INTRODUCTION
The society is in the age of ICT, Blockchain is the proof of how the internet has given real world asset value, FinTech which is finance plus technology is being utilized successfully on the blockchain through smart contracts and Dapps, Financial transactions can be made, executed and recorded in a trusted public ledger. Users can now create smart contracts to act as desired for their private businesses and organizations, yet there are still some issues the blockchain encounters when smart contracts are executed, such as;
The need to import data from different blockchain, the need to verify these imported data since the blockchains are generally closed systems to account for authenticity. Simply put; there is no unity across the different blockchain platforms, importing and verifying data waste resources and time. A waste of resources on very large transactions, Smart contracts are not compatible with the vast and different chains available, etc.
What is AZBI Network?
AZBI NETWORK is the first ever blockchain that is built to support transactions on multiple chains all on one platform. The AZBI network at an infrastructural level supports EVM on multiple layers, the network is scalable and open sourced giving it the ability to upgrade and support new developing and upcoming chains.
Workings of AZBI Network Technology
Traditionally, a cross chain network requires the use of DApp supporting features, AZBI Network goes beyond this by using a multiple chain approach which makes the main chain and corresponding vertical chain to act like child chains. On the AZBI Network, a child chain is created when the vertical or main chain creates a new DApp, The Main chain generates a block MP containing the binary code smart contract which is then upgraded on the new chain to carry the binary codes on the new smart contract.
For the non-native tokens, the AZBI network creates smart contracts using tools to support ERC-20, tokens and similar protocols. The AZBI network toolkit will be used to invoke smart contracts on external blockchains through smart data analysis, issuing tokens that will follow Ethereum tokens protocols (ERC-20, ERC-721, etc), and similar chain token protocols.
To ensure a stable network, a staking and deflatory system is introduced for AZBI token usage;
AZBI STAKING SYSTEM
A 20% PA and staking system is functional and accessible at https://azbi.io/stake/
AZBI DEFLATORY SYSTEM
The network burns off 1% during AZBI token transfer and 3% is sent to staking wallet and then 96% of the AZBI being transferred is received by the recipient.
CONCLUSIONS AND FINAL THOUGHT
My people have a say; "I'll do it later, I'll do it later, said the chicken and that's why the chicken can't fly".
AZBI has given users the ability to do cross chain transaction seamlessly, don't wait for later to learn how to fly.
The POW and POS consensus mechanism would be used to verify transactions, an easy to access external chain mechanism, an EVM and Solidity smart contracts execution that gives all users ability to build Dapps and Migrate your Dapps to the first ever multi cross chain supporting platform network.
For more information please visit
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