Hello and welcome to this blog post about Aryacoin AYA 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 Aryacoin AYA 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 Aryacoin AYA.
I can ensue you that, you will be able to understand every bits and pieces related to Aryacoin AYA after going through the Aryacoin AYA 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.
Aryacoin AYA White Paper
Aryacoin AYA white paper will be going to provide you, all the information that is needed to get started with Aryacoin AYA, including the inspiration for creating, the problem it is trying to solve and the solution proposed by Aryacoin AYA.
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The launch of Bitcoin was revolutionary, allowing people to transfer money anytime and anywhere with very low transaction fees. With no third party involved in transactions, involving only the sender and receiver, it was the perfect model for decentralization. All transactions are verified computationally and accounts are protected with strong encryption practically impossible to break.
Along with this the base algorithm that governs Bitcoin known as Proof Of Work allows enforcing decentralization. Bitcoin was created so that it would not be controlled or regulated. However, exchanges and governments are now increasingly regulating Bitcoin and other cryptocurrencies. Aryacoin was developed to overcome these restrictions on a free currency.
Along with this, the Proof of Work algorithm which governs transactions and blocks in Bitcoin like coins also enables attacks like 51% attacks which still follows the principles of decentralization but allows an attacker to revert legit transactions if the attacker gains a significant share of mining power on the network, this attack on Bitcoin chain is nearly impossible to achieve due to the sheer amount of mining power working to enforce POW, to prevent such attacks on Aryacoin, AYA uses Delayed Proof Of Work.
White Paper Link: Aryacoin AYA White Paper
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