How digital identity, speed, proof of stake and ease of use can come together.
Due to the nature of Bitcoin and blockchain, it is evident that it allows users worldwide to partake in the global financial system and exchange based on the underlying trust that the network provides. Thus revolutionizing the way we use and interact with assets. Bitcoin for some time was seen as the “nerds money”, which is in a sense understandable given the nature of long string like addresses and the immutability of the network; which has had many traders in tears when sending Bitcoin into the void for making a simple mistake or typo. This is not unlike the early days of adopting new technologies. This can be said of almost every transformational technology.
There are are a number of problems that have not been addressed and it is important to see these within a collective market to understand the need as a whole. How can we improve the lives of many when sending a long string of characters of Roman numerals and letters? How can we address trust and when sending to a merchant and make auditing easier when receiving it and can it still be private? How shall we deal with rewarding people that are saving in a simple manner? How do we reward loyal and trusted node operators that keep the network stable? Is there a way to make accepting cryptocurrency easier?
By itself these are small issues collectively they paint a broader picture of the shortcomings faced today. Firstly, we started with email send and digital identities. These are, as they were, the most concerning and solves multiple problems at once. So we created a solution that will have remarkably strong traits among regular users and large corporations. It allows users to send using the receivers email address. In other words, 1BsJCiXXRa7LCFMnMj3Sw6TMriqwaQb9gw(don’t send it there please) becomes email@example.com. The first step to creating a trusted party that can be easily verified.
What about privacy?
There are transactions that take place where trust between strangers is not the most important part. Imaging giving $100 to your niece using traditional cash. There is no need for a paper trail and if digital currencies are to be used they need to be able to serve the functions of fiat with the added benefit of being digital. Therefore it needn’t be logged. The integrated zero coin protocol allows for just that.
Having a savings account that can earn interest over time is fundamental. We think that if people had a way to open a savings account they would do so. Imagine getting rewards for having coins in our mobile wallet. So we created just that. Users that wish to open an AnkerSavings account can do just that by utilizing the cold staking function in their wallet. By opening an account users can lock their coins for 90 days and receive daily interest similar to a regular saving account at a bank without operating a node or unlocking their wallet for staking.
Node operators have a critical function on the Anker network, they provide the stability the network needs and, as you will see later much more. To ensure loyalty and hard work is rewarded Anker has created a tier list of seniority for node operators where node operators earn based on their level. Their level increases by 5% every three months to a maximum of 25%. This will incentivize node operators to have as much uptime as possible. Node operators also receive voting rights with a budget that gets distributed every 3 months and put up for voting. To make it as simple as possible for people to partake and setup nodes that want to gain access we have developed the one-click node setup that gives anyone the opportunity to become an operator, further simplifying our network as a whole and giving people the tools to make things simpler.
At Anker we recognize that we are not alone but apart of a community and that adoption, any adoption, by merchants will be spread through many forms and means. As such our software does not exclude other cryptocurrencies or digital assets but incorporates them giving users and merchants easy access to payment applications, wallets, and plugins that allow for adoption to spread. The AnkerMulticurrency wallet allows for users to create a savings account, send using email send, to check the uptime of nodes deployed and to buy and sell various crypto-currencies is one place.
Having the ability to switch(exchange) coins on the go, create an AnkerSavings account, buying with a credit card and checking your node uptime was not enough. There needs to be a simple way for merchants to accept cryptocurrencies, sell cryptocurrencies or buy when needed and be rewarded for doing so. With this in mind, we built the Anker Point of Sale system, a one-stop buying selling or accepting application. What is more is merchants can easily opt to accept Bitcoin or Anker but receive fiat currency in their bank account. This is the stepping stone needed for merchant acceptance worldwide.
Off course no point of sale application will be complete without having access to your invoices.
By building a combination of utilities that uses the strengths of the blockchain with added layers of utility to the network in conjunction with software and hardware solutions that spread adoption worldwide using Anker and other cryptocurrencies have become fast, simple and easy to use.