On August 13, 2020, Aspire Technology announced that it had launched the first digital asset creation platform that uses the proof-of-work mechanism. The goal of the platform is to eliminate security issues such as 51% attacks and double-spending. Aspire also launched an offer in which the first 10,000 people to register on the platform can create a free digital asset with up to 92 billion supply.
About the Newly Launched Mainnet
According to Aspire Technology, the Aspire mainnet is the first of its kind in the crypto world. The company noted that crypto assets had been critical to the growth of blockchain technology. It also noted that they had helped to boost the growth of digital collectibles and new public blockchains during the COVID19 era.
The new platform is made up of Aspire Gas (GASP) and Aspire (ASP), which is only accessible via the airdrop campaign. The first 10,000 users will be given enough Aspire and Aspire Gas (GASP) to allow them to create a digital asset. Each of the digital assets can have up to 92 billion tokens.
The Aspire Gas will be used in the same way that Bitcoin is used on Counterparty, a P2P financial platform, and distributed open-source protocol that runs on top of the Bitcoin network. Counterparty was built as a platform for 30 of the top 100 tokens by market cap in 2014-2015.
The Aspire team improved upon the Counterparty code. Their platform has an automated checkpoint server baked into it to prevent a 51% attack that has caused many blockchain networks to lose their crypto. One of the most recent events was the 51% attack on Ethereum Classic, which is ranked 25 by market cap. The attack led to the loss of around $2 million worth of tokens at the time.
Unlike Ravencoin, Aspire is also immune to miner attacks. In recent developments, Ravencoin hackers exploited a loophole in the mining algorithm and they were able to walk away with around $6 million worth of Ravencoin. Unlike most other blockchain networks, Aspire is designed to be immune to these two common attacks.
A Simple Solution for Creating Customized Digital Assets
Commenting on the issue, Jim Blasko, the CEO, and co-founder of Aspire Technology said that there was still no easy solution for users to create customized crypto assets with ease and placing it on a secure blockchain. He noted that it was despite the crypto sector moving into its second decade.
Blasko said that Aspire solves the issue and combined with the Aspire Gas blockchain, it would deal with the issues of slow throughput and huge fees facing major blockchains. The CEO added that the team believed Aspire would be a leader in the creation of digital assets across the world.
A Short History of Aspire Technology
Aspire Technology was born out of the bCommerce Labs accelerator fund and funding from other seed investors. The firm has grown to be a leader in the development of digital asset creation technologies. It has designed the Aspire Platform which includes the Aspire (ASP) crypto creation platform and the Aspire Gas (GASP) blockchain. The platform effectively deals with the common problems of a 51% attack and mining exploits that plague many PoW blockchains.
Image Source: Aspire Twitter