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ALQO 2.0 codebase (Project POLARIS)

By Ronak_Sunara - 2019-02-06

ALQO is persevering to expand its Planetary System (a structured system for revenue and non-revenue generating services and products built around ALQO) and achieve its goal of becoming the best and reliable gateway for cryptocurrency in the whole world. Bitfineon is the biggest planet (project) that ALQO has announced so far in its so-called Planetary System. Bitfineon is an under-development exchange platform made in Switzerland with next-gen features hooked on to it.

Some of the unique and vital Features that Bitfineon will offer are:

  1. Flux

    Bitfineon will make use of SmartTruncate technology to provide true end-user scalability. By using the new Gravitas Consensus mechanism, flux nodes will facilitate quicker block verification by making use of full nodes and therefore make the exchange network far more decentralized, reliable, immune to attacks and buoyant.

  2. Gavel

    Gavel is a unique smart contract protocol which is much more efficient and scalable than the existing ERC-20 as unlike it, this protocol executes and evaluates only on demand and thus places no heavy burden on full nodes.

  3. Low fees and high performance

    Bitfineon intends on keeping the fees as low as possible than its competitor exchanges. It will also make use of geolocated industry-leading servers to enhance user-experience and provide high functionality.

  4. ThumbID Hub

    This feature will make use of Redshift (a quantum-proof key derivation with 256-bit quantum strength security) to protect user data and identity. It will add an extra layer of security, privacy and functionality to the exchange and allow users to create strong seed phrases in case of lose credentials.

About Project Polaris

ALQO’s recent focus has mainly been on development of Bitfineon, business operations maintenance, partnerships and building a new codebase 2.0 named as “Polaris”. ALQO has a complex ecosystem and the Bitcoin Core code on which it has been built is not proving enough. Therefore, the team has decided to introduce a new codebase “Polaris” to its ecosystem which will systematize functionality, increase the development scope within the ALQO ecosystem and add many unique features to Bitfineon.
Polaris will enable special features such as:
  1. Empowerment of ICO and STO platforms being built on Bitfineon by issuing pre-built smart contract to the new projects to help them accept payments and raise funds in a hazzle free manner.
  2. Facilitate a sterling connectivity and in-wallet trading between Bitfineon and Liberio, and settlement of auction payments (by its pre-built escrow smart contract).
  3. Introduce another unique feature called Minimal Viable Chain (MVC) which will enable Liberio to run on resource-limited devices without the requirement of complete copy of chain being available to process transactions.
  4. Gale Protocol: This is the highlight of the Polaris release. ALQO will move from Bitcoin’s codebase to its own codebase thus, eliminating structural redundancies. The on-chain operations will then no longer consist of simple linear input and output but of fungible, cohesive and fluid-like account balance credits.
All these features will be explained in detail in the upcoming release of Polaris lite-paper which is expected to be ready for public release in a few days. Polaris will surely bring many unique features to the ALQO ecosystem and Bitfineon exchange and open doors to many innovative ideas. The BETA UI version of Bitfineon is ready and backend testing has begun. It is expected to launch soon although the team has not provided its community with a timeline yet and plans on completing the Polaris codebase before its launch. ALQO is surely one of the best projects out there with working model, real use cases and innovative features with strong product-line.

For more information on ALQO, check out our review: https://mastersofnodes.com/alqo-review

To know more about ALQO planets, visit https://alqo.app