Author: Gamals Ahmed, CoinEx Business Ambassadorsubmitted by CoinEx_Institution to Coinex [link] [comments]
ABSTRACTAryacoin is a new cryptocurrency, which allows for decentralized, peer to peer transactions of electronic cash. It is like Bitcoin and Litecoin, but the trading of the coin occurs on sales platforms that have no restriction to use. Further, it was created with the goal of addressing the double spend issues of Bitcoin and does so using a timestamp server to verify transactions. It works by taking the hash of a block of items to be timestamped and widely publishing the hash. The timestamp proves that the data must have existed at the time in order to get the hash. Each timestamp then includes the previous timestamp in its hash, forming a chain.
The Aryacoin team is continuously developing new use cases for the coin, including exchanges where users can exchange the coins without any fees or restrictions, and offline options where the coins can be bought and sold for cash. The coins can also be used on the company’s other platform, mrdigicoin.io. Along with the coin, there is a digital wallet that can be created and controlled by the user entirely, with no control being retained by the Aryacoin team.
1.INTRODUCTIONThe concept of Blockchain first came to fame in October 2008, as part of a proposal for Bitcoin, with the aim to create P2P money without banks. Bitcoin introduced a novel solution to the age-old human problem of trust. The underlying blockchain technology allows us to trust the outputs of the system without trusting any actor within it. People and institutions who do not know or trust each other, reside in different countries, are subject to different jurisdictions, and who have no legally binding agreements with each other, can now interact over the Internet without the need for trusted third parties like banks, Internet platforms, or other types of clearing institutions.
When bitcoin was launched it was revolutionary allowing people to transfer money to anytime and anywhere with very low transaction fees . It was decentralized and their is no third party involved in the transaction , only the sender and receiver were involved.
This paper provide a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. Bitcoin was made so that it would not be controlled or regulated but now exchanges and governments are regulating bitcoin and other cryptocurrencies at every step. Aryacoin was developed to overcome these restrictions on a free currency.
Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.
1.1 OVERVIEW ABOUT ARYACOINAryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.
Aryacoin is a blockchain based project that allows users to access their wallet on the web and mobile browsers, using their login details.
Aryacoin can be mined; it also can be exchanged by other digital currencies in several world-famous exchanges such as Hitbtc, CoinEx, P2pb2b, WhiteBit, Changelly and is also listed in reputable wallets such as Coinomi and Guarda.
Aryacoin is a coin, which can be used by anyone looking to use cryptocurrency which allows them to keep their privacy even when buying/selling the coin along with while using the coin during transactions. Proof of work and cryptographic hashes allows transactions to verified.
Stable Fee Per AYA is a unique feature of Aryacoin, so by increasing the amount or volume of the transaction, there is no change in the fee within the network, which means that the fee for sending an amount less than 1 AYA is equal to several hundred million AYA. Another unique feature of Aryacoin is the undetectability of transactions in Explorer, such as the DASH and Monero, of course, this operation is unique to Aryacoin.
Using Aryacoin digital currency, like other currencies, international transactions can be done very quickly and there are no limitations in this area as the creators claim.
Aryacoin aims to allow users to access the Aryacoin wallet via the web and mobile browsers using their login details.
Aryacoin is a peer-to-peer electronic cash system that enables users to send and receive payments directly from one party to another, and allow them to transfer funds across borders with no restriction or third party involvement. The blockchain-based system embraces the digital signature, which prevents double spending and low transfer fees, which enables users to transfer huge amounts with very low fees. The proof-of-work consensus mechanism allows each transaction to be verified and confirmed, while anonymity enables users to use the coin anywhere at any time.
According to the website of the operation, each wallet is divided into 2 or more AYA wallet addresses for each transaction, and depending on the volume of the transaction block, the origin, and destination of transactions in the network can not be traced and displayed to the public.
In fact, each wallet in Aryacoin consists of a total of several wallets. The number of these wallets increases per transaction to increase both security and privacy. Aryacoin also uses the dPoW protocol. In the dPoW protocol, a second layer is added to the network to verify transactions, which makes “51% attack” impossible even with more than half of the network hash, and blocks whose Blockchain uses this second layer of security never run the risk of 51% attacks.
AYA has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by
first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin.
1.1.1 ARYACOIN HISTORYAryacoin (AYA) is a new cryptocurrency, which has been created by a group of Iranian developers, is an altcoin which allows for decentralised, peer to peer transactions of electronic cash without any fees whatsoever. Along with the coin, there is a digital wallet that can be created and managed by the user entirely, with no control being retained by the Aryacoin team.
Aryacoin’s founder, Kiumars Parsa, has been a fan of alternative currencies and particularly Bitcoin.
“We see people from all around the world using Blockchain technology and the great benefits that came with it and it then that I decided to solve this puzzle for find a way of bringing the last missing piece to the jigsaw. The idea for Aryacoin was born.” Parsa said.
Parsa and his team of Iranian ex-pats not only persevered but expedited the project and just a year later, in the summer of 2019, the first version of Aryacoin was released. In 2020, Aryacoin is the first and only Iranian coin listed on CMC.
Parsa goes on to state that it is now the strength of the community that has invested in the coin that will ultimately drive its success, alongside its robust technology and appealing 0% network fees.
“We have thousands of voices behind Aryacoin. People for the people make this coin. It is a massive shout out for democracy. This had made us base the whole team strategy on the benefits for both our users and our traders.”
“One key example is that the network fee on AYA Blockchain is 0%. Yes, absolutely nothing, which which differentiates us from other networks. What also differentiates us from other coins is that we have AYAPAY which is the first cryptocurrency Gateway in the world which does not save funds on third party storage with all funds being forwarded directly to any wallet address that the Gateway owner requests”.
“So for the first time ever, and unlike other gateways, incoming funds will be saved on the users account with submitted withdrawal requests then made on the Gateway host website. In AYAPAY which has also been developed by the Aryacoin team, all funds without extra fees or extra costs will directly forwarded to users wallets. We have named this technology as CloudWithdrawal.”
“We are continuously challenging ourselves as it is a crowded marketplace. We are striving to have a safer Blockchain against 51% attacks, faster confirmations speeds of transactions, cheaper network fee, growing the market by cooperation with Top tier Exchangers.”
1.1.2 ARYACOIN’S MAIN GOALAryacoin’s main goal is to educate people and give them the freedom to use cryptocurrency in any way they want. Aryacoin empowers the users to transfer, pay, trade cryptocurrency from any country around the globe.
Platforms that have been created by Aryacoin Team, as well as those that will go live in future, operate on the same principle and exclude absolutely no one.
1.1.3 PROBLEM ARYACOIN SEEKS TO SOLVEAryacoin aims to provide a long-term solution to the problem of double spending, which is still common in the crypto market. The developers of the system have created a peer-to-peer distributed timestamp server that generates computational proof of the transactions as they occur.
Besides, the system remains secure provided honest nodes control more CPU power than any cooperating group of attacker nodes. While Bitcoin was designed not to be regulated or controlled, many exchanges and governments have put regulatory measures on the pioneer cryptocurrency at every step. Aryacoin aims to overcome these restrictions as a free digital currency.
1.1.4 BENEFITS OF USING ARYACOINAryacoin solution offers the following benefits:
1.1.5 ARYACOIN FEATURES1. Anonymity
The coin provides decent level of anonymity for all its users. The users can send their transactions to any of the public nodes to be broadcasted , the transaction sent to the nodes should be signed by the private key of the sender address . This allows the users to use the coin anywhere any time , sending transactions directly to the node allows users from any place and country .
2. Real Life Usage
aryacoin’s team is continuously developing new and innovative ways to use the coins , they are currently developing exchanges where the users can exchange the coins without any fees and any restrictions . They also are currently developing other innovative technologies, which would allow users to spend our coins everywhere and anywhere.
3. Offline Exchanges
They are also working with different offline vendors which would enable them to buy and sell the coins directly to our users on a fixed/variable price this would allow easy buy/sell directly using cash . This would allow the coins to be accessible to users without any restrictions which most of the online exchanges have, also increase the value and number of users along with new ways to spend the coin. This would increase anonymity level of the
coin. In addition, introduce new users into the cryptomarket and technology. Creating a revolution, which educates people about crypto and introduce them to the crypto world, which introduces a completely new group of people into crypto and a move towards a Decentralized future!
When it comes to transactions, Aryacoin embraces a chain of digital signatures, where each owner simply transfers the coin to the next person by digitally signing a hash of the previous transaction and the public key of the next owner. The recipient can then verify the signatures to confirm the chain of ownership. Importantly, Aryacoin comes with a trusted central authority that checks every transaction for double spending.
5. Business Partner with Simplex
Aryacoin is the first and only Iranian digital currency that managed to obtain a trading license in other countries.
In collaboration with the foundation and financial giant Simplex, a major cryptocurrency company that has large companies such as Binance, P2P, Changelly, etc. Aryacoin has been licensed to enter the world’s major exchanges, as well as the possibility of purchasing AYA through Credit Cards, which will begin in the second half of 2020.
Also, the possibility of purchasing Aryacoin through Visa and MasterCard credit cards will be activated simultaneously inside the Aryacoin site. plus, in less than a year, AYA will be placed next to big names such as CoinCapMarket, Coinomi, P2P, Coinpayments and many other world-class brands today.
1.1.6 WHY CHOOSE ARYACOIN?If you want to use a cryptocurrency that allows you to keep your privacy online even when buying and selling the coins, the Aryacoin team claims that AYA is the way to go. Aryacoin is putting in the work: with more ways to buy and sell, and fixing the issues that were present in the original Bitcoin, plus pushing the boundaries with innovative solutions in cryptocurrencies. You can get started using Aryacoin (AYA) payments simply by having a CoinPayments account!
1.1.7 ARYANA CENTRALIZED EXCHANGEAryana, the first Iranian exchange is a unique platform with the following features:
The feature of Smart Trading Robots is one of the most powerful features for digital currency traders. Digital cryptocurrency traders are well aware of how much they will benefit from smart trading robots. In the Aryana exchange, it is possible to connect exchange user accounts to intelligent trading bots and trade even when they are offline.
The injection of $ 1 million a day in liquidity by the WhiteBite exchange to maintain and support the price of Tether and eliminate the Tether fluctuations with Bitcoin instabilities used by profiteers to become a matter of course.
1.1.8 HOW DOES ARYACOIN WORK?Aryacoin (AYA) tries to ensure a high level of security and privacy. The team has made sure to eliminate any trading restrictions for the network users: no verification is required to carry out transactions on AYA, making the project truly anonymous, decentralized, and giving it a real use in day-to-day life. The Delayed-Proof-of-Work (dPoW) algorithm makes the Aryacoin blockchain immune to any attempts of a 51% attack. AYA defines a coin as a chain of digital signatures — each owner transfers the coin to the next owner by digitally signing the hash of the previous transaction and the public key of the next owner, and the receiver verifies the signatures and the chain of ownership.
2. ARYACOIN TECHNOLOGY
2.1 PROOF-OF-WORKThey use a proof-of-work system similar to Adam Back’s Hashcash to implement a distributed timestamp server on a peer-to-peer basis, rather than newspaper or Usenet publications. The proof-of-work involves scanning for a value that when hashed, such as with SHA-256, the hash begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash.
For their timestamp network, they implement the proof-of-work by incrementing a nonce in the block until a value is found that gives the block’s hash the required zero bits. Once the CPU effort has been expended to make it satisfy the proof-of-work, the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing all the blocks after it.
The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If honest nodes control a majority of CPU power, the honest chain will grow the fastest and outpace any competing chains. To modify a past
block, an attacker would have to redo the proof-of-work of the block and all blocks after it, then catch up with, and surpass the work of the honest nodes.
2.2 NETWORKThe steps to run the network are as follows:
2.3 AYAPAY PAYMENT SERVICES GATEWAY:According to creators Aryacoin, the development team has succeeded in inventing a new blockchain technology for the first time in the world, which is undoubtedly a big step and great news for all digital currency enthusiasts around the world.
This new technology has been implemented on the Aryacoin AYAPAY platform and was unveiled on October 2. AYAPAY payment platform is the only payment gateway in the world that does not save money in users’ accounts and transfers incoming coins directly to any wallet address requested by the gateway owner without any additional transaction or fee.
In other similar systems or even systems such as PayPal, money is stored in the user account.
2.4 CONSENSUS ALGORITHM IN ARYACOINThe devs introduced the Delayed-Proof-of-Work (dPoW) algorithm, which represents a hybrid consensus method that allows one blockchain to take advantage of the security provided by the hashing power of another blockchain. The AYA blockchain works on dPoW and can use such consensus methods as Proof-of-Work (PoW) or Proof-of-Stake (PoS) and join to any desired PoW blockchain. The main purpose of this is to allow the blockchain to continue operating without notary nodes on the basis of its original consensus method. In this situation, additional security will no longer be provided through the attached blockchain, but this is not a particularly significant problem. dPoW can improve the security level and reduce energy consumption for any blockchain.
2.5 DOUBLE-SPEND PROBLEM AND SOLUTIONOne of the main problems in the blockchain world is that a receiver is unable to verify whether or not one of the senders did not double-spend. Aryacoin provides the solution, and has established a trusted central authority, or mint, that checks every transaction for double-spending. Only the mint can issue a new coin and all the coins issued directly from the mint are trusted and cannot be double-spent. However, such a system cannot therefore
be fully decentralized because it depends on the company running the mint, similar to a bank. Aryacoin implements a scheme where the receiver knows that the previous owners did not sign any earlier transactions. The mint is aware of all transactions including which of them arrived first. The developers used an interesting solution called the Timestamp Server, which works by taking a hash of a block of items to be ‘timestamped’ and publishing the hash. Each timestamp includes the previous timestamp in its hash, forming a chain. To modify a block, an attacker would have to redo the proof-of-work of all previous blocks, then catch up with, and surpass the work of the honest nodes. This is almost impossible, and makes the network processes more secure. The proof-of-work difficulty varies according to circumstances. Such an approach ensures reliability and high throughput.
3. ARYACOIN ROADMAPApril 2019: The launch of Aryacoin; AYA ICO, resulting in over 30BTC collected
December 2019: The launch of AYA Pay
April 2020: The successful Hamedan Hardfork, supported by all AYA exchanges, aimed at integrating the dPoW algorithm, improving the security of the AYA blockchain.
June 2020: Aryana Exchange goes live, opening more trading opportunities globally
July 2020: The enabling of our Coin Exchanger
November 2020: The implementation of Smart Contracts into the Aryacoin Ecosystem
Q1 2021: Alef B goes live (more details coming soon)
4. THE NUCYBER NETWORK COMMUNITY & SOCIALWebsite: https://aryacoin.io/
Twitter: 1.1k followers https://twitter.com/AryacoinAYA
Reddit: 442 members https://github.com/nucypher
Instagram: 3.8k followers https://www.instagram.com/mrdigicoin/ Telegram: 5.9k subscribers https://t.me/AYA_Global
5. SUMMARYAryacoin (AYA) is a new age cryptocurrency that combines the best of the blockchain technology and strives to deliver high trading and mining standards, enabling users to make peer-to-peer decentralized transactions of electronic cash. Aryacoin is part of an ecosystem that includes payment gateway Ayapay and the Ayabank. AYA has a partnership with the Microsoft Azure cloud platform, which provides the ability to develop applications and store data on servers located in distributed data centers. The network fee for the AYA Blockchain is 0%. In Ayapay service, which has been developed by the Aryacoin team, all funds without extra fees or costs are directly forwarded to users’ wallets with technology called CloudWithdrawal. The devs team is introducing new use cases including exchanges where users will exchange AYA without any restrictions. You can buy AYA on an exchange of your choice, create an Aryacoin wallet, and store it in Guarda.
6. REFERENCES1) https://coincodex.com/crypto/aryacoin/
Hiya folks! Happy Diwali to everyone. Here’s your week at Parachute + partners (20 Sep - 26 Sep'19):submitted by abhijoysarkar to ParachuteToken [link] [comments]
Tons of quizzes and contests this week at Parachute + TTR. Doc Vic hosted a trivia on medicine and another one on WW2 this week in TTR. A total of 50k $PAR given away. Victor hosted another trivia there too for 25k $PAR. Sweet! The Big Brother contest came to a close with the finale this week. The winner of Big Brother was Michie, who sadly no one picked. So all 21 participants won 5K $PAR each! Another 70k $PAR was given out to other winners. Plus, $202,500 PAR have been awarded in the various Big Brother contests earlier. Huge! Thank you Gian for doing all of this. And did you get a chance to partake in Tiproom’s Mememania? 50k $PAR in prizes – 25k for top 10 winners and another 25k for 100 memes. Next week’s update will feature some of the funniest memes from the contest. Richi hosted a Movie Trivia in Tiproom for a 25k $PAR prize pot for 10 questions. Woot!
Looking good Alexis!
Catch up on the latest at aXpire from the weekly update video compiled by Joakim. This week’s 20k $AXPR burn can be tracked here. CEO Gary Markham, who sits on the board of Hedge Fund Association, travelled to an HFA event to spread the word on the project. In the last update, we shared that 2gether was hosting a blockchain and tokenization based contest named Crypto Talent in partnership with IEB Spain for students and professionals. Read more about it here. News of the competition was shared on Cointelegraph as well. You can also listen in to Founder Salvador talk about the contest here and here. Check out the 2gether T-shirt that the team wore to the South Summit next week. Neat! CEO Ramon spoke at the Finnovista Pitch Day about FinTech innovation. Salvador’s interview along with a profile of 2gether was published in The Blockchain Land. The winner of the Birdchain Art Contest was announced this week. Congratulations! Plus, some news updates on the app were shared as well.
Birdchain Art Contest winner. Wicked!
Last week we shared that the $XIO ERC20:BEP2 bridge testnet trials have gone well. Here’s a sneak peek into how it looks. Once activated (condition to the acceptance of the Binance Dex listing application), the bridge will be open for roughly a month*. Dash also talked about 3 marketing mistakes that crypto startups make commonly – paying for PR (earned media > paid media), focus on follower count (organic reach > vanity metrics), airdrops (unless done strategically). If you had questions on how the XIO system will work and help startups scale, then fret not. Zachary wrote an article and video explaining it all. The community also voted this week to opt in for an SMS update option if there were ever one. The $BOMB community survey results are also out. This set the basis for a detailed SWOT analysis of the token. An excerpt from Benjamin’s 4% burn report was published on Coinbeat as well. In this week’s discussion series, Zachary reflects on market movements and the nature of the XIO incubator program.
\*[As of today, the switch to Binance Chain has been shelved. $XIO will stay on Ethereum. But there will still be a token swap. Details will be shared in a later update]
BOMB survey results show that the community is well distributed across the globe
Fantom’s Statheros stablecoin project will be partnering with a South African bank working on a mainnet launch. Initial details of the tie-up were released. The news was covered by CFN as well. CMO Michael travelled to a CFN event in London. Click here for pics. Technical Update #14 came out too. The big exclusive at Uptrennd this week was bagging an interview Andreas Antonopoulos. Awesomeness! Loopring CMO Jay sat down with founder Jeff to talk about the road ahead for the company. In this week’s public vote, the community voted to get TomoChain a free review from Altcoin Buzz. Community member Jackson Jerry took the initiative to deliver a presentation on the platform to thousands of students during a University Blockchain Awareness tour. Writers were in for a treat with the start of an article writing challenge with a 1,750 $1UP prize pool. Say what! Like last week, this week’s Meme Monday event saw some hilarious submissions. Uptrennd also got coverage on Micky News’ PR piece. Noice! Welcome to the Sentivate crew Jack! Learn about domain extensions and universal domain systems in this detailed article and thread by Sentivate founder Thomas. Tech enthusiasts were in for a treat this week with discussion threads on 5G and packet puzzles. The latest District Weekly from District0x covers mostly dev updates from the past week. Classic memes was the theme for this week’s Meme contest :p
Old school memes FTW! Lmao
Hydro got nominated for the Florin Asia Innovation Award. Good Luck! The Hydrogen dApp store was opened up for beta testers. The store is also open source. Great! Click here to read up on the structure of the dApp store and how it was built. A number of third party partners joined the store this week including 3Box, TotleCrypto and Carbon. General Operations Manager Marcco Paez sat down for an AMA with Crypto Nation to talk about Hydro. Hope you got a chance to get your questions answered. The team was at InsureTech Connect to represent the project. Want to check out an awesome spectacle? Hydro’s article on visualising code activity in decentralised projects has some uber cool visualisations. You could create one too using Gource. The latest developer update summarises all work done in the past week on the dev front. Silent Notary announced the launch of a Consilium system which will be using its own blockchain network (IDL) for legal actions on the platform. This was necessary since the Ethereum chain is anonymous and legal proceedings require identifiable actors. The $SNTR token will continue to exist on both chains (Ethereum and IDL). For more titbits on the update click here, here, here and here. For updates on Ubikiri, make sure to join the ann channel on Telegram started recently. Full list of socials can be found here. The $LAW referral bonus started last week has seen 4000+ wallets receiving the tokens so far with more on the way. Plus, the presale details are now available on the IDL site.
Hydro dApp store dev visualisation. Beautiful
Last week, the Arena Match community voted to decide which exchange to pursue for a listing of the $AMGO token. DDEX emerged as the winner of the vote. This week, $AMGO got listed on DDEX. Also, the much awaited review of the project by the Uptrennd team was published in two parts (Part I, Part II). Blockfolio and Delta accepted $AMGO for listing on their platforms. Woohoo! Job opening alert on OST: the team is looking for a Product Lead. Apply if you’re up for it. CEO Jason explained how adding friction in early onboarding process helps achieve product-market fit in this tweet thread. Congratulations to SelfKey for becoming an official member of CryptoUK, a self-regulatory trade association based in UK. If you have considered opening an offshore bank account, check out this article on the best countries to choose from. You can make your first move using the Wallet marketplace as well. Hope you took some time out to vote for SelfKey for the Blockchain Identity Management Use Case Award. Constellation’s partnership with the US Air Force was covered by Forbes this week. The team also announced a partnership with StackPath to make node deployment scalable for enterprise clients. Co-Founder Wyatt travelled to USC, Los Angeles, to a Hyperledger meetup to talk about how blockchain protocols can achieve elasticity. Click here to watch his presentation. Bags token launched a 10k $BAGS giveaway contest for helping spread the word on the project. Sweet! The first promo video is up on the BAGS TV YouTube channel. Check it out! An Upcycle Event in the BAGS Bazaar allows you to exchange some of your tokens for $BAGS. This week, they held their 4th Bazaar Upcycle event.
And with that, it's a wrap for this week at Parachute + partners. Ciao!
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