MCK BOUNTY: Overview of the crypto currency project ALPHA X

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Hello everyone, followers of my blog! In today's review we will talk about one ambitious and promising blockchain project to create a new, ultra-fast and anonymous crypto currency, with many functions. The name of this project is ALPHA X, and their coin is called AX COIN.

Problems of modern crypto currencies

To begin with, we will analyze in detail the current situation on the cryptocurrency market.

There are many problems in this area. This is the reason why new currencies all appear and appear. It all started a few years ago, when the market (although there was no market at that time) was attended only by crypto currency “gold” - bitcoin. Then, a team of intelligent developers, not satisfied with the low speed of processing transactions on the Bitcoin network, as well as high commissions, decided to remedy the situation by creating their own alternative, and released the first alto, litecoin. Its very name speaks of its purpose - easy and fast. The speed of transactions in the lightcoin network exceeds the speed of the same in the cue ball as much as 9 times (7 transactions per second against 56), and the commission remains record low to this day.

But progress did not stand still and the blockchain developed more and more, here and Vitalik Buterin with smart contracts and the Ethereum network pulled up, and Dash with their idea of complete anonymity, then the cue-ball developers themselves understood the mistakes of their system and decided to make hard btc which we got bitcoin cash. But still, there is still no crypto currency that combines all the positive qualities of other currencies - both transaction speed, network scalability, and anonymity, and security. Everyone has everything individually - dash is the safest, eth is the smartest, ripple is the fastest, but each of these crypto currencies has its drawbacks. The ambitious team of Russian developers from the ALPHA X project is trying to fix it. Whether they succeed or not, it is rather difficult to understand,given the current huge competition in the market, and the general decline in interest in the crypto industry and the withdrawal of large institutional investors from the game. But let's look at the currency ALPHA X in more detail and consider all its features.

Advantages of crypto currency ALPHA X compared to competitors

As I said, the developers of the ALPHA X project want to create an ideal currency, which would also be in demand, like traditional payment systems (like Visa and Master Card) at the moment. A new generation of crypto currency, as they say. First of all, they work on the following points:

Maximum decentralization of the system. The creators of ALPHA X plan to completely eliminate the human factor from the scope of project management. All decisions on network changes will be made by the excluded community consisting of holders of AX Coin tokens. The more in the hands of the owner of these tokens - the stronger his voice in decision making. Developers at the same time will be only performers of the will of the people.

The consequence of the first paragraph is the lowest transaction fees. This is also a consequence of the protection algorithm on which the ALPHA X network operates. Along with the common PoW - proof of work algorithm, which is used in most crypto currencies and is mining in the usual sense of the word, the blocking algorithm ALPHA X will use the principle of PoS - proof of stake . The essence of this method is that the right to create a new block is received not by the one who has more powerful equipment, but the one who holds more tokens of the system. This approach eliminates the huge energy costs associated with mining, and also saves users from having to reward miners with transaction fees.

Security and encryption. The creators of ALPHA X understand that it is impossible to create a reliable cryptocurrency currency without an adequate level of security. In the ALPHA X system, serious measures will be taken to encrypt data, which in addition to network security will lead to a high level of anonymity, which the developers are sure will exceed the level of anonymity on the dash network.

Own P2P market. In order to increase the value of their currency and make it possible to use not only in trade and speculation, they will also launch their own marketplace, where you can sell various goods and services for AX Coin coins. The P2P model - peer to peer - assumes that all trade will be carried out directly from the supplier to the buyer, without the participation of intermediaries. The intermediary will formally be, but the blockchain itself will act as opposed to various banking corporations and payment systems. This market will also be filled by the participants themselves.
Based on the foregoing, it is safe to say that the ALPHA X cryptocurrency idea is really ambitious, and if developers can bring the project to the end, then this currency will really become very popular, not only among investors and traders, but also among ordinary people distant from the crypto monetary industry.