“Aion Network is a multi-tier blockchain, a project that wants different blockchains to communicate and interact between themselves. Aion has an ambitious plan, to become the internet of the future for blockchains, the common protocol for all the blockchains….”
Coin Name: Aion
Birth of project: 2017
Project Status: Pending
Circulating Supply: 115,319,871 AION
Validation: Proof-of-Intelligence / PoW
Official website: https://aion.network/
Introduction to Aion (AION)
Aion is a project founded by Matthew Spoke, which whitepaper was released in 2017, and the token sale just ended on November 2017. The first steps are just being given, as we can see by analyzing their roadmap.
Aion Network is a multi-tier blockchain, a project that wants different blockchains to communicate and interact between themselves. Aion has an ambitious plan, to become the internet of the future for blockchains, the common protocol for all the blockchains.
With the existence of a common protocol, it will be more efficient to build decentralized systems. While 2nd generation blockchains are still giving their first steps (and 1st generation ones – like Bitcoin – aren’t even teenagers), they do already allow the existence of dApps and sidechains.
At the same time, this 2nd generation blockchains (NEO, Ethereum, Cardano, among others), cannot communicated among themselves, and this is the opportunity and use case of Aion, a 3rd generation blockchain to allow communication and integration of 2nd generation blockchains.
We have seen PoW, PoS, and other validating or trustless methods used by different blockchains. Aion uses Proof-of-Intelligence, which requires the training of a neural network – compose by nodes – to prove computation happened and that it’s verifiable.
The nodes are the ones validating or rejecting the transactions. This is still on project and consideration stage, it’s a general design and more details about it will be provided later on. After the transactions are approved they finally go from the sender to the other network through a bridge.
These bridges create high-performance connection points, they connect different blockchains allowing the transfer of data and funds from blockchain to blockchain, like if they were federations of a country, and this is why it’s called a Federate system.
Therefore, the bridges have two responsibilities; broadcast the approved transaction, but also check if the fees for the transaction are paid, as there is a minimum stake for the bridges to operate. Aion enables the transmission of logic and value from the different participants in the different blockchains, with no centralized intermediaries involved.
Aion virtual Machine also solves the scaling issues existing in most blockchains these days, namely Ethereum, as applications can operate across different blockchains, being faster than the Ethereum Virtual Machine.
Aion is a very ambitious project that is just starting, so it’s hard to say if it will succeed or not. It’s trying to solve several existing limitations, but there other coins – namely Ark – with the same objective, so it has competition. Not to mention that 2nd generation blockchains are aware of their limitations and are also trying to solve them.
This is a brief introduction to Aion, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!
Feb 19, 2018: $3.38
Jan 19, 2018: $5.33
Dec 19, 2017: $2.94
Nov 19, 2017: $0.811147
Understanding blockchain is becoming more and more complicated.Just when you thought you understood it, in terms of Bitcoin, you realize it is so much more complicated.I’d like to lie that I understand what AION is but I don’t understand it. The developers should find a way of making it simpler for people to understand. How else do we buy into it?
The only problem I see with the complications most people have with blockchain is that there are more and more blockchain coming out every day with different set of protocol, and this conflict the preexisting knowledge a beginner already have in mind when it comes to understanding blockchain. If they are just few, it would be very easy to understand and master but the difference is the case we have.
@martins, yeah, it’s hard to get, one just has to read, and read, and read.
@jaymish, do you understand Ark? Aion is pretty much like Ark. Each blockchain has it’s own language. Like we have English, French, and so on. Those who can’t speak French cannot communicate with French people.
Aion wants to be that interpreter that allows Bitcoin blockchain to communicate with Ethereum blockchain. When all the blockchains communicate, decentralization, decentralized Apps can advance full steam as the foundations for a blockchain society.
It’s all about data transfer and communication, the whole world today is about data. Right?
Aion is not an obvious choice to invest though, at least for me, at the moment.
Blockchain is right up there close to bitcoin and it’s believed that it doesn’t suffer the scrutiny bitcoin suffers lately. Even though I haven’t had any transactions with AION, I still believe in its project and hope it effectively works out being the common protocol for all the blockchains.
I find it so interesting how the internet has been changing for years.
I do not have experience with AION, but this article was very much of a help.
However, I have to disagree with Martins when it comes down to closeness of bitcoin and blockchain.I believe bitcoin will be strong for some time, much more than any other cryptocurrency, but it will take years to find out who will lead the spot, in my opinion.
@Denis From my experience in this life, nothing remains on top forever. The same thing is the case with bitcoin and blockchain, yes it’s true bitcoin is on top now, there is no guarantee that it would continue being on top till the end of time. Remember the crazy fall it experienced not long ago. If something like that happens and stays over a long period of time, what do you think would be the fate of the coin?
@denis Bitcoin leads, no question here. It’s ecosystem has been developed for years now, and keeps growing. as more and more people are using it.
@Martins, there are several blockchains. We have bitcoin blockchain, ethereum blockchain, neo blockchain, and so on. So, blockchain and bitcoin aren’t different things, it’s the same thing. There are different blockchains though. Any questions, do let me know.