The most-awaited Generation 2.0 upgrade on the ABBC Wallet has finally arrived. This wallet is now non-custodial and gives the users full control in accessing their wallets by giving a mnemonic phrase that works similarly as their private keys. Aside from this, the wallet will also support all ERC-20 tokens. The ABBC team managed to pull this off in conjunction with the new upgrade to the ABBC mainnet, which now handles more than 5,000 transactions per second.
Among the new ABBC Wallet’s advanced features is the resources management which enables users to stake their ABBC Coins in three different resources: CPU, NET, and RAM. Long-time crypto users may already know about this concept but for the sake of the newbies, we will give a briefer on how these resources work and how it would affect their crypto investments.
Staking and Allocation
As previously announced, the consensus protocol of the Generation 2.0 ABBC Blockchain will be Delegated-Proof-of-Stake (DPoS). Through this, transactions on our nodes can be confirmed with ease thus streamlining the overall consensus process which leads to faster confirmations.
In line with this, the allocation of resources is made possible to keep the network running efficiently. Taking EOS as an example, ABBC’s Blockchain will also allow stakeholders to invest their tokens in three resources: CPU, NET, and RAM. CPU and NET are both staked allocations that when joined together is called “bandwidth”. Network or NET indicates the throughput capacity of the network while the CPU signifies the processing time of an action to be done. RAM, on the other hand, pertains to the storage space in the network. The main difference between the three would be the staked tokens allotted for CPU and NET will stay the same and will only gain interest through time while the pricing of RAM fluctuates based on its availability in the market.
For example, in the new ABBC Wallet, an initial amount of 20 ABBC could be staked for CPU and NET (10 for each) and this could result in a 0.1% interest. Once staked, transaction fees will not be manually paid anymore. If the user wants to unstake their tokens, a 72-hour retention period is needed before the tokens will be returned to the user’s account. As for the RAM, once purchased, the actual price might change immediately depending on the free RAM available. It is volatile in nature, and transaction fees are still necessary to be paid in every transaction.
Maybe from an investor’s point of view, having immediate profits is a significant factor to purchase a higher amount of RAM. But as investors prefer this strategy, the RAM price will be volatile as well, as seen in the current RAM market. Whereas, staking allocations for CPU and NET will maintain the value of the coin and users will benefit from interests on this investment. Although value will be limited upon staking for CPU and NET, it can hugely affect the stability of the ABBC’s price. Buying and selling too much RAM will make the price shift interchangeably through a short period of time.
Think of it like riding on a train. Having too much storage (RAM) when you don’t have any luggage will just hinder other passengers who have bigger pieces of luggage. As long as you are on the train (NET) and you can ride the train again when you need to (CPU), having a sufficient amount of storage (RAM) is just what you need.
In this case, users should consider their resource allocations to manage their investment wisely. Strategies may differ from one crypto-user to another, but in order to stabilize your investment, stake through regulated resources with viable returns.
ABBC is planning to give some exciting rewards to our stakeholders! ABBC Wallet users who will be staking in CPU and NET will be eligible for an upcoming airdrop event.