Aion: Contemporary Blockchain Network

Bitcoin and Ethereum have changed the entire landscape of the Blockchain and opened up the new era of the decentralized network. The Blockchain is fast, secure, transparent and trustless ledger but due to the increased adoption, there are questions arising over its scalability, speed, and security. Here, let me introduce the new Blockchain which solves these issues.

AI Token and capabilities

AION token is not just a token it's beyond trading and exchange.The AION token is the fundamental method of interaction within the Aion network and its primary currency, powering with the following features

AION-1

Mechanics of the Aion-1 blockchain are powered by the AION token, including the ability for users to stake tokens to back validators of Aion's consensus process.

BLOCKCHAIN SOFTWARE APPLICATIONS

Developing applications on Aion-1 requires the use of AION tokens to access the resources of Aion Virtual Machine. Based on the complexity of the application, the AVM consumes tokens as fuel.

INTER-CHAIN BRIDGES

In order to instantiate a bridge from Aion-1 to any participating blockchain, AION tokens must be staked into a bridge registry contract. Once built, other nodes can join the bridge by also staking AION tokens. Fees for inter-chain transactions are set by bridges, and distributed to the validators on those bridges.

PARTICIPATING BLOCKCHAIN

AION tokens can be used to access and create customized Aion-compatible participating blockchains.

Big Market

Moog which is an American-based designer and manufacturer of motion and fluid controls and control systems for applications in aerospace, defense, industrial and medical devices announces there partnership with the AION.

A Company with more than 10,000 employers are interested in Aion blockchain platform. Moog sought the future proofing that compatibility with the Aion network allows. Moog will set the standard for blockchain based supply chain in manufacturing, confident this platform will interoperate with other major blockchains being setup in relevant industries such as Banking, Auditing, Insurance etc.

This is not an end, Aion is also welcome by the BITT a Financial Technology company that utilizes blockchain and distributed ledger technology to facilitate secure peer-to-peer transactions with seamless mobile money across a suite of Bitt's Software and Mobile Applications.

Companies such as Bitt, which are blockchain agnostic, can benefit from using the Aion Network to achieve its objectives, as it will allow for the company to bridge multiple production environments and systems in a truly decentralized way. "We are excited to have Aion as part of the blockchain hub in Barbados and look forward to exploring a partnership with them to achieve Bitt's Settlement Network and financial inclusion goals using the Bitt payment ecosystem." Oliver Gale, Co-Founder Bitt.

The Verdict

AIO has a huge potential and I would say it has immense potential to change the business landscape. From investment standpoint too, it has very good potential.

Read the Whitepaper here: https://aion.network/whitepapers.html
For more details visit: https://aion.network/
Written by ollivander7
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