Abelian FAQ Part 2: ABE Token
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How will the ABE token be used?
Abelian Coin (ABE) aims to support the issuance of custom tokens on the Abelian platform similar to ERC20 tokens for Ethereum. This will enable the developer community in the ABE ecosystem to issue custom privacy-enabled, quantum-resistant tokens.
How will custom tokens be featured?
The Abelian Platform aims to provide the capability of launching custom tokens without having the burden of creating and maintaining a generic dApp infrastructure. Instead of creating a programming language, compiler and virtual machine, the Abelian platform will adopt either an on-chain approach similar to Bitcoin’s colored coins or an off-chain capability by introducing an additional token sidechain that is tracked on the main Abelian Blockchain (similar to Factom [42]). The Abelian platform will use the CryptoNote implementation as its foundation so both options are also scrutinized in terms of applicability.
What are sidechains?
In this approach, a ‘token sidechain’, which is a separate blockchain that contains custom asset classes similar to ERC20 tokens, is created. All the transactions in this ‘token sidechain’ are also quantum-resistant because the signing scheme is the same as the Abelian platform. The hash value of every ‘token sidechain’ block is stored in main Abelian platform in form of a regular transaction. Factom [42] uses a similar mechanism and anchors a proof into Bitcoin Blockchain that further secures the information in the Factom Blockchain.
What are the advantages of the ABE token?
● All custom asset transactions will be a part of the Abelian Blockchain compared to “token sidechain” approach which reduces complexity.
● This proposal may be opened for discussion to base CryptoNote implementation, therefore provoking a large developer community in discussion and implementation, benefiting all the users in the end.
● It gives flexibility of introducing scaling solutions just for main Abelian Blockchain or “token sidechain”.
● Transaction throughput of the main platform is not affected in case of a crowded ICO or a black swan event like “CryptoKitties”.
● “Token sidechain” transaction throughput is significantly better (currently Ethereum is trying to address this with Plasma).
How do I add the ABE ERC-20 custom token?
The following information will allow you to add the ABE ERC-20 custom token to compatible wallets:
Token Contract Address: 0x727DDCeda89EF59C9B16D0b4a359FF217bF92fCf
Ticker: ABE
Decimals: 18
Will the Constantinople upgrade in Ethereum affect my ABE tokens?
ABE tokens are currently an ERC-20 token, and therefore a form of smart contract on the Ethereum network. During the Constantinople fork, the smart contracts will migrate to the new chain along with everything else. So there will be NO change on the ABE token you received.
Does this mean I will receive extra tokens because of the fork?
No. Constantinople is a planned upgrade and a non-contentious fork (a fork not caused by disagreements or split between the community), the assumptions will be that all miners and nodes will be switching to the new chain.
Do I need to prepare my tokens in any way?
Nope, there is absolutely no need to do anything to prepare your tokens. Beware of any scams and remember never to disclose your private key!
