The ambacoin is said to be the first Ambazonian cryptocurrency created for its economy. The Ambazonian nation is a new nation doing a great innovation and has approximately 8. million citizens living in the country. The country is known for its rich natural resources reserve like gold, diamond, lots of agricultural produce, crude oil, mineral reserves, and many others. With the help of the proceed gotten from their first Ever cryptocurrency, Ambacoin, They intend to use funds derived to assist internally displaced persons (IDP) who might have lost their loved ones in the last terrorist regime which is a great approach in my opinion. Ambacoin wasn’t created for the citizens of Ambazonia alone but for all of Africans at large.
With the huge support from the Ambazonian nation, Ambacoin has received a great importance from the the nation. Realistically, ambacoin is not the first cryptocurrency to be backed by a nation, other countries such as Iran, China, Venezuela, India and some others who banned cryptocurrency exchanges and traders in their countries are gradually accepting the cryptocurrency. Worthy of note is that the Dubai government-backed cryptocurrency is accepted and used by all her citizens which is a great news for the cryptocurrency world and this further push the cryptocurrency to the world.
The following have been highlighted as some of the problems beings faced by different countries
• Money laundering.
• Supporting criminal masterminds.
• Defrauding investors.
• Fear of dramatic decrease in coin value.
• Hacking attempts faed by exchanges.
• No government regulation.
• Fear of inflation.
All these fears and more can be solved and put to an end with the use of the recent innovation, the cryptocurrency.
UNIQUE FEATURES OF AMBACOIN
The Ambacoin is designed and created with some interesting and intriguing features that make the cryptocurrency unique, these include the following:
High speed of transaction: since the Ambacoin is created and designed on the ethereum blockchain affords it the opportunity to utilize the speed offered by ethereum smart contract. With Ambacoin transactions is set to be very fast as less as 10 seconds or less, which is a high speed compared to the speed of transactions in our traditional banking systems.
low cost of transaction: Traditionally, it is known that the banking system in cross border transaction charge a very high fee for their different transactions, but with Ambacoin subscribers and users of the platform are opportune to do their diverse transactions at a very low cost.
**Transparency: one of the advantages of the cryptocurrency is the fact that it is secured and transparent. Ambacoin built on the blockchain technology and the ethereum smart contract, makes it easy for transparency in all forms of transactions and as such There is no room for fraud as every transaction has its record safely stored on the blockchain. This is one feature not found on the traditional banking system.
Highly secured: Ambacoin is built on the blockchain technology which makes its highly secured and safe from cyber attacks and frauds of all sorts. Ambacoin platform has designed security measure and protocol that will protect the coin from all forms of cyber attacks.
Amba is the Ticker for the Ambacoin token. It is the native token of the Ambacoin ecosystem. It is an erc-20 compliant token created on the ethereum blockchain and smart contract, as it executes transactions initiated on the Ethereum network is fast, reliable and secured with little or no transaction fee involved. The Ethereum network on which the Ambacoin is built has got the ability to execute a large amount of transition per second with the speed of light. The Ambacoin is said to possess the same use case as the FIAT (government issued currency) of the nation of Ambazonia.
Worthy of note is the fact the Ambacoin will be used for all forms of transactions carried out on the Ambacoin ecosystem which will further spur the value of the token to the top. To further preserve the value and demand of the Ambacoin, the team behind the Ambacoin project has a put in place a reliable and realistic protocol as all unsold tokens will be burnt to reduce the total supply of the Ambacoin. With this in place, No other token will ever be minted, mined or created. There will be a periodical buyback and burn event by the post-independent Ambazonia treasury that is supported by all political parties of the nation.
Total Supply: 1 Billion AMBA
Price: 1000 AMBA/1Eth
Advisory Board: 10%
Bounty0x Username: Joygalz