INTRODUCING YOU TO STABILA NETWORK

ginasaudy (44)in #stabila • 3 years ago (edited)

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Blockchain technology and cryptocurrency is one super way to change the definition of money. That is, a peer to peer version of electronic cash wherein online payments can be sent directly from one party to another without going through a financial institution.

The #Stabila is a perfect example of cryptocurrency.

STABILA represents an idea that is simply designed to ensure a decentralized financial system.

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#Stabila Protocol offers a public block chain service with a high rate of dependability and flexibility. All the Decentralized Apps (DApps) within the Stabila space are designed for anti-fraud and reduce any possible risk for holders.

FEATURES OF THE STABILA NETWORK
STABILA has features and traits that incorporates all transactions on the blockchain network.

The features include:
TERMINOLOGY

Wallet - The #Stabila space has a key pair which comprises a public key and a private key that produces wallet or address, as well as the housing details of an account.

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Essentially, the public key functions has a session key encryption, validation of identity, and encodes the data that can be assessed using a private key.

API - Application Programming Interface (API) is essentially used to develop user clients. Also, with the support of the Application Programming Interface, systems which distributes Tokens can be created by developers.

ABI - Application Binary Interface serves as a connection between two binary program components; one of which works as an operating system while the other, a user-experience program.
Asset - Asset is also referred to as token within the STABILA space, and can also be called SRC-10 token.

STB - STB means STABILA, which stands as the official cryptocurrency for Stabila.

Bandwidth Points (BP) - Transactions within the STABILA space require Bandwidth Points as a source of energy to ensure the network is running successfully. In this case, each account gets 500 free BP everyday as BP is being accumulated to accommodate STB for BP.
SRC-10 tokens and STB transfers are regarded as standard transactions that works with Bandwidth Points. They are used in the deployment of smart contract as well as in executing transactions.

Unit - means the smallest unit of STB. 1 STB = one million unit.

ARCHITECTURE
STABILA is divided by a 3-layer architecture which permits lots of languages by default. It has a lightweight virtual machine and a Decentralized Exchange feature which encourages multiple trading pairings between tokens.

Consensus
Most new networks reflects a Proof of Stake consensus technique. With this, token holdings are encrypted in order to become block validators. With this again, holders of the network’s large currency wield so much power on the network’s ecosystem.

Account
The #STABILA space shelters three types of accounts and an easy way to generate address. The private key plays a critical role in creating an offline key pair.

Smart Contracts
Due to the ineffective and inconsistent nature of smart contracts, accreditation is being issued before a user can adopt one. In a case wherein the smart contract holder fails to obey stated rules, a third part will take charge to ensure that holders on the #STABILA space are secured.

Transaction
In registering a transaction, #Stabila utilizes a particular ECDSA cryptographic pattern alongside SECP256K1 to register its transaction. The registration process includes both the public and private keys during a transaction. When a transaction is initiated, the unprocessed data first changes into a byte format and then the transaction is updated when the private key and contract address are inputted.

Fee
Transactions on the Stabila space are usually free even though the use of bandwidth and transactions attract some costs due to limitations in system operations.
On the #STABILA network, a transaction is confirmed in less than sixty seconds.

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