Asia Broadband Proprietary Cryptocurrency Exchange Development Milestones Achieved and Timeline to Completion
LAS VEGAS, May 11, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce that the Company has achieved
numerous development milestones in the initial month of building its proprietary cryptocurrency exchange (the “Exchange”). Subsequent to the recent launch of the Company’s AABBG gold-backed token,
created with developer Core State Holdings, Corp. (CSHC), AABB’s own proprietary cryptocurrency Exchange version of AABB Wallet has been under development. The Exchange will allow AABB Wallet users
to complete quick two-way exchanges of their AABB Gold tokens for major cryptocurrencies such as Bitcoin, Ethereum and Litecoin. The proprietary Exchange will also add tremendously to transaction
fee revenues and allow for the price appreciation of AABBG, influenced by market demand and the limited supply of tokens released into circulation.
One of the worlds leading gold producers recently commented about its precious metals sector and endorsed the importance of cryptocurrencies that are an exchangeable method of payment for purchases worldwide. The unique and pioneering mine-to-token qualities of the AABBG token have laid the foundation to become a worldwide standard of exchange that is secured and trusted with gold backing.
After the first month of development, the Exchange completion timeline is on the planned path for testing in mid-August with the live Exchange launch expected in early September. The major development components planned for completion in the coming months are the cold wallet, web-versions of the wallet and Exchange, transaction fee mechanism, trade platform and reporting system.
The first month of the Exchange development centered around preparing the network, platform, design and algorithms. Some of the development highlights were as follows. The improvement and optimization of the network foundation was completed, adding additional visitor capacity. The blockchain network was upgraded to allow rapid two-way transfers from the blockchain to the wallet and also allow the efficient addition of other currencies to the Exchange. The design for the iOS, Android, and Web-version of the Exchange was completed. Updated versions of the iOS and Android applications were submitted for approval with new functionality and to increase the speed of mobile applications and add information capacity to the Exchange. The KYC protocols began the streamlining process for the Exchange to allow easier user completion and system acceptance.