Aion recently launched a new blockchain network. Blockchain will be a leading cutting edge technology that will increase rapidly in number.
Currently, there are over hundreds of Blockchain and in the forthcoming years, there will be a thousand more. Today Blockchain has become a mainstream and the most hyped technological advancement. Blockchain has a mass adoption by many mainstream businesses, in government, healthcare as well as in banking. Currently, Blockchain is not so much developed rather blockchain is now exactly like the 1980s PCs.
There’s a proposition that blockchains will federate data and value in a hub and will have a spoke model similar to the internet. The future of the mainstream blockchain adoption is supposed to be achieved by the development of a network, integrated federate blockchain and this integrated blockchain network is known as Aion.
AION is a third-gen blockchain network that will help any private or public sector organization to:
Federate: Send data and value between Ethereum and any Aion-compliant blockchain.
Scale: It will also provide fast transaction processing and increased data capacity to all Aion blockchains.
Spoke: You can also create a customized public or private blockchains to maintain interoperability with other blockchains and it will also allow publishers to choose governance, consensus mechanisms, issuance, and participation.
The root of the Aion network has a purpose-built, public, third-generation blockchain known Aion-1. Aion-1 is designed to connect other blockchains and manage its very own robust applications. Aion-1 is also going to provide the economic system that incentivizes interoperability in its ecosystem.
AION tokens act as fuels that are used to create new blockchains, monetize inter-chain bridges and also to secure the overall network.
AION is backed up by a company called Nuco this company, AION is the project and research that will move up to a non-profit organization. This step is going to make sure that the AION protocol will have a life of its own or without the success of Nuco- As stated by the people behind AION.
How can AION be helpful?
There are some problems that can be solved by AION like:
- Communication Across various Blockchains:This is the first problem that AION wants to counter. The dream team behind AION realized that there are a lot of problems and fragmentation in the space so the thing AION will be able to do to wonders in this area.
According to them, they have been observing the signals of demand in the blockchain space and are trying to stay ahead of the curve in order to meet the requirements in the next few years.
- This new public Blockchain will achieve mainstream scaling requirements:With AION you can achieve a better design and a good intent as far as scalability is concerned along with a decentralized network of many blockchains.
AION is going to turn itself into a full-fledged smart contract blockchain platform, not just bridge between new and existing blockchains.
- What is Proof of Intelligence:There is a new consensus mechanism embedded in AION called Proof of Intelligence- Proof of Intelligence adds a very important and an interesting function i.e., AI computation on the blockchain in the blockchain apps.