What is Apollo

APOLLO is a proof of stake (PoS) cryptocurrency, constructed from scratch in opensource Java. A total quantity of 10 billion available tokens were distributed in the genesis block. Curve25519 cryptography is used to provide a balance of security and required processing power, along with more commonly-used SHA256 hashing algorithms.
APOLLO transactions are based on a series of core transaction types that do not require any script processing or transaction input/output processing on the part of network nodes. These transaction primitives allow core support for:
  • A fully-decentralized asset exchange
  • Alias creation, transfer and sale
  • Storage of small, optionally-encryptable strings of data on the blockchain
  • A digital goods store
  • Account control features
Basic Payments
Crypto Messaging
Asset Exchange
Device Portabilityo
Blocks are generated every 60 seconds, on average, by accounts that are unlocked on network nodes. Since the full token supply already exists, APOLLO is redistributed through the inclusion of transaction fees which are awarded to an account when it successfully creates a block. This process is known as forging, and is akin to the “mining” concept employed by other cryptocurrencies. Transactions are deemed safe after 10 block confirmations, and APOLLO’s current architecture andblock size cap allows for the processing of up to 367,200 transactions per day.

Basic Payments

The most fundamental feature of any cryptocurrency is the ability to transmit tokens from one account to another. This is APOLLO’s most fundamental transaction type, and it allows for basic payment functionality.

Crypto Messaging

Crypto Messaging strings of data up to 1,000 bytes in length can be stored on the APOLLO blockchain using the Crypto Messaging feature. These messages are intended to be removable, in the future, when blockchain size needs to be reduced; nonetheless, they form a critical building block for a number of next-generation features. At the basic level, the system can be used to transmit human-readable messages between accounts, creating a decentralized chat system.

Asset Exchange

An entire class of APOLLO transactions is used to implement a fully-decentralized and automated asset exchange that operates on the APOLLO blockchain. Using the colored coins concept, APOLLO assets may be issued and tracked on the APOLLO ecosystem, supported by transactions and processing that allow for asset transfer, bid and ask order placement, and automatic order matching.
By combining the features of the APOLLO Asset Exchange with other features such as Crypto Messaging, value-added services can be created.

Device Portability

Due to its cross-platform, Java-based roots, its Proof of Stake hashing and its future ability to reduce the size of the block chain, APOLLO is extremely well suited for use on small, low-power, low-resource devices. Android and iPhone applications are currently in development.
The ability to implement APOLLO on low-powered, always-connected devices such as smartphones allows us to envision a scenario where the majority of the APOLLO network is supported on mobile devices. The low cost and resource consumption of these devices significantly reduce network costs in comparison with traditional Proof of Work cryptocurrencies.