ADN Whitepaper: 5 Key PointsYou Need to Know

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adncoinofficial

4 min readAug 19, 2019

ADN Whitepaper consists of the ICO platform’s technical concepts and future plans. This blog outlines 5 key points from the whitepaper in a simpler way.

Reading a whitepaper can be a tedious task for any reader, especially for those who are doing it for the first time. But for anyone who wants to understand a specific product or service, this task is nothing short of inevitable.

A whitepaper is an authoritative report that aims to inform the reader about a complex issue. In the case of cryptocurrency and blockchain technology, this report is vital to help the reader understand the intricate details of the company’s technology and product without the latter having to explain the subject over and over.

For ADN, we have published whitepaper version 1.0 within the first half of this year. In our document, we covered all technical concepts of our technology, as well as with our initial coin offering (ICO) mechanism.

While we expect all members of the ADN community to be diligent enough to read our whitepaper, we resign to the fact that some of us, given our unique circumstances, cannot apportion enough time to read our document to its last letter. That is precisely why we are summarizing our whitepaper in this blog.

The content in the ADN Whitepaper are development plans, and should we find better solutions as we go along with the development of our mainnet, we will apply the changes as we deem necessary.

1. ADN Coin’s Architecture

The ADN platform is a high-performance blockchain wherein developers can create decentralized applications (DApps). With the use of smart contracts, we allow ICO companies to hold their crowdfunding on our platform.

ADN is currently an ERC-20 token developed on the Ethereum blockchain. By late 2019, we will be set to launch our newly-minted crypto on our mainnet, allowing it to become a full-fledged coin. Some of the benefits of using ERC-20 tokens include convenience and liquidity — there are a total of 185,387 ERC-20 compatible tokens found on the Ethereum main network as of May 2019.

ADN employs different modules in the core aspect, but it primarily focuses on smart contracts and consensus. We will use our own unique stack-based virtual machine called ADN Virtual Machine (AVM) and integrate Solidity as our smart contract language.

2. Consensus

We will also be using the Delegated Proof of Stake (DPoS) mechanism, which is proven to be the most efficient and scalable among consensus mechanisms. DPoS uses a reputation system and voting in real-time to achieve its consensus. Likewise, ADN community members vote for Delegated Representatives to secure the network. However, it does take time to finalize and correct the chain if one of the master nodes fail in generating blocks.

DPoS scales better than Proof of Stake (PoS), which uses a group of validators to take turns in proposing and voting for the next block — their vote depends on the size of the stake. It is also faster than Proof of Work (PoW) which uses computers in the network to solve cryptographic puzzles repetitively.

3. ADN Accounts Types

The ADN Platform consists of three main types of accounts: regular accounts, token accounts, and contract accounts.

Regular accounts are designed for standard transactions. These accounts can also trigger smart contracts for DApp development and regular transactions.

For our platform, we will be accepting the ARC-20 standard. These are tokens that are made compatible with the ADN Virtual Machine. With this, we empower token accounts to store ARC-20 tokens. ARC-20 token funds can be accessed securely through the token accounts for further advancement.

Lastly, contract accounts are smart contract accounts created by regular accounts. Smart contracts created through this type can merge on DApps per client requirements.

4. Governance

Every member of the ADN ecosystem is eligible to become a Delegated Representative (DR), with up to 21 DR positions to fill. To decide on who will fill the said positions, each member will be allowed one vote per token, and the most votes earned will be assigned the position. The ecosystem has also included a cost (10,000 ADN) for members to become a DR candidate to prevent malicious attacks.

The 21 Delegated Representatives will share up to 230,000 ADN tokens as block rewards. Those who did not win enough votes to become part of the 21 DRs will share 115,000 ADN tokens up to the 100th candidate. These 21 DRs will represent the ADN Council and will have the opportunity to improve ADN’s network parameters.

5. DApp Development

The ADN Platform will contain an array of HTTP API gateways for interacting with the network. A comprehensive JavaScript library is designed to provide API functions that enable developers to deploy smart contracts, adjust the blockchain state, contract information, trade, and many others.

ADN offers a wide selection of development tools for enabling developers to create innovative DApps. Even if developers do not have a node of their own, they can still access the ADN network and therefore can load the services hosted from the API. ADN Coin will develop a comprehensive, integrated development environment that enables developers to compile, deploy, and debug their smart contracts. This tool will contain a full internal node that creates a local private environment for smart contract testing before deployment.

Conclusion

ADN will be a pioneering blockchain platform that is aimed to protect investors within the blockchain network. It is an ICO platform that will change the infamous impression of ICOs and make a real name for itself and the crypto community.