Blockchain inter-connectivity has always been elusive and Aion (AION) outfit seeks to connect all the players to achieve an environment that provides scalability and interoperability. If the AOIN token lives to its billing, a seamless movement of digital coins across blockchains will be possible. To make this pipe dream possible, the Aion ecosystem is set to beginning building the bridge with the platform it rides on.
The Aion system rides on the Ethereum platform and once the AION token works with ETH, the concept will be replicated across other networks with ease. Although the coin is preparing to go it alone by breaking out of the Ethereum system, collaboration during the testing period between the two is evident.
Aion (AION) to Play the Token Bridge Role
Seamless movement of digital coins across networks has brought a lot of limitations and makes the technology cumbersome. Aion takes a break from deploying smart contracts and instead allow the system destroy tokens as they as they move along. Eliminating smart contracts means token copies are not stored and only a single is processes at any given time.
Matt Spoke, the CEO of Nuco and company that is behind Aion says:
“It’s a micro-network, it’s a collection of nodes that’s decentralized, there’s multiple participants, and those other nodes of the network are acting honesty, but the bridge is responsible for agreeing they witnessed the event. That’s the function we are built in.”
According to Spoke, the first network to be integrated into the Aion system is Ethereum and others will follow suit, he adds:
“The design of the bridge is going to get more and more generic over time. We want that to communicate with other blockchains.”
Why the Hype around Aion (AION)?
Digital users are beginning to questions most of the hiccups in the blockchain technology and one of the glaring issues is the possibility of having systems that are interoperable. Aion is the solution to this problem and will act as an inter-blockchain connector where all the players can communicate in a secure and transparent manner.
Once the project is complete and more blockchains come onboard, it will be a win-win situation for all the players. A smooth communication means ease of transferring data and value and this will lower transactions costs as well as making them standard across multiple platforms.
Simply put, Aion virtual machine will enable inter-dApp communication across all networks giving developers the freedom to customize their applications according to individual platform needs without compromising their interoperability. This way, the system will “kill” third parties since Aion will provide transaction support in a standardized environment.
Problems Aion Seeks to Solve
The existing blockchain outfits operate each on their own island. Communicating between each player has slowed down the concept of decentralization and that is where a bridge comes in. With each platform having a native programming language, communicating with alien networks becomes an obstacle leading to scalability issues.
Once these issues are addressed, Aion will make it easier for data processing through creation of blockchains that are customizable and be able to communicate with others. Once this dream becomes real, Aion adoption will increase the value of AION token and the benefits will trickle down to the investor.
Aion (AION) Market price Check
Aion (AION) is ranked 60 by market capitalization and stands at number 25 among the best rated tokens in the market by value. The last 7 days has seen the coin price dip but at the time of going to press, the coin is trading on the green after gaining a marginal 0.59% to the dollar and 3.85% to Bitcoin. It is currently trading at $0.916363.
The coin has shown the potential to breakout through the $1 mark in the next three months and this could be a sustainable zone given how the value has gained traction since the launch of its mainnet in late April this year.