What is Aion (AION)?
Future of AION Cryptocurrency and know how to buy AION

#1 – What is Aion?

Aion – The Basics

  1. Some of the basic problems with blockchains are scalability, interoperability and privacy. In order to promote the mainstream adoption of blockchains, it is important to have a platform that resolves these issues.
  2. Aion is the first multi-tier blockchain network that resolves these problems alongside developing a federated blockchain network.
  3. The Aion protocol enables the integration of dissimilar blockchain networks in its multi-tier model, much like the internet. The network supports varied blockchain architectures, providing cross-chain interoperability.

Aion Development

Mattew Spoke launched Nuco, the parent company of Aion, in 2016. The company’s CTO is Jin Tu, with 15 years of experience in enterprise engineering and blockchain management.

 

#2 – What are the benefits of Aion?

Aion Technology

  1. At the core of Aion’s technology is its third-generation blockchain, Aion-1. This blockchain system connects different blockchains in addition to managing its own functions. This network constitutes two key elements:
    1. - Consensus is an algorithm that implements the connection between two or more blockchains. It operates as Bridge Consensus for quick transactions and Connecting Network Consensus for stability.
    2. - Aion Virtual Machine (AVM) is an interpreter that works with the Java Virtual Machine to run the applications on the Aion-1 blockchain with strength and concurrency.
  2. Aion’s multi-tier network works as a protocol that enables communication between dissimilar systems. The network is comprised of various components that guarantee the interchain communication.
    1. - Connecting Networks: They function as a bridge protocol to route messages between varied blockchains and provide decentralized accountability.
    2. - Interchain Transaction: It is a trust-free message exchanged between blockchain systems. It allows a secure and convenient sharing of information on the multi-tier network.
    3. - Bridges: This is a protocol that connects the participating network to the connecting network to facilitate communication. They are responsible for approving the messages that come from interchain transactions.
    4. - Participating Networks: Any network that has successfully integrated with the connecting network makes a participating network. They can be blockchains, oracles, cryptlets, and more. They can customize the infrastructure components like algorithms, languages, and virtual machine among other things.

Corporate Usage

Aion boasts itself over many use cases for the corporate sector.

  1. Online Media Marketplace: With Aion, media participants have the facility to create, distribute and monetize content through a direct channel without no third parties. This is achieved through bridges connecting multiple blockchains with interoperability.
  2. Internet of Things: Developers and hardware-building companies can make their creations attuned with Aion’s decentralized ecosystem. They can communicate with multiple blockchains through its multi-tier network.
  3. Supply Chain Logistics: Aion facilitates streamlined supply chains for goods. It creates a more efficient and transparent system for companies that deal with transported goods.

 

#3 – How to buy and store AION?

How to buy AION

AION is available for purchase on exchanges like Binance, Liqui, Etherdelta, Kucoin, and Banquor Network.

  1. CoinSwitch, as the largest cryptocurrency conversion platform, offers you to exchange your cryptos for AION. You have the option to go through over 45,000 pairs of crypto exchange to choose your preferred one.
  2. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your AION cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

Storage

The AION coins can be stored in any ETH wallet like MyEtherWallet since they are ERC20 compliant. Other storage options include hardware wallets like Ledger Nano S and Trezor. Exodus and Jaxx are also the storage wallets for VIB.

 

#4 – What is the future of Aion?

Aion has a well-planned roadmap for the future, divided into three phases starting with 2018.

  1. Its first phase - Kilimanjaro has targets to be achieved in 2018. Aion plans to make its protocol fully compatible with the modified virtual machine. It will also introduce Aion Interchain-Token Bridge for enhanced interchain communication. It will develop a multi-chain framework, Aion Core and introduce features like Wire Protocol and Tx Pool.
  2. Phase 2 is Denali which will work on VM implementation and the development of the AVM architecture. It includes targets involving the Aion Scripting Language and Proof-of-Intelligence Consensus Algorithm.
  3. The third phase is Everest with its focus on the network infrastructure for Aion. It will look into the improvement of Aion applications for faster interchain communication. The consensus algorithm is planned to be launched in this phase.

Also Read: Complete Analysis of Aion | Live Aion (AION) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

July 01, 2018

0.978004

1.04

0.943954

1.03

2,131,780

163,797,000

June 01, 2018

2.09

2.11

2.01

2.06

2,273,300

312,382,000

May 01, 2018

3.70

3.79

3.46

3.79

8,445,370

492,774,000

Mar 01, 2018

2.77

3.21

2.71

3.09

5,253,550

266,493,000

Dec 01, 2017

1.71

1.74

1.50

1.55

953,008

-

Nov 01, 2017

0.509853

0.563373

0.497287

0.497287

10,755

-

 

#5 – How is Aion different from other cryptos?

There are several blockchain platforms like Aion that provide public and private blockchain services. Wanchain, Chain, Polkador, and Cosmos are some of the main competitors of Aion. In comparison to these platforms, Aion offers the following unique services:

  1. Aion-1 Blockchain network provides a secure platform for communication between two or more blockchains. Its network’s robustness and sustainability make it unique.
  2. It uses the bridge mechanism to connect blockchains and make interchain transactions. Interoperability is one of the most advantageous aspects of the Aion protocol.
  3. Consensus is Aion’s USP that offers both on-chain transactions and interchain communication.
  4. Aion’s scaling capabilities meet the needs of millions of users and remedy problems like interoperability and scalability.

 

#6 – Should you invest in Aion?

  1. Aion solves a number of problems faced in the operation of blockchains. It enables interchain communication using a number of state-of-the-art technologies. Its investment potential mainly rests in the changes that it is striving to bring in the blockchain system.
  2. Aion’s experienced team of developers and blockchain engineers along with advisors like Anthony Di Lorio, Jaxx co-founder and Eric Gu, founder of Metaverse have done good work with the whitepaper and the roadmap.
  3. Aion’s current circulating supply is 188,620,869 AION with a market cap of $15 million.
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