What is Aeron (ARN)?
Future of ARN Cryptocurrency and know how to buy ARN

#1 What is Aeron?

Aviation is one of the key means of transport that not only connects countries but also nourishes international businesses that are directly or indirectly connected. Maintaining aviation safety is therefore critical in for national economies. A lot of manual and computational power is invested in order to accurately establish the criteria of aviation safety. However, what if this entire system gets an overlay of the blockchain? Will it be more secure? The future might be redefined by Aeron.

Aeron: The basics

  1. According to its whitepaper, Aeron aims to be the new standard of aviation safety powered by the blockchain. Maintained by a group of aviation professionals, Aeron wants to reduce air transport-related accidents, which it says currently numbers around 3302 per year.
  2. One of the major causes of such accidents is the lack of real experience among pilots, since unsecured flight log data from them is susceptible to fraud and forgery. Also, due to "pay to fly" experiences, corrupt flight schools, negligence of aircraft operators, the primary data driving any decision is affected.
  3. In short, whatever the background, aviation data and related records are compromised. This in turn causes an increase in yearly flight-related accidents. In a bid to improve the situation, Aeron has taken help from blockchain technology to enforce data security and provide a new layer of support to maintenance and safety.
  4. The company has appointed Mr. Artem Orange as their chief executive officer who has 15 years of experience in telecoms and finance. Previously, he was the ex-CEO of two national cellular operators and a serial entrepreneur in hi-tech industries.
  5. As the Chief Technology Officer, the company has Nadezda Barkanova who is also a pilot and an aircraft operation and air traffic management engineer with over 11 years of experience.

 

#2 What are the benefits of Aeron?

  1. Aeron is built upon a robust and cryptographically secure database that makes it unique compared to other online travel companies, travel search services or internal applications made for flight officials. With this technology, falsification of data can be kept at a minimum.
  2. Additionally, as you would expect from a blockchain-backed application, key information is safely stored and is accessible to everyone with 100% transparency. Except that it now comes secured by a multi-sig authentication system that prevents any type of security breach.
  3. According to Aeron's Whitepaper, "The pilot’s application is used by a pilot for personal flight logging. The company application collects and verifies data from aircraft operators, maintenance organizations, flight schools and fixed base operators".If the data is not matched or discrepancy in information is noticed between any Aeron data source with either the Air Traffic Control, pilot, or operator panels, aviation authorities can remove the problem with minimal detection time. Aviation authorities can also detect any pilots operating with an expired license.

There are a total of three available user interfaces - the Pilot Application, Company Application and Passenger Use Case. Here’s how the work

Pilot App workflow according to the whitepaper

  1. The pilot opens the mobile application (iOS or Android) and selects the “new flight” option.
  2. He then selects the aircraft, enters the FROM and TO airfield codes and his OUT time.
  3. The app then tracks the location during flight and records its track.
  4. Once the flight is completed, the IN time is recorded, and the pilot is given choices of FBO (Fixed Base Operator) services at his destination airfield. The app also highlights the featured or discounted services available, which he can purchase right from the app.
  5. The flight data is then submitted to the blockchain, after which its status can be observed, validated against the Aircraft’s operator log and ATC (Air Traffic Control) data (once the automated ATC data processing with Data Hub is set up).
  6. Historical records are made available to the pilot for his review, analysis and statistical summaries.

Company app workflow according to the whitepaper

  1. A company employee opens the mobile application (iOS or Android) and retrieves data on the completed flight from the servers (sourced from the Pilot App)
  2. He can then add critical information on parameters such oil, refueling, and remarks on the technical condition of the Aircraft
  3. The user then assigns a task to a technical specialist or maintenance organization for the aircraft’s servicing needs. He can also manage the aircraft’s bookings from right within the app.
  4. Additional information - such as add-on services can also be provided. These pilots can order them via their app.
  5. After the flight data is submitted to the blockchain, its status can be viewed and operated upon, similar to as in the pilot app.
  6. Historical records are available to the company for review, analysis, and statistic summaries.

Passenger app workflow according to the whitepaper

  1. A passenger accesses the portal at aerotrips.com and retrieves demo flight options around his preferred location.
  2. This highlights offers from local flight schools and private pilots on a map for his viewing. Pilots who have flight logs validated with Aeron’s solution are highlighted (with a trust icon).
  3. The passenger then selects the best offers (based on flight time, cost, etc) and completes his booking, which can be paid using fiat or cryptocurrencies.. A booking confirmation follows.
  4. Post a flight’s journey completion, the passenger can submit a report and feedback to the team.
  5. As with all the other apps, the flight data is validated against logs submitted by the pilot and the pilot’s experience on web portal is updated.

The Aeron whitepaper also claims that since the National aviation authorities have no universal mechanism to control pilot logs electronically, they are forced to maintain their own rules of keeping flight logs. Due to a lack of a unified storage system, this offers a substandard experience.

Built on Ethereum blockchain technology, Aeron provides a comprehensive ecosystem for pilots, technicians and passengers alike. This is a true “airline in a pocket” setup which also has its own utility token called Aeron (ARN).

 

#3 How to buy and store Aeron?

  1. Aeron (ARN) is an ERC20 compliant Ethereum based token, with a fixed supply of 20,000,000 ARN. When the token was launched, a fixed amount of tokens were created and after which no more tokens are to be minted. About 60% of the supply is estimated to be in circulation.
  2. The supply should decrease over time when ARN tokens as taken out of circulation. Once Aeron receives ARN tokens in exchange of services, the coins will be again released in to the network.

How to buy ARN?

  1. ARN is available in most of the major exchange platforms such as Binance, Tidex, HitBTC, Coinrail, KuCoin, bitpaction. To buy Aeron (ARN) tokens, a user needs to complete the transaction using one of its available pairings - which include BTC and ETH.
  2. CoinSwitch, as the largest cryptocurrency conversion platform, allows users to exchange their cryptos for Aeron across all portals at one place.. You have the option to go through over 45,000 pairs of crypto exchange to choose your preferred one.
  3. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your ARN cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

How to store ARN?

  1. Instant exchanges and multi-asset wallets are available for ARN on a multitude of platforms including Atomic wallet, Exodus, Myetherwallet, and more.
  2. If you are interested in buying ARN, an Ethereum wallet work perfectly for storage. You can buy or sell ARN via CoinSwitch platform which also works as an aggregator and offers you the highest value for your cryptos. According to Coinswitch.co, "MyEtherWallet is the safest digital wallet to store Aeron crypto coins."

 

#4 What is the future of Aeron?

Also Read: Complete Analysis of Aeron | Live Aeron (ARN) Price Charts And Predictions

  1. According to its whitepaper, Aeron plans to have a user base of 300000 by the end of 2020. This would encourage it to embed new features on its platform.
  2. With the help of multi-app functionality and block technology, the company envisions to have an “airline in the pocket” of sorts within two years.
  3. While its price has fluctuated like most other cryptocurrencies, it delivered more than 15x returns within a short period between November 2017 to January 2018. As of July 2018, the price is nearly back to its November levels, at $0.57.

Date

Open

High

Low

Close

Volume

Marketcap

Jul 13, 2018

0.573173

0.597819

0.570090

0.581613

8,913,760

7,451,250

Mar 13, 2018

1.64

1.74

1.58

1.60

1,051,390

21,370,300

Jan 13, 2018

4.70

4.96

3.90

4.29

13,094,400

61,036,700

Dec 13, 2017

0.318632

0.329383

0.268165

0.293513

1,795,730

3,760,950

Nov 13, 2017

0.308690

0.457266

0.308690

0.436800

309,224

3,530,730

 

#5 How is Aeron different from other cryptos?

  1. Aeron has a well-documented 5-year roadmap that allocates forty percent of its budget to research and development.
  2. It wishes to unify pilots, flight schools, aviation authority and passengers via a single application based platform to enforce transparency and security.
  3. Aeron uses the blockchain to safeguard its database with multi-sig functionality - something many major coins currently do not employ.

 

#6 Should you invest in Aeron?

  1. Aeron is not limited to only one country, and possesses an opportunity for global growth if all goes well.
  2. Aeron aims to capture 1% of its target market by 2018 and 10% by 2020, with a long goal to capture a lump sum of revenues just under $24m by 2020. If the growth rate is maintained, it is likely to prosper over the time without any major red flag.
  3. The company seems to have an ambitious aim of bringing large transportation mechanisms under the one single roof. If it can achieve what it aims to, it may just be the Uber of commercial flight services, on a blockchain.
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