AME Chain PriceAME

What is AME Chain (AME)?

AME Chain (AME) is a blockchain platform that positions itself as the world's first Quantum Secured Blockchain. It is a fast and secure decentralized digital asset ledger designed to be EVM compatible with high performance and scalability. The project, developed by AMEPAY Limited, aims to establish an unconditionally secure blockchain capable of withstanding threats arising from quantum computing. AME Chain facilitates peer-to-peer communication, smart contracts, and applications through its native currency called AME. The primary purpose of AME is to facilitate and monetize the working of AME Chain to enable developers to build and run distributed applications (Dapps). The platform is a Turing complete blockchain framework, providing a foundation for programming languages that can solve any reasonable computational problem. AME Chain began its journey with a seed sale in September 2020 at a price of $0.005 and officially launched on January 2, 2021. The project underwent a rebranding from AMEPAY to AME Chain. With a total supply of 1,000,000,000 AME and a circulating supply of 500,000,000 AME, the platform is actively operating in the DeFi and smart contract platform categories.

Key Specifications & Tokenomics

• Name: AME Chain
• Ticker / Symbol: AME
• Consensus Mechanism: Proof-of-Authority (PoA) & IBFT
• Smart Contracts: Yes, EVM Compatible
• Category: DeFi, Smart Contracts, Quantum-Resistant, Smart Contract Platforms
• Max Supply: 1,000,000,000 AME
• Total Supply: 1,000,000,000 AME
• Circulating Supply: 500,000,000 AME
• Initial Seed Sale Price: $0.005 (September 2020)
• Company / Entity: AMEPAY Limited
• Country / Jurisdiction: British Virgin Islands
• Registered Address: Intershore Chambers, P.O.Box 4342, Road Town, Tortola, British Virgin Islands
• Official Website: https://amechain.io/
• Whitepaper: https://whitepaper.amechain.io/
• Block Explorer: amescan.io
• Source Code: GitHub
• Start Date: 2021-01-02

Who created AME Chain?

AME Chain was co-founded by Javed Mohamed and Kamalakannan Venkatraman. Javed Mohamed serves as the Co-founder and CEO, and he is also the founder of two other companies, AMEPOS and Amepay. Kamalakannan Venkatraman serves as the Co-founder and COO. The project is developed under the umbrella of AMEPAY Limited, a for-profit company registered in the British Virgin Islands. The team has a presence on LinkedIn, with employees including Noel A., Obinna Orji, Alexis Perez Mendoza, and Praddos Kanna K S. The company maintains an active operational status and has a dedicated media contact for inquiries. The founding team brings entrepreneurial experience from the payments and technology sectors, which informs the development and strategic direction of the AME Chain platform.

How does AME Chain work?

AME Chain operates as a network of nodes connected in a peer-to-peer mechanism. Each node maintains a copy of the entire blockchain data store and competes with other nodes to mine the next block by validating transactions. When a new block is added, the blockchain is updated and propagated across the entire network to ensure every node remains in sync. The platform utilizes Proof-of-Authority (PoA) as its consensus method, which designates a small number of blockchain actors to validate transactions and update the distributed registry, thereby ensuring a higher transaction rate. A key differentiator is its integration of quantum security. While other blockchains use Pseudo Random Numbers (PRN) for cryptographic operations, AME Chain uses Quantum Random Numbers (QRN) generated from a laser-based quantum source. This approach secures its cryptography, including encryption, hashing, and digital signatures. The platform also implements quantum domain elements such as Quantum Random Number Generator (QRNG), Quantum Key Distribution (QKD), quantum signatures, post-quantum cryptography, certifiable randomness, Fast Byzantine Agreement, and built-in zero-knowledge proof through the QSZK computational complexity class. The No-cloning theorem prevents the copying of assets, and the No-measurement rule ensures that any eavesdropping on quantum information is evident.

What makes AME Chain unique and valuable?

AME Chain distinguishes itself through its focus on quantum security, addressing the emerging threat that quantum computers pose to traditional blockchain cryptography. The rise of quantum computers with enormous computational power threatens private key generation from wallet addresses, mining attacks by brute-forcing hashes, and breaches of peer-to-peer communication between nodes. By integrating quantum security with blockchain technology, AME Chain aims to mitigate these risks. The platform is EVM compatible, allowing developers to deploy smart contracts and create Dapps with ease. It boasts higher transactions per second (TPS) than Ethereum and BSC, and supports features like minting NFTs, creating metaverse environments, cross-chain transfers, and governance through voting. The platform is also censorship-resistant. Its use of laser-based quantum sources for generating private keys, hashes, and digital signatures, along with quantum random number generators to increase seed quality, makes it a forward-looking solution in the blockchain space. The project's tagline, "AME Chain - Speed, Secure, Scalable," encapsulates its core value proposition.

What is AME Chain used for?

AME serves as the native currency of the AME Chain network and is central to its operations. The primary purpose of AME is to facilitate and monetize the working of AME Chain, enabling developers to build and run distributed applications (Dapps). It is used to pay for transaction fees, smart contract execution, and other network services. Additionally, AME functions as a governance token, giving holders the ability to participate in governance decisions through voting. This allows the community to have a say in the future development and direction of the platform. The token is integral to the platform's capabilities, which include peer-to-peer communication, smart contracts, NFT minting, metaverse creation, cross-chain transfers, and censorship-resistant applications. As the network evolves, the utility of AME is expected to expand alongside the ecosystem of Dapps and services built on AME Chain.

How Is the AME Chain ecosystem developing?

The AME Chain ecosystem is designed to support a wide range of applications and services. The platform facilitates peer-to-peer communication, smart contracts, and distributed applications. It enables developers to mint NFTs and create metaverse environments, as well as perform cross-chain transfers. Governance features allow token holders to participate in voting. According to a February 2022 press release, the project planned to launch an auction for validator nodes to the community after the mainnet launch. Additionally, an AME Chain Block explorer and an AME Chain decentralized wallet were slated for launch shortly thereafter. The block explorer is now accessible at amescan.io. The ecosystem is built to be EVM compatible, which lowers the barrier for developers migrating from Ethereum and other compatible chains. With a focus on quantum resistance and high performance, the ecosystem aims to attract developers and projects seeking a secure and scalable blockchain environment.

How to mine AME Chain?

AME Chain does not use traditional mining like Proof-of-Work blockchains. Instead, it utilizes a Proof-of-Authority (PoA) consensus mechanism, where a designated number of blockchain actors are given the power to validate transactions and update the registry. This system ensures a higher transaction rate and energy efficiency. For those interested in participating in network validation, the project announced plans to hold an auction for validator nodes to the community following the mainnet launch. This suggests that validator participation is open to community members through a structured process. However, specific details regarding the requirements, rewards, and operational aspects of running a validator node are limited in publicly available resources. Interested parties should refer to official AME Chain channels for the most current information on validator node auctions and staking opportunities.

How to keep your AME Chain Coin safe?

Keeping your AME tokens safe requires adherence to standard cryptocurrency security practices. Since AME Chain is an EVM-compatible blockchain, users can potentially store their AME tokens in wallets that support the network. The project has announced plans to launch a dedicated AME Chain decentralized wallet, which would provide a native solution for secure storage. Until then, or in addition, users should consider using reputable hardware wallets or software wallets that allow custom network configurations for EVM-compatible chains. It is crucial to safeguard your private keys and seed phrases, never sharing them with anyone. Given the project's emphasis on quantum security, users should stay informed about official wallet releases and security updates from the AME Chain team. Always download wallets from official sources and be wary of phishing attempts. For long-term storage, a hardware wallet is generally recommended, as it keeps private keys offline and protected from online threats.