Abey (ABEY)
Rank #605
Market snapshot
- Price
- $0.020198
- Market cap
- $21.2M
- 24h volume
- $10,229.67
- Circulating supply
- 1,049,966,490.5066
- Total supply
- 1,347,257,756.5056
- Max supply
- 1,409,147,800.161
What is Abey?
Abey is an EVM compatible Layer 1 blockchain designed to facilitate decentralized applications and transactions. It operates without downtime, ensuring continuous availability for users. The platform aims to provide environment for developers and users alike, allowing for seamless interaction within the blockchain ecosystem.
How Abey works
Abey operates using a Delegated Proof-of-Stake (DPoS) consensus mechanism, where token holders elect a committee responsible for validating transactions. This structure allows for efficient transaction processing and governance. Additionally, unrelated transactions are executed in parallel, optimizing the network's performance and throughput, which enhances the overall user experience.
Key information
- Symbol
- ABEY
- CMC rank
- #605
- Network / platforms
- N/A
- Categories
- N/A
- Date added
- Dec 30, 2021
Key characteristics
Abey features an open-source design that encourages community participation and development. Its DPoS consensus mechanism helps maintain the network's efficiency and security. The platform's architecture allows for the execution of multiple transactions simultaneously, improving transaction speed and reducing congestion.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Abey (ABEY)?
- Abey (ABEY) is a cryptocurrency that operates on the Abey blockchain, which is EVM compatible and has maintained no downtime since its launch.
- How does the Abey network operate?
- Abey uses a Delegated Proof-of-Stake consensus mechanism, where token holders elect a committee to validate transactions, and unrelated transactions are executed in parallel for optimization.
- What are the technical characteristics of Abey?
- Abey features an open-source design and utilizes a DPoS consensus mechanism, allowing for efficient transaction processing and community participation.
- What are the risks associated with transferring Abey?
- Digital asset prices can be volatile, and users should verify asset and network before transferring assets to avoid potential losses.
- How can I verify the acquisition of Abey?
- Verify the asset name, network, and the destination details before transferring. Ensure the destination address is correct before sending assets.
- Where can I find official resources for Abey?
- Official resources for Abey can be found on their website at https://abey.com, and their technical documentation is available at https://docs.abey.com.
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