“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.” — Satoshi Nakamoto, Bitcoin Whitepaper
However, with this explosion in the user base, the teams behind the cryptocurrency projects also realized that they could support this sudden surge in the number of users and the innumerable transactions due to bandwidth limitations.
Even the biggest cryptocurrencies such as Bitcoin and Ethereum faced issues related to this. It manifested in numerous ways, such as network congestion, increased transaction fee, and perhaps the most inconvenient of all delayed transactions.
Of course, over the last year and a half, platforms such as Ethereum have found ways to work on this challenge. However, the project ArQmA had this figured during their initial launch itself back in 2018.
But before we jump into that, for those of you who do not know about this cryptocurrency project, ArQmA is a currency coin that is a user-friendly, community-driven, open-source project. People can use its ARQ coin as a payment method for products and services.
So how did a project that only launched in 2018 managed to have more transactions per second than the world’s biggest cryptocurrency — Bitcoin.
“Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.” — Satoshi Nakamoto, Bitcoin Whitepaper
The Self-Adjusting Block Formula.
Every block has a size, and for different cryptocurrencies, the maximum size of 1 block is different. Each of these blocks takes a certain amount of time to be created. In Bitcoin’s case, the maximum size is 1 MB, and to create this block, it would take any miner a minimum of 10 minutes.
Due to this, it becomes difficult to process all of them fast when there are more people because it takes more time. Another factor to note is that not all transactions will require the complete 1 MB for their details. It varies based on numerous factors, such as how many cryptocurrencies you send. If you are sending one large amount that is received as smaller amounts to one address, it will take longer to complete the transaction. There are numerous other factors.
“Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.” — Satoshi Nakamoto, Bitcoin Whitepaper
To solve this, the ArQmA protocol monitors its previous 100 blocks on the blockchain similar to block size auto scaling. Auto scaling is common in cloud computing to prevent resource constraints, and to ensure optimal uptime and speed.
With this, it calculates the average size of the block. Based on this average size, the protocol is such that it automatically reduces or increases the size of every block based on the frequency of transactions and the nature of those transactions.
Due to this, the miners will get a chance to either create fewer or more blocks within a given size based on the previous 100 transactions. As a result, the transaction speed is always on an optimum level no matter how the traffic on the network is.
“Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers.” — Satoshi Nakamoto, Bitcoin Whitepaper
Thus in ArQmA’s case, the network can create 2 to 65000 (approximately) blocks in 4 minutes, which is much more efficient than that of Bitcoin.
This is merely one simple reason why the ArQmA project is user-friendly. It shows how the team behind is proactive when it comes to assessing potential problems and solving them before it becomes an inconvenience for the users.
“Each timestamp includes the previous timestamp in its hash, forming a chain, with each additional timestamp reinforcing the ones before it.” — Satoshi Nakamoto, Bitcoin Whitepaper
ArQmA is a completely new and unique CryptoNote-Lite blockchain!
- PoW algrithm: RandomX; RandomARQ
- Max supply: ~50 million
- Block reward: ~20 smoothly varying
- Block time: 120 seconds
- Difficulty: retargets at every block
- Block confirmation: 18 blocks
- Properly set 1MB Scratchpad to eliminate time-waste hashing by trying to divide into a 2MB Scratchpad like other projects had done
- Asic resistance : Yes
- Nicehash resistance: Yes
- BulletProof RingCT
- LWMA Difficulty Algorithm securing network against 51% HashAttacks
- Ticker: ARQ
- Emission rate planned on 30 years
To join TEAM ARQMA please follow the links provided below. We look forward to welcoming you to our friendly wide ranging community of blockchain crypto coin CryptoMining Staking ARQNodes enthusiasts!
Helpful Arqma Links
Arqma Official Website: .
Arqma CLI wallet Github: https://github.com/arqma/arqma
Arqma GUI wallet Github: https://github.com/arqma/arqma-electron-wallet
Android Wallet: https://play.google.com/store/apps/details?id=com.arqma.Droid
Arqma Community Pages: https://arqma.github.io
Official Block Explorer: https://explorer.arqma.com
Official Twitter: https://twitter.com/ArQmA_Network
Community Twitter: https://twitter.com/CommunityArq
Discord Link: https://discord.gg/s9BQpJT
Medium Link: https://medium.com/@ArQmANetwork
Medium Community Link: https://medium.com/@arqmacommunity
Telegram Link: https://t.me/joinchat/HNpOMRIiNSoCn0zYrAOofw
Reddit Link: https://www.reddit.com/r/arqma
YouTube Channel: https://www.youtube.com/channel/UC24ZbH8J1SKpxmdakIJotoA
Matrix Chat link: #ArQmA:matrix.org
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=4474605.0
Current Mining Pool List: https://miningpoolstats.stream/arqma
Woocommerce plugin: https://github.com/arqma/arqma-payments-woocommerce-gateway
Offline Wallet Generator: https://generate.arqma.com
Arqma Logos and Images: https://github.com/arqma/arqma-logo
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