Adonis Network BlockChain | Adonis Blockchain (ADON)
Adonis Blockchain (ADON)
Advantages of Adonis blockchain (ADON) and its Algorithm
The entire ADON ecosystem is akin to being a decentralized, self-organizing, virtual private on-demand network (VPN), but for money. Adonis Network is constantly developing and refining ADON Coin with characteristics like:
1. Currency-flow balancing incentivizes decentralization and minimizes outside monetary policy involvement.
2. Staking with stack block reward emission enables more efficient resource allocation.
3. Low marginal costs for devices to stake and operate Masternodes reducing barriers to entry.
4. Allowing anyone to participate at any scale and superior to other projects that demand wasteful energy requirements and hardware needs.
5. Usability of ADON Coin in all the projects based on Web 3.0, MetaVerse, NFT, gaming, and education.
6. Able to sell, buy, swap, and trade ADON in all official cryptocurrency exchanges.
There are two main types of addresses in the Adonis ecosystem: shielded and transparent. ADON coin-Shielded addresses remain hidden, and any transaction that takes place between ADON coin-Shielded addresses keeps the address, the transaction amount, and any content of the Encrypted Memo field, completely hidden. ADON coin-Transparent addresses are publicly viewable, and any transactions between them and other addresses are completely publicly viewable on the Adonis blockchain, meaning addresses and amounts are visible anytime. An owner of a shielded address may share their address and transaction details with any trusted third parties. This is accomplished through the use and sharing of specialized view keys.
An owner of a shielded address may choose to share their shielded address and transaction details with any trusted third parties. This is accomplished through the use and sharing of specialized view keys.
Proof of Stake is another advantage of Adonis blockchain's emerging consensus mechanism that needs to be performed in order to create a new group of trustless transactions (the so-called block) on a distributed ledger called a blockchain. In the new age of Digital Currencies, there has to be something to back the creation of the coins, and with that comes Proof of Stake. It is the green way of receiving (staking) crypto in comparison to the Proof of Work coins you have probably heard of with Bitcoin or Monero. They use more energy than a small country to power their blockchain. ADON coin uses far less energy than Bitcoin or Monero.
The next is staking:
Staking is the process of locking your coins for any time period set by you in order to help the network achieve consensus of proof of stake by validating every transaction that occurs on the network to be written permanently to the blockchain. In return Stakers that mint the next block are rewarded a block reward.
Whenever a user has at least 1 ADON coin in their fully synchronized ADON coin core wallet, that node then is permitted to participate in the network with its corresponding amount of stake. ADON coin uses an advanced Proof of Stake algorithm, which effectively secures the network against malicious actors. This allows ADON coin owners to receive block rewards just by helping to secure the network. Anyone who owns anADON coin can stake and receive rewards.
It is simple. Buy ADON coins on the exchange, move coins to your wallet, hold, and unlock your wallet for staking. The more coins you hold in your wallet, the more likely you will get a reward.
Hot staking is a staking method that requires the wallet containing your coins to be online 24/7 in order to receive rewards. Cold Staking allows you to delegate your ADON coin to a staking node to stake on your behalf without sending them your ADON coin. This allows you to securely stake without the need for the wallet storing your ADON coin to be kept online.
Delegating allows for your selected cold staker address to stake on your behalf without having an access to your funds. After delegating you can safely leave your wallet offline and still receive ADON coin even from a hardware wallet.
Cold staking does not require time and attention to monitor the status of your wallet and staking. Also, you do not consume any additional electricity, since your wallet does not have to be turned on. However, if you don’t run a cold staking node on your own but use 3rd party services it is worth noting that there is a dependency on those parties that provide you cold staking, and in some cases, the variables include security, service fees, and hot wallet node uptime. Remember, if a 3rd party hot wallet goes offline, you will no longer be participating in staking.
another advantage is Masternode.
A Masternode is a specially configured wallet that will support the network in more ways than a normal staking wallet. These functions require 100,000 ADON coins to start and therefore the user is rewarded for both supporting the network and locking the collateral.
Masternode reward is equal to 0.1 ADON coins and also Masternode holders gain the ability to take part in the ADON coin DAO by voting on proposals in the network.
Your 100,000 ADON coins are still yours to completely control, however, should you spend the 100K ADON coin your Masternode will stop and you will no longer earn block rewards. The 100,000 locked ADON coins simply act as collateral and allow you and your Masternode server to secure the ADON coin network.
It is recommended that the machine running the ADON coin wallet has 2GB RAM, although 1GB RAM with 1GB swap is fine. The Adonis blockchain is only ~18GB, but, for future use, it is recommended to have at least 30GB of free storage space. Additionally, a single-core processor is sufficient to run the network. With these low requirements, it’s possible to run the entire network on a 2GB RAM model Raspberry Pi.
DAO stands for Decentralized Autonomous Organization. It is simply an organization that is purely ownerless and its rules are written in a code. ADON coin DAO is governed by the ADON coin community by voting model, which is currently 1 Masternode = 1 vote. Through voting, the community can decide which proposals they want to support and fund to get the service offered in a proposal.
Any proposal submitted can be voted on. The range of the proposals varies between marketing, products, development, community management or fun projects. The community decides, YOU decide.
You vote via your wallet. There are various places to also discuss and get a read on the proposals that are up for voting in the wallet.
We feel that if you are your own bank, you should have a choice in what direction the bank goes. Voting in our DAO/Governance can be making important changes or trivial ones just like in real life. So we find it important to act in the interests of everyone who participates and everyone has a chance to. The ADON coin treasury is also completely transparent to show users that we are well established and trusted as a DAO that allows users to vote on how the funding should be used.
ADON coin has consistently had some of the lowest transaction fees in the industry (typically sends “cost” the sender < 0.004 ADON coin per transaction. Remember, these fees are burnt from the total coin supply, thus reducing inflation and assisting in stabilizing the coin value.
ADON coin transactions are incredibly fast. Watch payments remit in < 1 second, with full ability to spend/use those funds after 6 confirmations (~ 6 minutes).
For more information read the ADON Whitepaper.