Aion

What is Aion?

Aion Network is a platform for building decentralized applications that was created in the fall of 2017 by Nuco, a team of former Deloitte executives. Its’ third-generation blockchain Aion-1 aims to manage robust applications and provide communication between separate blockchains.

Federate, Scale, Spoke

The main idea behind this platform is to solve the issue of limited operability between existing blockchains. Aion’s bridging mechanism allows an organization to send data and value between any AION-compliant public ledger and Ethereum, so that applications can operate across multiple chains. A high-performance virtual machine handles execution and adaptability while enabling fast transaction processing and increased data capacity, thus addressing scalability and performance. At the same time, the publishers are free to choose types of governance, consensus mechanisms, issuance, and participation.

Here & There

As it stands, the Aion-1 token, which is at the heart of the technology, is first offered as an ERC-20 token on the Ethereum blockchain, and only then it can be changed to the official Aion Network token. But investors are not required to change their Aion Ethereum token for the Aion-1 token, as they will be interchangeable in the Future. Additionally, the consensus algorithm in Aion-1 is a hybrid and allows both backing by staking, which is similar to Proof of Stake (PoS), and backing by solving, in which the computing power put into solving the puzzle is leveraged for actual utility. The latter is similar to Proof-of-Work (PoW) and is done with the Proof of Intelligence algorithm, created with the goal of promoting the development of machine learning specialized hardware.

Where to store Aion?

Providing interoperability is the revolutionary feature that drives this platform and token. There is a number of cryptocurrency wallets around that allow you to keep and manage Aion. Whether you are a security expert or a brand new user, with our Magnum Wallet you can send, receive, store and trade your Aion tokens.

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