The rapid growth of digital projects that issue coins has managed to the need to set common ways for them to interact with each other. As a result, existing and newly created blockchains will be able to exchange data with each other, engage in common plans and applications, while maintaining their architecture. The Aion protocols standardize only the external components of various networks, without affecting the functionality of their internal components.
The project consists of three stages, which involve the following actions:
- Create interconnection and bridge infrastructure with the ability to integrate.
- Replace the modified EVM architecture with the intended AVM with its own scripting language and support.
- Complete the envisaged network infrastructure, ensuring its adequate protection, fast and efficient communication, interoperability and information exchange of inter-chain applications.
As a result, the new network will gradually build bridges from platform to platform, and their functioning and monetization will be supported by the introduced token. The cost of cross-purpose transactions is set by bridges and allocated to their validators.
Prehistory of currency creation
The principal developer and founder of the Aion blockchain is Matthew Spock, who is listed as the CEO of NUCO, which started Bitcoin and joined the board of directors of the Enterprise Ethereum Alliance (EEA).
Together, NUCO specialists are going to expand the bandwidth of Ethereum. Similar work is being done by Cosmos, ICON and Winchain, but the Aion team is much stronger than its competitors and has made some progress. In 2018, it is planned to launch the main functionality of the project, the source code of the network will appear in the public domain, the main research and implemented technical developments will be published.
There have been two generations of blockchains in the digital community so far. The first was Bitcoin, which transfers digital assets between owners at a linear level (Ripple, Litecoin and similar systems joined it). The second came with the creation of Ethereum, followed by XEM and Neo and others. But the first generation of blockchains had a throughput of up to 4 transactions per second, while the second generation had more than 15 transactions.
Aion is a third-level blockchain built for the common scalability of the previous two. The new network will not only confirm transactions but also allow blockchains and their users to socially interact at different levels. According to aion latest news digital developments in various fields of action will display a single mechanism and will be able to integrate.
Aion is available to both commercial and government organizations and the private sector. It provides:
- Use of increased data capacity for AION blockchains.
- Giving secure transaction processing amongst every participants to the process.
- Creation of your own unique blockchains.
The ICO of the project, held at the end of 2017, confirmed its relevance and ensured an influx of start-up capital for the implementation of the plan. Three stages of sales were planned:
- September 2017 – private and preliminary presale (30 million tokens – $ 15 million).
- November 2017 – crowd sale with 6 price levels from $ 0.75 to $ 1.0 per AION (9.5 million tokens – $ 8 million).
- Mid-2018 – public crowd sale at the auction price (20 million tokens).
However, the first two sales have already brought in $ 25 million, and at the end of November 2017 it was decided to cancel the third stage of sales, and distribute it among the participants of the first two stages.
- Estimated initial capitalization – $ 423.53 million.
- The total amount of token emission – 465934587.
- AION for sale – 280,000,000.
- AION blocked for 3 years – 185934587.
The author Dennis P. Reed possesses a vast experience in the IT industry, especially in the domains of website and mobile app development and digital marketing. He writes on topics encompassing the above mentioned domains and is considered a maven in his chosen field – Information Technology.