Today, there are hundreds of blockchains available. and the number is expected to grow even higher in the coming years. With the adoption by governments and businesses, the number will only grow. Aion is a third generation blockchain network. The blockchain network is a multi-tier blockchain system designed to address issue experiences of privacy, scalability, and interoperability in the blockchain networks. The network has the main features that help it achieve its goal.
In general, the Aion protocol allows for the development of a federated blockchain network, making it possible to integrate dissimilar blockchain systems in a multi-tier hood and spoke model that is similar to the internet.
The Aion network is based on the blockchain technology and is like a computer network. The network passes logic and value among the users. Besides, it also freely passes liquid assets where transactions occur without centered intermediaries. The Aion network is centered on a public, third-generation blockchain called the Aion-1. It is planning to connect other blockchains and manage its applications. Aion-1 also provides interoperability in the ecosystem.
What are the benefits of Aion?
It allows users to
- Federate: Aion facilitates inter-blockchain communication via a high-performance bridging mechanism. The bridging mechanism allows both the value and data to be transferred between blockchains.
- Scale: Aion will address the issue of scalability by introducing a new high-performance virtual machine. Aion will also enable applications to operate across multiple blockchains to enhance scalability and performance.
- Spoke: the ecosystem allows custom blockchain design, including different consensus algorithms and virtual machines without sacrificing the interoperability with other chains.
Who is behind it?
The project ecosystem is a community-driven project led by the Nuco Global Inc. The company is the founding company of the token ecosystem and the foundation. The team behind the community-driven project include engineers Ali Sharif, Chris Lin and Alexandra Roatis. Business development department has Dipesh Pradhan and Duncan Cameron. Jason Burke is the CFO and Junius Tu the CTO. Kesem Frank is the COO and Matthew Spoke the CEO of the ecosystem.
It uses the token. The token is an ERC20 compliant token. The project is running on the Ethereum blockchain. Furthermore, the Token plans to migrate to their own blockchain. Too continue to flow freely back and forth between the two blockchains. Nameley, the Ethereum blockchain and the project network. Consequently, the token is the only fundamental method of interaction within the network.