Bitcoin has proven that a peer-to-peer electronic cash system can indeed work and fulfill payments processing without requiring trust or a central mint. However, for an entire electronic economy to be based on a fully decentralised, peer-to-peer solution, it must be able to do the following:
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- Process transactions securely, quickly and efficiently.
- Offer a range of basic transaction types that launch cryptocurrencies past the core feature of a payment system alone.
- Provide an agile architecture that facilitates the addition of new core features.
- To run on a broad range of devices, including mobile ones.
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AMX eliminates the massive computing power and competition in Proof of Work (PoW). AMX is a Proof of Stake (PoS) cryptocurrency.
Blockchain
As in other cryptocurrencies, the ledger of AMX transactions is built and stored in a linked series of blocks, known as a blockchain. This ledger provides a permanent record of transactions that have taken place, and also establishes the order in which transactions have occurred. A copy of the blockchain is kept on every node in the AMX network, and every account that is unlocked on a node has the ability to generate blocks, as long as at least one incoming transaction to the account has been confirmed 1440 times. Any account that meets these criteria is referred to as an active account.
BASIC PAYMENTS
The most fundamental feature of any cryptocurrency is the ability to transmit tokens from one account to another. This is AMX’s most fundamental transaction type, and it allows for basic payment functionality.
DECENTRALISED ON-CHAIN EXCHANGE
Introducing one of the breakthrough feature of AMX, i.e. Decentralised On-Chain Exchange (DOCE). The AMX’s DOCE is a peer-to-peer exchange built directly into the AMX blockchain, allowing secure and fast decentralised trading on AMX.
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CRYPTO MESSAGING
The feature enables AMX users to send small amounts of either open or encrypted data to the blockchain. Crypto Messaging (CM) commonly takes the form of SMS-length communications between users.
FUTURE RESEARCH & DEVELOPMENTS
In the near future, AMX technology combines concepts and operations in multiple areas, including computing, communication networks, encryption, and artificial intelligence. AMX brings exciting new features that complement the existing features.
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SUPERIORITY OF AMX
AMX is guaranteed by encryption technology, maintained by distributed nodes in the blockchain, allowing users to reach peer-to-peer transactions on the blockchain for free without the risk of intervention of any corporate, intermediary or human factors.
TRANSPARENT FORGING
The opportunity for forging to the block is proportional to the number of AMX it holds and the number of activated AMX on the network. Also, a certain degree of randomness is required to eliminate the relative to the known forging of the attack, relatively to be as accurate as possible to reduce the use of network bandwidth.
The AMX block reward refers to the AMX distributed by the network to forgers for each successfully solved block.
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Device Portability
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Because it is a Java code, a POS hash column, and ability to trim and reduce blocks, AMX is well suited for running on small and low-power devices. Android and Apple's applications are also being developed, and AMX client has been running on low-power ARM devices, such as Raspberry Pi.
Applying AMX to low power or networking equipment is easy, for example, smart phones. These devices support most of the network. Because millions of people around the world already have smart phones, AMX can quickly get applications in these devices to support the network without having to spend a lot of money as traditional cryptocurrencies.
AMX is expected to add more new features that will enable AMX to be more dynamic and attract a larger user base. No one can specifically predict which new industries will be created, or which traditional challenges will eventually be exceeded. But we can be sure, AMX has created AMX in the world of blockchain technology. More than any time in human history will the glorious door of the future of financial technology be at the cusp of the 'intelligent” era. The future is already happening now.