The world today is witnessing the fall in Fiat currency value. Every country is now slowly facing destabilization in their economy. The rate of inflation is creating a problem and a lot of people around the world are suffering. In the year 2008 the economic crisis was completely destroyed the economy and is still a nightmare for everyone. That's the reason digital asset called Bitcoin was born.
Bitcoin, a cryptocurrency which is limited in supply and poses immutable, incorruptible and unhackable properties makes it more superior. Bitcoin is aiming to replace and provide a independent financial ecosystem for all. The decentralized nature eliminates the central authority control over the value and supply. Bitcoin removes country barriers and allows to transfer money instantly with less commission fee.
The original aim of Bitcoin is to provide an alternative financial ecosystem which gives economic freedom for every person around the world. People will no longer be under control of banks, government's and no need to worry about devaluation of money. People are the sole owner of their money and they have complete freedom to do anything they want with their money.
But everything is not so sweet as it seems, the limited supply of Bitcoin is creating a demand and high price volatility. People don't know what will be the value of Bitcoin tomorrow. What they can buy with bitcoin today, May or may not be buy with it tomorrow? The price volatility is hindering the global adoption of Bitcoin. To overcome these challenges stablecoins are created which are pegged with Fiat currency, USD with 1:1 ratio. But again stablecoins are not transparent in its operations and the recent Tether controversy raises a question over the utilization of stablecoins.
Rise of Ampleforth
Ampleforth is a digital asset protocol designed to facilitate smart commodity money. Ampleforth protocol uses it's own internal token called Amples, which has an elastic supply which continuously uses price information to alter the circulating supply. Ampleforth works on the principle of noncollateralized stablecoin.
The way it works is very simple, let's take an example to understand it's working principle. Let's consider if you brought 1 Ample for $1, if the market demand has increased over 100 percent that is $2 then you will have 2 Amples each worths $1. And in the similar way if the demand has decreased you will lose your Amples. This elastic supply concept differs Ampleforth from other stable coins.
Ampleforth gives the power in every individuals hand. If the demand for Amples increases or decreases your investment will have real world value and you can buy the same amount of products/goods at everytime. This gives Ampleforth a power to be used as an alternative to Fiat money. That is reinventing the money through Amples where it protects everyone individual freedom.
Clearly the new concept of elastic supply and the working principle of Ampleforth will revolutionize the Fiat and stablecoin currency. Ample will become the first choice for everyone besides Fiat currency.
Learn more about Ampleforth:
Website: https://www.ampleforth.org
Read Whitepaper: https://www.ampleforth.org/paper/
Telegram: https://t.me/Ampleforth
Facebook: https://www.facebook.com/ampleforthprotocol
Twitter: https://twitter.com/ampleforthorg
Medium: https://medium.com/ampleforth
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