AION cryptocurrency – operations between different blockchain platforms
Startup AION is creating the third generation Blockchain platform, which will provide coordination between various projects. The system allows you to solve a complex of difficulties – scalability, confidentiality, functionality. An integral element of the network is the AION token.
A multi-level block system designed to solve unresolved issues of scalability, confidentiality and interoperability in chain networks.
The Aion protocol allows you to create an integrated chain of blocks, making it easy to integrate heterogeneous chain systems into a multi-level hub-and-spoke model similar to the Internet.
The AION platform is being developed by Nuco, which was established in the spring of 2016. The position of the chief adviser is held by Vitaly Buterin, the founder of the decentralized Ethereum platform. The organization’s CEO is Matthew Spoke, who is also on the Ethereum board of directors. Absolutely all team members have extensive experience working with Blockchain projects.
The startup roadmap describes the key goals of the developers. The first task is to generate AION coins. The final step will be the launch of the AVM virtual machine.
Thus, the project deals with problems related to scalability, confidentiality and interaction of Blockchain platforms. The AION network will create many separate sites for working with projects of various kinds.
As for digital currency, it acts as an internal means of payment. Coins are necessary for transactions between different Blockchain sites. The user creating a new cryptocurrency will be able to choose the optimal algorithm for reaching consensus, he will also regulate the generation of tokens and fully manage his own project.
If we depict the operation of the AION system in the form of a scheme, it will very much resemble an ordinary local network acting as an intermediary in the process of interaction between various Blockchain sites. As a result, absolutely all platforms will be unified.
Data exchange is only one of the functions of the project, it will also allow sharing of values, as a result of which a transaction chain will be formed.
The platform runs on the Aion-1 block – it is a fairly distributed Blockchain architecture. As a result, the network will be able to perform a wide range of tasks:
- Generation of a continuous system integrating various services: from oracles to databases. In other words, projects will be able to interact through the created network.
- Providing everything you need to develop effective, decentralized programs.
- Creating a system based on a safe and economically stable model.
It is not surprising that the idea of the project attracted the attention of investors. This means that the AION cryptocurrency will grow steadily in price, but only if the developers fully realize their plans.
Project capitalization and cryptocurrency value
AION coin trading became possible on October 18, 2017. The initial cost of the asset is 60 cents. Almost immediately, digital currency quotes began to move smoothly along an upward path. The first historical maximum was founded in less than 2 months – $ 6 per coin, and capitalization amounted to $ 250 million.
Then there was a slight pullback, after which the upward movement continued. The current historical maximum is set at $ 11.1, it happened on January 10, 2018. At that time, the project capitalization was 680 million dollars.
After that, the cost fell significantly, but did not fall below the psychological level.
AION cryptocurrency mining
The digital currency operates on the Equihash algorithm and supports the principle of achieving PoW consensus. During the first 12 months, the reward for mining was fixed – four and a half million coins.
In the future, the reward will be calculated according to the 1% inflation model, which implies the loss of coins when used. Such a model is good in that it stimulates growth and ensures the further development of the network as a whole.
AION cryptocurrency wallets
A digital asset can be stored on all exchanges that allow them to trade (a list of available sites will be announced a little later). However, this storage method is extremely risky, since exchanges are subjected to constant hacker attacks, respectively, they are not able to ensure 100% safety of funds.
For maximum security, register a special cryptocurrency wallet. Like many other assets, the AION coin is created according to the ERC-20 standard, so you can use absolutely any wallet that supports this type of currency.
Perhaps the most popular option will be the MyEtherWallet wallet. This resource is considered one of the most reliable for working with cryptocurrencies created on the Ethereum Blockchain. In March, testing of the beta version of the official wallet was completed, respectively, it can also be used.
Where can I buy AION coins
Almost the entire daily trading volume for this digital currency is on the Binance exchange. At this site, cryptocurrency is being paired with Bitcoin, Ethereum and Binance Coion (the internal currency of the exchange). Can I purchase the crypto asset in question for fiat? Yes, on Ethfinex, you can make a purchase for dollars, and on Koinex for Indian rupees. However, note that the trading volume of these sites is minimal, so you have to wait a long time for the execution of the application.
Is it worth investing in AION
The idea put forward by the project was warmly received by investors and the crypto community as a whole. Of course, this can be considered a positive sign. The third generation network, combining all kinds of projects, will contribute to raising funds through its innovative solutions.
The project has absolutely no problems with financing, and this underlines the presence of prospects for further development. In addition, the company has already implemented most of the roadmap. Therefore, the determination of developers to implement their ideas 100%, does not raise any doubts.
Despite the relatively low price and market capitalization, AION cryptocurrency is considered a profitable investment tool for both short-term and long-term investments.
Many analysts and experts believe that the high level of market activity of the crypto asset in question allows you to consistently make money on the dynamic amplitude of price fluctuations. Therefore, even by investing a minimum amount of money, you can literally get a substantial profit in a day, and all this thanks to fluctuations in quotes.
Without a doubt, the AION cryptocurrency is of genuine interest to investors. In addition, you can earn on trading.
Blocknet, ARK, Polkadot, Cosmos, ICON, Wanchain. The objective truth for AION is that they are entering an extremely hot and competitive space right now with their idea. With this large number of other competitors in the market, it will be relatively much to prove itself a leader in space.
Just judging by the large number of projects, it will be tough to ask to pretend that Aion will be the winner who will emerge from this interconnect war. Other similar projects have different technologies (which may turn out to be excellent), be further down their development pipeline, or simply have an advantage over the engine over the Aion. This makes any long-term investment in the protocol extremely risky on this basis.
Nuco plans to pave the way for future blockchain technology. The Toronto company is creating the third generation of blockchain technology with its Aion network. The network blocks of the protocol will interact from scratch, which actually means that the block diagrams can talk to each other.
Today we have hundreds of blockchains. In the future, this number will grow to thousands, and probably even millions. We need a way to link blocks to another – and Nuco plans to create this ecosystem.