ethereum. With the future of fintech finding a promising outcome through blockchain technology, and the various impediments in existence at the time of Bitcoin and Ethereum, it became clear that there is a growing need for computationally-efficient mechanisms to ensure fast processing of payments, as well as comply with the strong e-commerce demands of today’s digital economy, including, but not limited to, fast transaction processing, refundable transactions and money-lending capabilities on-chain, as described in the ABEY whitepaper.
Both authors, alongside their dedicated research teams, are also a part of the Bloxberg consortium, the biggest blockchain in the world dedicated to scientific research, a project initiated by the Max Planck Digital Library, a part of the Max Planck Society (which had produced more than 30 Nobel laureates over the past 120 years). Their work with respect to ABEY continues today through dedicated research teams, that aim to take the existing work further ahead and improve upon it. With a number of published papers on the work at hand, and more research to be published soon, the ABEY research team is aiming to provide a strong and powerful alternative to the world of e-commerce, where a landscape of use-cases was quickly outlined.
Dr. Ciprian Pungila recalls: “Using blockchain technology in real-world scenarios was a hotly debated subject in several research projects. We tried to go even one step further, gradually implementing real-world requirements into our own blockchain-focused approach to e-commerce. As a consequence, the ABEY project has both an academic and a functional perspective associated to it.”
After various parties, both academic and commercial, expressed their strong interest in working together and adoption of the ABEY token throughout their ecosystem, the team decided to make their newly developed technological breakthroughs available to all, founding the non-profit organization which is today known as the Advanced Blockchain for Enhanced Yields (ABEY) Foundation.
By end of 2018, more than 100,000 wallets were amassed in 6 months as a result thereof, totaling a rate of growth 8x times faster than that of Bitcoin, in the same equivalent timespan. A strong role here was played by aPay Systems, with its product aPay as a PaaS (Payment as a Service). Given how aPay is a payment processor for crypto payments in e-commerce shops, and supports debit cards for users to spend their cryptocurrency altogether, aPay decided to adopt the technology as an incentive to bring enhanced processing capabilities to its blockchain-focused payment gateway. Rightly so, as Philipp Sauerborn, CEO of aPay, says today: “Even back then we recognized that with ABEY there was a solution on the market that had everything we needed. The fact that the diverse requirements that e-commerce companies place on payment providers could be accommodated, is surely a strong commitment to that statement.”
With the listing on ZBX, ABEY is now taking the next logical step to contribute to the mass adoption and awareness of its technology. After a promising, strong start, its trustees are rightfully optimistic: “The results from the past months make us strongly believe that we have created an efficient and viable e-commerce solution through the ABEY project’s research directions. The recognition for this makes us confident that we are on the right track with our research and its underlying technology as ABEY, that is now being proven in “Real World Use Cases”.
The ABEY Token will now be traded alongside the other major cryptos and take it place as one of the top publicly traded cryptocurrencies. the future for ABEY is bright, especially as adoption becomes more and more common. ABEY has shown the biggest advancements in Blockchain technology in the last 10 years, and will soon prove to be the blockchain of choice for years to come.
For more info about ABEY visit: http://abey.org/
For more info about ZBX visit: https://www.zbx.one/