Achain ACT to Paxos Standard PAX Exchange

Crypto Pair Details: ACT to PAX

Achain ACT

Achain is a public blockchain platform that enables developers of all levels to issue tokens and create smart contracts, decentralized applications, and blockchain systems. Achain is committed to building a global blockchain network for information exchange and value transactions. Unlike Bitcoin or Ethereum, Achain utilizes a modified version of DPoS — RDPoS (Result-delegated Proof of Stake) to establish node consensus. Shortly, DPoS suggests that all coin holders vote for the validator nodes that will produce the next blocks. On the project website, only info about CEO Tony Cui is listed. Cui has a few significant accomplishments, including winning the Future Star award from the Zhongguancun Alliance and being listed in the 30 under 30 on CYZONE, a famous venture capital magazine. On LinkedIn, 51 people are listed as employees at Achain. Most of the team is based in Beijing. Achain also has a few key industry partners. It has even co-organized a “Blockchain Technology Open Course” with Tsinghua University, which is widely recognized as one of the world’s top universities. The roadmap for Achain development is fairly detailed. However, most goals listed are development-oriented rather than marketing or design. Still, it’s important to note that focusing on making the protocol interoperable and building a technology that is more accessible to mainstream adoption could also be considered a marketing-oriented part of this project. There are three major phases with projected completion dates listed. These include Singularity (completed Q1), Galaxy (ongoing), and Cosmos (complete at the end of Q4). One thing to note is that dates for these phases are not consistent between the homepage and the whitepaper. This could be simply due to a scenario in which phase names remain the same while new goals and timeline dates within those phases continue to change. In January 2019, the project will update the website to reflect roadmap goals for the new year. Looking at the current landscape of blockchain projects, Achain certainly offers the possibility of much-needed technical innovations. The ability to easily create an Achain fork, as well as, the protocol’s unique RDPoS consensus algorithm make this a promising project. It will be interesting to see how Achain builds upon its accomplishments, and how the project team continues to develop a long-term strategy for improving the protocol’s technical capabilities and increasing participation in its ecosystem.

Paxos Standard PAX

Paxos Standard (PAX) was created by Paxos, a financial technology company on a mission to modernize finance by mobilizing assets at the speed of the internet. Paxos was the first virtual currency company to receive a charter from the New York State Department of Financial Services. As a chartered limited purpose trust company with fiduciary powers under the Banking Law, Paxos is able to offer regulated services in the crypto-asset and virtual commodities space. The Paxos team comes from a wide variety of backgrounds with a diverse array of experiences ranging from Wall Street to Silicon Valley. It’s led by CEO and co-founder Charles Cascarilla, who has spent his career as a customer, analyst, investor and now creator of financial technology. Paxos describes itself as “the first regulated Trust company with blockchain expertise”, and it is using that expertise to create a modern settlement solution that can eliminate risk and simplify settlements. What many people may not know about Paxos is that it was actually founded in 2012 as Paxos Trust Company, and that for most of its life it ran the cryptocurrency exchange itBit, which is still operates. The creation of Paxos was a pivot from an exchange platform to a company focused on creating a modern settlement platform using blockchain technology. Paxos has become the most widely adopted cryptocurrency in the fastest time frame, with support from over 20 exchanges and OTC desks in the first five weeks of its existence. It’s been picked up and listed by six of the top ten cryptocurrency exchanges, Binance, OKEx, Gate.io, ZB, KuCoin and DigiFinex. These exchanges are offering PAX as an alternative to the controversial Tether. Unlike the controversy surrounding the people who control Tether, there is no such obscurity when it comes to the people behind Paxos. The CEO and co-founder is Charles Cascarilla. He has over 15 years in financial services and has co-founded Cedar Hill asset management back in 2005. He has also worked and Bank of America and Goldman Sachs prior to that. The Paxos Standard (PAX) is the first digital asset to be issued by a financial institution and to be fully secured by the U.S. dollar. While other similar stablecoins have existed, there has been no proof of full U.S. dollar reserves, nor have these earlier assets been issued by a financial institution. The Paxos team has been fairly clear in declaring the different base that PAX is working from.

SOURCE: COINGECKO

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