Bitcoin Press Release:Antshares is the latest development in the Blockchain ecosystem that creates a bridge between a cryptocurrency driven financial system and real world assets. In its ongoing ICO, the platform has raised over 4400 BTC under 2 weeks.
August 29, 2016 Shanghai China – A blockchain based digital assets platform,Antshares is leveraging the power of distributed ledger technology to create a peer to peer platform that allows people to collaborate, build and share financial assets on a decentralized network.
The platform is currently in the process of running a highly successful ICO where it has already raised over 4400 bitcoins within two weeks. The ICO began on August 8, 2016 and will continue till September 7, 2016.
Overview of the Antshares Platform and its features
Antshares bridges the gap between digital and traditional financial ecosystems by allowing the creation of digital assets and conversion of real-world financial assets to virtual ones. People can register, deposit, transfer, trade and even make settlement of digital assets over Antshares network.
E-contracts and Fiat Currency Support
Activities on Antshares network are registered as e-contracts on the underlying distributed ledger. These e-contracts can be used to maintain a record of transactions and rights associated with digital assets like equities, claims, securities, financial contracts, credit points, bills and currencies. E-contracts have to be signed and verified by both the sender and the recipient, just like in real world to ensure compliance with existing legal, regulatory and compliance structures. Unlike other blockchain based financial asset platforms that use cryptocurrencies for transactions and value exchange, Antshares allows people to use fiat currency over its blockchain. The use of fiat currency makes the platform stable, unaffected by the volatility of digital currencies while being perfectly in sync with the conventional financial system.
User-controlled Identity Authentication
Antshares platform closely matches with the existing structures to ensure ease of migration from conventional documentation procedures to digital ones. The user-controlled identity authentication allows parties to the contracts to request for a digital signature from others to verify the identity of those involved in the process. The digital signatures are registered on the blockchain and it is accessible only by the parties involved in the transaction.
Antshares deviates from the existing bookkeeping norms set by the likes of Bitcoin, Ethereum and Bitshares by allowing joint book-keeping where more than one person is involved in the process. In this process, the bookkeeping nodes are generated following an internal consensus, ensuring consistency and finality of the decision, which is further reinforced by voting. The joint bookkeeping process is favorable to organizations and companies where the power to make decisions lies in the hands of more than one person.
Antshares dBFT Consensus Algorithm
The use distributed Byzantine Fault Tolerance (dBFT) Consensus Algorithm increases the fault tolerance of the distributed ledger. It allows Antshares to separate bookkeeping nodes from ordinary listening nodes that match orders and generate blocks to be added later on to the bookkeeping node. It also makes the platform more energy and time efficient.
Division of Labor of Nodes
The blockchain network in Antshares is further optimized by the clear demarcation of tasks to prevent unnecessary exploitation of members’ storage space and processing power. The bookkeeping nodes and full nodes are operated and maintained by service providers. They are responsible for storing and handling complete copies of the blockchain while individual users can access the network and conduct necessary operations using either a light node or a browser interface.
The low latency and high throughput architecture of Antshares, brought about by the use of weak trust based consensus mechanism will allow unlimited scalability of the network. With a block interval of 15 seconds, Antshares blockchain is capable of processing tens of thousands of requests per minute. Antshares private blockchains can be customized by organizations to meet their specific requirements.
In order to cut the processing time and power, the order book-keeping and order matching is delegated to a secondary layer of the blockchain instead of core bookkeeping nodes. The use of multiple layers offers greater control over transactions to Antshares users. During a transaction, orders are matched by the secondary layer of the blockchain, which then sends it to the primary book-keeping nodes for clearance and settlement. Users can decide to cancel a transaction by launching a double spend attack before the transaction is cleared by book-keeping nodes.
Antshares and AntCoin
Antshare is a digital asset representing the ownership of the Antshares platform. In order to facilitate payment of fees and other transactions for the platform’s operations, Antshares has dedicated another crypto-token called AntCoin. The platform has fixed the total number of Antshares and AntCoins at 100 million, with the smallest unit of the asset being 1 Antshare.
Few potential applications of Antshares include:
Digital Asset Exchange
Antshares is already halfway through its highly successful month-long ICO process. Within two weeks of launch, the platform has raised over 4400 bitcoins. It is the first fully refundable ICO where the investor may choose to quit and withdraw the funds any time before the launch of Antshares software. In order to maintain transparency and accountability, the platform has partnered with two reputable cryptocurrency exchanges – HaoBTC and Digital Assets Coalition Asia. Each platform holds one of the three keys to the multi-signature ICO wallet.
Those interested in participating in the ICO can do so at the following link.
Allocation of Antshares
10% to early supporters
17% to participants of ICO Phase-I
23% to participants of ICO Phase-II
50% held by Antshares team, locked for a period of one year after the launch of Antshares Mainnet.
Year One – Block 0 to Block 2,000,000 – 8 AntCoins per block Year Two – Block 2,000,000 to Block 4,000,000 – 7 AntCoins per block Similarly, the generation of AntCoins per block will be reduced by one for each 2,000,000 block intervals over the years until it reaches 1 AntCoin per block in the 22nd year.
Antshares is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only.
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