Learn What is AION: The Most Comprehensive Guide Ever

Blockgeeks.

1 year ago
Learn What is AION: The Most Comprehensive Guide Ever

What is AION

TLDR:

  1. 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.
  2. Aion aims to become the common protocol used for these blockchains, enabling more efficient and decentralized systems to be built.
  3. 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.

Most Comprehensive AION Blockchain Guide. Blockchain adoption is growing at an insane rate. More and more blockchain-centric applications are coming up every single day, and it is a truly incredible time to be alive. However, with this fast-paced adoption comes a major problem. With so many blockchain based companies out there, each becomes a community of its own.

As such, intercommunication between them becomes nearly impossible. Consider this for a second, we have the Bitcoin community and the Ethereum community, however, it’s near impossible for both of them to communicate and interact with each other in an efficient way.

This where AION Blockchain comes in.

Aion Blockchain is the first multi-tier blockchain network designed to interconnect these various blockchain entities. In this guide, we are going to to do an in-depth study of Aion. With their main net releasing in the upcoming month, now is as a good a time as any to get acquainted with this, potentially groundbreaking, company.

Most Comprehensive AION Blockchain Guide

The Three Generations of Blockchain

To date, we have gone through three generations of blockchains.

Generation 1: Bitcoin and Money Transfer

Bitcoin was created because everyone was asking the same questions.

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Will it be possible to create a form of money which can be transferred between two people without any middleman?

Will it be possible to create a decentralized money which can function on something like the blockchain?

Satoshi Nakamoto answered these questions when he created bitcoin. We finally had a decentralized monetary system which can transfer money from one person to another.

However, there was a problem with bitcoin which is a problem with all first generation blockchains.

They only allowed for monetary transactions, there was no way to add conditions to those transactions.

Alice can send Bob 5 BTC, but she couldn’t impose conditions on those transactions. Eg. She couldn’t tell Bob that he will get the money only if he performed certain tasks.

These conditions would need extremely complicated scripting. Something was required to make the process more seamless.

Generation 2: Ethereum and Smart Contracts

And that “something” was smart contracts:

What is a smart contract?

Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman.

Learn What is AION: The Most Comprehensive Guide Ever

Vitalik Buterin’s Ethereum is easily the stalwart of this generation. They showed the world how the blockchain can evolve from a simple payment mechanism to something far more meaningful and powerful.

However, this generation had some problems too.

As more and more interesting use cases of the blockchain were coming out, they were getting more and more acceptance.

The problem was though, these generations of blockchain didn’t really have good provisions for scalability. Along with that, the governance system of these blockchains was not really that well thought out. Case in point, the