Project update:

ABEYCHAIN 2.0 was launched in April 2021. After more than a year of development, total number of addresses on the chain has exceeded 160,000, and the total number of on-chain transactions has exceeded 29 million.  Moreover, the number of average daily transactions has exceeded 150,000/day. Daily active addresses are more than 20,000. Current on-chain TVL (total value locked) is above $10 million USD. 

Upcoming changes:

ABEYCHAIN is on the cusp of a major transformation that will prove to be a major positive upgrade for the leading smart contract platform. ABEYCHAIN is phasing out the energy-intensive portion of its validation mechanism known as proof-of-work (PoW), to a much more energy-efficient process known as “staking,” or more specifically, Delegated Proof-of-Stake (DPoS). This will introduce a more secure, scalable and eco-friendly platform.

In order to shift to DPoS consensus, a hard fork is set to launch at snail block number 73,500. The expected launch date is Sep. 1^st, 2022.

With this monumental event taking place soon, it is important to recognize the key reasons of this transition:

1. DPoS is much more environmentally friendly.

As DPoS blockchains rely on collateral to achieve consensus, rather than computing power like PoW does, their energy consumption is massively reduced. The ABEY Foundation estimates that a purely DPoS ABEYCHAIN blockchain could use approximately 90% less energy than the PoW + DPoS system it’s currently built on.

This is good news for current & future investors in ABEY (including institutions with strong ESG mandates) that have reservations about being associated with an asset class that has become synonymous with excessive energy usage. Once it is demonstrated that the ABEYCHAIN operates on a significantly lower energy consumption after the transition to DPoS, there is a possibility that inflows of capital from professional and institutional investors would not be far off.

2. The move to DPoS also sets the stage for “sharding”to vastly improve throughput.

This innovation promises to significantly improve the ability of the ABEYCHAIN network to scale.

Sharding allows the ABEY blockchain to be broken up into smaller pieces called “shards.” These shards act as semi-autonomous fragments of the main blockchain and can process transactions on their own. With sharding, ABEYCHAIN’s TPS (transactions per second) is estimated to increase to 100,000.

Changes to ABEY’s tokenomics and mining process:

As a result of this upgrade, the total ABEY token supply will decrease from the current supply of 3,000,000,000 down to 1,419,297,400.

项目更新：

ABEYCHAIN 2.0 主网于 2021 年 4 月正式上线，经过一年多的持续发展，区块链上的地址总数已超过 16 万个，链上交易总数已超过 2900 万笔。此外，日均交易量已超过15万笔。每日活跃地址超过两万个。当前链上 TVL（总锁定价值）超过 1000 万美元。

即将到来的升级：

ABEYCHAIN 正处于重大转型升级的关键时刻。 ABEYCHAIN 正在逐步淘汰其验证机制中的高能耗部分，即工作量证明（PoW）的部分，转而全部采用更加环保节能的验证流程，即“权益证明”，或者更具体来讲 – “委托权益证明（DPoS）”。这将使ABEYCHAIN成为一个更安全，高效，可扩展以及更环保的平台。

ABEYCHAIN将在73,500 号蜗牛区块处启动硬分叉，从而转向100% DPoS 共识。硬分叉预计发布日期为 2022 年 9 月 1 日。

具体来讲，转向100% DPoS共识能够使ABEYCHAIN获得如下升级：

1. DPoS 共识更加环保

由于 DPoS 区块链依靠权益证明（即质押）来完成共识机制，而不是像 PoW 能源密集型的方式，因此ABEYCHAIN的能源消耗将相对升级前大大降低。 ABEY 基金会估计，与目前的的 PoW + DPoS 混合共识相比，纯粹的 DPoS ABEYCHAIN 区块链可以减少大约 90% 的能源消耗。

另外，这对于具有高 ESG （环境、社会、治理）要求的大型机构来说是个好消息，这些机构已经对多种过度耗费能源的资产类别持保留态度。当ABEYCHAIN 转向 DPoS 的升级被证明能够大幅降低能耗以及提高处理效率后，ABEYCHAIN预计会在不久后吸引大量的投资者进入。

2. 向 DPoS 的迁移也为“分片”（sharding）技术奠定了基础，以更大地提高交易吞吐量

这项创新有望显著提高 ABEYCHAIN 网络的延展能力。

分片技术允许 ABEY 区块链的内部能够被解构成更小的部分，称为“分片”（shards）。这些分片是主区块链的半自治部分，它们可以自行处理更多交易（并行处理）。通过引入分片技术，ABEYCHAIN 的 TPS（每秒交易数量）预计会增加到100,000。

ABEY 代币经济以及挖矿过程的变化

由于此次升级，

ABEY 代币的总供应量将从目前的 3,000,000,000 减少到 1,419,297,400。