Introducing ABBC Coin — The next generation cryptocurrency hailing from the MENA region
Most of the cryptocurrencies of today are built to disrupt traditional banking and finance, and one of their core applications is ‘currency’ or ‘money’ with a new governance model called ‘decentralized governance model’ that takes away the central authority (like a central bank) out of the equation. However, in order for a currency to grow, we need an entire ecosystem around it that involve businesses like merchants, vendors, and the users alike.
If we look closely, the ecosystem around cryptocurrencies is still in its early stages. You can’t just go to a coffee shop and buy a cup of coffee and a tasty donut using cryptocurrencies stored in your wallet. The overall adoption of cryptocurrencies is higher on the user side, but it is extremely low when it comes to merchants, vendors and institutions. This is because of the lack of proper regulations, tax legislations, conversion fees, and all the exchange related hassle that one needs to go through in order to convert their digital assets directly into fiat.
If any shop or brand starts accepting cryptocurrencies today, they do it as a marketing strategy to get free press and attract more customers. But at the end of the day, they aren’t able to sustain it for a longer period of time because for businesses, dealing in cash or traditional banking methods is much easier and sorted our than cryptocurrencies. One other important thing is that cryptocurrencies are often treated as securities and they come under a different tax structure, which also limits its adoption into the business world.
Introducing ABBC Coin
Hailing from the MENA region, ABBC http://abbccoin.com foundation created a public blockchain with its own native currency called ABBC Coin. Unlike other blockchain platforms and foundations, ABBC is a little different! They are building a suite of different products to facilitate the consumers and give them more use cases or applications for the cryptocurrencies that they have stored in their wallets.
ABBC foundation was built with a vision to not just build a high throughput public blockchain platform, but to built an entire ecosystem around it to ensure maximum adoption from both the consumers and the business world.
They currently have three products in their pipeline:
- Aladdin Wallet — A multi-platform and multi-crypto digital asset wallet that will revolutionize crypto transactions through its built-in chat messaging function, top-level security, and extensive support for cryptocurrencies.
- Buyaladdin Online Shopping — A one-stop e-commerce application that will provide customers a convenient, secure, and efficient global marketplace using their cryptocurrency assets.
- Bitstorm Exchange Platform — A Dubai-based cryptocurrency exchange platform that allows users to deposit, store, trade, and withdraw cryptocurrencies.
For each one of their applications, ABBC coin holders get special benefits, unique perks and discounts. The products that ABBC foundation is trying to build are not just for its own native ABBC Coin, but for any cryptocurrency on the planet! ABBC Coin is powered by a high throughput blockchain platform that can handle up to 5,000 transactions per second and has a Delegated Proof of Stake(DPoS) as its main consensus algorithm that confirms all kinds of transactions on the participating nodes.
ABBC Coin is pretty new in the market and they recently launched the 2nd generation of their mainnet. Since their launch, ABBC has become the 44th largest cryptocurrency by market cap alone which is quite impressive. As of end September, a single ABBC coin is traded for $0.233 USD and has surpassed a total market cap of $129 Million USD with a daily 24h trading volume of just over $51.8 Million USD.
The total supply of coins is over 1 Billion ABBC coins which isn’t fixed and will continue to grow. Considering their recent traction, we highly recommend ABBC http://abbccoin.com to any investor who is looking to enhance their portfolio with more ‘future proof’ coins.