Aion – More Than Just Money Transfer
Aion (AION) is a cryptocurrency that was released in 2017 and is branded as a third generation blockchain network. First generation blockchain networks are cryptocurrencies like Bitcoin and Litecoin which facilitate transfer of money, but don’t have much else that is directly integrated into the blockchain. Second generation blockchain networks like Ethereum have a multitude of applications that are built directly into the blockchain, allowing decentralized transfer of data.
Aion is the first blockchain network that can be considered third generation; it has the ability to connect blockchains of various different cryptocurrencies and decentralized blockchain-based platforms, thus forming a global scale network. This is similar to how the internet connects many different types of programs into one network. Additionally, the concept of connecting different technologies with the internet has massively accelerated advancement in all aspects of science and society. This platform has the potential to be the internet of the decentralized blockchain-based world, and should greatly increase the interaction and evolution of crypto technologies.
The “Internet” of Decentralized Blockchains
Software applications can be developed on Aion, and these applications can be run across all the blockchains connected to this platform. A high performance virtual machine is built directly onto its network to increase the power and efficiency of applications. The platform’s token is used as the fuel to power these transactions; the more complex and resource intensive an application is, the more tokens it takes to run it.
These cross-crypto platform applications are going to be a key factor in bringing crypto technology to its full potential; via Aion, the information on each particular blockchain can easily interact in real-time. Interchain bridges is another major technology integrated into this platform, which allows for communication between blockchains. Atomic swaps can be done using these bridges, allowing for cryptocurrency trading without having to trust any third party exchange. This helps to increase decentralization of the cryptocurrency trading process. Establishing a bridge and sending data across the bridge requires fees. Additionally, tokens are rewarded to those who help secure and maintain the platform’s network via proof-of-stake (PoS).
$10 Million Daily Trading Volume
Currently each Aion token is worth $2.12, and with a circulating supply of 115 million coins, this yields a market cap of $244 million. This makes it currently the 50th highest cryptocurrency marketcap, and combined with trading volume of nearly $10 million per day, it indicates that this crypto is fairly popular.
Moreover, the coin’s price and usage is intimately linked to activity on its network since they are needed to run cross-chain applications and to build bridges between blockchains. Since this platform is incredibly innovative and has the potential to become the internet of the blockchain world, its tokens have intrinsic value and will likely become more valuable in the future as activity on its network increases. Thus, Aion tokens are a good coin to keep in your cryptocurrency portfolio.
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