A BRIEF INTRODUCTION:
Good day ladies and gentle men all over the world, and I also extend my greetings to all my dear readers across the globe. as you all know's, that I always carry you along with any good crypto related project through this wonderful CRYPTOCURRENCY ARENA BLOG.
According to the main purpose or fixed design of this article , I will be presenting you a brief introduction about blockchain
A blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a merkle tree root hash)
By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Decentralized consensus has therefore been claimed with a blockchain.
Blockchain was invented by Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin. The invention of the blockchain for bitcoin made it the first digital currency to solve the double-spending problem without the need of a trusted authority or central server. The bitcoin design has inspired other applications, and blockchains which are readable by the public are widely used by cryptocurrencies. Private blockchains have been proposed for business use. Sources such as the Computerworld called the marketing of such blockchains without a proper security model.
The first work on a cryptographically secured chain of blocks was described in 1991 by Stuart Haber and W. Scott Stornetta. They wanted to implement a system where document timestamps could not be tampered with. In 1992, Bayer, Haber and Stornetta incorporated Merkle trees to the design, which improved its efficiency by allowing several document certificates to be collected into one block.
The first blockchain was conceptualized by a person (or group of people) known as Satoshi Nakamoto in 2008. Nakamoto improved the design in an important way using a Hashcash-like method to add blocks to the chain without requiring them to be signed by a trusted party.[6] The design was implemented the following year by Nakamoto as a core component of the cryptocurrency bitcoin, where it serves as the public ledger for all transactions on the network.
In August 2014, the bitcoin blockchain file size, containing records of all transactions that have occurred on the network, reached 20 GB (gigabytes). In January 2015, the size had grown to almost 30 GB, and from January 2016 to January 2017, the bitcoin blockchain grew from 50 GB to 100 GB in size.
The words block and chain were used separately in Satoshi Nakamoto's original paper, but were eventually popularized as a single word, blockchain, by 2016. The term blockchain 2.0 refers to new applications of the distributed blockchain database, first emerging in 2014. The Economist described one implementation of this second-generation programmable blockchain as coming with "a programming language that allows users to write more sophisticated smart contracts, thus creating invoices that pay themselves when a shipment arrives or share certificates which automatically send their owners dividends if profits reach a certain level.
As of 2016, blockchain 2.0 implementations continue to require an off-chain oracle to access any "external data or events based on time or market conditions that need to interact with the blockchain.
IBM opened a blockchain innovation research center in Singapore in July 2016. A working group for the World Economic Forum met in November 2016 to discuss the development of governance models related to blockchain.
According to Accenture, an application of the diffusion of innovations theory suggests that blockchains attained a 13.5% adoption rate within financial services in 2016, therefore reaching the early adopters phase. Industry trade groups joined to create the Global Blockchain Forum in 2016, an initiative of the Chamber of Digital Commerce.
In May 2018, Gartner found that only 1% of CIOs indicated any kind of blockchain adoption within their organisations, and only 8% of CIOs were in the short-term ‘planning or [looking at] active experimentation with blockchain.
In reference with the motion of this article, Today, I will be presenting you a particular undisputed project called: AFROCHAIN
WHAT IS AFROCHAIN?
AFROCHAIN is the first blockchain for africa. It is the first step toward building a free economy for everyone, giving back the power in the hands of the people of Africa and Africa diaspora. An entire ecosystem is to be built on the AFROCHAIN blockchain. AFROCHAIN native coin is called Afrochain Token (AFR), a Afrochain Token suitable for African-market usage in line with its vision to provide access to financial services for everyone. users will be able to their own project on the Afrochain mainet. The afrochain ecosystem will be enable users to have access to education, payments, exchange, trading and investing, and lots more.
Afrochain coin (AFR) cryptocurrency technology empowers both consumers and producers in all industries with an autonomous, decentralized banking working. AFROCHAIN through its native token Afrochain Coin (AFR) is creating a worldwide, Distributed, confidence and standing solution that shall work seamlessly with mobile bills gateways on the Ethereum blockchain riding on the smart contracts technology.
ABOUT AFROCHAIN
AFROCHAIN through its native coin Afrochain Token (AFR) is creating a worldwide, Distributed, trust and reputation solution that shall work seamlessly with mobile money gateways on the Ethereum blockchain riding on the smart contracts technology. Worldwide transferable trust and reputation system The Afrochain Token (AFR) system is designed in such a way that whenever a transaction is made, the system, that is, the blockchain, will record aspects of the transaction including time, receiving and sending wallet addresses, warranty conditions, delivery time and such other required information to safeguard the integrity and trust of the system. To achieve this, confidential information will only be available to authorized users in a designed user interface. Based on those facts, Customers and Merchants will be able to register, resolve claims and rate each other, etc. when a transaction occurs, claim recorded, resolved/unresolved based on the purchase details recorded when the purchase was made, review written, etc., the smart contracts will automatically change the trust level for each of the parties involved.
AFROCHAIN VISION
Afrochain aim to use Blockchain Technology to improve the lives of Africans and African friends. To banks that do not have bank accounts by giving them access to financial services through education and equipping individuals and traders with tools and access to the Afrochain ecosystem.
AFROCHAIN BENEFITS
● Decentralized: The servers are decentralized and distributed into various servers which connected to a single network.
● Anonymous: With Afrochain (AFR), you don't have to provide your personal information or credit card info. This secures your privacy rights against the legal whims of future administrations and makes identity theft virtually impossible.
● Secured: Afrochain (AFR) is protected by next generation cryptography - beyond current military standards. This ensures that no one, including state actors, can unilaterally transfer your funds.
● Transparent: Everyone can view the transaction history on the AFROCHAIN Blockchain here on the Etherscan Block Explorer.
AFROCHAIN KEY FEATURES
The various services provided by the Afrochain Platform via Coins (AFR) along with Etherium’s Smart Contract blockchain system, enhance the Afrochain ecosystem, create solutions for Africa and other users. Some of these services are categorized as.
A system of trust and reputation that can be transferred throughout the world
This system is designed and developed to fulfill the service aspect to the user when making transactions, Blockchain will record all things or information that is carried out on the transaction. all information can only be accessed by users. Smart contracts greatly increase the trust of users involved in this project.
Payment solutions through the Mobile gateway
Afrochain, along with Etherium Blockchain, allows users to create a mobile payment system uses a distributed system Afrochain by exchanging digital currency into fiat currencies can be received by a local.
To enable the African economy to include blockchain technology
The Afrochain platform globally will develop a digital platform for payment solutions. aims to allow users to easily make various payments or transactions. With Blockchain will change the entire African economy
Cellular payments: There has been a major shift in cellular payments
Estimates of the number of mobile payment users in US stores reached 150% in 2020. And in 2016, consumers have reached $ 47.6 purchase of physical goods long distances. some countries can not enjoy infrastructure with monetary stability, such as Africa, it is only available to users who do not have access rights stable and dynamic transaction. Afrochain believes that blockchain can change all that. simplify the entire experience of buyers and sellers. Integration of third-party applications will be added in time, with the goal of creating a complete and efficient ecosystem, which is preparing a new generation of users to e-commerce. AfroWallet Ethereum will be integrated into the Escrow system.
AFROCHAIN ROADMAP PROJECT
Q 2 - 2018
Recruitment.
Feasibility Studies to help teams connect to exchange information on a PoS network.
Whitepaper preparation. Website & wallet development.
Q 3- 2018
Launch AFROCHAIN Website, DdoS Attack Protection.
Presale Program 7,500,000 million coins will be sold.
Marketing push & technical support, Development Security improvement
Q 4 - 2018
ICO Program Initial Coin Offering (ICO): 18,750,000 million coins will be sold.
Launch AFRO-DEX Platform Development (AFRO-DEX is Decentralized Digital Asset Platform for ERC20 token Exchange.)
Launch AFRO STAKING Platform, AFRO Staking Platform is New Ecosystem for Increase Value and Demand of AFROCHAIN Token. Get 10% Affiliate Bonus, 10% Staking Bonus every 15 Days, it mean your passive profit is 20% monthly.
Q 1 - 2019
Processing Listed on external exchange and Coinmarketcap.com Development of a prototype device & Preparation for card issuance
Launch Afro Marketplace
Configuration and support customer helpdesk
Q 2 - 2019
Start Development of Nilechain on the AFROCHAIN blockchain. Nilechain is an ecosystem that will be focus on improving the quality of life of African communities and its people. Through the Nilechain foundation, funds raise will help build water projects all across Africa, Solar electricity for all, bringing clean water to homes, and building Schools and Shelters.
Launch Nilechain Foundations. Building infrastructure of the African continent, Water projects.
Technical and legal fulfillment of the project, as well as creating partnerships with business partners.
Target Asian, Europe, Africa market, Korean, Japan, Thailand, Malaysia, Russia, Greece.
Q 3 - 2019
Launch AFROPAY, Payment platform
Start Developing the interface for Web Wallet, Android and IOS on the AFROCHAIN Mainet.
Q 4 - 2019
Launch of AFROCHAIN Mainet.
2020 - 2022
Improve on Network security, New website Design. New age of the AFROCHAIN Blockchain.
AFROCHAIN PROJECT PARTNERS
AFROCHAIN ICO AND TOKEN OVERVIEW
Token Distribution
Available for Private Sales: 7,500,000 AFR
ICO General Sales: 18,750,000 AFR
Detained for Teams & Developers: 11,250,000 AFRs (Locked)
Reserved for Future Development: 18,750,000 AFR Intended
for Marketing Gifts: 18,750,000
Total Available AFR Token: 75,000,000 AFR
Name Token: AFROCHAIN
Symbol: AFR
Max Supply: 75M AFR
Total Supply: 26,250,000 AFR (Pre ICO & Public ICO)
Hardcap: 11,250 ETH ($ 5,625,000)
Softcap: 3,750 ETH ($ 1,875, 000)
Exchange Rate – Pre Sales : 5000 AFR = 1 ETH ($ 0.1 / AFR)
Project protocol: ERC20 ETHEREUM Platform
Target Price December / 2018: $ 10 / AFR
MY OPINION
In my own perspectives, I can see AFROCHAIN as an innovative, incomparable and undisputed project with a great vision and unique ambition to be the most smartest and respective projects in the nearest future all over Africa and throughout the world.
CONCLUSION:
Nowadays a lot of projects are being created in different countries, But not much of them with solid standard and good qualities as AFROCHAIN does.
For more or further details, please! Kindly follow the links below:
★WEBSITE: https://afrochain.co/index
★WHITEPAPER: https://afrochain.co/AFROCHAIN_WHITEPAPER.pdf
If you really enjoy this article, Please! Kindly send a recommendation to a friend, thanks! for giving your time.
AUTHOR: Sky10net