Apollo Fintech has been a company dedicated to providing real-time solutions to different sectors. Its main objective is to redefine the fintech space by being all-inclusive while eliminating issues that could come along with this. Furthermore, it aims to solve other problems that are already affecting the financial and governmental sectors.
So far, there are several astounding projects under Apollo’s governance. Some of these include the Apollo National Currency System, Apollo Tax System, Apollo Mineral Claim System, the Knox Exchange, and many more.
Apollo Fintech has pushed the limits of blockchain technology to come up with Apollo Currency. It is the world’s first crypto to implement database level sharding. This article will give you an overview of the same and more on the currency.
Apollo has taken the position of the world’s most feature-rich currency in history. It will take a considerable period to implement everything to perfection. Thus far, every effort looks promising as the currency articulated Apollo atomic swaps, Apollo adapter, node synchronization, and more. It is a PoS coin offering users passive earnings through staking rewards. It also includes airdrops, which are another way for holders to get extra coins.
Most cryptos have limited their reach to a particular sector giving Apollo the initiative to include every use within one. It is a payment for goods and services, but it goes way beyond the commercial areas into governments and organizations.
Apollo settles upon the Hermes blockchain in harmonization with the Olympus protocol. The two elements offer the security, privacy, sustainability, and sub-seconds to 1 to 2-second transactions that come with APL. Moreover, they are the basis of the features that APL can handle without glitches.
What Makes APL the Ultimate Currency?
APL is proof that the potentials within blockchain technology are infinite. The full extent of what the technology can achieve is yet to be surveyed and experimented with. We will focus on a few of the general features that give APL the title of “the ultimate currency.”
- Privacy and Security
The state of art security of the Apollo Currency lies in the hands of the Hermes blockchain. APL is keener on the privacy of its holders. Therefore, it diversifies its elements into public and private transactions, depending on your needs.
APL has an IP masking system to protect users’ physical addresses maintaining anonymity. Coin mixing is a feature that randomly shuffles available coins for instant anonymity of funds. Encrypted messaging allows you to send and receive messages privately.
APL stretches its reach beyond payments. The blockchain has a file system that ensures secure uploading, sharing, and storage of credentials. The timestamp on the documents after upload provides their security. This feature can come in handy in government identification documents.
The Apollo alias system allows you to have control over your information without issues with remembrance. You can issue a unique text to stand for essential credentials on the platform. You can sell your alias privately or publicly.
APL network supports Linux, web, Windows, OSX, Windows, Android, IOS, and BitFi hardware wallets.
- Monetary and Asset Systems
APL facilitates buying, selling, and other trades of both physical and digital assets. It has a token system that accommodates the development of other tokens that can be used for trade on the platform. APL network allows for the backing of tokens with real-world assets, including stocks and bonds.
Apollo Fintech uses APL in its most recent developments in the government and banking sectors. Apollo is currently in the Apollo National Currency System, Government Bank Platform, Commodity Exchange, Tax system, and more.
Besides the sectors mentioned above, APL is working towards dApp infrastructure with limitless storage. It also has quantum resistance making it the first currency to utilize the technology. APL is available on Apollo’s exchange, BitMart, Altilly, and other well-known exchanges.
Apollo Currency Database Sharding
Blockchain activity in the crypto space has become a lot to handle on one database, from trading to transacting. Information stored on blocks concerning crypto trading is steadily rising to lead to an extensive and complex database.
However, Apollo Currency is looking forward to easing blockchain activities and preventing bloating by using sharding. The first segment of the project launched on April 1, 2019, at block 2,250,000. The main objective of Apollo Sharding is to reduce the period spent on approving operations and facilitate quick blockchain downloads by a user.
Through Sharding, Distributed Ledger Technologies systems will be able to work efficiently in a speedy manner and perform the required activities for every user.
Another coin boasted the sharding, but this was inaccurate information. Ethereum is one of the other blockchains that is working towards achieving database level sharding. Outside this, the only other sharding introduced is network sharding, which is different from database sharding and offers a different approach to sustainability.
How It Works
Sharding enables users to download the blockchain, since they may only need a portion of the entire system to perform transactions. The following activities take place when running the first shard:
• Apollo’s ledger system will split on each node into segments, which time or height of the blockchain can determine. Each node has to identify when the split took place.
• Each shard will execute approximately 750000 blocks.
• Later, there is an indication of every information on the shard encouraging blockchain activities to continue taking place without the need for accessing the primary ledger system.
• Execution of operations by nodes reaches a trust level after downloading the most recent segment.
Apollo currency is one of the many inventions we are yet to see from Apollo Fintech. As per a statement by Apollo’s CEO Steve McCullah, the coin came to life out of a vision to recreate the ropes of future technology.
Overall, sharding is the beginning of a long journey towards reinventing blockchain technology in cryptocurrencies. The coin has a strong backing with faithful partners and community that focuses on educating masses on the currency, hence, pushing it towards mass adoption.
Apollo Fintech recently introduced the Gold Secured Currency, which is the first stable coin to implement quantum resistance. Furthermore, the gold-backed coin grows invariably in value, as gold and gold-related assets increase. The currency is still in pre-sale available to all enthusiasts at gsxcde.com.