Avesta’s mission is to make cryptocurrency easy-to-use and accessible with an all-in-one platform. Paying at a cash register, moving money, and exchanging between fiat and cryptocurrency are all still either complicated or impossible in today’s crypto-marketplace. They describe in their whitepaper:
Problems with crypto
1. Not user-friendly
The world’s curiosity towards cryptocurrency grows. Reputable media outlets have started to report on the progress of Bitcoin and other cryptocurrencies. However, while the cryptocurrency community has steadily grown, the fact remains that we are still in the early stages of expansion. And mass adoption will not happen unless blockchain platforms develop and integrate with retailers, eventually allowing to pay with cryptocurrency in a physical store as well as online.
2. High barriers to entry
Many companies are afraid to get involved in a relatively unregulated technology that, in the minds of the owners and CEOs, could endanger the business’s reputation. If they get over that hump, they run into a second hurdle that is very much real: Experienced blockchain engineers are few and far between.
1. Avesta for everyone
Avesta uses account numbers instead of tokenized addresses. By introducing account numbers which are like phone numbers or bank account numbers people can easily make transactions and keep an address book of favorite account numbers. This will also allow users to use Avesta Instant Messenger (IM) and Voice over IP (VOIP).
2. Avesta for developers
Avesta provides a framework to build Decentralized Applications (DAPP) on the blockchain. Avesta comes with full API support for Developers and users to use the blockchain functionality right from the Avesta wallet or web-platform. Avesta takes away the limitations for users and developers to create and use applications on the blockchain. This will bring in fresh ideas and solutions to the global industry.
Avesta provides a way of restoring an account in case you lose your private keys. They call this an inheritance feature, where the lost account is forwarded to children, close family, or friends.
Many blockchains suffer from slow transaction times, Avesta has created a lightning-fast blockchain, which is 60 times faster than the Bitcoin network.
At last, Avesta provides online privacy by making untraceable and anonymous transactions possible, without having to cope with a difficult transaction system.
Aydin Farhoudi has studied at a well-known business school in Belgium. He has more than 8 years of experience in the world of startups as he was the CEO of several companies he founded. One of them was Bitcause: a crypto mining, consulting and trading company.
Other experts include, Kongpop Wongrung is the mining specialist for Avesta. According to his profile, he has more than 3 years of mining experience.
The website just mentions one developer, but in total, they have recruited three blockchain developers who are working on the project. Because of privacy concerns, they don’t want to reveal their identities.
The idea seems very promising. CEO Aydin also showed me some statistics about the product: http://www.cryptocoffee.info/ As you can see here, Avesta has the lowest fees and second lowest block speed which is truly amazing. Aside from that, I’m very interested in the secure transactions. This is really needed in the blockchain and crypto space. Many people want to be able to hide the specific transaction details!
Just one small note on the project: Avesta has a very tight schedule in terms of milestones they want to reach. But, with a team of three blockchain developers, this should be possible.
Disclaimer: This Article has been published by Michiel Mulders, Editor, TheLedger.
Original Article Link: https://medium.com/@michielmulders/avesta-make-crypto-accessible-with-an-all-in-one-platform-c98c98d311cc