About advancedinternetblock

Advanced Internet Block Coin Review: Mining Guide, Price & Analysis of Advanced Internet Block Cryptocurrency

Advanced Internet Block is a cryptocurrency based on the Bitcoin protocol. It describes itself as a dual value multi-asset blockchain. The development team seeks to offer users a faster alternative to Bitcoin. Additionally, it provides a robust blockchain for developers to build decentralized applications.

This opens the blockchain to a lot of use cases. Fast transactions mean that it is usable in any market place. Moreover, it provides a decentralized peer to peer payment mechanism. This means that people do not need a centralized institution to process transactions.

This is the whole mission of blockchains. They seek to provide freedom in transactions. The users can finally control every aspect of the transactions. Advanced Internet Block does one better. It provides all this and faster transaction times.

However, for it to succeed, it needs to see adoption from the public. It needs to be in the hands of community members.

How Advanced Internet Block Works

The AIB blockchain makes sure that individual tokens maintain value. It does this by implementing a dual value system. The two token values include the base value and token value. The blockchain stores the base value on the UXTO legge. On the other hand, the token value remains on top of UXTO scripting protocols.

Additionally, tokens generated on this blockchain come with special protocols. These protocols allow the token to build its own ecosystem.

Further, AIB supports speedy transactions. The transaction time on this blockchain is 30 seconds. The network uses the Scrypt encryption algorithm. This means that it is a lightweight blockchain compared to others. Moreover, it means that it does not need heavy computational power to mine the AIB coin. Hence, the network validates transactions very fast.

This technology is not new. It is the same technology in use on the Litecoin blockchain. But, AIB developers state that AIB is five times faster than Litecoin. However, this means that they are in direct competition with Litecoin.

Litecoin is the go-to cryptocurrency for fast transactions. IAB will need to do a lot of work if they want to take this position.

Can Investors Mine AIB Coins?

Yes, it is possible to mine AIB coins. The AIB team believes that the Proof of Work consensus is still the most efficient mining algorithm. So they use it on this blockchain. Here, miners validate transactions on the blockchain. Then miners record the transactions on the distributed ledger. The transactions remain there in an immutable state.

To ensure efficiency, AIB uses the Scrypt mining algorithm. It is a lightweight algorithm compared to the SH-256 algorithm that Bitcoin uses. Hence, AIB uses less computational power to mine.

That said, you need an ASIC miner to mine this coin. Initially, miners could mine Scrypt coins using a home computer. But that is no longer profitable. Hence, you require an ASIC miner to mine the coin. Far better would be to join a mining pool and share the expenses and the rewards.

Further, AIB supports merged mining. This makes it possible to mine with another coin at the same time. In this case, AIB takes advantage of the high hash power of an already established coin.

The Team behind AIB

The team behind AIB operate anonymously. The official community website does not introduce us to any of the team members. It is impossible to tell the kind of experience they have in blockchain technology.

However, the team remains dedicated to the project. They keep the project up to date in terms of protocols and technology. Moreover, they have several channels to reach them. You can contact the team through their Discord or Telegram channel. Additionally, you can email the team on [email protected].

Advanced Internet Block Governance

The governance of AIB is both on-chain and off-chain. This means that it is partially centralized. The project white paper states that token holders own and manage the network. They manage the network by voting on update proposals. Additionally, they participate in management through mining. Here, they maintain the security of the network.

The AIB Foundation is in charge of off-chain governance. The creators of AIB are members of this Foundation. Further, the foundation has several branches that work together to manage the AIB project. Together, they are responsible for the promotion and development of AIB.

AIB believes that this structure places control in the hands of token holders. While this is true, some people may not appreciate this. This is because the system is still partially centralized. The AIB Foundation controls critical parts of the code.

Privacy and Security

Transactions on the AIB blockchain are completely transparent. The public can access transaction records freely on the distributed ledger. However, users can rest assured this is safe. These records are immutable. This means that no one can change the records. Once recorded, they are final.

The AIB blockchain has excellent security features. The distributed nodes keep the network secure. They maintain a consensus throughout the network. This means they can detect any changes very fast. They work together to keep out any hackers. Additionally, they help damaged nodes to recover from a successful attack.

Further, AIB supports merged mining. This gives it another layer of security. This is because it takes advantage of the hash power of an already established coin. On top of that, it has hashing functions, cryptography and encryption to keep the network secure.

Our Take on Advanced Internet Block 

AIB has a lot of potential in the market. It has a low market cap, but that just means that it has room for improvement. With fast transactions, it has the ability to offer an altcoin in the market. This is a good thing as it further decentralizes transactions.

However, this coin faces a lot of competition from better-established coins. The go-to cryptocurrency for fast transactions is Litecoin. This is a coin that is always in the top 10 in market cap rankings.  A lot of people will opt for such a coin.

Advantages

• AIB offers fast and secure transactions.
• Advanced Internet Block coin is easy to mine.
• AIB is very robust.

Disadvantages

• AIB faces a lot of competition from better-established coins.

How to Buy AIB Coins

The easiest way to obtain a cryptocurrency is to buy it. So if this coin is for you, you are in luck. Several exchanges support the trade of AIB coins. Such exchanges include STEX, Poloniex, JustSwap and Txbit. The price of one AIB coin stands at $0.022944 at the time of writing this.

AIB has a market cap of $555,545,679. This ranks it at 206th in market cap share. This shows the potential for growth. Hence, you can store your coins to sell at a later date. You can use the proprietary AIB wallet to store your coins safely.

Final Verdict

It is impossible to tell the direction that this coin will take in the market. We can see it going either way. Currency, it shows a 55.58% drop in value. But cryptocurrency prices fluctuate all the time. So it could go back up.

On the other, it faces a lot of competition from better-established coins. This includes Litecoin. A coin that proves time and time again to be a reliable altcoin to Bitcoin. As it stands, AIB as an investment is still a gamble.