Ampleforth (AMPL) news

What is Ampleforth (AMPL)?

Ampleforth is a unique Ethereum-based cryptocurrency that utilizes an algorithmically adjusted circulating supply to provide a stable base money for the new decentralized economy. Unlike other cryptocurrencies, such as Bitcoin, Ampleforth is designed to remain decoupled from other cryptocurrencies' price action and avoids supply inflation to keep its asset value intact.

With Ampleforth, token holders own a fixed fraction of the total AMPL circulating supply, which is adjusted automatically through a daily process called a "rebase." If the protocol detects that the price of AMPL is too high, it increases the circulating supply, whereas the supply is decreased if the price is too low. This ensures that AMPL holders retain the same percentage of the token supply, irrespective of any changes in supply.

The goal of this automatic supply adjustment process is to create incentives that drive the market price of AMPL back to around $1. This innovative technology is set to revolutionize the cryptocurrency industry, and Ampleforth is at the forefront of this journey towards a more decentralized and stable future economy.

Who are the Founders of Ampleforth?

Evan Kuo, the founder of Ampleforth, holds a bachelor's degree in mechatronics, robotics and automation engineering from UC Berkeley. Kuo is known for his love of both art and mathematics, and has experience developing predictive auction products. Prior to his role as CEO at Ampleforth Foundation, Kuo served as CEO of Pythagoras Pizza, a San Francisco-based pizza delivery service. The Ampleforth Foundation team is made up almost entirely of engineers, including co-founder Brandon Iles, who is a former senior software engineer at Uber and Google. As per its LinkedIn page, Ampleforth currently has just over a dozen team members, with the vast majority based in the San Francisco Bay Area.

What Makes Ampleforth Unique?

One of the things that sets Ampleforth apart from other cryptocurrencies is its focus on providing a non-correlated asset that can be used to diversify portfolios, serve as a reserve collateral for decentralized finance (DeFi) applications, and even potentially replace central-bank money that is resistant to shocks. The way that Ampleforth achieves this is through a unique system where the circulating supply expands and contracts in response to consumer demand, without diluting individual stakeholder value. Ampleforth believes that this makes it a perfect candidate to serve as a new type of base money for the digital economy, similar to how gold was used as the base money for many fiat currencies before the Bretton Woods agreement was dissolved. Thanks to its non-inflationary properties, Ampleforth is able to maintain its purchasing power against other assets, making it an attractive hedge and alternative to fiat currencies that are suffering from devaluation.

How Is the Ampleforth Network Secured?

Ampleforth is an ERC-20 token that utilizes the security and reliability of the Ethereum blockchain. To ensure its integrity, a decentralized network of oracles is employed to supply price data that determines whether there should be a positive or negative rebase. Previously, Ampleforth was the sole oracle provider, but it has integrated Chainlink oracles to prevent data centralization. The rebase function now relies on data from multiple aggregators.

Conclusion

As with any investment, it's important for potential users and investors to conduct their research and due diligence before engaging with Ampleforth or any other cryptocurrency. This article aims to provide a general overview of Ampleforth and its unique features without endorsing or promoting the cryptocurrency. It's always recommended that readers conduct thorough research and seek professional advice before making any investment decisions.