AMP is a new virtual collateral network that offers its users veritable and instant assurance on value transfer of any sort. The use of this platform provides irreversible fast and secure transactions which could be applied to a series of use cases. The broad objective of the project is to allow the developers to provide assurances that can be verified for any kind of asset transfer. Due to this, the makes use of different kinds of proprietary software for the decentralization of risks involved in the asset transfer process for both digital and real-world applications.
According to the AMP network, it claims to partake in the provision of versatile but simple solutions to the problems associated with collateral verification through a system filled with a collection of collateral managers and collateral petitions.
Under the operations in AMP, the collateral partitions have specific instructions to collateralize certain applications, transactions, or accounts. They can also have designations to carry directly verifiable balances through the Ethereum network. The collateral managers are smart contracts with the capability of releasing, locking, or redirecting collateral based on specific requirements for the support of activities involving the transfer of value.
Who are the Founders of AMP (AMP)?
AMP is in the business of providing services that are in a short supply in the world of cryptocurrency. That has a requirement of a team dedicated to the achievement of all its white paper goals.
Amp was founded by Dave Rogers and Paul Ezekiel. The pair are still in the service of the company with Rogers serving as the president of the company and Ezekiel being the CIO. Rogers is a serial entrepreneur who has led the company into successful operations ever since its establishment.
Before becoming the president of AMP, Rogers had a series of ventures which included being the leader of the carbon market at Front Seat Capital. This is a top-tier investment management company located in Toronto that has over $3 billion worth of assets under its care.
Ezekiel on the other hand is not only a business tycoon with over 20 years of experience in the world of energy and digital investments, he is also a doctor as he holds a degree in medicine and surgery from the University of Western Australia.
What is AMP (AMP) used for?
AMP is an Ethereum based token that has the goal of creating a collateralized network for payments and making them instantly secure.
According to the token’s white paper, a major part of its overall goal is the provision of collateral as a service. The company’s collateralization has been subjected to several tests. It has also been audited and is openly available to be utilized by anyone interested.
The decentralized system, being on the Ethereum network, has operations similar to the executions of the Ethereum network. Thus, it allows for the easy development of applications with the main functionality of locking and unlocking AMP based on demand for the overall security of transfers, allowing lending and easy liquidity of value.
Although there are several other extensive faucets where AMP adds value to the mode of business as we know it, these are some of its major functions. The platform also operates in a way that these financial solutions are also available for real-world application.
What Is the Unique Point of AMP (AMP)?
The AMP network, being an Ethereum based decentralized platform supports a series of use cases that can be applied in the principle of collateralization. The theories of its operation also involve the concept of predefined partition strategies. These strategies have special capabilities which allow for the staking of tokens without them ever being transferred from the original address.
For the AMP system to be able to provide most of its services of agnostic collateral options, the network has to leverage a series of features and protocols. The platform was built with the ability to support a large variety of tokens and assets which cut across several cryptocurrencies including the ERC-20 network. This in turn provides a level of compatibility with several exchanges and wallets with ties to the ERC-20 system.
A major of the AMP system is staking, which is the basis for asset collateralization. Staking, by definition, is the act of locking cryptocurrency into a network smart contract for a specific period. Using the AMP carries a guarantee for any type of value exchange being executed on the network and guarded by its security protocols.
The AMP system has provided a track record of secure collateral-related transactions and currently, the company is expanding its pool of assets to allow inclusions in the form of digital payments, distribution of loans, sales of properties, and fiat currencies among several others.
How many AMP (AMP) are in circulation?
The utility token on the network is known as AMP. As such, to participate in the network and access the variety of features and services provided by the network, the participants must hold the AMP token.
The development team of the token added an anti-inflationary policy to the network to provide advanced levels of security to the platform. This policy provides a fixed value of AMP tokens in circulation allowing the network participants the option of staking AMP and securing additional profits.
The total supply of AMP coins available stands at 92,547,638,199 coins while the amount in circulation is 42,227,702,186 AMP coins. Being built based on the ERC-20 specifications opens the network to features including its ability to trade on verified platforms including Uniswap and SushiSwap.
Is the AMP (AMP) Network secured?
The establishment of AMP as a collateralized platform brought about new security concerns as the primary function of the platform deals with value exchange. The security protocols to be added to the network were a major concern for many parties including the developers and the users. This had led to the development team going to great efforts to ensure the optimal level of security for the platform.
The AMP smart contracts, being an open-source system, have gone through extensive auditing. This allows the community as a whole with all the parties to vet the merits of the security protocol in use.
In general, history has shown in the crypto space that open source projects have an edge over closed source projects because the network participants can verify all the steps of the project to ensure its optimality.
How do I buy AMP (AMP)?
The use of AMP has revamped the operations of cryptocurrency collateralization and this has led to its grown adoption by several people and in turn, its availability on a variety of platforms.
To buy AMP tokens is quite easy. The steps below provide the right direction.
- Open an account with any crypto trading platform that offers AMP.
- Transfer the specific amount of your fiat currency to the trading platform account.
- Wait for your deposit to be confirmed and Buy AMP through the trading platform account.
Which Cryptocurrency Wallet Supports AMP (AMP)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as AMP (AMP) tokens. Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their AMP wallet because offers a simple and interactive interface making it easy for people to navigate its system.