Aion (AION) Review, Price, Market Cap and more | Coinopsy

Aion (AION) Review, Price, Market Cap and more

Aion (AION) - Scalable Platform

Aion (AION) is a network that has just been launched by a blockchain technology company based in Toronto called Nuco.io. This network is the first in the world to use third generation blockchain and is the future of the digital infrastructure..
Aion's current price is $0.066 USD. In the past 24 hours, Aion's price has decreased by -3.8 percents..
Name (Ticker)
Aion (AION)
Price (USD)
$0.0661869154422
Rank
125
Active Supply
410.4 million
Total Supply
410.4 million
Volume(24H)
2.0 million
Market cap
27.2 million
Fun Name
Scalable Platform
Website Links
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Pros

  • Scalability
  • Privacy

Cons

  • No backing (asset, profits, commodity)

Review

Aion (AION) is a network that has just been launched by a blockchain technology company based in Toronto called Nuco.io. This network is the first in the world to use third generation blockchain and is the future of the digital infrastructure. The great thing about Aion (AION) is it is scalable – much like many other similar technology and in addition, it is also very private and secure and best of all, it is interoperable. Here is a brief look at how Aion (AION) works.

  • Scalability, privacy and interoperability
  • Interoperable from the bottom up
  • New standards
  • Features

When it comes to implementing blockchain technology, it is important that it be scalable and private as well as interoperable. Once these issues are solved, you can bet your bottom dollar that there won’t be any disparate planets and the universe will be well connected. Keeping such factors in mind, Nuco has gone the extra mile to develop the Aion (AION) platform as a futuristic network that has excellent capabilities to ensure maximum federating and spoking as well as scaling.

What this really means is the Aion (AION) platform is designed to be interoperable from the bottom up. It has also been designed to work as well as communicate with a host of other blockchains and in doing to, it becomes a truly useful platform.


In these modern times, there are innumerable separate blockchains, though not many of these talk to each other. This is where Nuco is stepping in to solve such communications problems.

Nuco is a part of the Enterprise Ethereum Alliance and together they are working with some of the biggest blockchain players on the planet to come up with new standards (many of them still evolving). It’s kernel which is available in beta form is able to provide enterprise-grade private blockchain which can be deployed easily and which supports the most demanding needs across the EEA.

The Aion (AION) features enterprise-grade security, scalability on a massive scale, EEA guidelines compliance, tools for development and administration, and high bandwidth and low-latency Java API.

The Aion (AION) blockchain network is one of the best third generation networks. It allows public and private sector organizations to federate, scale and spoke. In terms of its ability to federate, the Aion (AION) platform sends data and value between any blockchain that is also AION compliant. In addition, it also provid3s quick transaction processing and increased data capacity to each and very AION blockchain.

Finally, it allows you to create customized public or private blockchains while still being interoperable with various blockchains. At the same time, it also allows publishers to choose how to govern and use consensus mechanisms as well as more.

The bottom line is the Aion (AION) network is built around public and 3rd generation blockchain named the Aion-1. It is scalable, interoperable and private.

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Format

Ideally, the interchain transaction format would include three parts:

  • Payload data that is specific to the creator and is typically regular transaction data, but potentially could be extended to arbitrary data, at the discretion of the creator and the source network.
  • Metadata about the interchain transaction that contains routing information and fees.
  •  Merkle proof that is only used when the sender wants to bypass the bridge.

The bridge and connecting network validators shall not interpret the data, but do check the integrity of the transaction as a whole. Privacy-sensitive information applications could choose to encrypt the data if necessary.

Interchain Transactions

An interchain transaction is a trust-free message between blockchain networks, a critical infrastructure component powering interchain communication. Interchain transactions allow any connected blockchain networks to exchange information, like computers on the internet.

Interchain transactions are initially created on a source blockchain and then processed and forwarded by bridges and connecting networks before finally reaching the target blockchain. As stated previously, the creator of an interchain transaction must pay a transaction fee for the communication cost using AION tokens, thereby incentivizing all the participants in each junction of the route.

Interchain transactions are designed to be somewhat analogous to packets by specifying the hops they should perform from the source to target network, which potentially means passing through numerous connecting networks.

Connecting Networks

Connecting networks are networks that facilitate interchain communication and interchain transactions between multiple private or public blockchain networks. Connecting networks are defined by requirements that specify their role within the context of the Aion network. Connecting networks and interchain transactions provide a universal interface that enables blockchain developers and users to route messages from one network to another. Specifically, a connecting network should provide the following core functionalities:

  • Route messages between different blockchain networks through a common bridging protocol that involves translation and propagation of the message, which must be considered final.
  • Provide decentralized accountability.
  • Provide a bridging protocol.

Aion network protocols specify standards for the external components. While the actual functionality and internal components of each connecting network might vary by vendor and intended purpose, these core functionalities should be implemented.

Point-to-point connections such as inter-blockchain relays or purpose-specific networks such as BTC Relay exist as central hubs. Such protocols, while simple and efficient, often result in complicated state channels that can give rise to contentious situations and are often at the mercy of one or a select group of individuals that run the relaying networks.

Technical Overview

The Aion multi-tier blockchain network is like a computer network, providing a protocol and standard for dissimilar systems to communicate. However, in addition to information, the Aion network will pass logic and value among participating blockchains to create a contiguous value chain where every transaction occurs on-chain, with logic and value passing among chains as freely as liquid assets.

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Hardware Wallets

The Ledger Nano S is a hardware wallet that connects to your computer through USB. It functions as a more secure way to store your private keys for AION accounts, and supports various other cryptocurrencies as well. An individual accessing a Ledger hardware wallet would need to have both the physical device and PIN code to access their crypto assets, and each transaction will need to be confirmed through the hardware wallet in order to be processed.

You will need to install the Aion app on your Ledger device to manage AION coins with the Aion Desktop Wallet (walkthrough below). The Aion app is developed and supported by the Aion community.

Prerequisites

Make sure you have done the following before you begin transacting Aion coins through your Ledger hardware wallet.

Connection Issues

If you are running Windows or Linux, you may encounter connection issues. In this case, please refer the the troubleshooting guide provided by Ledger here.

Install the Aion App

  1. Open the Manager in Ledger Live
  2. Connect and unlock your Ledger Nano S
  3. If asked, allow the manager on your device by pressing the right button
  4. Find Aion in the app catalogue
  5. Click the Install button of the app
    • an installation window appears
    • your device will display Processing...
    • the app installation is confirmed

View Accounts on the Ledger Hardware Wallet

Connect and unlock your Ledger device. Open the Aion app.

  1. Navigate to Settings within the Aion app on your device, and ensure that Contract data is set to yes
  2. Open the Aion Desktop Wallet, and select Import account:

Desktop Wallets

Aion Trust

The Trust wallet is loaded with multiple layers of security features and hence is one of the most trusted wallets for holding your crypto coins. Available in both iOS and Android phones it is considered to be one of the best Android wallets by far. It has also integrated with Binance DEX which makes trading of crypto funds seamless and easy. Trust does not store any of your private information and is a highly secure wallet. You can also interact with other dApps directly from the Trust wallet.

Coinomi

Founded in 2014, Coinomi is one of the most trusted wallets for storing your AION coins. It is one of the oldest wallets working in the crypto market and is used by millions of users so far. The wallet is available in both mobile and desktop versions. The desktop wallet is available in Mac, Windows, and Linux OS. Just like the mobile wallet, you can now view all your transactions through the desktop app from the comfort of your home. You can also set the mood of your desktop wallet to dark and light according to your preference.
 

Aion Desktop

The Aion desktop wallet allow you to send, receive and manage your AION coins in a secure fashion with a direct, encrypted connection to a remote Aion node. Accounts are created using best-in-class industry practices and standards. Transaction history is also made available in the Aion desktop wallets to verify transfers. These wallets represent part of the commitment to our community to deliver on our promise of a decentralized Internet, and we look forward to announcing exciting new functionality soon.

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