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About Aion
Key Points
- Aion (AION) is the token used to secure and access The Open Application Network (OAN).
- OAN is a public network launched in 2018 in Canada, aiming to facilitate interoperability between different blockchains.
- AION enables users to execute smart contracts, store data, and share it between different networks.
Founders
- CEO: Matthew Spoke, University of Ottawa graduate, founder of Blockchain Technology Coalition of Canada, and founder of Nuco.
- COO: Ian Chan, Harvard and University of Toronto graduate, with experience in growth mechanisms for the financial industry.
About Aion: Pioneering the Future of Blockchain Interoperability
Aion (AION): A Comprehensive Overview
Aion is the token that underpins the security and accessibility of The Open Application Network (OAN), a public network launched in 2018 in Canada. Governed by The Open Foundation, a registered not-for-profit organization, the OAN strives to provide a platform for the creation of Open Apps, fostering an environment of innovation and collaboration.
The primary objective of The OAN is to foster seamless interoperability among disparate blockchains, thereby empowering users and developers to craft a diverse array of applications. By positioning the AION token as the linchpin of the network, OAN enables users to execute smart contracts, store data, and share it effortlessly across different networks.
The Visionaries Behind Aion: Meet the Founders
The Open Application Network is spearheaded by CEO Matthew Spoke and COO Ian Chan.
Matthew Spoke, an alumnus of the University of Ottawa, boasts a rich background in blockchain-centric enterprises. Notably, he is the founder of the Blockchain Technology Coalition of Canada. Additionally, Spoke is a founding member of Nuco, a pioneering enterprise blockchain network solution. In 2020, he embarked on a new venture, Moves, an innovative app designed to energize the thriving gig economy.
Ian Chan, Chief Operating Officer of OAN, boasts an impressive academic pedigree, having earned degrees from esteemed institutions such as Harvard and the University of Toronto. With a specialization in growth mechanisms for the financial sector, Chan has accumulated a diverse range of professional experiences. Notably, he held the position of Senior Vice-President at the Thomas Cook Group in 1998, before moving on to Hewlett Packard. In 2005, he joined Deloitte, and since 2018, he has dedicated his efforts to developing OAN.
Unveiling the Distinctive Characteristics of Aion
The Open Application Network is poised to revolutionize the cryptocurrency landscape by bridging the gap between disparate blockchains. The AION token is specifically designed to facilitate seamless transitions for developers and users alike, enabling effortless transfers between blockchain ecosystems. Furthermore, AION empowers the execution of data transfers and smart contracts on prominent platforms such as Ethereum and NEO.
The absence of seamless interactions between blockchains remains a significant obstacle hindering the technology’s widespread adoption in the mainstream financial sphere. AION envisions a platform that will revolutionize the current banking system, transforming the way global finance operates. The OAN has already forged strategic partnerships with industry giants, including CryptoCurve, Nodesmith, and BlockX Labs. Furthermore, AION is a proud member of the prestigious Blockchain Interoperability Alliance.
What Is the Circulating Supply of Aion (AION) Coins?
A total of 487,496,874 AION tokens comprise the entire supply, with the entirety of this amount having entered the market and being actively traded. At present, there is no indication as to whether OAN intends to introduce additional tokens in the future or if the current total supply will ultimately constitute the maximum supply for AION.
The founders and other team members retained approximately 40% of the total AION token supply. A substantial 51.5% of AION tokens were allocated to Token Release Schedule Contracts, which will be incrementally released to the public over time. The remaining 8.5% of tokens were distributed among private investors who participated in AION’s seed funding phase.
The Aion Network’s Security Mechanisms: A Robust Framework
The OAN blockchain and AION token are fortified by a synergistic blend of delegated proof-of-stake (DPoS) and proof-of-importance (PoI) consensus mechanisms, ensuring a robust and secure framework. Notably, the blockchain’s architecture incorporates Byzantine Fault Tolerance, providing an additional layer of protection against potential vulnerabilities.
DPoS, a relatively novel consensus mechanism, leverages stakeholders to validate new blocks, thereby facilitating the creation of new tokens. In contrast to the energy-intensive proof-of-work (PoW) consensus, which necessitates substantial computational power and electrical energy for the mining process, PoS consensus mechanisms boast greater scalability and environmental sustainability, with the number of staked coins playing a pivotal role.
Where to Acquire Aion (AION) Cryptocurrency
AION tokens are available for purchase on multiple prominent cryptocurrency exchanges.
As of February 2021, Binance boasts the highest processed volume of AION/USD transactions, amounting to a staggering $8,419,408. Additionally, traders can also explore alternative platforms such as Bitrue, Bithumb, and Bitvavo for trading AION.
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