AION The Third Generation Blockchain Network

What is Aion? Aion, which is being called a third-generation blockchain. Bitcoin’s blockchain is considered a first-generation blockchain because it’s function is mostly limited to transferring digital assets in a decentralized and P2P fashion. Ethereum would be considered a second-generation blockchain because it enables Smart Contracts, which allow for business logic to also be a part of a digital asset exchange. Aion-1 will take this 1 step further and allow these different blockchains to communicate with each other. The important thing here is that private blockchains will be able to communicate with public blockchains, which is something that large businesses are likely to prefer.

Aion network, which essentially provides a protocol and standard for different systems to communicate with each other (interoperability). This is the key that makes Aion-1 a third-generation blockchain. Right now you cannot just send Bitcoin to an Ethereum wallet, or have an Ethereum application trigger a Bitcoin wallet to send funds.

Meeting with Koubou Sakai in Tokyo. A big supporter of Aion, and a big influence in Japan

Aion-1 Blockchain

The Aion-1 blockchain is the genesis implementation of the connecting network. It is designed to be a fair, distributed, open blockchain architecture that is capable of fulfilling the requirements specified in the multi-tier blockchain network architecture. As an open blockchain, Aion-1 was designed with the following goals :

Connecting blockchains and external services (e.g., oracles and databases) together through the contiguous network and providing accountable communication maintained through a decentralized network.
Providing the necessary infrastructure to develop high-performance, decentralized, inter-blockchain applications.
Creating a maintainable network through a robust and sustainable economic model.

Scripting Language

The Aion scripting language is used for writing chain logic that runs on Aion-1 and potentially any connecting/participating network. The Aion language is compiled into AVM bytecode and executed by the AVM.

The Aion language provides the following features:

Defensive programming
Blockchain context injection
Blockchain runtime environment
Security

Roadmap

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.

1. The focus of the first phase in the Aion release schedule is the interchain communication and bridging infrastructure.

Include:

Modified, high-performance EVM
Modified proof-of-work consensus algorithm
Functioning bridging and interchain communication

2. The second phase of the Aion release plan is targeted towards the migration from our modified EVM architecture towards the proposed AVM architecture.
include:

The Aion scripting language
Aion Virtual Machine
EVM legacy codebase continued support

3. This phase will introduce our representative consensus including the representative consensus algorithm. Finalizes the envisioned network infrastructure, providing infrastructure for fast, efficient interchain communication and interchain applications.

Ico Details

Aion is selling their tokens in 4 separate sales. A private sale, pre-sale, and public sale (split into 2 phases). Phase 1 of the public sale is capped at 10Mil tokens and takes place late 2017. The second phase will take place in 2018 after the completion of a major Aion milestone release. Personally, this is how most projects should structure their token sales because it helps give incentive for the team to produce their product.

The private and pre-sales are already over. They had the benefit of being able to participate in a Token Release Schedule (TRS). This TRS essentially gives a bonus to holders that take their distribution over a period of time instead of all at once. Unsold tokens in the public sale will be distributed to TRS contributors before the TRS end date (late 2018).

The private sale raised $15Mil ($0.50/AION), and the public pre-sale raised ~$8Mil($0.75-$1/AION). The public sale price per token will be $1+. The price will likely increase as more are sold, but this has not been specified yet by Aion.

Aion Token

The Aion token is the fuel used to operate the Aion-1 blockchain. This is similar to how Ethereum uses ETH as gas for its network. AION tokens will also be used when establishing bridges between blockchains, as well as for creating new blockchains. Lastly, AION tokens are used as an incentive to maintain the integrity of the Aion network.

The AION token will allow for staking, which in this case means backing a validator. A validator actively participates in the consensus process, but needs a large backing to do so. A validator’s rewards are then shared with their backers. Staking can be a nice way to generate passive income, so this is something to keep a close eye on.

Token Sale

Private Sale: A discounted, private sale of tokens
Public Pre-Sale: A limited, public, pre-sale of tokens
Public Sales: Two public sale of tokens

Team

They even have a video in which you can hear from multiple team members, which provides a great level of transparency. Aion has a strong and large team. The CEO is Matthew Spoke who has more than 4 years of experience working exclusively in the blockchain space.

Well that's a little explanation and information about Aion, so in conclusion Aion is a Third Generation Blockchain network. You can also keep up to date with our progress through: Twitter | GitHub | LinkedIn. For permission requests, please write to hello@aion.network.