What is Ambrosus?

Sep 13, 2022
4 min read

This blog post will cover:

  • What is Ambrosus?
  • Where did Ambrosus come from?
  • What are the advantages of Ambrosus?
  • What are the disadvantages of Ambrosus?
  • How to buy Ambrosus on SimpleSwap?

What is Ambrosus?

Ambrosus is a blockchain operating on the Internet of Things (IoT) platform. Originally it was created on the Ethereum blockchain as a part of supply chain management. Its purpose was to optimize food and pharmaceutical industries by means of blockchain technology and IOT devices. Some of these devices are high-tech sensors, others are encrypted anti-tampering mechanisms. There are also smart contracts and blockchain protocols that help to create a secure ecosystem of a supply chain. It means that both distributors and consumers can track, store, and transmit the flow of the products.
Ambrosus positions itself as a coherent, end-to-end solution, which offers a service of better data management for companies. It is also decentralized, so there is no single entity that controls the supply chain data.
The Ambrosus blockchain also issues its own AMB crypto which serves as the foundation of the Ambrosus network. The idea of the coin has derived from ancient Greek mythology, where ambrosia was a miraculous food of gods. As the legend says, it made them powerful and immortal. So does the AMB coin to Ambrosus’s ecosystem - it powers, activates and operates the network with all of its services.

Where did Ambrosus come from?

Ambrosus was created in 2017 by Angel Versetti and Stefan Meyer. It is based in Switzerland, one of the most crypto-friendly countries in the world. The team was active in its development and has rapidly grown into a big company. The founders have pretty strong credentials and experience in the area of cryptocurrencies, sensors, and microelectronics, programming, and investments. All this knowledge is well suited to blockchain-based supply chain platforms. Ambrosus is supported by the United Nations, EIT Food Swiss Federal Institute of Technology, and more. Besides, it's financed by the Swiss government.

What are the advantages of Ambrosus?

  • Use of Javascript
    It allows creating API solutions even to those developers, who have only basic knowledge in programming.
  • Ambrosus technology
    The Ambrosus protocol is a “three-layer pie”, it comprises Measurement Repository, which manages the product-specific measurements; Requirements Smart Contract, which examines the products’ adherence to the quality standards; Amber Token - which has several use cases on the AMB platform.
  • Open-Source
    Whoever has an Internet connection can customize the nodes and operate on the platform through their own IT infrastructure.
  • A hybrid solution
    It allows users to choose what their data they want to be public and private with.

What are the disadvantages of Ambrosus?

  • The lack of popularity
    As Ambrosus is not among the top cryptocurrencies, it’s not commonly used and known, thus has fewer possible applications.
  • Low level of liquidity
    The volume appears to be quite thin and the big part of it is concentrated on one exchange, that’s why it may be difficult to make transactions.

How to buy Ambrosus on SimpleSwap?

Now that we’ve told you about AMB, you may want to become a part of the friendly AMB community. Don't know how? We suggest you go to the SimpleSwap homepage and follow the instructions below:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select Ambrosus in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Enter the Recipient's Address. AMB will be sent to this address. Be careful and make sure you use the correct address.
  • Check all the information you have entered. If everything is correct click the Exchange button.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

We hope that now you know enough about Ambrosus and this information was useful for you. See you on SimpleSwap!

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