Abelian

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Discover Abelian's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Abelian?

Abelian (ABEL) is a Layer 1 Blockchain system that is quantum-resistant and privacy-preserving. It uses lattice-based post-quantum cryptosystems and supports multiple levels of privacy, from pseudonymity to full privacy, ensuring secure transactions. The network is GPU-friendly and compatible with Ethereum 1.0 mining rigs, and its ecosystem aims to support other Blockchain systems to be quantum-safe.

How is Abelian used?

Abelian (ABEL) is a cryptocurrency token that operates on various platforms, aiming to provide global users with a free, easy, fast, and secure means of payment without the need for intermediaries. It is a privacy-preserving coin, allowing users to send and receive ABELs anonymously and untraceably through the use of lattice-based linkable ring signatures, lattice-based commitment schemes, and lattice-based zero-knowledge proof systems.

How do I store Abelian?

To store Abelian (ABEL) tokens, you have several options:

  1. On-Chain Wallet: If you are highly familiar with operating on-chain Abelian wallets, you can store ABEL separately in a personal encrypted wallet.

  2. Crypto Wallet: Choose a crypto wallet that works well in your area, accepts your payment method, and follows your preferred policies.

  3. Hardware Wallet: The safest way is to store your Abelian in a hardware wallet and lock it up in a safe, ensuring that the hardware wallet is disconnected from the internet.

  1. Abelian CLI Wallet: You can also use the Abelian CLI wallet, which requires configuration and connection to an abec node to synchronize the Abelian blockchain and find all the ABEL coins.

How to buy Abelian?

To buy Abelian (ABEL) tokens, you can follow these steps:

  1. Choose an Exchange: Select a reliable cryptocurrency exchange that supports ABEL trading, such as Bitrue, MEXC, or XT.COM.

  2. Create an Account: Open an account on the chosen exchange by following their registration process, which typically includes verifying your identity (KYC).

  3. Deposit Funds: Deposit funds into your exchange account using various methods such as credit cards, bank transfers, or other cryptocurrencies like USDT.

  1. Navigate to ABEL Market: Find the ABEL market on the exchange and select the desired trading pair (e.g., ABEL/USDT).

  2. Place an Order: Enter the amount of ABEL you want to buy and execute the trade. You can also use peer-to-peer services or spot markets for a more direct purchase.

  3. Store Your Tokens: Once you have purchased ABEL, you can store them in your exchange wallet or transfer them to a personal wallet for safekeeping.

For detailed guides and tutorials, you can refer to the specific exchange's documentation, such as Bitrue's or MEXC's step-by-step guides.

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History of Abelian

Abelian (ABEL) is a cryptocurrency that was conceived by Bob, Eve, Lamda, and Alice (ABEL) and was inspired by Bitcoin's role as digital gold. The project aims to evolve this concept in the face of quantum threats. Abelian is a post-quantum privacy-preserving blockchain network that adopts NIST standardized lattice-based cryptography, ensuring cryptographic security against both conventional and quantum computers.

The Abelian Mainnet uses the native token ABEL, which is mined during the creation of each block. The blockchain is designed to be quantum-resistant, ensuring that it can withstand attacks from both conventional and quantum computers. This is achieved through the use of lattice-based cryptographic algorithms, which are aligned with NIST's standards.

Abelian's focus on privacy is a key aspect of its design. The blockchain implements linkable ring signatures and one-time transaction addresses to enhance anonymity. Additionally, it combines lattice-based schemes and zero-knowledge proofs for robust protection. This allows for different levels of privacy, including basic privacy with pseudonym-based anonymity and full privacy with complete anonymity and untraceability.

The project has been in development for over four years, with a focus on creating a blockchain that is both secure and private. Abelian's vision is to establish a more secure and private blockchain, termed "digital gold 2.0," which can be used for various applications requiring privacy assurance, such as digital assets like NFTs, stablecoins, and DeFi applications.

Historical data for Abelian's price is available, showing its trends and market cap over time. This data can be used for analysis and investment decisions.

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How Abelian works

Abelian (ABEL) is a quantum-resistant blockchain ecosystem that combines two layers to ensure robust security and privacy. The first layer is a GPU-based Proof of Work (PoW) blockchain, which is the native layer and uses the ABEL token. The second layer is EVM-compatible, allowing for the development of smart contracts and decentralized applications (dApps) similar to Ethereum.

Post-Quantum Solution

Abelian leverages lattice-based cryptographic algorithms, aligned with NIST standards, to combat quantum computing threats. This ensures that the blockchain remains secure even in the face of advanced quantum computers, which could potentially break traditional cryptographic systems.

Enhanced Anonymity Tools

Abelian implements linkable ring signatures and one-time transaction addresses to enhance user privacy. This allows for different levels of privacy, including basic privacy with pseudonym-based anonymity and full privacy with hidden transaction amounts and wallet addresses.

Dual-Layered Security

The blockchain combines lattice-based schemes and zero-knowledge proofs to provide robust protection against various types of attacks. This dual-layered approach ensures that both the PoW layer and the EVM-compatible layer are secure and resistant to quantum threats.

Scalability

Abelian's GPU-based PoW mining and the development of an L2 EVM-equivalent smart contract layer support high transaction speeds, with the potential to handle up to 1,000 transactions per second. This makes it suitable for a wide range of applications, including digital assets like NFTs, stablecoins, and DeFi applications.

Wallet Management

Users can create and manage their ABEL wallets using the abewallet tool. This involves generating a wallet seed and mnemonic list, which must be kept secure to prevent unauthorized access to funds. The wallet can be configured to connect to full nodes and interact with the blockchain securely.

Overall, Abelian's unique combination of quantum-resistant cryptography, enhanced anonymity tools, and dual-layered security makes it a robust and private blockchain ecosystem suitable for various applications in the quantum era.

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Abelian's strengths

Abelian (ABEL) is a Layer 1 Blockchain system that offers several strengths:

  1. Quantum Resistance: Abelian's cryptographic systems are designed to defend against attacks from future powerful quantum computers, ensuring the security of transactions and data.

  2. Privacy Preservation: Abelian provides multiple levels of privacy, including full privacy, which protects sender and receiver wallet addresses and transaction amounts, and accountability, which allows for regulatory compliance while maintaining privacy.

  3. Mathematical Security Proofs: Abelian's security and privacy are mathematically proven, making it the world's first provably secure Blockchain system.

  1. Lattice-Based Cryptography: Abelian uses lattice-based post-quantum cryptosystems, such as CRYSTALS-Dilithium and Kyber, which have been chosen by the US National Institute of Standards and Technology (NIST) as national standards.

  2. GPU-Friendly Mining: Abelian's Proof-of-Work (POW) mechanism is compatible with Ethereum 1.0, making it easy for existing Ethereum miners to transition to mining ABEL.

  3. Ecosystem Support: Abelian aims to support other Blockchain systems, including major EVM-equivalent Blockchains, to make them quantum-safe by applying its lattice-based zero-knowledge proof systems.

These strengths position Abelian as a robust and secure cryptocurrency, well-equipped to handle the challenges of the quantum era.

Abelian's risks

Abelian (ABEL), a quantum-resistant blockchain ecosystem, carries various financial risks that investors should be aware of. These risks include:

  1. Volatility: Abelian's price can fluctuate significantly, making it a high-risk investment. Market analysts predict significant price swings, with potential lows and highs in the coming years.

  2. Market Instability: The cryptocurrency market is known for its volatility, and Abelian is no exception. This instability can lead to significant losses if not managed properly.

  3. Default Risk: As a cryptocurrency, Abelian is not backed by any government or institution, making it susceptible to default risks if the project fails or is unable to meet its obligations.

  1. Regulatory Risks: Changes in regulatory frameworks can significantly impact the value of Abelian. Stricter regulations or unfavorable policies could negatively affect the project's growth and adoption.

  2. Liquidity Risks: Abelian's liquidity can be a concern, especially if there is a lack of buyers or sellers in the market. This can lead to difficulties in converting the token into other assets or cash.

  3. Operational Risks: Poor management or flawed financial reasoning within the Abelian project can lead to operational risks, which can negatively impact the token's value.

  1. Credit Risks: As Abelian is a decentralized system, there is a risk that borrowers may default on their debts, affecting the overall stability of the ecosystem.

  2. Quantum Risks: Abelian's quantum-resistant nature is a key feature, but it also means that the project is exposed to risks associated with the development and implementation of quantum computing technologies.

  3. Competition Risks: The cryptocurrency market is highly competitive, and Abelian faces risks from other projects that may offer similar or better features, potentially drawing investors away.

  1. Security Risks: As a blockchain-based project, Abelian is vulnerable to security risks such as hacks, which can result in significant losses for investors.

It is essential for investors to thoroughly understand these financial risks and conduct their own research before investing in Abelian.

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Did Abelian raise funds?

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Abelian’s team

  • Duncan Wong: Co-founder of Abelian, a quantum-safe, privacy-preserving cryptocurrency. He is a former professor at the Chinese University of Hong Kong and the City University of Hong Kong Department of Computer Science, with extensive research and academic contributions in cryptography and information security.
  • Bob, Eve, Lamda, and Alice (ABEL): The founders who conceived Abelian, inspired by Bitcoin's role as digital gold and aiming to evolve this concept in the face of quantum threats.
  • R&D Team: Consists of cryptographers, mathematicians, and crypto engineers, inspired by CRYSTALS-Dilithium, an NIST post-quantum cryptography standard.

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