Topic: AION Mainnet Launch - page 10. (Read 3595 times)
For those who haven't seen it yet, really great interview with Matt earlier this week that takes a very deep dive
https://youtu.be/hF0xJ3InFPY
Aion Foundation Launches
The Aion network is excited to announce the formal transition of its operations from Nuco Global, the original corporate entity that gave rise to Aion, to the Aion Foundation — a non-profit foundation — the focus of which will be to advance research, development, and community building activities related to the Aion protocol.
In short, Aion will now be guided by the Aion Foundation.
This is an important moment for all of us at Aion. As indicated during the AION token sale in October 2017, for Aion to truly and fully represent the interests of the community, and to create an open and inclusive ecosystem, a restructuring from a corporate model to a non-profit foundation model would be essential.
This week, the shareholders of Nuco Global’s parent approved a corporate restructuring that results in the transfer of all IP and assets of Nuco Global to the Aion Foundation. All of the approximately 153 million tokens (over 3-year TRS) that were earmarked for ongoing operations will be transferred to the Aion Foundation*, which will also manage all proceeds from the AION token sale. In exchange, the remaining AION tokens owned by Nuco Global** will be transferred to these shareholders over 28 months, based on their ownership percentage in the Nuco corporate entities.
This restructuring will allow for the launch of new strategic Aion ecosystem initiatives, including many new 3rd party companies and products; some of which have already started and will be announced in the coming months.
Later this year, we will be also publishing a more thorough description of the Foundation’s governance, operating structure and procedures. In addition, we look forward to kicking off our voluntary quarterly reporting process later in 2018.
We look forward to further discussions about our new governance model, and we hope to set a leading example for the rest of the industry to follow.
* Aion Foundation public key: 0x0e24D8Fcdf0c319dF03998Cc53F4FBA035D9a4f9
** Nuco Global public key: 0xb493c9C0C0aBfd9847baB53231774f13BF882eE9
The Aion network is excited to announce the formal transition of its operations from Nuco Global, the original corporate entity that gave rise to Aion, to the Aion Foundation — a non-profit foundation — the focus of which will be to advance research, development, and community building activities related to the Aion protocol.
In short, Aion will now be guided by the Aion Foundation.
This is an important moment for all of us at Aion. As indicated during the AION token sale in October 2017, for Aion to truly and fully represent the interests of the community, and to create an open and inclusive ecosystem, a restructuring from a corporate model to a non-profit foundation model would be essential.
This week, the shareholders of Nuco Global’s parent approved a corporate restructuring that results in the transfer of all IP and assets of Nuco Global to the Aion Foundation. All of the approximately 153 million tokens (over 3-year TRS) that were earmarked for ongoing operations will be transferred to the Aion Foundation*, which will also manage all proceeds from the AION token sale. In exchange, the remaining AION tokens owned by Nuco Global** will be transferred to these shareholders over 28 months, based on their ownership percentage in the Nuco corporate entities.
This restructuring will allow for the launch of new strategic Aion ecosystem initiatives, including many new 3rd party companies and products; some of which have already started and will be announced in the coming months.
Later this year, we will be also publishing a more thorough description of the Foundation’s governance, operating structure and procedures. In addition, we look forward to kicking off our voluntary quarterly reporting process later in 2018.
We look forward to further discussions about our new governance model, and we hope to set a leading example for the rest of the industry to follow.
* Aion Foundation public key: 0x0e24D8Fcdf0c319dF03998Cc53F4FBA035D9a4f9
** Nuco Global public key: 0xb493c9C0C0aBfd9847baB53231774f13BF882eE9
I'm super confident that we're going to rock the next 6 months. Aion has been primarily focusing on it's technical development road map and Matt Spoke speaking road show to conference around the world. The next phase Q4 will include similar high profile speaking engagements with added marketing/PR support, more voices within the foundation active, more dev friendly support and dev evangelism, more content (graphics, video, live streaming) and my community focus is to do more mobilizing the community through more strategic initiatives.
Aion update:
http://www.globenewswire.com/news-release/2018/07/12/1536715/0/en/VeriTransfer-Unveils-the-First-Known-Proof-of-Concept-for-a-Blockchain-Enabled-Firearms-Licence-Verification-and-Ownership-Transfer.html?culture=en-us
https://coinjournal.net/aion-a-vision-for-a-democratized-internet
https://medium.com/@naka.lqk/aions-hash-power-and-the-substantial-mining-profitability-on-the-aion-network-6e89304f80ec
https://medium.com/@j.p.dipasquale/eye-on-the-supply-aions-token-distribution-analyzed-9375a7f0469c
https://medium.com/@northernblockca/developing-an-erc20-token-on-aion-b11244fa552a
http://www.globenewswire.com/news-release/2018/07/12/1536715/0/en/VeriTransfer-Unveils-the-First-Known-Proof-of-Concept-for-a-Blockchain-Enabled-Firearms-Licence-Verification-and-Ownership-Transfer.html?culture=en-us
https://coinjournal.net/aion-a-vision-for-a-democratized-internet
https://medium.com/@naka.lqk/aions-hash-power-and-the-substantial-mining-profitability-on-the-aion-network-6e89304f80ec
https://medium.com/@j.p.dipasquale/eye-on-the-supply-aions-token-distribution-analyzed-9375a7f0469c
https://medium.com/@northernblockca/developing-an-erc20-token-on-aion-b11244fa552a
Aion is first & foremost a Dapp platform with a VM like ETH & NEO, but much more scallable & Interoperable since Aion is all these 3 things at same time:
1. Dapp platform with it own VM (Like Ethereum & NEO)
2. Router that interconnects heterogeneous networks
3. Framework for Spoke chains that can scale infinitely to achieve Unlimited TPS
Cosmos is first & foremost a second layer interoperability middleware between blockchains but has no VM and cannot host its own Dapps. Dapps can only be hosted in the those blockchains aka zones that are connected by Cosmos, which is far more complicated that building Dapps on the main chain as in Ethereum & Aion.
OneLedger tries to justify not having a mainchain with VM because: "Unlike Aion, OneLedger’s focus is not to be the master chain but to interact with others", which makes OneLedger just another interoperability middleware (which btw still just vaporware atm)
The point of having the Aion-1 mainchain with a Virtual Machine (AVM) is because it gives Aion 2 major advantages over other interoperability projects:
1. Instant Finality: The Aion-1 VM has parallel transaction processing to make sure Aion-1 doesn't become a bottleneck for performance while routing transactions between blockchains since they have different confirmation times.
2. Interoperable Dapps: The Aion-1 VM can host Dapps that read & trigger logic between different blockchains:
. IF THIS happens on blockchain A
. THEN THAT should happen on blockchain B
Aion’s Cross-chain bridges allow Dapps to use multiple Aion spoke chains to run their portions that require high throughput, then simply signal the final results back to original chain.
The main Aion blockchain tested during Testnet at 100 TPS, however Aion cross-chain interoperability allows the Aion network as a whole to process Unlimited TPS via spoke chains.
You can use 1 Million Aion spoke chains operated in parallel by same or different validators to produce a throughput of 100 Million TPS for example, since each handles 100tps according to Testnet results. There is no limit to how many Spoke chains you can use.
for Aion peeps that is into mining. This is a good read.
https://medium.com/@naka.lqk/aions-hash-power-and-the-substantial-mining-profitability-on-the-aion-network-6e89304f80ec
https://medium.com/@naka.lqk/aions-hash-power-and-the-substantial-mining-profitability-on-the-aion-network-6e89304f80ec
Blockchain Developers, please take 5 minutes to fill out our dev insights survey. Your feedback will help the #AionNetwork team #buidl things that you want. In exchange, we're giving away a chance to win Amazon Gift Cards
https://aionnetwork.typeform.com/to/vVJIB1
https://aionnetwork.typeform.com/to/vVJIB1
AION had a very good rise. I think the mainnet started a downward trend with profit sales to the end.
short-term trade offers a viable environment.
short-term trade offers a viable environment.
Agree! AION is one of the best altcoin now, the team of AION is very active, specially the CEO of AION project. AION is really a good for long term position, let's hope the project of AION will grow bigger and bigger.
Matthew Spoke, Founder, AION Network
Aion Network: The Third Generation Blockchain
Founder of the Aion Network explains how his organization is working to enable mainstream adoption of blockchain technology at mass scale.
Having spent more five years working exclusively in the blockchain space, Matthew Spoke has committed his professional career to seeing this technology achieve its potential within enterprise markets.
Today, Matthew serves as the Founder of the AION Network, a multi-tier blockchain system designed to address the challenges of earlier generations of the technology to facilitate mainstream adoption. He is also a Board Member of the Enterprise Ethereum Alliance, a Fintech Advisor to the Ontario Securities Commission, and a Founding Steward of The Muskoka Group.
Yu Numazaki and I met up with Matthew at the Beyond Blocks summit held in Tokyo in early April and took the opportunity to ask him about the Aion Network.
From left-to-right: Dylan Robertson, Mathew Spoke, Yu Numazaki
How did you get into blockchain?
In 2014 I was working at Deloitte as a chartered accountant. For the fun of it, I wrote a research paper around bitcoin and its implications for the accounting profession. The thesis was claiming that bitcoin could lead to the irrelevance of auditors as a result of it being an entirely transparent financial system.
The paper was well-received, and I got funded to build an R&D team for the next two years. So I started and ran a team at Deloitte until the beginning of 2016. Then I left to start my company, Nuco with a focus on developing enterprise infrastructure.
We were building a private implementation of the Ethereum protocol on how to do private networks and enable private consensus among smaller groups of participants.
We helped launch and found the Enterprise Ethereum Alliance. I still serve on the board of directors. The alliance realized that one of the challenges in the enterprise market is that we were building isolated systems in different protocols in different languages.
Some people were building Hyperledger, Ethereum, CUDA, and other solutions. Also there were the public networks getting established. However, nobody was talking about how to connect them and allow for a transition that takes place on one network to be visible to a transition on another network.
What is the Aion Network?
We’re building a new public blockchain protocol that has the characteristics of a decentralized operating system. Our overall objective is to facilitate a relatively liquid flow of proofs, data, and value between chains. Functionality-wise it’s like Ethereum with optimizations for scale and performance.
Sitting around our network is a series of communication systems called bridges that allow us to verify transactions on other networks. These are decentralized pools of nodes that can observe events happening on other chains and then pull them in. So, they could execute logic from events on other chains.
What is the status of this technology adoption among enterprises?
To date, the enterprise market take-up has been slow, mostly because this infrastructure still needs a lot more time to mature. Today’s blockchain systems are nowhere near meeting all the various requirements of enterprise users.
As a result, we decided to step away from all of our customer-facing work, shut down that side of our business, and started focusing on the one layer of infrastructure that’s still lacking. It all came down to performance, scale, and connecting blockchains to each other. So we built a roadmap around that.
Now we’re starting with a focus on public networks where there’s significantly more pickup. This is where we can begin to show valuable evidence of our designs’ merits. Eventually, we see the Aion Network becoming a standard infrastructure that allows private and public networks to communicate with each other across the same protocol.
What is the relationship between Nuco and the Aion Network?
We’re restructuring our operation into a non-profit foundation. This means we’re unwinding our business, the company is getting scrapped, and all resources and operations will move into a foundation. Moving forward, there will be no product, revenue stream, or profit behind the Aion Network.
It will have some similarities to the Linux Foundation’s structure; a non-profit research and development organization. However, it will differ from Linux in that there’s an economic layer on top of these systems. We’ll still make money but in a nontraditional sense. As we prove the merit of our technology, the value of our ecosystem will grow.
We funded the foundation when we launched. We’re now in the process of legally establishing it. We’ve been analyzing different jurisdiction options for the last several months because we want to make sure we account for the implications downstream. We’ve been taking our time to talk to the legal teams at projects that have been active for a few years in different jurisdictions to hear the pros and cons. We’re getting close to a conclusion, but we still have a few jurisdictions on our shortlist that we need to study further.
How is your roadmap progressing?
We’re preparing to re-launch with a different brand and will shift our message away from the crypto market towards the mainstream market. We want to begin educating mainstream people as to why this is relevant to them.
We’ve laid out a roadmap that’s about two years. We’re at our first release right now and are about a month away from our primary net going out. It’s been in public test net since late January. So there has been a couple of months of working with the community on bug fixing and getting stability in the network.
We’re aiming to get version one of the public network published in early May. Following that will be the first bridge that we built between the Aion and Ethereum networks so that we can start moving elements of value and logic between them.
Following that will be a series of other bridges that we’ll build depending on priority; essentially the sizes of the networks that we’re connecting to. And then we’ve got a roadmap for improving the structure and robustness of our blockchain as well as the bridges we’re building between blockchains.
What is the status of your coin?
We’ll be using the proceeds from our ICO to get the next phase of the project started. We’ll have a supply of our own currency in our treasury for the foundation. As we work through those proceeds, the value of our own coin will determine whether or not it’s feasible to continue.
If the project does well, the coin’s value will go up to such an extent that, in theory, we could never run out of money, and so we could continue indefinitely. Conversely, if it goes badly, we’ll run out of money because it’s not getting picked up, nobody is using our system, and so it doesn’t deserve to continue to be funded.
So we’ve tied the future funding of the foundation to the success of our ecosystem, which indirectly gets reflected in the price of our coin.
What is happening in the interoperability space?
Interoperability has been a hot topic since late 2017. There’s so much activity that I can’t seem to go a month without hearing about a new project.
We keep in mind that the end goal should be collaboration for that end purpose, not competing. We launched the blockchain interoperability alliance with ICON and Wanchain so that we could do knowledge sharing and understand each other’s engineering approaches and roadmaps. This way, we can hopefully help each other accelerate. We’ve also met people from Ark and aelf.
We all stand to benefit if we get to the market faster. Rather than reinventing each other’s issues we should focus on learning from each other and then contributing something new.
Furthermore, we don’t categorize ourselves as a project focusing exclusively on interoperability as many projects do. Interoperability is one layer of a fully scalable operating system on a blockchain.
How are you positioned relative to Polkadot and Cosmos?
Cosmos and Polkadot both have solid reputations and long histories in the industry. However, their approach is slightly different to Aion.
Cosmos has been working on their Cosmos hub and what they call “zones,” which carry specific characteristics of the hub. They have a compatibility requirement for their zones to run a similar consensus algorithm to be able to integrate into the hub. If that blockchain is not compatible with the hub, then there’s a layer that needs to get built between the blockchain and the hub. They have something called the peg zone which connects to Ethereum. It has to mimic the Ethereum network but in a compatible way to Cosmos.
There’re also the early use cases that are focusing on coins getting locked and re-minted on different sides. So lots of interesting use cases for that, for why you’d want to lock a coin on one side and re-mint it on the other for ease of trade. But it’s quite focused on the crypto asset market.
Polkadot is a little more generic and aligned with us concerning architecture. They’re working on something called the Relay Chain and Parachains. Similar to Cosmos they have a requirement of how these parachains would be compatible with their Relay. Their bridge design is impressive, and we’ve learned a lot from looking at it.
One of the areas that we’ve differed in our philosophy is that if you’re a Parachain inside the Polkadot ecosystem, then you have to adopt specific security parameters dictated by the Relay, which becomes the arbiter of how security gets governed on different networks inside that ecosystem.
In contrast, at Aion, we’re trying to make sure that there’s little to no requirement on the chain we’re connecting to. In this way, the chain doesn’t have to adjust, fork, or update its protocol to become compatible with ours. That’s the first difference.
The second difference is on top of our equivalent of a Relay, we’re building a fully operating virtual machine ecosystem on that relay. This means we can run DApps (decentralized applications) from that hub and those DApps can start to pull bits and pieces of logic from other networks that are connected to it. So, rather than just being a router of messages, it’s also the place where you can build an application.
We don’t look at anybody as a competitor because our real opportunity is taking this to the rest of the world. There’s tons of space for all of us to push forward with our individual hypothesis on how we should build these systems. And we’re making open-source systems. We’re all learning from each other as we go and there’s a high degree of mutual respect.
What’s the number one challenge you’re facing?
Our biggest challenge is trying to grow the awareness in general. There’s a lot of people that we have to reach for the first time. We’ve done a reasonable job at getting the people who follow us actively to understand what we’re trying to accomplish. One thing in this market that we want to clarify is how we’re building our organization away from a for-profit corporate structure.
We realized that there are different motivations for shareholders and coin-holders. If you have a corporate structure that includes shareholders and a coin that includes coin-holders, then you’ll probably run into conflicts where you have to benefit one to the detriment of the other.
That is a conflict we don’t want to face. It’s going to become a significant governance issue in this market in the next few years where shareholders of companies will have certain motivations, and the coin-holders will have others.
Unfortunately, coin-holders don’t come with voting rights and shareholders do, and you may find coin-holders getting screwed over in restructurings, acquisitions, and bankruptcy proceedings as this market mature. We wanted to clean that up by making sure we only had a single group of stakeholders; the people who follow our project, actively use our technology and hold our coin.
That’s probably one thing that we’re trying to better articulate. This is not a company. We’re not selling services or products. This is a collaborative community initiative that we hope will get as much adoption as possible.
If all goes well, how will things look ten years from now?
A decade from now average people that use this technology will probably not understand the protocols that underpin it nor will they need to. There will be a whole bunch of protocols that interact with each other in a straightforward, elegant, and seamless way.
The types of applications and user experiences we can unlock on top of that are simple, obvious, and not complicated for consumers. We won’t be talking about interchain communication, wallets, and exchanges the same way we do today. It will have been obfuscated to the end user, and hopefully, Aion is a core part of that final design.
Where should technologists go if they want to get started with the Aion Network today?
Our GitHub is the best place to see what we’re building and read the documentation we’ve published. We have a forum where you can interact with our engineering team.
Also, our website has our whitepaper, and we’ve got a blog where we publish updates on what we’re working on.
We’re planning to put out structures whereby people can get involved in research, and we’ll have grant program and bounty programs so that contributors can earn some money by supporting us. There’ll be more coming on that in the next few months.
Why did you decide to visit Japan?
Meeting with Japanese supporters of the Aion Network project.
We’re doing a pretty significant global tour this year, focused on developer adoption, having people build stuff on top of the Aion protocol, and general market awareness.
We’ve been going to developer meetups, getting communities testing ideas on top of the Aion protocol, building apps, and business involved in the blockchain. In particular, we want Aion to be used in a widely known project.
There’s a lot of activity going in Japan. There are some exciting businesses building blockchain-based applications here. We’re hoping to find a Japanese project to work with to demonstrate some of the characteristics of what we’ve built.
Hopefully, we can give people the right reasons for following the project. In Japan, that means spending time educating people about our differentiating factors.
It’s easy to get labeled as just another crypto. So we’re trying to make sure that our message is focused on the uniqueness of our design and the sophistication of our software. Then, hopefully, people see value in that and want to get involved somehow.
What has been the general consensus among people who invested in your ICO?
We haven’t heard anything negative about people’s experiences on that front. Generally, people have been pretty happy supporting the project so far. We designed our economic structure somewhat uniquely when we launched it that has been advantageous to people as we develop more, as they contribute more.
We get a little criticism for not having emphasized exchange listings and wallet integrations. We don’t have anybody on the team whose job it is to focus on the financial market side. To date, we’ve just let it happen organically, and we intend to continue doing so.
Unfortunately, this means that we’re not doing things as quickly as some people would like. However, from our priorities, it’s happening as it should because the team is focused on development. The engineering team is focused on building, and the community team is focused on engaging with developers. That means we don’t spend anywhere near as much time as some other projects talking about the value of our coin or the markets we’re listed on. We stay away from that.
What direction will your career take long-term?
I’ve had the pleasure of working closely with some of the world’s foremost leaders in the blockchain field, and look forward to playing a part in the continued development of this technology in the decades to come.
To learn more about the Aion Network, please visit their website, GitHub, Twitter, or YouTube channel.
Aion Network: The Third Generation Blockchain
Founder of the Aion Network explains how his organization is working to enable mainstream adoption of blockchain technology at mass scale.
Having spent more five years working exclusively in the blockchain space, Matthew Spoke has committed his professional career to seeing this technology achieve its potential within enterprise markets.
Today, Matthew serves as the Founder of the AION Network, a multi-tier blockchain system designed to address the challenges of earlier generations of the technology to facilitate mainstream adoption. He is also a Board Member of the Enterprise Ethereum Alliance, a Fintech Advisor to the Ontario Securities Commission, and a Founding Steward of The Muskoka Group.
Yu Numazaki and I met up with Matthew at the Beyond Blocks summit held in Tokyo in early April and took the opportunity to ask him about the Aion Network.
From left-to-right: Dylan Robertson, Mathew Spoke, Yu Numazaki
How did you get into blockchain?
In 2014 I was working at Deloitte as a chartered accountant. For the fun of it, I wrote a research paper around bitcoin and its implications for the accounting profession. The thesis was claiming that bitcoin could lead to the irrelevance of auditors as a result of it being an entirely transparent financial system.
The paper was well-received, and I got funded to build an R&D team for the next two years. So I started and ran a team at Deloitte until the beginning of 2016. Then I left to start my company, Nuco with a focus on developing enterprise infrastructure.
We were building a private implementation of the Ethereum protocol on how to do private networks and enable private consensus among smaller groups of participants.
We helped launch and found the Enterprise Ethereum Alliance. I still serve on the board of directors. The alliance realized that one of the challenges in the enterprise market is that we were building isolated systems in different protocols in different languages.
Some people were building Hyperledger, Ethereum, CUDA, and other solutions. Also there were the public networks getting established. However, nobody was talking about how to connect them and allow for a transition that takes place on one network to be visible to a transition on another network.
What is the Aion Network?
We’re building a new public blockchain protocol that has the characteristics of a decentralized operating system. Our overall objective is to facilitate a relatively liquid flow of proofs, data, and value between chains. Functionality-wise it’s like Ethereum with optimizations for scale and performance.
Sitting around our network is a series of communication systems called bridges that allow us to verify transactions on other networks. These are decentralized pools of nodes that can observe events happening on other chains and then pull them in. So, they could execute logic from events on other chains.
What is the status of this technology adoption among enterprises?
To date, the enterprise market take-up has been slow, mostly because this infrastructure still needs a lot more time to mature. Today’s blockchain systems are nowhere near meeting all the various requirements of enterprise users.
As a result, we decided to step away from all of our customer-facing work, shut down that side of our business, and started focusing on the one layer of infrastructure that’s still lacking. It all came down to performance, scale, and connecting blockchains to each other. So we built a roadmap around that.
Now we’re starting with a focus on public networks where there’s significantly more pickup. This is where we can begin to show valuable evidence of our designs’ merits. Eventually, we see the Aion Network becoming a standard infrastructure that allows private and public networks to communicate with each other across the same protocol.
What is the relationship between Nuco and the Aion Network?
We’re restructuring our operation into a non-profit foundation. This means we’re unwinding our business, the company is getting scrapped, and all resources and operations will move into a foundation. Moving forward, there will be no product, revenue stream, or profit behind the Aion Network.
It will have some similarities to the Linux Foundation’s structure; a non-profit research and development organization. However, it will differ from Linux in that there’s an economic layer on top of these systems. We’ll still make money but in a nontraditional sense. As we prove the merit of our technology, the value of our ecosystem will grow.
We funded the foundation when we launched. We’re now in the process of legally establishing it. We’ve been analyzing different jurisdiction options for the last several months because we want to make sure we account for the implications downstream. We’ve been taking our time to talk to the legal teams at projects that have been active for a few years in different jurisdictions to hear the pros and cons. We’re getting close to a conclusion, but we still have a few jurisdictions on our shortlist that we need to study further.
How is your roadmap progressing?
We’re preparing to re-launch with a different brand and will shift our message away from the crypto market towards the mainstream market. We want to begin educating mainstream people as to why this is relevant to them.
We’ve laid out a roadmap that’s about two years. We’re at our first release right now and are about a month away from our primary net going out. It’s been in public test net since late January. So there has been a couple of months of working with the community on bug fixing and getting stability in the network.
We’re aiming to get version one of the public network published in early May. Following that will be the first bridge that we built between the Aion and Ethereum networks so that we can start moving elements of value and logic between them.
Following that will be a series of other bridges that we’ll build depending on priority; essentially the sizes of the networks that we’re connecting to. And then we’ve got a roadmap for improving the structure and robustness of our blockchain as well as the bridges we’re building between blockchains.
What is the status of your coin?
We’ll be using the proceeds from our ICO to get the next phase of the project started. We’ll have a supply of our own currency in our treasury for the foundation. As we work through those proceeds, the value of our own coin will determine whether or not it’s feasible to continue.
If the project does well, the coin’s value will go up to such an extent that, in theory, we could never run out of money, and so we could continue indefinitely. Conversely, if it goes badly, we’ll run out of money because it’s not getting picked up, nobody is using our system, and so it doesn’t deserve to continue to be funded.
So we’ve tied the future funding of the foundation to the success of our ecosystem, which indirectly gets reflected in the price of our coin.
What is happening in the interoperability space?
Interoperability has been a hot topic since late 2017. There’s so much activity that I can’t seem to go a month without hearing about a new project.
We keep in mind that the end goal should be collaboration for that end purpose, not competing. We launched the blockchain interoperability alliance with ICON and Wanchain so that we could do knowledge sharing and understand each other’s engineering approaches and roadmaps. This way, we can hopefully help each other accelerate. We’ve also met people from Ark and aelf.
We all stand to benefit if we get to the market faster. Rather than reinventing each other’s issues we should focus on learning from each other and then contributing something new.
Furthermore, we don’t categorize ourselves as a project focusing exclusively on interoperability as many projects do. Interoperability is one layer of a fully scalable operating system on a blockchain.
How are you positioned relative to Polkadot and Cosmos?
Cosmos and Polkadot both have solid reputations and long histories in the industry. However, their approach is slightly different to Aion.
Cosmos has been working on their Cosmos hub and what they call “zones,” which carry specific characteristics of the hub. They have a compatibility requirement for their zones to run a similar consensus algorithm to be able to integrate into the hub. If that blockchain is not compatible with the hub, then there’s a layer that needs to get built between the blockchain and the hub. They have something called the peg zone which connects to Ethereum. It has to mimic the Ethereum network but in a compatible way to Cosmos.
There’re also the early use cases that are focusing on coins getting locked and re-minted on different sides. So lots of interesting use cases for that, for why you’d want to lock a coin on one side and re-mint it on the other for ease of trade. But it’s quite focused on the crypto asset market.
Polkadot is a little more generic and aligned with us concerning architecture. They’re working on something called the Relay Chain and Parachains. Similar to Cosmos they have a requirement of how these parachains would be compatible with their Relay. Their bridge design is impressive, and we’ve learned a lot from looking at it.
One of the areas that we’ve differed in our philosophy is that if you’re a Parachain inside the Polkadot ecosystem, then you have to adopt specific security parameters dictated by the Relay, which becomes the arbiter of how security gets governed on different networks inside that ecosystem.
In contrast, at Aion, we’re trying to make sure that there’s little to no requirement on the chain we’re connecting to. In this way, the chain doesn’t have to adjust, fork, or update its protocol to become compatible with ours. That’s the first difference.
The second difference is on top of our equivalent of a Relay, we’re building a fully operating virtual machine ecosystem on that relay. This means we can run DApps (decentralized applications) from that hub and those DApps can start to pull bits and pieces of logic from other networks that are connected to it. So, rather than just being a router of messages, it’s also the place where you can build an application.
We don’t look at anybody as a competitor because our real opportunity is taking this to the rest of the world. There’s tons of space for all of us to push forward with our individual hypothesis on how we should build these systems. And we’re making open-source systems. We’re all learning from each other as we go and there’s a high degree of mutual respect.
What’s the number one challenge you’re facing?
Our biggest challenge is trying to grow the awareness in general. There’s a lot of people that we have to reach for the first time. We’ve done a reasonable job at getting the people who follow us actively to understand what we’re trying to accomplish. One thing in this market that we want to clarify is how we’re building our organization away from a for-profit corporate structure.
We realized that there are different motivations for shareholders and coin-holders. If you have a corporate structure that includes shareholders and a coin that includes coin-holders, then you’ll probably run into conflicts where you have to benefit one to the detriment of the other.
That is a conflict we don’t want to face. It’s going to become a significant governance issue in this market in the next few years where shareholders of companies will have certain motivations, and the coin-holders will have others.
Unfortunately, coin-holders don’t come with voting rights and shareholders do, and you may find coin-holders getting screwed over in restructurings, acquisitions, and bankruptcy proceedings as this market mature. We wanted to clean that up by making sure we only had a single group of stakeholders; the people who follow our project, actively use our technology and hold our coin.
That’s probably one thing that we’re trying to better articulate. This is not a company. We’re not selling services or products. This is a collaborative community initiative that we hope will get as much adoption as possible.
If all goes well, how will things look ten years from now?
A decade from now average people that use this technology will probably not understand the protocols that underpin it nor will they need to. There will be a whole bunch of protocols that interact with each other in a straightforward, elegant, and seamless way.
The types of applications and user experiences we can unlock on top of that are simple, obvious, and not complicated for consumers. We won’t be talking about interchain communication, wallets, and exchanges the same way we do today. It will have been obfuscated to the end user, and hopefully, Aion is a core part of that final design.
Where should technologists go if they want to get started with the Aion Network today?
Our GitHub is the best place to see what we’re building and read the documentation we’ve published. We have a forum where you can interact with our engineering team.
Also, our website has our whitepaper, and we’ve got a blog where we publish updates on what we’re working on.
We’re planning to put out structures whereby people can get involved in research, and we’ll have grant program and bounty programs so that contributors can earn some money by supporting us. There’ll be more coming on that in the next few months.
Why did you decide to visit Japan?
Meeting with Japanese supporters of the Aion Network project.
We’re doing a pretty significant global tour this year, focused on developer adoption, having people build stuff on top of the Aion protocol, and general market awareness.
We’ve been going to developer meetups, getting communities testing ideas on top of the Aion protocol, building apps, and business involved in the blockchain. In particular, we want Aion to be used in a widely known project.
There’s a lot of activity going in Japan. There are some exciting businesses building blockchain-based applications here. We’re hoping to find a Japanese project to work with to demonstrate some of the characteristics of what we’ve built.
Hopefully, we can give people the right reasons for following the project. In Japan, that means spending time educating people about our differentiating factors.
It’s easy to get labeled as just another crypto. So we’re trying to make sure that our message is focused on the uniqueness of our design and the sophistication of our software. Then, hopefully, people see value in that and want to get involved somehow.
What has been the general consensus among people who invested in your ICO?
We haven’t heard anything negative about people’s experiences on that front. Generally, people have been pretty happy supporting the project so far. We designed our economic structure somewhat uniquely when we launched it that has been advantageous to people as we develop more, as they contribute more.
We get a little criticism for not having emphasized exchange listings and wallet integrations. We don’t have anybody on the team whose job it is to focus on the financial market side. To date, we’ve just let it happen organically, and we intend to continue doing so.
Unfortunately, this means that we’re not doing things as quickly as some people would like. However, from our priorities, it’s happening as it should because the team is focused on development. The engineering team is focused on building, and the community team is focused on engaging with developers. That means we don’t spend anywhere near as much time as some other projects talking about the value of our coin or the markets we’re listed on. We stay away from that.
What direction will your career take long-term?
I’ve had the pleasure of working closely with some of the world’s foremost leaders in the blockchain field, and look forward to playing a part in the continued development of this technology in the decades to come.
To learn more about the Aion Network, please visit their website, GitHub, Twitter, or YouTube channel.
Summary of the latest Aion Weekly Update (April 16th, 2018)
https://www.youtube.com/watch?v=S_jmlzl_1No
- 💜 New Aion website, logo, and branding! Check out https://aion.network
- 🎥 Matt Spoke is doing a TV interview! More details coming soon
- 🚀 Attendence ramping up for AionEx on May 2nd! https://aion.network/aionex/
🚨 And the moment we all have been waiting for... 🚨
- 🏁 MAINNET launching on APRIL 25th! Global livestream event will take place from Aion offices accross the world and stay tuned as community can participate in launch
I really admire the AION project, their team is really active and really a quality project. They have many meet up in any country, their youtube channel is very active. I hope their project will success and there will be more investor to come in AION. https://www.youtube.com/watch?v=S_jmlzl_1No
- 💜 New Aion website, logo, and branding! Check out https://aion.network
- 🎥 Matt Spoke is doing a TV interview! More details coming soon
- 🚀 Attendence ramping up for AionEx on May 2nd! https://aion.network/aionex/
🚨 And the moment we all have been waiting for... 🚨
- 🏁 MAINNET launching on APRIL 25th! Global livestream event will take place from Aion offices accross the world and stay tuned as community can participate in launch
Aion completely eliminates the need for soft or hard forks.
Aion tokens can move freely between multiple Aion Mainnets that can be running simultaneously with different consensus algorithms (PoW, DPoS, PoI, etc), while maitaining a consistent total supply.
Matt covered this topic at 36m21s here:
https://youtu.be/U-Cm0rzr_V0?t=36m21s
Aion tokens can move freely between multiple Aion Mainnets that can be running simultaneously with different consensus algorithms (PoW, DPoS, PoI, etc), while maitaining a consistent total supply.
Matt covered this topic at 36m21s here:
https://youtu.be/U-Cm0rzr_V0?t=36m21s
I don't understand why creating new logo for high tech company with millions of capitalization is so important) Why this can influence price) Or new design of the site? They added some new functioanlity? or just design)?
We're excited for our charity soccer match against @SkrumbleHQ on Wednesday July 18th at 6-pm with proceeds going to @SpecialOlympics. #SKMvsAion2018 Tickets here: https://www.eventbrite.ca/e/skrumble-network-vs-aion-charity-soccer-game-tickets-47528927301
Hi All, Weekly update for week of July 2 - https://youtu.be/T1M4sCb9rG4
Together with IOTA, AION is my best bet for 2018. According to Metcalfes law this one could be a giant, nearing the Ethereum market cap.
The market cap is still tiny, gains of x10 are possible.
The market cap is still tiny, gains of x10 are possible.
Why AION over Ark? trying to understand which will be better choice.
Ark simply added an extra Vendor field in their wallet labelled ”Smartbridge" where you put some instructions like: "Use this ark token I'm sending to trigger an Ethereum contract". Then an "Encoded Listener", which is just an off-chain bot that's connected to Ethereum blockchain, sees that transaction with those instructions, and does what you asked.
Aion bridges completely moves tokens between different blockchains by deploying smart contracts on 2 different blockchains so they can:
1. Burn a certain amount of tokens on Blockchain A
2. Mint that same amount of tokens on Blockchain B
The Aion-1 blockchain acts as Router at the core of the Aion network. It has a Virtual Machine (AVM) which gives Aion 2 major advantages:
1. Instant Finality: The Aion-1 VM has parallel transaction processing to make sure Aion-1 doesn't become a bottleneck for performance while routing transactions between blockchains since they have different confirmation times.
2. Interoperable Dapps: The Aion-1 VM can host Dapps that read & trigger logic between different blockchains:
. IF THIS happens on blockchain A
. THEN THAT should happen on blockchain B
The vast majority of exchanges list the Aion ERC20 token on Ethereum, which you can store with MEW, Ledger, etc. Nothing is changing with that right now.
Up until today, native Aion coins were only available on Aion's main net via mining, and wallets were only available in the Linux command line interface.
Now there's an exchange (Bilaxy - https://medium.com/@aion_network/aion-mainnet-coin-listing-on-bilaxy-41427089db55) that is available to buy/sell native Aion coins, plus there's a desktop wallet app (https://medium.com/@aion_network/aion-desktop-wallet-released-344aabc289d5) to store and send native Aion coins with a user-friendly interface. In other words, now you can buy, sell, send, and store the native Aion coin on Aion's main net. The native Aion coin's uses are detailed in this whitepaper (https://aion.network/media/en-aion-token-overview-v2.pdf) but will initially be similar to ETH--fees for transfers, running smart contacts/dApps on the virtual machine, and eventually staking on the main net and bridges.
The Aion ERC20 tokens will continue to be bought, sold, sent, and stored on Ethereum, as well. Your tokens are fine where they are
indefinitely (though I personally recommend a hardware wallet or cold storage)--there's no forced swap.
The Aion Token Bridge will allow folks to move and convert from the Aion ERC20 tokens on Ethereum to native Aion coins on Aion's main net one way, 1:1. The total Aion supply is one steady number across two different blockchains.
The token bridge is still undergoing stress testing but release is anticipated before August, along with additional exchange listings and third party wallets for web, desktop, and mobile (including a pending submission to Ledger (vote here! https://trello.com/c/VIxLdq9H/107-aion-support)). In the meantime, the Alpha version of the token bridge (https://youtu.be/wJLA19mQFZ4) is currently available for public testing.
Together with IOTA, AION is my best bet for 2018. According to Metcalfes law this one could be a giant, nearing the Ethereum market cap.
The market cap is still tiny, gains of x10 are possible.
The market cap is still tiny, gains of x10 are possible.
Why AION over Ark? trying to understand which will be better choice.
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