Apollo Currency Review: The All-in-One Cryptocurrency

Image for post
Image for post

Ever since the invention of Bitcoin and blockchain technology, there have been several altcoins emerging every so often. With several blockchain projects always developing, projects must present a unique property or trait to get ahead of the competition.

Privacy issues on blockchain technology have been an issue among many crypto enthusiasts. Although one of the things that the blockchain technology promised during its onset years was anonymity, there have been several cases of privacy breaches.

It is, therefore, no surprise that more crypto projects promising ultimate privacy for transactions on the blockchain are coming up. Apollo currency is one such project that promises a considerable impact on the privacy of decentralized currencies.

What is Apollo?

Apollo is a blockchain startup that is looking to provide an all-in-one cryptocurrency to help solve most of the problems with the current digital coins. The project was established in 2017, and unlike other currencies, Apollo did not hold an ICO. Instead, the project already had a working product during its Coin Distribution Event (CDE).

Apolo is built on the Hermes Blockchain and was established through an airdrop of NXT holders, which makes it a fork or clone of NXT. The project comes with some of the most impressive features of cryptocurrencies, including 100% private transactions, an asset system, encrypted messaging, currency and token system, voting system, decentralized data system, and exchange, among others.

One of the problems that Apollo tries to solve is the fact that crypto users often have to use different digital currencies for various applications. Say, for example, a user wants to generate a smart contract and a private transaction, they cannot use the same cryptocurrency for both actions.

Also, individual governments issue regulatory laws against cryptocurrencies, which means that they can leverage them at any time. Because of this, the decentralized nature of cryptocurrencies is always under threat. Another issue with the current cryptocurrencies that offer privacy is that they do so in a limited capacity. No crypto offers IP masking, which means that hackers can track the IP addresses of users on the blockchain from their transactions.

Apollo aims to be the first all-in-one cryptocurrency that utilizes all the useful features available for digital currencies on a single platform.

The Apollo Solution

Apollo aims to offer a solution to all the problems stated above through its Olympus Protocol and Hermes Blockchain. Let’s have an in-depth look at the two below.

The protocol will be behind the entire working mechanism of the project. Through this protocol, users will get to enjoy the ultimate privacy features of the coin. The key features of the Olympus protocol are IP masking, private and public transactions, coin shuffling, as well as an integrated decentralized exchange.

Apollo sets out to offer substantial IP protections to ensure that a user’s IP address cannot be accessed, thus protecting their physical address. The project developers will integrate three layers of IP masking to the Apollo wallet to offer seamless and untraceable use.

The ability to choose between private and public transactions also sets apart Apollo from other cryptocurrencies. Private transactions allow users the ability to send and receive unlimited cryptos without worrying about their privacy. Public transactions, on the other hand, help with the mass adoption of Apollo.

Coin shuffling will ensure that Apollo and other currencies in users’ accounts are randomly shuffled as an additional privacy measure. Account-holders, therefore, get to anonymize their funds almost instantly. Finally, the integrated decentralized exchange lets anyone buy, sell, and trade cryptos with absolute secrecy. IP masking on the exchange will also allow users to send private transactions directly from the exchange.

The Hermes blockchain is the force behind Apollo, and its integration with the Olympus protocol will ensure that Apollo is incredibly secure. The sustainable blockchain provides indefinite stability to the currency and lightning-fast transactions. The blockchain will facilitate transactions for 2–3 seconds, making Apollo one of the fastest cryptos on earth.

Apollo’s Current Features

Apollo Currency

We’ve already mentioned that the Apollo currency is an all-in-one cryptocurrency, and the developers aim to have it tailored for use in any industry. Thanks to all the useful features of the coin, the Apollo currency will provide endless possibilities in the crypto space.

The coin’s ticker symbol is APL, and there are currently 15,439, 920,078 APL tokens in supply out of the total 21,165,096,531 APL tokens. APL uses a Proof of Stake consensus and is available at 0% inflation.

The Apollo token made its debut into the crypto space through a CDE. The goal of the CDE was to distribute the token to as many people as possible. During the creation of the token, NXT holders had access to 10% of the tokens. Holders can, therefore, claim their coins by logging into the Apollo wallet using their NXT credentials. Currently, APL tokens are available on significant crypto exchanges across the world.

Author’s Note

While there have been many inventions in the crypto space over the last few years, the Apollo project promises to be quite revolutionary. The project brings together all your favorite features from the mainstream cryptos to create a currency that could have endless opportunities in the digital and real-world industries. We can only wait and see what Apollo has in store as it ventures into core refactoring and Apollo mobile, as well as developing Apollo Africa in 2020 as per its roadmap.

Originally published at https://cryptoadventure.org on May 1, 2020.

Written by

Crypto Adventure gives you the best of the crypto space in one place. Get constant crypto news, guides & reviews. https://cryptoadventure.org

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store