Current prices on coinmarketcap.com as of this writing: $2.79 USD 0.00032998 BTC 0.00330165 ETH
Aion is a common protocol for blockchain interoperability; a third-generation blockchain network that will enable any private or public sector organization to:
• Federate: Send data and value between any Aion-compliant blockchain and Ethereum.
• Scale: Provide fast transaction processing and increased data capacity to all Aion blockchains.
• Spoke: Allow the creation of customized public or private blockchains that maintain interoperability with other blockchains, but allow publishers to choose governance, consensus mechanisms, issuance, and participation.
Mainstream adoption of blockchains has been limited because of scalability, privacy, and interoperability challenges. Aion is the first
multi-tier blockchain network designed to address these challenges. The Aion protocol enables the development of a federated blockchain network, making it possible to seamlessly integrate dissimilar blockchain systems in a multi-tier hub-and-spoke model, similar to the internet. The Aion blockchain network is like a computer network that makes it possible for dissimilar systems to communicate. The Aion network will pass logic and value among participating blockchains as freely as liquid assets, where every transaction occurs without centralized intermediaries. These infrastructures, protocols, and concepts will work together to guarantee transmission from an origin to its destination through interchain communication. The value of these technologies is that they enable one blockchain to transact with another blockchain, as well as one blockchain to transact with every connected blockchain. The Aion network will be centered on a public, purpose-built third-generation blockchain called Aion-1. Designed to connect other blockchains and manage its own robust applications, Aion-1 also provides the crypto-economic system that incentivizes interoperability in the ecosystem. Aion-1 is a connecting network designed as a trustless software execution platform with a robust crypto economic model that will:
• Allow the creation of unlimited spokes—custom blockchains that connect with all other Aion network blockchains and allow users to customize governance, issuance, and participants.
• Provide federated inter-chain communication of data and value between all Aion network spokes.
• Connect with the main Ethereum blockchain, allowing AION tokens to traverse chains between Aion-1 and Ethereum seamlessly.
One of the core concepts in the Aion network design is that it is dedicated to the Federation of compatible blockchains or blockchain related networks. These can be purpose-specific blockchains, private networks, or consortium blockchains representing collections of entities. Regardless of the context, the interconnectedness and the ability to interoperate in an efficient, secure, and transparent manner increases the value of each network individually and also provides stability to the blockchain ecosystem in general. A participating network is any network that has successfully implemented requirements to integrate with the connecting network. Once integrated with the Aion network, participating networks gain access to the communication protocol (interchain transaction), enabling numerous possible use cases.
Participating networks have the full flexibility to customize different modules of their blockchain infrastructure including the consensus algorithm, hashing algorithm, virtual machine (VM), and scripting languages.
Key components of the Aion-1 blockchain include:
• Consensus will be used to implement the proposed architecture of connecting two or more blockchains. Two variations of the BFT protocol will be designed to reach consensus on the bridge and the connecting network:
– Bridge consensus is a lightweight variation to reach consensus quickly on the bridge.
– Connecting Network Consensus is a consensus protocol focused on providing stability at scale.
• Aion virtual machine (AVM) is a custom-built, lightweight, performant, and stable VM that leverages key characteristics of the Java Virtual Machine (JVM), providing concurrency and robustness within a blockchain-specific context. The AVM is responsible for running applications on top of Aion-1. The AVM will include its own scripting language.
Moog Inc., a Fortune 1000 company specializing in building parts for the aerospace and defense industries, will integrate Aion. By integrating Aion, Moog’s blockchain platform will soon be able to interoperate and share data with other major blockchains in industries ranging from banking to auditing and insurance. James Regenor, Director of Transformative Technologies at Moog, stated “Aion will allow us to move data between the multiple blockchains that could be present in our supply chain. We think this is a very important step, and we’re glad to be participating in it.”
The Aion team consists of:
Matthew Spoke (Founder AION, CEO Nuco, Board Of Directors Enterprise Ethereum Alliance)
Kesem Frank (Founder Nuco)
Jason Burke (CFO BetterU Education Corporation, CFO Sensibill Inc).
The advisors’ list is impressive and full of all-stars:
Eric Wetlaufer – SMD, CPP Investment Board Board of Directors, TMX Group
Salim Ismail – Founder, Singularity University Former VP, Yahoo
Anthony Di Iorio – Co-founder, Ethereum CEO, Jaxx & Decentral
Michael Terpin – CEO, Transform Group Co-founder, BitAngels
Jeff Pulver – VoiP Pioneer Co-founder, Vonage
Eric Gu – CEO, ViewFin Founder, Metaverse Project
Peter Vessenes – Co-founder, Bitcoin Foundation Managing Director, New Alchemy
Multiple Partners including Bancor, Jaxx, Icon, Sonm, Metaverse
The AION token is initially being offered on the Ethereum blockchain as an ERC-20 token. As soon as the Aion network is operational, these ERC-20 tokens can be seamlessly converted to AION network tokens and will continue to be able to flow freely back and forth between these two blockchains. To incentivize a hybrid network, a certain distribution of stakes and proof-of-intelligence is needed. This ratio is currently arbitrarily designed to be 60/40 for stakes and proof-of-computes. The AION token is currently traded on the following exchanges: Binance, Kucoin, Liqui, EtherDelta, Token Store, and Radar Relay. There is a low circulating supply of 79,265,735 AION compared to the total supply of 465,934,587 AION. The current price of AION is $2.79 with a market cap of $221,143,474. As the cryptocurrency market continues to recover, this token could easily return and suprpass its ATH of over $10 with an investment return of 4X or greater.
For more information regarding Aion –
Website: aion.network (Whitepaper, Roadmap, Team, Investors, Partners)
Twitter: Aion_Network (32.3K Followers)
Telegram: aion_blockchain (8403 members)