AVESTA mission is to make cryptocurrency easy to use and accessible to everyone with an all in one experience. While being incredibly promising and convenient, cryptocurrency is still difficult to use for most people. AVESTA aim to simplify this, where people are free to move money, pay at a cash register and exchange instantly between fiat currency and crypto currency. AVESTA are part of a constantly worldwide growing community with enthusiasts, developers and investors
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AVESTA roots are already planted into the reality, and we already have shown a proof of concept and a proof of existence. Many ICO` s are ideas with not even a real use case for the tokens they offer. Avesta is a coin with a new blockchain.Many People are asking us how the mining works, so at the same time I thought it was a good idea to share here aswell how mining in Avesta works.
Mining Bitcoin and/or Ethereum can be a wild ride. Thousands of Proof-Of-Work machines across the world compete with each other to verify millions of blockchain transactions. First place in the verification race wins a healthy stack of coins. Second place gets…nothing, the same prize won by their colleagues bringing up the rear.
Wasted energy is only the start of the problems with the current cryptocurrency marketplace. The small miners have, for the most part, been priced out. The amount of profit earned is becoming further detached from the proportional amount of work put in. The internet’s Gold Rush has turned into a frustrating goose chase.This is where Avesta comes in with a brand new, complete cryptocurrency platform that offers everything from a new currency to mine to its own transactional system inside its blockchain.
Avesta is all about creating a whole new system of incentives for blockchain miners. Instead of competing with each other for top billing, miners’ efforts are brought together. Powerful systems will still earn their fair share, but so too will the smaller miners. Redundancy and wasted energy are reduced. It turns out people in the business of mining cryptocurrency are starting to prefer a steady stream of coins to a dramatic oscillation between peaks and valleys.
The mining of Avesta takes place in a separate place from the transactional layer, adding another factor of efficiency. With the immense amount of energy being spent on Bitcoin, the transactional speeds are still at fairly unacceptable levels to be considered useful in most marketplaces. With Avesta, however, purchase are kicked down to the database layer for verification, meaning both that mining never interferes with the speed of transaction while also eliminating the double-spend problem.
Avesta platform already ran on Avesta Blockchain technology so mining was necessary to prevent all the transactions from happening. Now we have successfully purchased the real AVE via the ICO for all future purposes, the company is tidying up final AVE transfers to ICO wallets, investors and transferring all unsold coins.
Avesta is great development because the company is still relatively new in comparison to other players on the chart. It is an indicative sign that the company has addressed user challenges and put out better solutions than its competitors. It also shows that Avesta can compete against closed source distributed ledgers.
Aydin Farhoudi CEO
Kongpop Wongrung MINING SPECIALIST
Ashwinini Khemlani VP MARKETING
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