Quick jump
Hello and welcome to this blog post about AMP White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Amp white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Amp (AMP).
I can ensue you that, you will be able to understand every bits and pieces related to Amp (AMP) after going through the Amp white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Amp White Paper
Amp white paper will be going to provide you, all the information that is needed to get started with Amp (AMP), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Amp (AMP).
Abstract
“ Digital assets are quickly becoming the predominant medium of exchange for global commerce, but their universal acceptance is limited by the high cost of transaction validation. The key to unlocking ubiquitous digital payments is to efficiently mitigate the uncertainty of achieving transaction finality.
These problems are economically resolved through an open, extensible collateral system utilizing public verification of state via distributed convergence mechanisms. Amp is a collateral token designed to decentralize the risk in a payment transaction, dramatically reducing the assurance cost from existing counterparty networks.
Amp incorporates a novel partition interface within an original framework of partition strategies to facilitate the interoperability of staking contracts for any surety mechanism. Using specific partition strategies, Amp can enable tokens to be conditionally allocated as collateral without requiring transfers to another smart contract.
In this way, the system preserves asset custody, substantially improving the simplicity and safety of staking collateral. Within distributed tokenized financial networks, Amp serves as a medium for accruing value while aligning the incentives of all participants.
This is achieved via virtuous feedback loops of increasing spending capacity coupled with a non-inflationary reward distribution. Fundamental economic models are derived to demonstrate that Amp functions as low-volatility collateral, with its value compounding exclusively as a result of the utility it provides.
By enabling decentralized ownership and participation in financial networks, applications built on Amp can become orders of magnitude more costefficient than existing systems, and help eliminate the overwhelming deadweight loss of traditional social and economic structures for financial transactions.”
White Paper Link: Amp (AMP) White Paper
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