Aion (AION) 2018-04-28T19:17:22+00:00

Aion (AION)

Project Description

Purpose

The Aion network is a multi-tier blockchain network designed to support a future where many blockchains exist to solve unique industry problems and to power the services of the modern world. Aion will become the common protocol used for these blockchains, enabling more efficient and decentralized systems to be built.

Users will be able to deploy adjacent participating networks suitable for their own use cases and communicate with other networks through an accountable routing architecture. Users ranging from large enterprises hosting consortium networks to community-oriented open networks are all welcome to participate. In the future, decentralized applications could sit on top of the connecting network with logic driven by integrating data from a multitude of blockchain networks.

At the root of the network is a purpose-built, public, third-generation blockchain called Aion-1. Designed to connect other blockchains and manage its own applications, Aion-1 also provides the economic system that incentivizes interoperability in the ecosystem.

 

Strengths

  • Allows private blockchains to be connected to public blockchains
  • dApps built on Aion-1 can operate on and tap into the best features of any other blockchain
  • Interoperability allows IFTTT logic between different blockchains

 

Weaknesses

  • When Aion switches from PoW to hybrid PoS, it might bring complications or even a hard fork

 

Network Status

The Aion network went live on April 25th, 2018.

 

Roadmap

2018: Phase 2 – Denali
Aion Virtual Machine (AVM) Version 1
Aion Scripting Language
Proof-of-Intelligence Consensus Algorithm

2019: Phase 3 – Everest
Participating Network Bridging
Complete Validator Nomination
Aion Virtual Machine (AVM) Version 2

 

Governance

The consensus mechanism that will be used by Aion blockchain is a hybrid staking and proof-of-intelligence system. Every single node in the network can submit themselves as a candidate and become backers for a candidate. Backers can be stakers or solvers. The candidates with the highest set of backers are chosen as validators for that term. The validators generate blocks and get proportional block rewards.

 

Aion Similarities

Similar to ICON and Wanchain since their main goal is to connect different blockchains together.

 

Notable partnerships

Aion is partnered with many companies including SingularityNet, Metaverse and TMX Group.

 

Exchange

Traded on Binance, Ethfinex and Kucoin.

 

Stack

A blockchain layer.

 

Community

Telegram: 10 884 members
Twitter: 43 983 followers
Reddit: 4 389 subscribers

 

Price history

April-25th-2018: 3.39 USD
March-2018: 2.85 USD
January-2018: 5.10 USD
October-2018: 0.62 USD

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.

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