AION: Third generation Blockchain network
Cryptocurrency space is flooded with the lot of ICOs. Projects with almost no working product and team are trying to raise money from the market. In this time, it is quite difficult to spot the project with the great idea on Blockchain. One such project I am going to talk about is AION Network.
AION is the third generation Blockchain project which is trying to solve problems like scalability, privacy and interoperability challenges of Blockchain. Aion network is designed to support custom blockchain architectures while providing a trustless mechanism for cross – chain interoperability. The origin of Aion network is AION – 1 which is the first dedicated, public and enterprise blockchain. It is a state of the art, third generation blockchain that introduces a new paradigm of security, fairness, representation and cryptoeconomic incentives. on is a third generation blockchain that will enable a private or public organization to Federate - send data between any Aion complaint blockchain and ethereum, Scale - provide for transaction processing and Spoke – which allow the creation of customized blockchain than maintain interoperability with other blockchains.
Aion is effectively led by Matthew Spoke, who is the CEO of Nuco and a board member of EEA. He is fully supported and trusted upon by the team at Nuco. To solve these apparent problems with existing blockchains, Nuco aims to face these problems upright. It wants to provide solutions to these diverse problems hindering the blockchain adoption. The unique Aion network design known as Aion-1 acts as the economic model to provide complete compatibility, performance, privacy, security, scalability and fast communication.
Components of the Aion – 1 blockchain
Consensus – This will be used to implement the proposed architecture of connecting two or more blockchains.
a. Bride Consensus – This is a lightweight variation to reach consensus quickly on the bridge.
b. Connecting network consensus – which is a consensus protocol focused on providing stability at scale.
Aion Virtual Machine (AVM) – the AVM is responsible for running applications on top of Aion – 1.
Improved performance
Aion-1 provides fast transaction speeds and high data handling capacities, in contrast to other blockchains. This is possible by the high-performance virtual machine and a large database of Aion-1.
High level Customization
Aion provides control to the user over various operations like security protocols, privacy agreements, and business contracts. Large organizations may require multiple blockchains with different security protocols, governance properties, etc. All this while, maintaining security, high performance, and fast communication. Conventional chains are not designed to solve these problems. Aion provides the solution to these problems, bring the future ever closer
To know more about the project Visit:
Website : https://aion.netwok/
Whitepaper : https://aion.network/whitepapers.html.
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