Asch project purpose and description
What is Asch?
By offering a whole array of industry standard solutions, such as custom contracts, sidechains, and app hosting, it implies that Asch is an easy plug and play ecosystem that users can easily use in their organizations. Every node has the capability to download and execute the features provided by Asch.
Asch also features an open and fully decentralized cryptocurrency referred to as XAS. The cryptocurrency can interact with DApps in the ecosystem using a 2-way peg that bridges it to the respective organization. Its traditional web-like application makes more businesses and even individuals to easily implement in different scenarios.
The platform was founded early-2017 by a team of 13 developers, though their identity remains a concealed secret. However, as an open source platform, anybody is free to participate in advancing the core code. This opens its doors for investment, peer2peer payment, and even trading in the markets.
The price of XAS performed remarkably well especially between early 2017 and early 2018. In April 2017, the value of XAS was $0.02 before growing by about 8000% by the end of January 2018. However, the period between May and August 2018 saw a serious price dip from $1.2 to $0.2 in mid-August. Even with the price shifts, the market capitalization has been growing steadily and, experts have indicated it could grow and even rival Ethereum in the coming years.
What is the problem that Asch Solves?
The blockchains’ popularity has grown at a very fast rate since inception. In 2009, Bitcoin demonstrated that it was possible to run a completely decentralized currency model.
Even with the remarkable growth in the blockchain niche, there is a general consensus in the industry that respective technology has not advanced at the expected rate.
For people who want to craft their own blockchains, the process is very complex. It could take ages or even become completely impossible. This is why most of the cryptocurrencies are only replicas of those in existence with very slight variations.
The community argues that the difficulty in development can easily plunge the blockchain progress into the rocks;
- The blockchain technology could stall over time.
- Poor development progress could open gates to security threats in respective networks.
- Failure to facilitate faster development in the niche could compromise the adoption of blockchain technology for more uses in the society.
How does Asch Solve the problem?
To address these issues, the Asch development team targeted creating a system that developers and businesses can rely on to rapidly craft new applications and even side chains. In the Asch white paper, the development team targets making the system a home for developers.
The developers’ work has been made easier with a huge margin. This was achieved through the platform architecture and features.
- The application of Delegated Proof of Stake (DPoS)
The consensus model employed at Asch is based on DPOS. This implies that only the delegates selected by the network’s nodes directly participate in voting and adding new blocks. To make the system even more effective, it is optimized using a variant algorithm of pBFT (Practical Byzantine Fault Tolerance). Under the system, the loyal nodes can easily reach an agreement on any issue and reduce the need for forks. Under the system, no fork, in O(n^2) message complexity and O(1) time complexity when t < n/3. This means that no fork can take place unless more than 1/3 of the nodes agree to harm the network.
Under the DPoS system at Asch, the system comprises of 101 delegates. All the nodes with a stake in the system are required to select the legates in the system. Then, the 101 delegates are directly involved in confirming the transactions on the Asch system. They mine new blocks on the DPoS network every six seconds. Note that for transactions to be confirmed, they have to undergo six confirmations before being considered safe.
- Use of sidechains and Decentralized applications
Asch platform has a tool that allows developers to craft sidechain systems. They are also capable of completely customizing the sidechains. This includes all the components of the side chains ranging from database, trading modes, account architecture, and consensus architecture. To make the development even easier, the Asch system allows developers to host the sidechains in the delegate nodes. The blockchain helps to progressively grow the networks for enhanced scalability without overloading the main chain.
The sidechains have opened the Asch system to easy adoption in various settings. The ability to customize the sidechains implies that you can easily alter the cost of transactions to make your operations even cheaper than most networks. You can even create a completely new blockchain and run it like other cryptocurrencies in the market.
- The Sandbox
Every Asch node is allowed to host multiple sidechains installed over the main Asch chain. However, the nodes do not have to trust the developer. In order to achieve this advanced level of operation, the Asch crafted a security mechanism referred to as a sandbox. This was an ingenious model adopted to help prevent sidechains from stealing owner’s info and harming the server. It can be compared to the Ethereum Virtual Machine that helps programs to run without accessing each others’ info.
What makes Asch better than it’s competitors?
A closer look at the Asch whitepaper and design reveals it is a platform created not to directly compete with others, but help leverage the blockchain niche to another level. This implies that most of the aspects of Asch are a careful reflection of what other platforms have to offer and comprehensively building on them. Here are some of the main things that make it a better option in the crypto industry.
- The network uses UTXO instead of account
In the common blockchain networks such as Bitcoin, the systems use accounts that save user balances. In this situation, the balance is dealt with by transition of the entire transaction system.
However, Asch utilizes UTXO (unspent transaction Outputs) that have own nominal prices and the transactions feature multiple inputs/outputs. Using UTXO implies that users have a higher level of privacy and guarantees greater transactional efficiency.
- Asch employs a relational database model
Unlike most blockchains that employ lightweight non-relational databases, Asch has opted for the relational database model. The standard non-relational database such as LevelDB and Berkely DB only support simple data structures but cannot manipulate it via SQL. Now, Asch application of relational database is better for faster transaction processing, low cost of updating data, and complex queries.
- The Asch employs side chains as opposed to the tuning-completeness scripting model
While many blockchain networks employ scripting engine that helps to transfer currency and even realizing smart contracts like arbitration and gambling, they come with serious limitations such as strict focus of length of scripts. In some cases, they only support a limited number of transactions such as in Bitcoin and Ethereum. However, Asch adopts sidechains that help to greatly improve on scalability. This is made possible because every side chain operates a separate distributed network of nodes. This means additional nodes, users, and even development teams can operate in the network.
How can Asch be categorized?
Asch can be categorized as one of the most user-friendly blockchain platform designed to help advance the blockchain network to the next level.
By simplifying the blockchain system, it implies that developers are now capable of rapidly crafting new applications templates and deploying them on the network.
- Whether you are a new or veteran developer, the platform makes it very easy to work on new products by supporting standard programming languages.
- The sidechains allow nodes/users to create networks for their systems. You can now easily come up with a sidechain to help manage the finances, business products, and other advanced applications.
- If you want to craft a new blockchain, the bulk of the work has already been covered for you. Therefore, your dream of owning a blockchain can become true very easily.
What’s Asch’s vision on Security?
The main vision of Asch vision on security closely follows its core goal of simplifying blockchain network development. The founders’ vision is to provide blockchain users and developers with an easy to use and highly secure system for greater efficiency.
To achieve the vision on security, the Asch uses the Delegated Proof of Stake (DPoS). This is embedded in the high-performance Byzantine fault tolerance algorithm that helps to make it very difficult to fork the network. This implies that as long as there are no more than 1/3 nodes trying to attack the network together, no fork can happen. This approach also reduces the risk of double spend. Other security measures to help the network achieve its security vision include;
- Passphrase hint based the advanced BIP39 algorithm, multi-signature, and second secret.
- The system adopts advanced encryption that makes it extra difficult for third parties. Even the delegates who confirm transactions can only follow the balance as opposed to pulling out individual users details.
Examples of Asch’s use cases / applications.
Asch, like other blockchain networks, can only be successful if more users take to its system. The good thing with Asch is that it has multiple applications in various industries. Here are some of the use cases of the Asch and its native cryptocurrency.
- The general user use cases: The general users are considered the primary Asch parties. They are the people who have the access to the different platform wallets. The general users are allowed to carry multiple operations including sending value using the native tokens, block browsing, running inquiries, and voting using the platform’s consensus algorithm.
- The platform trust: The trust or witnesses are the selected certifiers of the blockchain information. The witnesses are voted by the nodes in the system to run various operations on their behalf on the network. As a proof of stake platform, you can also become a delegate by holding more stakes and being active in the network.
- Developers: Developers are free to create and submit DApps that operate on a peer2peer basis. Note that though the DApps are owned and applied by the creators, they are required to strictly adhere to the specifications of the Asch platform.
- People targeting to create their own blockchains: As a platform for DApps development, it implies that Asch provides users with an opportunity to craft their own blockchains. They can even issue their own tokens and run a full platform plugged into the Asch ecosystem. It works like the Ethereum system.
- The native currency, XAS is a great investment option: Have been looking forward to joining the cryptocurrency niche? The Asch native currency is a great option to hold your funds. Simply get the right wallet and buy the tokens equivalent of the funds to be stored. Indeed, you can even trade the tokens in the markets. Remember that XAS, like other cryptocurrencies, is subject to forces of the market such as the looming regulations and fast evolving competition.
- Use XAS to pay for goods and services: Like BTC and ETH, you can also use XAS cryptocurrency to buy products and services. As more online, e-commerce, and online services come out to accept payment via digital assets, you will only need to have ample XAS to complete transactions.
- Using XAS to pay for taxes: As more countries explore the regulation of application of digital assets in their jurisdictions, it is now emerging that you can even pay taxes using cryptocurrencies. In Arizona, the state parliament passed bill SB 1091 that allows users to make payment for their taxes with cryptocurrencies. Once the payment is effected, the department converts the coins to fiat and credits it to the respective payer’s tax account. Check your jurisdictions to establish whether you can also pay for government services with XAS.