Each coin has a story and has its own distinction as well. But such distinction is usually limited to one or two characteristics, but the currency that we are going to talk about is Apollo Currency, which has many unparalleled characteristics like no other digital currencies have.
How it was Originated?
Back in 2009, Satoshi Nakamoto developed Bitcoin (BTC) currency, at the time he could not foresee all issues that the currency might face, especially with the massive advancement of technology.
But, after 8 years, specifically in 2017, a team of specialists started establishing Apollo.
The Apollo Currency was developed, according to its creators, to collect the features of a large number of specialized currencies to one platform that combined the most useful features available of all in a single currency.
So, the aim of this crypto currency was to gather significantly more features than its competition in one place, but what was the motive behind this?
The motive behind this, as stated on the website of the currency, is that most of the currencies that preceded Apollo had many defects that allow some to hack or over-control, whether from the founders or any other, and this is what Apollo sought to get rid of.
Apollo Foundation is offering the all-in-one currency capable of replacing every other on the market, in terms of privacy.
According to Apollo Currency website, the founders’ approach was basically built on:
“To protect the blockchain vision from political pressure and regulatory interference, blockchain networks rely on a decentralized infrastructure that can’t be controlled by any one person or group.”
Problems with Other Currencies
The team who developed Apollo Currency see the main problem with all other currencies that came after Bitcoin, represented in main three things:
The first: all currencies compare themselves to bitcoin, and try to show that they are distinguished from the Bitcoin,
The second: the creation of all these currencies using the blockchain technology caused slow down of transactions due to the large number of users on the network.
The third: some loopholes in these currencies makes them lie under the imminent threat of political systems and governments.
Therefore, the main objective of developing Apollo was to get rid of these three issues and their subsequent issues.
What is Apollo Currency?
Apollo is an all-in-one currency offering its users endless possibilities that go beyond making secure payments for goods and services. Apollo is a universal currency that can be tailored to use in almost every sector of life and business.
Apollo Characteristics Like no Other Digital Currency
We are going to explain, but in brie, some of the features that are in the Apollo Currency and not available in others:
Voting System: The Apollo voting system allows users to create public or private polls for many purposes. Polls can be used to direct and manage funds from an account, elect officials or simply to gauge public opinion. This opens up near endless possibilities for collecting absolute, verified responses from designated sources. Possible use cases: Contracts, Voting, Signatures, Account Management, Arbitration, etc.
Decentralized File Storage: The Apollo data cloud allows any user to upload data to the blockchain for storage, retrieval and publishing of information.
This timestamp could be helpful in establishing an absolute date for legal documents such as contracts and intellectual ownership.
Decentralized Marketplace: The Apollo decentralized marketplace will allow users to buy, sell and trade physical and digital goods using the Apollo currency. Users can list goods to be sold locally or even worldwide.
Advanced Account Control: Accounts can be created in a way that allows group control. Utilizing the Apollo voting system a group can be granted the ability (via initial ownership or ownership of a specified token or asset) to vote on the transactions that are spent on the account.
Decentralized Exchange: The decentralized exchange is an important feature in the Apollo platform as it allows for the fast and private purchasing, selling and trading of all assets, tokens and currencies created within Apollo.
Alias System: The alias system in Apollo can be used to create unique aliases that act as a representation for a specific set of text. This will encrypt the chosen text into the alias. This text could be your account number, a website, email address, etc. A specific alias can be claimed only once (like a domain name), therefore it can be sold privately or publicly and transferred to any other account. The most obvious use for an alias is in sending funds to an account number that is tied to that alias.
Phased Transactions: Apollo supports phased transactions which are transactions set up to occur after a certain condition is met.
Authentication System: The Apollo authentication system allows users to authenticate an account using the blockchain to prove that they are the overseer of an account.
Leasing Option: The account leasing option allows the user to lease the forging power of their account to another user. This allows for the creation of forging pools, increasing the chances of generating a block, as well as generating an income from transaction fees.
Other Important Features in Apollo
Some of the other important features that add value to Apollo Currency that it uses different versions of Olympus and Hermes protocols.
Apollo also uses data sharding which allows facilitating horizontal scaling, also known as scaling out. This process will benefit Apollo by avoiding one of the most common issues that face other currencies.
Moreover, Apollo will soon integrate the ability to create complex smart contracts, could be the first quarter of 2020.
One of the greatest achievements Apollo Fintech, a platform offering innovative fintech solutions for industries, has achieved that taken the crypto community in a blow when it announced Knox Exchange launch.
Apollo Currency said through its Twitter account:
“Knox provides comprehensive security, exceptional accessibility, and unmatched simplicity. Knox eradicates traditional barriers into crypto by combining physical locations, partnerships, fiat and more.”
Another achievement of Apollo Fintech announced last week when it has reached an agreement with CBZ Bank, a state-owned commercial bank in Zimbabwe to develop three new products.
In addition to the previous mentioned features, the Apollo community, backed by the Apollo Foundation, has set out to accomplish the goal of making Apollo the most technologically advanced, feature-rich currency on the market.
Coin Story is a glimpse at a coin, in order to clarify as much as we can about it and how it emerged and the most important features and disadvantages. This does not mean writing everything about the currency, Apollo Currency or Bitcoin, for example, have many books wrote to explain them.