Ambrosus is a Proof-of-Authority public Layer One blockchain protocol that has the unique capability to securely store large datasets. Ambrosus is considered to be a low-cost and ultra-secure L1 blockchain scaling solution with high throughput and decentralized storage. Designed for enterprises, optimized for the future of DeFi, NFTs, and IoT.^[6][7]

On the 23rd of June, 2022 Ambrosus Core is announced its final network push to switch to the new Ethereum client OpenEthereum. Nodes are required to install the latest update in order to remain operational.^[8]

Overview

Ambrosus is an end-to-end integrated solution that includes hardware, software, a protocol layer and developer tools. The Ambrosus protocol and the software layer on top of it are built on the Ethereum blockchain as well as other distributed technologies that allow information from IoT devices to be recorded onto a decentralized network.

Ambrosus uses a novel incentive mechanism called the Amber token to provide these functions in a decentralized manner. The Amber token is used to keep information on the Ambrosus network up to date as products move across the supply chain without requiring a centralized actor to maintain resources. This token enables a transparent ecosystem with trustworthy data that can be freely accessed by interested parties.

A key attribute of the Ambrosus network is its comprehensive support for IoT hardware and sensors, which provides the ability to tag and monitor physical objects and transmit data associated with them.^[9][10]

Ambrosus Core

Ambrosus Core is the foundation that is responsible for network maintenance, upgrades, new Decentralized Finance features, core governance and funding ecosystem development. The foundation ensures all tools are provided to best embed the ecosystem into the world of blockchain storage, crypto and DeFi.^[11]

Funding

On February 10, 2022, Ambrosus Ecosystem announced the launch of a substantial developer funding program of $10 million for developers deploying decentralized finance (DeFi) applications and other decentralized solutions on the Ambrosus blockchain. The grant was distributed among:

• Startups: developers and entrepreneurs looking to launch a dApp on AMB-NET.
• Open-source developers: individuals and teams developing open-source products on top of AMB-NET.
• Educators: those who create unique and informative content for new Ambrosus Ecosystem participants.

The grant was raised to aid in embedding Ambrosus at the center of DeFi developments.^[4][5]

Ambrosus Token

The heart of the Ambrosus network is the Amber token, an Ethereum ERC-20 contract-compliant token that underpins all transactions on the Ambrosus network. Amber is the world's first data-bonded token.

It is used to bind continuously updated and verified logistical, environmental and biological data from the supply chain to its corresponding product as it travels between counterparties. It is also used to carry out transfers of value within the ecosystem.

As such, the token performs both the utility and transfer of value functions within the ecosystem of applications built on top of the Ambrosus protocol. Amber tokens remain bonded to a product until a defined expiration date or until the “termination event”, which can be defined by a purchase, delivery or any other event on the supply chain. ^[1]

Ambrosus Protocol

The Ambrosus protocol is built to support high data loads from hardware devices and network participants with substantially higher capacity than standard Ethereum software implementations.

The Ambrosus protocol is constructed from three two components:

Measurements Repository: Built around the Measurements Smart contract, this component manages a distributed dataset for product-specific measurements that are built on top of a programmable blockchain (Ethereum) and distributed file system (IPFS).

Amber token: The data-bonded token architecture intrinsically ties data to AMB transactions on the blockchain, connecting chains together as products move through the supply chain.^[2]

Team

The Ambrosus team members include:

• Rory Gale-Financial Analyst

• Lena Kail-Influencer Marketing Manager

• Dmytro Karachan-Digital Marketing Manager

• Kevin Keyner - Head Community Manager

• Lang Mei - CEO

• Dr. Stefan Meyer - Co-founder and Managing Partner

• Igor Stadnyk - CTO

• Connor McDonald - US Community Manager

• Alina Tustanovska - Delivery manager

• Andrii Moiseienko - Product Manager^[3]