The Amoveo main net was launched at 11:00 AM GMT on March 2, 2018. There was no ICO or premining prior to that date. There are no master nodes in the network. Decisions about network development are made collectively by all participants.
Its initial creator — Zack Hess is a famous crypto-developer who worked on the Aeternity (AE) and Augur (REP) projects. He was the co-creator of Augur, but left the project due to differences in views with his colleagues: I was working with the Augur team before it was called Augur. I wrote their first minimum viable product in Python. I taught them Paul Sztorc’s design.
Based on his experience with these projects, Zack started developing Amoveo in order to overcome their drawbacks. That said, the project is no longer limited to a single developer. At this point, there are dozens of contributors on GitHub.
In the words of Zack Hess, Amoveo is a result of lessons learned from prior coins. Zack, better than others, knows their weaknesses and is trying to address them. His key idea is to get detailed requirements from the initial users, adapt the project accordingly and then advertise it to new users.
Amoveo uses a modified SHA256 algorithm for mining. The coin can be mined using GPUs, not Bitcoin ASICs. There is no maximum limit amount for VEO coins. Find out how to mine Amoveo cost-effectively in Mining Amoveo.
Here are some specific improvements in Amoveo as compared to Augur.
First, Amoveo does not use sub-currencies, exclusively relying on VEO. In contrast, Augur contracts are done in Ether (ETH), while its own token (REP) is only used to pay for oracles. Amoveo does not depend on other networks and utilizes a single token for everything — including funding oracles. The oracles are an integral part of the network and, therefore, they are cheap.
Second, Amoveo has its own Bitcoin-like Lightning channel — making transactions virtually instant and with low commissions.
Third, Amoveo uses combined markets with an arbitrary number of oracles.
As a result, Amoveo has, perhaps, the most convenient smart contract among the existing blockchain networks.
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