To start a business with a blockchain, you need to be a blockchain!
Approximately two months ago, monitoring the ICO indicators of another well-known project, I came across the project AERGO, which suddenly interested me. How? Firstly, it's a 4-generation blockchain, one of the few ones yet. Secondly, the problem that the guys swing, this problem cares all those who create and promote ay blockchain project. The name of the problem is “scalability”. Since I have connected my own earnings with this area, I was interested in google and study about. Let’s take a glance together at the brief of my researches.
What does this platform provide?
AERGO is equipped with many useful features for developing business applications from scratch. Those who still have no experience in understanding the mechanism of the blockchain will benefit from the interesting information, customer support and the simplest creation of dApps. In short, there is everything you can find for using innovations in the field of blockchain.
The roots come from the East
Like recently everything new, the project comes from Asia, South Korea. Do you see the BLOCKO logo? This is the parent company, the developer of blockchain solutions for Hyundai and Samsung since 2014. Now it is on the 2nd place in the world in the rating of companies which use blockchain systems, the 1st place, of course, belongs to IBM. The BaaS source code for its AERGO project was created by themselves in conjunction with Coinstack. Also in addition, the Blocko XYZ unit was created to write dApps AERGO. About how promising the project will be, says the total amount of funds received for 2 rounds of financing that makes $ 14, 000, 000.
The basis of AERGO
There are three elements, with that you can create a scalable protocol, and it will work at a high speed. Briefly about each one:
- Aergo Chain is a SIDECHAIN blockchain which acts with the function of security of the smart contracts and the dPoS mechanism. According the promises, capacity of the chain would be more than 1 trillion TPS.
- Aergo Hub is a power store, otherwise - web hosting for everyone who uses blockchain (developers and commercial clients);
- Aergo Marketplace should be useful for trading assets, finished products, content, as well as storage of algorithms. In general, it is a complex system, and they seek to paint it somehow better in the picture.
Token AERGO and future plans
The AERGO token seems to be the solid fuel for launching smart contracts, the DPOS algorithm, as well as a tool of payment for hosting and domain services.
Talking about ICO: there will be no Public Sale, since all the reserved amount of tokens was successfully sold on the strategic investors. I'll add that the company plans to unlock tokens by half: 50% at once, then after 3 months another 25% and the rest part in another 3 months. Thus, we are expecting the total unlock within six months.
By early 2019 the company plans to launch Main-net. Reading the Whitepaper, I saw the postscript "timelines are tentative and can be changed". Sounds iffy? But till this moment everything was clear, and the road map is being complied with: the promised SQL and beta version are delivered on time in the 3rd quarter of 2018, now the team is underway to launch test-net. Both main tools Hub and Marketplace will begin work not earlier than in a year, with the no-fail completion date of November 2019.
I did not want to write long and dull about strategic investors. Thus I add this screenshot, so everybody can choose the name and google about it.
The main partner, basically the foundation for this project is the BLOCKO, Korean supplier of consulting and infrastructure chains for the corporate sector, the owner of Coinstack. This company in 2017 attracted more than $ 4, 700, 000 from Samsung SDS, working on the platform Nexledger for Samsung Card. Other major investors are the FBG Capital crypto-currency fund and JRR – the most influential strategic partner for Hashagard and one of the largest investors in Binance.
The team: how much experience do they have?
In my opinion, the team can be called a strong link in this project. Most developers are being experts in blockchain area during more than 10 years, experience that we can not underestimate, moreover they work full-time. These people head the board of directors:
Phil Zamani who is concurrently the Chief Operating Officer of Blocko, is also Senior Vice President of Cloud Biz Deutsche Telekom, and at Santander he manages Big Data models and cloud solutions. Roderik van der Graaf is more specialized in investments, he traded shares for 13 years for Deutsche Bank, HSBC, Rabobank and other banks or financial institutes that are, to be honest, not what I heard about, but I know they exist. Jane Lee and Alison Shim are good at consulting and strategic planning.
Of course, it is good to be a leader, but someone also has to create a product. This is the task for the guys from Blocko, and maybe it's even better that all these people used to work together and have a common understanding about creating good projects.
What’s with TDE?
Until quite recently, there was no news about TDE. But our patience may have paid off, because in September it was announced the start of Token Distribution Event. There was a slight delay, which is explained by the creation of a new Proof-of-Value system. As it were, improved protection from the owners of multi-accounts and drop-hunters. The total pool will be a solid 3 MIO, which will be divided between 3,275 people in the amount of $250-$2000, depending on the contribution to the project and it’s value. The application form for participation in the program TDE will be published on the official website on October 1, 2018, confirmation of applications and KYC will be held from 15 to 20 October. Tokens will be credited to the Ethereum wallet.
What could be the future of this project?
Let's summarize: a strong team plus eminent strategic investors plus a precise focus on the corporate sphere (the introduction of products into business processes) plus they keep all the developments within the one state - South Korea. It is also important that the platform is based on the original Coinstack code, which has already been tested by millions of users. You can code at Aergo platform in many popular languages such as SQL, Java, Golang or my preferable Python, while Etherium limits the code scripting by the single Solidity.
Now something must be deducted: the road map is poorly spelled out, the Crowd sale almost did not exist - $29, 000, 000 were sold directly to strategic investors. Instead of a normal ICO there will be just a Drop Sale with remuneration for Twitter, Telegram, YouTube, blogs, etc. Weakness here is also the competition: the Ethereum Enterprise alliance has already got such a clients as Microsoft, BP and UBS, in addition there are other large blockchain platforms, such as IOTA or VeChain, which have established partnerships with large companies. In this regard, developers of Aergo expect a serious competition. The success of the idea depends entirely on the ability of the team to offer users something special, and do it quickly! So I recommend to follow the info about community meet-ups which are being discussed in Telegram, e.g.