AION: The third-generation blockchain network.

kambaralikhan (25)in #blockchain • 7 years ago

What is AION ?
Aion is the first multi-tier blockchain network designed to cope with challenges like scalability, privacy, and interoperability and because of these challenges mainstream adoption of blockchains has been restricted. Aion network is designed to support custom blockchain structures while providing a trustless mechanism for cross-chain interoperability. At the base of the Aion network is the first dedicated, public, enterprise blockchain and that is Aion-1. Aion-1 is a best in class, third-generation blockchain that presents a new paradigm of security and fair, representative, cryptoeconomic motivational incentives.

First and second generation blockchain:

When we talk about the first generation of blockchain, the name of Bitcoin comes in mind. Bitcoin showed the path in the making of various alternative currency platforms as the first generation of blockchain technology. These first-generation blockchains gave the solution of traditional transaction constraints or limitations by implementing cryptographically secure, P2P (peer to peer), digital transactions that are confirmed by a decentralized global system and recorded into a unchangeable and immutable public ledger. Resulting in the platform that use the benefits of being digital, while preserving the economics of scarcity. Within the second generation of blockchain, Ethereum introduced the ability to construct application-specific logic on the blockchain network. This empowered new capabilities beyond transactions to join state, business logic and multi-party contracts to be stored and executed on a blockchain and kept in an immutable ledger which in impossible to change. These ideas have been joined into other distributed ledger technologies and have led to the distinction of building a blockchain and building on the blockchain. The emersion of blockchain-based applications is positive for the businesses. However, these different systems are getting disparate as they are detached and capable just to exchange information off the chain or exchange an incentive through centralized exchanges. In a sense, small kingdoms with borders between economies and industries are being solidified. As the number of networks grow, the more separated and sparse the industry becomes. Different blockchains networks presently can’t seem to genuinely understand the advantages of being connected. While specific blockchain networks should need to be created, being able to communicate on chain to different networks offers significant advantages, especially if scalability and privacy can be kept up. A system for joining disparate network will open tremendous incentive for every pariticipating network.

Aion: The third-generation blockchain.

Aion is a third generation blockchain network that will empower any public or private organization to:
• Scale: Provide quick transaction processing and increased information capacity to all Aion blockchains.
• Federate: Send information and incentive between any Aion-compliant blockchain and Ethereum.
• Spoke: Allow the production of customized public or private blockchains that keep up interoperability with other blockchains. But allow publishers to choose governance, consensus mechanisms, issuance, and participation.
At the base of the Aion network is the purpose to built, public, third generation blockchain called Aion-1 which is designed to connect other blockchains and manage its own robust applications. Aion-1 also provides economic framework that boosts interoperability in the ecosystem. Aion-tokens are the fuel used to make new blockchains, adapt between chain bridges, and secure the general system. In future, blockchains will combine information and value in a center point and spoke model similar to the internet. The future of standard blockchain adoption will be accomplished by the advancement of an organized, combined blockchain to incorporate these separate spokes. That integrated blockchain network is Aion.

For more details about the Aion project, please visit Aion Official whitepaper https://aion.network/downloads/aion.network_technical-introduction_en.pdf

Aion network token-sale mechanics.

Private Sale SAFT (Simple Agreement for Future Tokens) details:

Tokens Issued=30,000,000 AION

Funds Raised=USD $15,000,000

Public Pre-Sale

Tokens Issued=9,560,414 AION

Funds Raised=USD $8,010,994

First Public Sale

Fundraised=TBA

Token Cap=10,000,000 AION

Start Date=Late 2017