How does AION Cryptocurrency serve as the Bridge Between Blockchains?
Offering a unique blockchain platform of 3rd generation, the Aion crypto project is designed to enable interaction between numerous compatible blockchains, as well as the creation of blockchain apps with the help of their Virtual Machine. It boasts a highly scalable platform and a well-developed infrastructure that allows exchanging valuable assets between blockchains. In this Aion review, you’ll find out what makes this project and its currency outstanding.
What is Aion Coin about?
Aion is a blockchain platform that enables developers to create production-grade Java apps on a blockchain network.
The primary goal of Aion project is to make Blockchain technology accessible for everyone and accelerate its integration. The Aion Network is about transparency: the key feature for solving issues of privacy, security, and scalability.
The platform allows private organizations to:
Share data and values between any Aion-compatible blockchains and Ethereum.
Ensure faster operation processing and higher data capacity for all Aion blockchains.
Create public or private blockchains that support compatibility and the ability to work with other blockchains, while allowing publishers to choose management, consensus mechanisms, regulate output and participation.
What makes Aion stand out from the crowd is the Aion Virtual machine: the first blockchain virtual machine for Java developers in the world. Created on the top of Java Virtual Machine, it provides the whole gamut of tools for devs and makes blockchain programming way more available.
The protocol network is based on the specially developed third-generation public blockchain Aion-1. Designed to link other blockchains and manage its own trusted applications, Aion-1 also provides an economic system that promotes interoperability in the ecosystem.
Here’s the full Aion coin review that will explain you the principles of the underlying network:
Aion is a community-based project based on a world-class development team and supported by strategic partners and consultants who provide ten years of experience.
Matthew Spoke, Executive Director is one of the key people in the company. He has more than 4 years of experience exclusively in the blockchain sphere being one of directors in the Enterprise Ethereum Alliance. He is co-founder and CEO of Nuco, an infrastructure block provider, and is a Blockchain project leader for Deloitte Canada.
Aion has support from various advisors: Vitalik Buterin, Alex Tapscott, Michael Tang, Scott Robinson, Dennis Bennie.
Aion (AION) value
AION coin is the “fuel” used for the creation of new blockchains, monetizing bridges between chains, and for network protection in general. The purpose of the coin is to enable users to access the entire functionality of the network.
Aion ICO started 10 October 2017: back then, 1 AION was worth $1. It ended 24 November 2017 with the $20 mln fundraising goal achieved. Aion cryptocurrency was first listed on exchanges on 18 October 2019 with 1 AION = $0.61.
AION coin price: $0,078514
AION coin market cap: $26 393 782
Circulating supply: 336 165 810 AION
All-time low: $0,069731 (Aug 15, 2019)
All-time high: $11,51 (Jan 07, 2018)
It should be noted that AION has enormous potential. Creators have already established interaction between blockchains and some existing platforms. Besides, their virtual machine supports EVM code: the system offers various construction tools. In 2019, Aion will optimize the infrastructure to leverage fast interaction and data exchange.
Learn more about AION value and what the project is about on BitcoinWiki.org.
Aion (AION) blockchain review
The Aion-1 blockchain is a genesis implementation of a connected network. It is designed as fair, distributed, open blockchain architecture, capable of fulfilling the requirements specified in a multi-level network blockchain architecture. According to the whitepaper, Aion-1 as an open blockchain was developed for the following purposes:
Connect blockchains and external services (for instance, database) via their network and provide communication supported through a decentralized network.
Provide the necessary technology for the development of highly efficient, decentralized, inter-block applications.
Create a supported network using a robust and sustainable economic model.
With the help of routing architecture, users will be able to add adjacent networks meeting their demands and communicate with other networks. Anyone is free to participate. In the future, dApps will be able to be at the top of the connecting mainnet with logic based on the integration of data from multiple blockchain networks.
In addition, developers have equipped the Aion-1 blockchain with a fully functioning economic system designed to provide uninterrupted service and network integrity.
Aion implements an advanced consensus mechanism: hybrid staking and proof-of-intelligence protocol. That means that the candidates with the highest set of backers are chosen as validators for a specific term.
Since Aion is an open-source project, its code can be found on Github.
Can you mine AION?
Yes. AION has equihash mining algorithm. Miners are free to use https://aionpool.tech/ mining pool to get the coin. Both CPU and GPU AION coin mining options are available (Nvidia graphic cards are recommended).
Aion (AION) roadmap
AION team has already done a serious work: goals of Stages 1 and 2 were achieved in 2017 and 2018 correspondingly – just as stated in the roadmap.
During Stage 1, the focus is put on interchannel communications and bridge infrastructure.
The stage will include:
Modified, high-performance EVM
Functioning bridging and interconnection
Development of the modified consistent proof-of-work algorithm
During stage 2, the protocol release plan aims to move from our modified EVM architecture to the proposed AVM architecture.
The development priorities for this phase are as follows:
Aion virtual machine
Ayon scripting language
Continued support of the codebase inherited from EVM
Currently, AION team works on Stage 3. The third phase completes the projections of network infrastructure, providing the infrastructure for fast, efficient inter-chain communication and inter-chain applications. In addition to the inter-chain functions from stage 1 and the implementation of VM from stage 2. On stage 3, Aion team will present the representative consensus, including the future representative consensus algorithm.
AION latest news
Users can regularly see Aion cryptocurrency news about technological advances and system updates. That means the team is working tight-lipped about the project. In June 2019, Aion team proudly announced the launch the first blockchain virtual machine on Java.
Aion continues boosting scalability and versatility of its platform. For example, Aion’s AVM has recently been improved to enable creation of Android-based dApps:
Aion (AION) Wallets
How to store AION? There’s a number of crypto wallet options available for users:
AION Wallet Ledger (Ledger Nano S) and Trezor are hardware wallets used for cold storage of crypto;
AION Wallet Desktop – the official cryptocurrency wallet that can be downloaded and installed on user’ PC;
AION Trust Wallet;
Where to trade Aion (AION)?
AION is listed on a number of exchanges, so the total daily trading volume is around $1 925 911. If you want to buy AION with a credit card, Coinwitch is the only exchange that supports this function (it has over 300 AION pairs).
Other exchanges also offer a huge number of trading pairs with AION, so selling and buying is not a problem. IDEX platform allows you to trade AION and other ERC-20 tokens, even unpopular ones.
Buy Aion (AION) at Changelly
If you need to buy AION cryptocurrency with a bank card quickly, feel free to use Changelly exchange platform. Here, you can trade AION coin for hundreds of other tokens in a few clicks – minimal authentication details are required.
[add-changelly-widget from=btc to=aion]
Today we have hundreds of blockchains, and their number continues growing. We need now is a way to link blocks to another, and Aion gives us such an opportunity. This project can serve as the bridge between thousands of Ethereum blockchain projects – that’s its main value.
Is AION coin a worthy investment? From a trading point of view, it might be a great long-term investment: don’t expect to play shorts, AION won’t grow considerably in the nearest future. However, in a few years, those who invest in AION will probably reap generous profits.
Aion developers continue improving their project and chasing perfection. They have serious competitors (Blocknet, ARK, Polkadot, Cosmos, ICON, Wanchain), and will do their best to reach the leading position in the industry. With serious financial support and help of their famous advisors, Aion has bright perspectives ahead.
Disclaimer: This article about Aion (AION) should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.