3rd Generation Blockchain System, AION

nuralfiani (25)in #cryptocurrency • 7 years ago

What is Aion ?
Aion is a multi-tier 3rd generation blockchain system that is designed to overcome the challenges of the tradition blockchain network that reduce the capacity of the users to generate profits like the privacy issue, scalability, and the interoperability problems. Aion solves all these problems with its advanced features. As the blockchain network was built to support businesses and solve the unique financial problems of the users Aion is designed in a way that it enhances and support the blockchain network that will enhance the profits of the users. An Aion is a protocol that is the solution of the fragmented and the fast-growing blockchain ecosystem. An Aion system is a shared decentralized system that allows all the protocol of the blockchain whether they are private or the public will be able to connect with each other with the help of Aion network this will enhance their sales and profits.

AION token
Aion network is driven by its tokens that are known as TAION tokens. The TAION tokens are the fuel that is utilized to operate the Aion-1 blockchain. TAION tokens are used for building and organizing the software applications. It is also used for establishing the bridges between differently available blockchains and also modifying, builds, and make connections between the new participates of the blockchains that will enhance the volume of the blockchain business. An AION tokens are utilized as the requirement for performing the operation within an Aion network and is also used as an incentive to sustain the integrity of the Aion network. On the blockchain of Ethereum the tokens of the AION are primarily being offered as an ERC-20 token and after that when the operation of the Aion network starts effectively these ERC-20 tokens was converted to the AION network tokens (TAION) and will after that it will be able to flow freely between the Ethereum and the Aion blockchains. So, the Aion token will be beneficial for the users as it enhances the security and profits of the users.

The Power and Utility of AION Token
AION token is not just a token its 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 OPERATIONS
The mechanics of the Aion-1 blockchain are powered by the AION token, including the ability for users to stake out tokens to support the validators of the Aion consensus process.

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

INTER CHAIN BRIDGE
To instantiate a bridge from Aion-1 to a participating blockchain, AION tokens must be plugged into a bridge registration contract. Once created, other nodes can join the bridge by staking out AION tokens as well. Fees for inter-chain transactions are set by bridges and distributed to the validators of these bridges.

PARTICIPATING BLOCKS
AION tokens allow you to access and create Aion-compatible participating blockchains.

Build Your Own Aion-Compatible Blockchain

Take the opportunity to experiment with an Aion compatible blockchain! Before our network is fully operational, we will continue to provide build-your-own-blockchain and alpha capabilities for AION ERC-20 token holders.

The release is a Nuco-built,production-ready, enterprise-ready and Aion network-compatible blockchain platform. The release comes complete with an ecosystem of tools and services that enable the next generation of blockchain functionality. Features are:

Business quality and security, BFT kernel
Massively scalable functionality for large network deployments
Compliance with Enterprise Ethereum Alliance policies, development environment, and administration tools
Java API with high bandwidth and low latency

With this platform, you can experiment with an enterprise-ready blockchain that is Aion-compatible, building the first foundations of the third generation blockchain network. Get access to our build-your-own blockchain with your AION ERC-20 tokens using our Binary Access Portal.

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.

TEAM AION