THE AZBI TOKEN AND NETWORK OVERVIEW

Neroll
3 min readMay 24, 2020

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Every application or network has a growth model. Generally, this could encompass the revenue model, the mode of operational activity and many others. In cryptocurrencies, creating a business model is important. It serves as a sales pitch for the prospective investors to understand the potentials of their investment. AZBI is a platform developed on the blockchain network, focused on revolutionizing smart contracts and other blockchain applications. The whitepaper of the AZBI contains all investors need to know about the mode of operation and contributors reward.

THE MODE OF TRANSACTION AND DEFLATIONARY STATUS

The AZBI network utilizes a unique deflationary system. This is used during transaction processes. In essence, if an amount is sent, either for payment or other financial deals, 3% is transferred into the staking funds wallet, 1% of the token equivalence is burned and 96% is sent to the recipient. This is a system used by the AZBI network to ensure the status quo is maintained. It also ensures that there’s a constant deflation within the decentralized marketplace of AZBI.

AZBI TOKEN
Contract address: 0x21efe20be784ac5da569f72070e64525f95ccab6
Symbol: AZBI
Decimals: 18
Total supply: 20 000 000 000 AZBI

AZBI NETWORK FUNCTIONALITY

The AZBI network targets smart contracts and its traditional methods. It aims at opening the smart contract marketplace to house more ideas. The execution of the methods can be done in a hierarchical manner. In the AZBI network, it is called the main chain and child chain method. The main chain in the network will serve the purpose of providing the first step of initialization, the network search, storage model and provision, the deposit and other range of services that could be required by the child chain. In essence, the main chain, provides the child chain with all the support needed for any cross chain transaction.

Through the creation of a child chain, multiple business logics can be developed. This will remove the requirement for all the business transactions to be performed on the same chain. Through this process, the pressure that is usually rested on the main chain is reduced; which includes, the need for operation monitoring and storage provision.

In some chain with multiple nodes, transaction level sharding can be utilized automatically in the AZBI. The AZBI network would the separate each of the nodes in the chains through some defined functions. The separated groups are called the execution groups. Through this groups, network governance is established. Some qualified nodes are selected to from these governance group. Therefore, any transactions that is to be done within the system is subjected to the defined execution groups in the network. The category of transactions group could be based on the category of user that initiated transactions. The execution would then be performed and verified internally to reach a transaction level consensus. After a set amount of time, the execution groups would all package and submit the transactions lists from the groups for a consensus to be reached at block level.

CONCLUSION

The AZBI network has a properly defined token and operation system. The deflationary approach will ensure that the network remains sustainable over a longer period. The mode of network and transactions confirmation is also modelled to ensure there is no loophole within the system. Verily, AZBI will be a game changer in the cryptocurrency industry.

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Author’s Bitcointalk: Goldada

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