A project that is used as integrating financial service with smart contracts using blockchain technology for effective managing of cryptocurrency assets is known as the ABLE project. The ABLE accounts can be used for investment, micro-payments, and financing. All the services are available easily on a single platform. In contrast to the current lending bank services, the ABLE project services are entirely different. The difference lies in lending rate and deposition interest rate.
About the project:
For example, current banks on deposits pay only ½ of interest and charge 4% on loans. This huge difference makes profits for banks. However, the ABLE project aims to perk up lending systems for both lenders and borrowers so that they receive better deals thus eliminating the middleman. The project makes use of matching engine not only for peer-to-peer connections but also brings both investor and borrower together. All the deposit-lending spreading’s get eliminated and the parties get benefited from deals. The loans get utilized on blockchain mechanism, using the smart contracts.
For the development of the project with regards to smart contracts, a decentralized exchange is being planned. This will not only form an environment for the developers but also offer numerous financial products. Users can form investment products along with other services through the selection of smart contract templates. The users can achieve it without much coding knowledge and the entire product range is available to the customers at the ABLE account.
The developed ABLE ecosystem includes three stages which are as follows-
The first stage- the first stage includes the development of ABLE account and with smart contracts lend- matching services that make use of EthereumBlockchain are established.
The second stage- in the second stage decentralized exchanges gets developed
The third stage- users will be able to create dedicated blockchain for monetary services.
ABLE architecture-
Users can access third-party services such as investments, wealth management, loans and micropayments with the use of the ABLE account. This strategy allows users to engage in activities related to finance and expand services in accessible ways. The project aims to offer users with services that can be integrated around accounts.
ABLE account-
The service of project works on smart contracts and ABLE accounts. Users can have more than one ABLE account as per their need or purpose. The user data includes subscription loan, list of accounts, user information, creditworthiness and payment history. The account encompasses loan account, finance/fund account, deposit account, collateral account, credit score and free account. Every account includes account holder information, account number, e-mail address link to the account, balance, deposit coin, and password. The user can withdraw and transfer money using the ABLE Account and utilize numerous products based on smart contracts.
About ABLE coins-
The coins designed to preserve the ABLE system and especially used by vendors is known as ABLE coins. The ABLE coin as the Gas fee can be used when product contract gets registered using the ABLE framework. The coins should be purchased from vendors and users and this will maintain the ABLE system which is prevented from dumps. Moreover, users can exchange the cryptocurrencies using the ABLE DEX or coins. At last, users can use it to pay products or ABLE vendor offered services.
Make use of the ABLE project and transfer money or make investment easily.
Official links for more details,
Website Url : https://www.able-project.io
ANN Thread Url : https://bitcointalk.org/index.php?topic=3159298.msg32659058#msg32659058
Whitepaper Url : https://www.able-project.io/data/AB_whitePaper_Eng_180502.pdf
Facebook Url : https://www.facebook.com/ablecoinproject
Telegram Url : https://t.me/ABLE_Project_EN
Twitter Url : https://www.facebook.com/ablecoinproject
Amelia Paisley 