Abelian FAQ Part 1: About Abelian Coin (ABE)

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What is Abelian Coin (ABE)?

Abelian Coin (ABE) is an Accountable Privacy initiative for the cryptocurrency industry. Leveraging well researched and proven cryptography, ABE allows private transactions to be audited by regulatory bodies, and applies quantum security to the design.

What is ABE’s mission?

Our mission is to be a part of the next generation of cryptocurrencies by creating the first quantum-resistant cryptocurrency with the option of having a fully private transaction. We strongly believe that the success of this project will not only bring the crypto community a quantum-resistant private cryptocurrency, but also the key cryptographic techniques which will benefit existing cryptocurrencies including Bitcoin.

What is ABE focused on now?

The Abelian Foundation’s cryptographers and engineers are working together with our academic collaborators to design, prototype, develop and deploy a full-fledged quantum-resistant cryptocurrency called Abelian Coin (ABE). We are committed to building up an ecosystem for Abelian Coin. With our strong track records on both cryptography and Blockchain, and with our team members coming from both industry and academia, we are committed to building and ensuring rapid growth of the Abelian Coin ecosystem.

What is Abelian inspired by?

The ABE design was inspired by CryptoNote, a linkable ring signature based system. We aim to support a higher level of privacy protection to the participants of ABE, that will also be able to defend against quantum attacks.

However, unlike CryptoNote, we also consider accountability in cryptocurrency. Accountability refers to the ability to accommodate an authority’s needs to open up the privacy protection of the transactions for being able to trace and link the flow of coins over coin addresses, and also the transaction amount.

Accountability should be given to an authority of an organization or consortium to identify and audit ABE transactions. Accountability will also be useful for regulatory bodies to perform monitoring duties in the cryptocurrency market.

What are the differences between Ethereum and Abelian?

Ethereum extended Bitcoin’s scripting language to a full-fledged, Turing complete programming language called Solidity. By using this new programming language, the concept of smart contracts that are immutable logical constructs is introduced. In order to launch a token on Ethereum platform, an ERC-20 standard compatible smart contract must be created. Basically, it is a collection of functions that enables creation, destruction and transfer of an asset class. Ethereum infrastructure uses a programming language, a compiler and a virtual machine to process these contracts.

Abelian Platform aims to provide the capability of issuing custom tokens, transfers them, and using them as the means of digital assets. In particular, the underlying lattice-based cryptographic algorithms ensure the security of the custom tokens to be also quantum resistant.

Who is the founder of ABE?

Dr. Duncan S. Wong, Co-Founder & CEO of Crypto BLK and Co-inventor of Linkable Ring Signature.

Who are the partners at Abelian?

It is a collaborative effort between the following research institutes, Nanyang Technological University, Shanghai Jiao Tong University, and University of Wollongong. The development is handled by Hong Kong based blockchain development firm CryptoBLK.

Who is providing the technological research support?

ABE is a collaborative effort between Nanyang Technological University, Shanghai Jiao Tong University, and University of Wollongong. The development is handled by Hong Kong based blockchain development firm CryptoBLK.

What role does blockchain play in ABE?

Blockchain is an inter-disciplinary technological work which intertwines well-researched computer science algorithms and cryptographic techniques to create an ingenious cryptocurrency, changing the rules of the global financial market and rebalancing economic power in the world.

Blockchain applies a consensus algorithm over a peer-to-peer computer network to provide a virtual ledger without the need for a centralized moderator. Crucial functions such as double spending prevention, time-stamping, and immutability maintains the integrity of a blockchain system, whilst the private key from an individual’s wallet provides the digital signatures required to make a transaction.

Abelian Coin (ABE) is designed, prototyped, developed and deployed by the Abelian Foundation’s cryptographers and crypto engineers. We are committed to building an ecosystem for Abelian Coin. With our strong track record on both cryptography and Blockchain. With our team members coming from both industry and academia, we aim to develop a quantum-resistant cryptocurrency with the options of supporting full privacy and accountability.

Can enterprises build on ABE?

Enterprise level applications can be built on top of the ABE platform through the use of custom tokens. Organizations will have the option of opening up their transactions to specified third-parties.