AIBLOCK — Trade securely on Web3 without requiring smart contracts

5 min readJun 19, 2024

What is AIBLOCK and what does it solve?

AIBlock is a Layer1 blockchain ecosystem that enables new levels of authentication, integrity and trust in Web3 era.AIBlock’s architecture is built on a cutting-edge Layer-1 blockchain that prioritizes energy efficiency, scalability, and inclusivity. It enables rapid, secure transactions and widespread participation in the mining process, making blockchain technology accessible to a broader audience. AIBlock’s commitment to a fair, sustainable, and efficient blockchain ecosystem positions it as a pioneering platform ready to transform the digital landscape.

The AIBlock Digital System addresses the challenges of Web2 and delivers on the promise of a new and better Web3 internet. Finally, users can truly own their content and have complete digital control over their ventures, identity and online footprint.

This is possible, because AIBlock is a full stack (layer 0, layer 1 and layer 2) blockchain that marries the content creativity, financial thinking, applications and security focus of Web2 with the decentralised possibilities, digital privacy, ownership and trade requirements, and composable capabilities of Web3.

Key features of AIBlock include:

Enhanced Consumer Privacy and Trust: AIBlock goes beyond standard GDPRand CCPA regulatory compliance, actively supporting user privacy and the right to be forgotten — a crucial aspect of Web3 privacy standards.
Robust Security Framework: The platform’s peer-to-peer, distributed architecture is designed to be resilient against common security threats like theft, hacking, and unauthorized access. This robust security is essential, especially when integrating with Layer-2 applications, to prevent vulnerabilities.
Utility for Commerce and Data Management: AIBlock focuses on enabling secure and efficient transactions for various clients, including industrial, enterprise, and retail sectors. It supports a wide range of financial activities like payments, withdrawals,and trading. Most importantly, developers can easily create apps using AIBlock’s ledger in any programming language they choose. These apps are controlled and connected to the AIBlock network through APIs.

Token Overview

Token name: AIBlock
Token symbol:AIBCOIN/USDT
Total supply: 5,000,000,000

The AIBCOIN is AIBlock’s native currency. It serves as the medium of exchange within the AIBlock ecosystem, used to pay for different aspects of the protocol, including file storage and encryption, as well as to buy, sell, or trade digital items.

The native currency has a practical use beyond speculation — storage, encryption, and data management services are useful even to parties extraneous to the blockchain.

In other words, because AIBCOIN have practical uses that many people find valuable irrespective of their association with AIBlock, they effectively have a price floor. This usefulness ensures that there’s always demand for AIBCOIN, leading to a very active and liquid market for the token.

Furthermore, this dynamic encourages using AIBCOIN as a currency rather than passive accumulation that does not provide value to the ecosystem. Over time, these incentives to spend AIBCOIN will drastically increase distribution over the standard cryptocurrencies.

What are the strengths of AIBlock?

File Storage and Data Management: Recognizing the value of files and their encapsulated data in digital systems is crucial. These files, known as AIBlock Data Assets (ABDATs), are the backbone of digital value. An AB Data Asset comprises a unique file, field, or record with distinct metadata, making it a vital asset in the digital realm. They are a unique data input that has been tokenized to become tradable.
Intelligent transactions without needing smart contracts: The AIBlock Digital System (ADS) is a cutting-edge approach to peer-to-peer electronic trade and transactions. It incorporates the eXensible Gateway Protocol (XGP) — a system for secure data handling and transfer — with an advanced blockchain network and ledger. This integration of the two systems forms the AIBlock Transaction Protocol (ATP), which plays a foundational role similar to the HyperText Transfer Protocol (HTTP) in internet communication, facilitating the execution and recording of blockchain transactions.
Universal Ledger: AIBlock’s innovative two-way universal ledger system represents a significant advancement in the blockchain domain, addressing a critical limitation often encountered in decentralized finance. Traditional blockchain platforms have predominantly focused on tracking payment tokens, requiring reliance on either trust or third-party intervention for managing the corresponding assets. AIBlock’s approach, however, revolutionizes this process by enabling dual-entry accounting for both the payment and the asset in a transaction.
Valence Nodes — AIBlock’s native L2s: Valence Nodes are a crucial part of AIBlock’s blockchain framework, serving as independent messaging systems. Traditionally, such messaging systems, such as Bitcoin Lightning, exist at layer 2 which introduces its own challenges. Thus, AIBlock introduces a messaging system as part and parcel of its layer 1 architecture. Furthermore, Valence Nodes can be used to build sophisticated custom solutions, including layer 2 support for interchain operations
Customizability allows you to do anything: Valence Nodes are comprised of prebuilt, composable components that can be merged to create entirely new functionality. However, this is not an exclusive design format, new modules can be designed by independent parties. As long as potential Valence Nodes adhere to certain standards in treating connections, processing transactions, and communicating with different components, they can have virtually any system architecture framework and still operate seamlessly within AIBlock.

Conclusion

To summarize AIBlock into a single soundbite: AIBlock acts as the L2 for all digital interactions. It adds a layer of functionality to the internet that did not previously exist or, at most, needed to be bolted on ad hoc, and with great downsides.

Until now, internet users depended on intermediaries to share and manage their data,assets, and identities. Unfortunately, every platform that was afforded this trust betrayed it in some form — be it by looking at the information, selling off the data, or even just being careless and accidentally leaking it to unauthorized parties.

AIBlock reframes the internet social contract by giving control back to the users. This design framework allows individuals to control their own identity, important documents, and any intellectual or physical property they have. They can also decide how to share these with others or monetize them. However, this goes beyond the user at the peer-to-peer level. It can be scaled up to corporations and even governments.

At the corporate level, companies can offload their complicated compliance and know-your-customer obligations to AIBlock. The ADS can become a one-stop customer login that allows them to prove and authenticate their identity. Much as tools like Google Login have made creating accounts for specific websites obsolete, AIBlock could be the solution to any KYC-reliant platform.

Furthermore, via Valence Nodes, corporations can run their own blockchain infrastructure that can interact with other peers and settle transactions on AIBlock. Without the need for external parties, corporations can intermediate, form agreements related to digital assets or real-world assets, and settle them instantly.

AIBlock Official Media

Website

About Coinstore

Accessibility. Security. Equity.

As a leading global platform for cryptocurrency and blockchain technology, Coinstore seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 7 million users worldwide, Coinstore aims to become the preferred cryptocurrency trading platform and digital service provider worldwide.

Coinstore Social Media