AION — A Multi-Tiered Blockchain Network Designed To Solve Unique Industry Problems

ridwanputra (6)in #cryptocurrency • 6 years ago

Mainstream adoption of blockchain systems has been limited due to unsolved questions of scalability, privacy, and interoperability. In this paper, we will outline a proposed design for the Aion Network; a 3rd generation multi-tier blockchain system designed to address these challenges. Core to our hypothesis is the idea that many blockchains will be created to solve unique business challenges, within unique industries. As such, the Aion Network is designed to support custom blockchain architectures, while providing a trustless mechanism for cross-chain interoperability. At the root of this system is the world’s first dedicated public enterprise blockchain, Aion-1; a state of the art blockchain that introduces a new paradigm of security, and fair, representative crypto-economic incentives.

AION, The Third Generation Blockchain
In the future, blockchains will federate data and value in a hub and spoke model similar to the internet. The future of mainstream blockchain adoption will be achieved by the development of a networked, federated blockchain to integrate these separate spokes. That integrated blockchain network is Aion.
Aion is a third-generation blockchain network that will enable any private or public sector organization to :

Federate: Send data and value between any Aion-compliant blockchain and Ethereum.
Scale: Provide fast transaction processing and increased data capacity to all Aion blockchains.
Spoke: Allow the creation of customized public or private blockchains that maintain interoperability with other blockchains, but allow publishers to choose governance, consensus mechanisms, issuance, and participation

At the root of the Aion network is a purpose-built, public, third-generation blockchain called Aion-1. Designed to connect other blockchains and manage its own robust applications, Aion-1 also provides the economic system that incentivizes interoperability in the ecosystem.

AION tokens are the fuel used to create new blockchains, monetize inter-chain bridges, and secure the overall network.

The Protocol
The Aion protocol enables the development of a federated blockchain network, making it possible to seamlessly integrate dissimilar blockchain systems in a multi-tier hub-and-spoke model, similar to the internet.

FEDERATE

Aion facilitates inter-blockchain communication via a high-performance bridging mechanism. Multiple bridges between pairs of chains allow both data and value to transfer between chains.

SCALE

Aion addresses the issues of scalability and performance by introducing a new high-performance virtual machine, and by enabling applications to operate across multiple chains.

SPOKE

Aion allows custom blockchain design, including different consensus algorithms and virtual machines, without sacrificing interoperability with other blockchains.

The Network
The Aion blockchain network is like a computer network that makes it possible for dissimilar systems to communicate.

The Aion network will pass logic and value among participating blockchains as freely as liquid assets, where every transaction occurs without centralized intermediaries.

The Aion network will be centered on a public, purpose-built third-generation blockchain called Aion-1. Designed to connect other blockchains and manage its own robust applications, Aion-1 also provides the crypto-economic system that incentivizes interoperability in the ecosystem.

Roadmap

Phase 1

The focus of the first phase in the Aion release schedule is the interchain communication and bridging infrastructure. With this in mind, phase 1 functionality will include:

Modified, high-performance EVM
Functioning bridging and interchain communication
Modified proof-of-work consensus algorithm

Phase 2
The second phase of the Aion release plan is targeted towards the migration from our modified EVM architecture towards the proposed AVM architecture. Development priorities of this phase include:

Aion Virtual Machine
The Aion scripting language
EVM legacy codebase continued support

Phase 3
The third phase finalizes the envisioned network infrastructure, providing infrastructure for fast, efficient interchain communication and interchain applications. In addition to the interchain functionalities from Phase 1, and the VM implementation from Phase 2, this phase will introduce our representative consensus including the representative consensus algorithm.

TIM