AERGO- The 4th Generation Enterprise Blockchain Protocol.

aaacherry (37)in #steem • 6 years ago

AERGO is all set to resolve the issues of integration, software development, privacy, scalability, and interoperability that exists in today’s blockchains.

My love for this Aergo project is that;
It is targeting Enterprise Sector
It is backed by Blocko which has developed
Coinstack , a private blockchain solution which is deployed to 25 million users around the world.

PROBLEMS AERGO WANT TO COMBAT

Am sure everyone is aware that the current blockChain is broken. There are backsides and loopholes around the system i.e Scalability,
Resource Segregation and Adaptable Governance Model.

The application of blockchain in enterprises has not give a buoyant outcome. Some of the challenges accrue here are:

Hard for developers and IT contractors to write applications for blockchain, too many conflicting implementation models to choose from, lacks the performance needed or data controls typical of businesses
difficult to integrate a new blockchain project into existing IT systems
Integration of Public and Private Blockchains.
In summary of this, the current blockchain is not enterprise friendly. Other challenges are lack of transparency, security and so on.

HERE IS THE SOLUTION OFFERED BY AERGO

Aergo project is backed by
Blocko.Inc (“Blocko”) , one of Korea’s largest blockchain infrastructure provider with operations in the UK, South Korea and Hong Kong. Blocko has already deployed blockchain products for Top rated companies like LG, IBM, Hyundai, Samsung, Gyeonggi-do provincial government etc.
COINSTACK ( A 3rd generation blockchain platform which includes developer tools, blockchain operating system, integration APIs etc) which is developed by Blocko will act as the core backbone of AERGO, fueling its ecosystem.

AERGO aims to become the de facto enterprise blockchain. One that bridges the gap between both public and private networks. A platform that uses core blockchain technology and deployment blueprints that have already been proven in real-life in-production systems across the world by Blocko.

AERGO will create a Blockchain Eco-System which will enable both the enterprises and developers to design, build and deploy their own blockchain applications within the cloud.
The Ecosystem will offer the opportunity for developers to personalize their blockchain and dApps on both public and private chains. Developers can choose to deploy public and private chains alone or a mix of both.
Apart from that, AERGO will also feature a feature-rich middleware layer which will act as a bridge with various legacy enterprise software.
The core three elements of AERGO
Ecosystem are as follows:

1.AERGO CHAIN :

AERGO Chain is a proposed blockchain designed to mitigate issues currently experienced with public blockchains. It aims to include an SQL based smart contract platform as well as advanced features, such a distributed version and concurrency control.
AERGO Chain is a proposed new protocol consisting of a global public decentralized network of enterprise blockchains run by node providers. Aergo Chain will feature a SQL-based smart contracts platform(AERGOSQL), which will help users to easily create and execute advanced smart contracts to enable innovative business products and services.

To achieve interoperability Aergo will be supporting the Ethereum Virtual Machine. This hybrid approach provides useful interoperability between different types of smart contract operations.
One of the major issues blockchain is facing is the scalability issue. Aergo plans to implement sidechains which will help the performance to Enterprise scale, potentially exceeding 1 million TPS.
Aergo has opted for Delegated Proof-of-Stake process to reach consensus. DPoS is in a way similar to PoS, but is different and more “democratic” features that Aergo feels it makes more efficient and fair.

2.AERGO HUB:

AERGO Hub is designed as a blockchain hosting service that will act as the public interface for designing, testing, deploying and managing independent private and public or a mix of both blockchains based on AERGO Chain.
It will be acting as the interface which will connect and work with various dApps hosted in the AERGO Chain.
All the dApps will be stored in either of the two repositories described below.
AERGO Public Repository, a shared, open and decentralized underlying infrastructure for dApps
AERGO Private Repository, a private, controlled, and secure infrastructure for dApps.

Similar to Amazon AWS, AERGO Hub designed to act as a public cloud web service with functions like
Serverless Database
Support for all the software microservices
CDN
Interfaces for smart oracles
Gateway to intelligently route data traffic into the blockchain
We can summarise Aergo Hub as the proposed public interface into AERGO Chain

AERGO MARKETPLACE

True to its name, Aergo Marketplace will be a “Supermarket” for all the software applications, computing resources and other services which are designed to run or work on AERGO Chain.
Apart from that, it will also act as the Hub where all the third party Service providers/ vendors can make their products and services available for AERGO users.

In summary, AERGO Marketplace can only be accessed through AERGO Hub’s public interface, is designed to be a vibrant, open and sustainable ecosystem full of new technologies and innovations.
Product Roadmap and Progress
The project is in its early stages. Reviewing Aergo Github, It’s good to see that the team is keeping up with Roadmap. At the time of writing, they have around 458 commits in GitHub and is highly active, which is a positive sign. For the Project, September and December are crucial as Arego Alpha and Aergo Testnet is planned.

AERGO Token.

The tokens are termed as Aergo Token . Total supply of Tokens is capped at 500,000,000 (500 Million). The token will be used as a medium of exchange within the AERGO ecosystem, majorly for Aergo Marketplace which includes payment of various products and services.
Team
One Striking feature of Aergo team is most of them are fetched from the parent company Blocko. All of the team members have rich experience in Blockchain development and design. You can read a deatiled analysis of the team
here.