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FTX Investor Temasek Denies Reports About a $10 Million Investment in New Scalable Algorithmic Currency – Here’s How It Works

Last updated: | 1 min read
Source: Pixabay

Update: This article was updated to reflect a statement by Temasek that denied the investment in Array.

Temasek, a Singapore government-owned firm, has denied recent reports about a $10 million investment into Array, a new scalable algorithmic currency that utilizes artificial intelligence and smart contracts.

The Functionalities Of The New Scalable Array Algorithmic Currency

The new algorithmic currency is designed to offer increased scalability, efficiency, and stability than other crypto assets like Bitcoin

The currency system includes several use cases, such as remittances, payments, and investments.

The smart contract platform, also known as ArrayFi, will enable the development of decentralized applications (DApps) through smart contracts. 

The Array’s native token is ARA and will be issued and traded following a bonding curve smart contract. 

Array’s bonding curves function entirely differently from the ones that depend on centralized controllers. Instead, the self-invented AI algorithm, ArrayGo, drives the bonding curves in the system. 

ArrayGo will first observe, learn and then predict market actions. 

Finally, it will adjust the bonding curve properly to ensure stability and eliminate risks. 

The functionality of ArrayGo is independent of any human or institutional influence but is solely triggered by market actions. 

In a blog post, the Array team discussed a traditional bonding curve via manual implementation. 

According to the post, this will help to create a stable value for the token and allow investors and traders to predict the possible asset trend.