AMP (previously known as Flexa Coin) is an open-source collateral Ethereum-based protocol that provides immediate, verifiable assurances for any transfer. It allows decentralized collateralization of cryptocurrency transactions and improves their speed and security across a vast set of financial use cases, including payments, exchange, lending, remittance, and more.
AMP was launched in September by Flexa in collaboration with the ConsenSys team. Flexa is a merchant payment network designed to enable the universal acceptance of digital assets. It is able to authorize instant and fraud-free transactions at a net cost less than interchange. Meanwhile, ConsenSys is the leading Ethereum software company that enables developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web.
Instead of using complex algorithmic models, AMP relies on the collateral of a high quality that features self-sustaining parameters to create a better utility. AMP offers a simple yet universal interface for verifiable collateral across collateral sections and collateral managers. AMP supports a wide variety of use cases for collateralization. Besides, it introduces the concept of predefined partition strategies, which can enable special capabilities such as collateral models through which tokens can be staked without ever leaving their original address.
AMP is an ERC20-compliant token. Therefore, by paying with Ethereum for gas, you can send and receive AMP tokens using any ERC20-compatible wallet. AMP is available for trading on exchanges like Coinbase,Gate.io, Bittrex, ZB.COM, BitMart, and Bibox.
Flexa’s AMP cryptocurrency registered solid gains post the Coinbase listing last week. Flexa’s instant crypto payments technology is gaining traction and acceptance among several brick-and-mortar as well as online retailers.
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