The Aion network is a multi-tier blockchain network designed to support a future where many blockchains exist to solve unique industry problems and to power the services of the modern world. Aion will become the common protocol used for these blockchains, enabling more efficient and decentralized systems to be built. The Aion protocol enables the development of a federated blockchain network, making it possible to seamlessly integrate dissimilar blockchain systems in a multi-tier hub-and-spoke model, similar to the internet. For more information visit aion.network
Aion? What Is It?
Today, there are hundreds of blockchains. In the coming years, those hundreds will become thousands and—with widespread adoption by mainstream business and government—millions. Blockchains don’t talk to each other at all right now; they are like the PCs of the 1980s.
In the future, blockchains will federate data and value in a hub and spoke model similar to the internet. The future of mainstream blockchain adoption will be achieved by the development of a networked, federated blockchain to integrate these separate spokes. That integrated blockchain network is Aion.
Problematic.
Currently, there is intense interest in blockchain technologies for enterprise and other use cases in both the public and private sectors. In addition to the new mainstream attention being placed on Bitcoin, Ethereum, and the broader ICO market, IBM and other companies have many public and secret blockchain projects; and companies as diverse as Disney and Microsoft have put their name on enterprise blockchain projects. As of July 2017, over 150 companies in various industries are members of the Enterprise Ethereum Alliance (EEA). In addition, over US$400M has been invested in VC (CBInsight) and US$900M through token-generating events since November 2016 (Smith and Crown).
Currently, there is intense interest in blockchain technologies for enterprise and other use cases in both the public and private sectors. In addition to the new mainstream attention being placed on Bitcoin, Ethereum, and the broader ICO market, IBM and other companies have many public and secret blockchain projects; and companies as diverse as Disney and Microsoft have put their name on enterprise blockchain projects. As of July 2017, over 150 companies in various industries are members of the Enterprise Ethereum Alliance (EEA). In addition, over US$400M has been invested in VC (CBInsight) and US$900M through token-generating events since November 2016 (Smith and Crown).
However, the widespread adoption of blockchain technology is constrained by unsolved questions of scalability, privacy, and interoperability. Previous enterprise blockchain innovation has been ineffective at addressing these core concerns. Large amounts of resources have been spent trying to build the next perfect blockchain instead of working to integrate existing systems into an interoperable blockchain network.
Solution
Aion is a third-generation blockchain network that will enable any private or public sector organization to:
• Federate: Send data and value between any Aion-compliant blockchain and Ethereum.
• Scale: Provide fast transaction processing and increased data capacity to all Aion blockchains.
• Spoke: Allow the creation of customized public or private blockchains that maintain interoperability with other blockchains, but allow publishers to choose governance, consensus mechanisms, issuance, and participation. At the root of the Aion network is a purpose-built, public, third-generation blockchain called Aion-1. Designed to connect other blockchains and manage its own robust applications, Aion-1 also provides the economic system that incentivizes interoperability in the ecosystem.
• Federate: Send data and value between any Aion-compliant blockchain and Ethereum.
• Scale: Provide fast transaction processing and increased data capacity to all Aion blockchains.
• Spoke: Allow the creation of customized public or private blockchains that maintain interoperability with other blockchains, but allow publishers to choose governance, consensus mechanisms, issuance, and participation. At the root of the Aion network is a purpose-built, public, third-generation blockchain called Aion-1. Designed to connect other blockchains and manage its own robust applications, Aion-1 also provides the economic system that incentivizes interoperability in the ecosystem.
AION tokens are the fuel used to create new blockchains, monetize inter-chain bridges, and secure the overall network.
Roadmap (Business & Technical)
Aion-1 will be executed in three separate phases, with each phase focusing on different aspects of the technology and assembling the building blocks while progressing towards the finalization of the network (phase 3). The exact deadlines for each phase will be announced in due course.
Phase 1 The focus of the first phase in the Aion release schedule is the interchain communication and bridging infrastructure. With this in mind, phase 1 functionality will include:
- Modified, high-performance EVM
- Functioning bridging and interchain communication
- Modified proof-of-work consensus algorithm
Phase 2 The second phase of the Aion release plan is targeted towards the migration from our modified EVM architecture towards the proposed AVM architecture. Development priorities of this phase include:
- Aion Virtual Machine
- The Aion scripting language
- EVM legacy codebase continued support
Phase 3 The third phase finalizes the envisioned network infrastructure, providing infrastructure for fast, efficient interchain communication and interchain applications. In addition to the interchain functionalities from Phase 1, and the VM implementation from Phase 2, this phase will introduce our representative consensus including the representative consensus algorithm
Token Economics:
- Hard cap:US$45 million (ICO is 50% of total token supply)
- Conversion rate: 1 AION = $1 USD
- Maximum Market Cap: ~US$225 Million if hard cap is reached (to be confirmed)
- ERC20 token: Yes
- Crowdsale date: October 3rd
- Token distribution date: When pre-sale ends
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