What is AllianceBlock (ALBT)?

The AllianceBlock Ecosystem is designed as a multi-faceted platform that enables its members to issue, transfer and own tokenized and digitized assets. An ‘open’ ecosystem allows any entity to create assets and applications without needing approvals from centralized “trust” authorities. It uses human and machine intelligence to harness the ‘wisdom’ of groups in decision-making and governance.

AllianceBlock is creating an ecosystem of stakeholders across the full spectrum of traditional and decentralized finance with a vision to create a fully decentralized and globally compliant capital market. Industry stakeholders and service providers can become a ‘node’ in the AllianceBlock Ecosystem and propose their services while compliant with multi-jurisdictional regulations and seamlessly plugging into legacy TradFi systems.

AllianceBlock is creating a harmonious integration with existing legal and regulatory structures. The AllianceBlock Protocol ensures complete regulatory oversight, legal recourse via relevant authorities, and dynamic revision of smart contract logic to comply with an evolving regulatory landscape constantly.

The Protocol 

The Prometheus Protocol is a comprehensive and layered architecture to facilitate cross-border transactions in capital markets in a completely regulated and compliant manner. It provides the framework to digitize all forms of assets in seamless compliance with the regulations in effect. The Prometheus Protocol is comprised of the following three layers:  

  • Data Governance Layer – To ensure that in-architecture data management complies with privacy laws and data quality does not deteriorate over time or distance.  
  • Cross Border Regulatory Compliance Layer (CBRCL) – To ensure automated validation of transactions and their compliance with applicable regulations. Trusted Legal Entities add/amend transaction governing logic after consensus to ensure consonance with regulation.  
  • Securities Issuance and Lifecycle Management Layer – To enable an end-to-end regulated issuance and management of the lifecycle of the issued digitized security.

The Prometheus Protocol leverages the best of the ‘code is law’ and ‘Law is by the People’ philosophies. It provides templatized smart contract-driven logic to automate transaction validation and to ensure their adherence to regulation. It also provides for the upgradeability of this logic to stay aligned to their real-world regulatory counterparts that are amended by legislatures from time to time.  

AllianceBlock was founded in 2018 to build seamless gateways between traditional and decentralized finance. To achieve this, it aims to create an end-to-end infrastructure of solutions that accelerates blockchain builders and provides interoperable building blocks for traditional industries using blockchain technology.

The AllianceBlock native token, ALBT, is the heart of this ecosystem, powering the platforms and use cases built on AllianceBlock technology. Thinking the best for the community and AllianceBlock led to the decision to create a new token to replace the legacy ALBT token, taking on its utility but also ensuring that we are taking the opportunity to set the foundation for the next era of AllianceBlock.

The vision for the Prometheus Protocol has since been expanded with solutions such as DeFi Terminal for frictionless liquidity mining and staking, Bridge for cross-chain interoperability, DEX for liquidity provisioning with impermanent loss mitigation, TIDV for trustless data sharing, and Data Tunnel for data monetization. Fundrs, launched last year, is the culmination of the initial vision in the Prometheus Protocol and has since featured cross-solution integrations with TIDV and DeFi Terminal.

To further integrate solutions and build new use cases and platforms, the Nexera Protocol acts as the connective tissue across the AllianceBlock technology stack, bringing us closer to our mission of building seamless gateways between DeFi and TradFi, was developed. The Nexera Protocol is powered by MetaNFTs, which makes it much easier to develop interoperable use cases across our solutions. More importantly, it unlocks the potential for builders and partners to bring the best aspects of DeFi and TradFi together and create new and innovative platforms and use cases.

With the Nexera Protocol hailing the arrival of the next era for AllianceBlock, the new AllianceBlock Nexera Token (NXRA) launches the next era for ALBT. The ALBT token, which powered our suite of solutions and was destined to power the Nexera Protocol, will now be replaced by the NXRA token, propelling us toward the next era.

The AllianceBlock (ALBT) token will fully replace the AllianceBlock Nexera Token (NXRA). The legacy (original) ALBT token is fully deprecated and has no more utility, with NXRA completely taking over its utility and properties. With the audit of the NXRA token completed by Omniscia as of February 13, the team is now finalizing the details and mechanism for distributing the new token. Following the recommendation by the auditors, they are adopting a claiming mechanism based on Merkle tree proofs to minimize gas fee costs.

 

Who are the founders of AllianceBlock (ALBT)?

The founders of AllianceBlock are Rachid Ajaja (who is the Chief Executive Officer (CEO)), Matthijs de Vries (Chief Technology Officer (CTO)), I.N. A. Ghaddar, Ph.D. (Chief Investment Officer (CIO).

 

What is AllianceBlock (ALBT) used for?

Staking 

Stakers with legacy ALBT staked will get 100% (1:1) of their legacy ALBT tokens (including rewards for stakers) in NXRA tokens. Stakers with unclaimed ALBT balances in expired campaigns will get a 1:1 equivalent of their unclaimed balances plus rewards in NXRA tokens. 

NFTs

The Nexera Protocol is a groundbreaking solution for creating mutable and composable NFTs called MetaNFTs, which are more flexible, scalable and extensible. MetaNFTs are third-generation NFTs that can have both mutable data and metadata.

 

How is AllianceBlock (ALBT) unique?

Mutable data and metadata significantly extend their capabilities and allow them to evolve dynamically with new properties and restrictions. This makes MetaNFTs on-chain mutable storage entities that can interact with both on-chain and off-chain data. With broad support for existing and emerging NFT standards, MetaNFTs overcome existing limitations of current standards and allow developers to adapt and integrate future ones quickly.

This versatility allows NFTs to be used in a far wider range of applications: from art pieces that evolve with new properties over time to games where players can influence the game world to digital collectibles that can grow and change as they are cared for. Moreover, this can extend to financial solutions where MetaNFTs can represent asset-backed loans, investment opportunities, accounts, etc., with properties that can be changed depending on on-chain and off-chain information. A single MetaNFT can represent these use cases simultaneously and adapt to future use cases.

Simply put, the Prometheus Protocol is a highly flexible architecture composed of interconnected layers that connect stakeholders, regulators, and technology to foster omnichannel transparent communication and compliance in a structured and cost-effective manner. This makes the Prometheus Protocol an end-to-end regulatory compliance framework that connects decentralization and regulation on an equal footing with equal weightage to both sides while addressing the concerns of both sides.  

The Prometheus Protocol serves as the communications bridge between the stakeholders and all the Capital Markets’ value-chain actors. This makes the KYC/AML verification process highly cost-effective and extremely fast for financial institutions.  

 

How many AllianceBlock (ALBT) coins are in circulation?

The total supply of NXRA tokens is 850,000,000 coins.

 

How is the AllianceBlock network secured?

With the Prometheus Protocol, AllianceBlock can perform KYC/AML/KYB21/DD22 and such verifications faster and at a fraction of the existing cost (ZKP23 can be used to perform such verifications instantly while preserving the privacy of Financial Institutions’ clients). It incorporates an open architecture for improved data governance and transparency between issuers and subscribers and enables end-to-end cross-border compliance with regulatory authorities and a truly compliant-yet-customizable securities’ issuance and trading in the secondary markets subject to cross-border regulation.

A consortium of validators (approved by the regulators and other stakeholders such as the institutions themselves) perform verification individually. Only when they arrive at a consensus will the verified data be committed to the Data Registry. This also serves as the facilitator of smoother cross-border regulatory harmonious action.

 

How do I buy AllianceBlock (ALBT)?

The ALBT token can be used for a wide range of purposes, like staking and governance.

ALBT tokens can be easily purchased by following the following steps. 

Open an account with the crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and buy ALBT through your trading account by swapping with BTC, ETH, or USDT pairs.

 

Which Cryptocurrency Wallet Supports AllianceBlock (ALBT)?

The PTPWallet platform supports many cryptocurrencies, with ALBT  soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.

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