ALLTRA Coin is a cryptocurrency that aims to create a decentralized economy by connecting various sectors of the economy on a single platform. It aims to provide a seamless experience for users to transact, invest, and participate in different aspects of the economy. ALLTRA Coin aims to leverage blockchain technology to provide transparency, security, and efficiency in financial transactions. It also aims to empower users by giving them control over their digital assets and providing them with opportunities for growth and wealth creation.
What is The ALLTRA SmartChain
Alltra is a fully developed, EVM based, independent blockchain ecosystem, having their own coins, tokens, marketplace, projects, and exchange all hosted on the Alltra Chain Network (Alltra Chain). It enables users to buy, sell, swap, and develop.
Alltra’s coins and tokens comprise the gold-backed, hard-tethered stable coin 11::11, the Hyper-Barter Exchange (HYBX) Token, the ALL Coin, and the Alltra Dollar Coin (Alltra Dollar). The Alltra coins and tokens are already in use across multiple exchanges. They are all designed specifically to complete the ecosystem, amongst others to stimulate commerce, advancements in DeFi, maximising usage of Alltra Chain, promoting business marketing efficiencies, and developing projects.
Why Alltra Chain? Through many years of experience, we became frustrated with the cost of building and transacting (e.g., gas fees) on the Ethereum and Bitcoin networks. We decided to launch our own network and move the whole project over to it. In the end we settled on the Delegated Proof of Stake (DPoS) consensus, due to its low energy usage, very high transactions per second (TPS) rate, as well as the rewards and compensation protocol that can exist.
Alltra Chain Protocol: Alltra Chain uses the DPoS mechanism to elect a validator. Thus, this constant election of validators keeps the blockchain safe from any malicious activity. There is delegation through staking with validators. Those users who choose to stake, are referred to as ‘delegators.’ A delegator is free to choose any validator (or validators) and stake any amount of coin with them to participate. The most convenient way to delegate coin to a validator is via a chain staking platform. ALLTRA Chain is a decentralized EVM-compatible public blockchain that powers the blockchain platform and ecosystem. It is fully compatible with Ethereum, meaning that any smart contract that can be deployed on the latter can also run on top of Alltra Chain.
What is DPOS
DPoS (Delegated Proof of Stake) is a consensus algorithm used in blockchain networks. It is a variation of the Proof of Stake (PoS) consensus mechanism. In DPoS, token holders of a blockchain network can delegate their voting power to a select number of trusted entities called “delegates” or “witnesses.”
The main purpose of DPoS is to provide a more efficient and scalable consensus mechanism compared to traditional PoS or Proof of Work (PoW) algorithms. Here are some key features and benefits of DPoS:
Speed and Scalability: DPoS enables faster block confirmation times and higher transaction throughput compared to PoW or PoS. Delegates are responsible for validating transactions and producing new blocks, which allows for quicker consensus.
Decentralization: While DPoS involves a limited number of delegates, they are elected by token holders through voting. This democratic process ensures a level of decentralization, as the elected delegates represent the interests of the community.
Energy Efficiency: DPoS requires significantly less energy consumption compared to PoW algorithms, as there is no resource-intensive mining involved.
Security: DPoS provides a high level of security through regular block verification by elected delegates. The voting system and reputation-based mechanism incentivize delegates to act honestly, as they can be removed from their position if they behave maliciously.
Flexibility: DPoS allows token holders to change their vote and delegate their voting power to different delegates at any time. This provides flexibility and adaptability to the network’s changing dynamics.
Overall, DPoS is a consensus protocol that aims to provide a balance between decentralization, scalability, and security in blockchain networks.
What is 11::11 Coin
11::11 - this coin is 1/1000th of one (1) ounce (oz) of fine gold. 11::11 is backed by an ongoing, incoming gold supply through forward purchase agreements for the physical supply of gold on a monthly delivery schedule.
Why Blockchain?
There are several reasons why blockchain technology is gaining popularity and being adopted across various industries:
Decentralization: Blockchain operates on a decentralized network, meaning no single authority or organization has control over the entire system. This makes it more resistant to censorship, manipulation, and fraud.
Security: Blockchain uses cryptographic techniques to secure transactions and data. Once a transaction is recorded on the blockchain, it is nearly impossible to alter or tamper with it, making it highly secure.
Transparency: Every transaction recorded on the blockchain is visible to all participants in the network. This transparency helps to build trust as it allows for the verification and validation of transactions by multiple parties.
Efficiency and Cost Reduction: Blockchain eliminates the need for intermediaries in many processes, reducing costs, and increasing efficiency. It enables real-time settlement, eliminates paperwork, and automates processes, leading to faster and more streamlined operations.
Immutable Records: Once a transaction or data is recorded on the blockchain, it cannot be changed or deleted. This feature provides a transparent and auditable history of all transactions, making it useful for industries like supply chain management, finance, and healthcare.
Trust and Disintermediation: Blockchain technology allows parties to interact directly with each other without the need for intermediaries such as banks, brokers, or other third parties. This reduces the reliance on trust in traditional systems and enables peer-to-peer transactions.
Potential for Innovation: Blockchain has the potential to revolutionize various industries by enabling new business models and applications. It has already been applied in areas like decentralized finance (DeFi), digital identity management, supply chain tracking, smart contracts, and more.
However, it’s important to note that blockchain is not a solution for every problem and has its limitations, such as scalability issues, energy consumption, and regulatory challenges.
