What Is Apollo (APL) And How Does It Work? | KuCoin Crypto Gem Observer

2021/09/15 10:00:00

What if every mainstream feature of blockchain technology could be provided through a single platform? Can such an ecosystem really take on and surpass the current offering in the fintech space?

Apollo has set off on this path to take the finance industry to a new level by building an ecosystem that serves all. With that said, what is it doing to solve current issues and enhance the experience of banking and more that isn’t already available?

What is Apollo?

Apollo is a financial technology ecosystem that develops government, commercial and blockchain products. It aims to become a world-leader in the fintech space by focusing its efforts on R&D to ultimately build applications and solutions, with a particular emphasis on blockchain technology.

It has already created a range of products, including the Wallet, DEX, CEX, GSX, and Apollo Agent Network. One of its biggest developments to date is the Knox National Payment Platform which facilitates the decentralized sending and receiving of a national currency on blockchain.

How does Apollo work?

Across its three main audiences, Apollo leverages different technologies to meet the needs of the development. Blockchain in particular is being used to power many developments at all levels. This also includes the use of different protocols.

The Hermes Protocol offers the project superior speed, separation of different parts of the blockchain as well as some additional functionality. Apollo Sharding harnesses this protocol in order to split the blockchain into segments, improving the volume of the database and the download speed.

Olympus Protocol, on the other hand, is utilized for anonymity, security, and other processes for hiding transactions and such. ApolloMixer is one example of this protocol in action, helping to hide details such as the sender, receiver and transaction amount.

Who created Apollo?

The team at Apollo come from a broad range of backgrounds, achieving many major development accomplishments. This includes the distinction of being the first blockchain to develop and implement true database sharding.

Between the decades of combined development experience and influential participation in 12+ Fortune 500 companies they bring to the table, the team is well prepared to tackle their vision and serve successful financial products using blockchain.

What is the APL token and what is it used for?

The APL token is said to be the fastest and one of the most feature-rich cryptocurrencies. It is used extensively throughout Apollo’s catalogue of products. This means APL is used for governmental and commercial use cases on top of consumer uses.

It is used in the National Payment Platform to pay for fees, Apollo DEX as the main currency and means of exchange, and more. As more technologies are being brought into the ecosystem, use cases will expand further such as Apollo smart contract, Decentralized file sharing, and Decentralized applications infrastructure.

Closing Thoughts

What Apollo is doing and has already achieved is grand in scale. It is serving three different audiences - consumer, commercial and government - and building an ecosystem of fintech solutions that provide important services that push forward the technology. The APL token lies at the center of this.

With banking set in its sights, Apollo is looking to reach mass adoption based on privacy, accessibility and freedom. Ultimately, Apollo is a unique project that has taken a different approach, and it certainly seems to be working.

KuCoin Blog Activity for Apollo (APL)

Read and Share!

To learn more about Apollo (APL) and to show KuCoin's gratitude to our dear readers, we invite you to join our "Read and Share Blog Activity" from September 15, 2021 to September 19, 2021 (UTC).

Rewards:

200 lucky readers will be randomly selected to share a $1,500 in APL rewards pool!

1. 100 new readers who sign up on KuCoin using our exclusive link will receive $10 in APL each.

2. 100 active readers who have existing KuCoin accounts will receive $5 in APL each.

Note: The APL/USDT price set for the activity will be 0.0026. Rewards will be distributed before September 26, 2021 (UTC).

Rules:

1. Share this blog article link on Facebook, Twitter, or Reddit and include the following contents:

a. "I am sharing $1,500 in APL on KuCoin Blog: https://www.kucoin.com/blog/en_US/what-is-apl-and-how-does-it-work"

b. Your answer to the question, "Why do you think APL has great potential?"

Example 1: I am sharing $1,500 in APL on KuCoin Blog: https://www.kucoin.com/blog/en_US/what-is-apl-and-how-does-it-work

APL has great potential because it has an amazing project team.

Example 2: I am sharing $1,500 in APL on KuCoin Blog: https://www.kucoin.com/blog/en_US/what-is-apl-and-how-does-it-work