“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!