What is Aion? AION: The Third Generation Blockchain Network. A multi-tier blockchain system designed to address unsolved questions ofShow more [+] scalability, privacy, and interoperability in blockchain networks.
The Aion blockchain network is like a computer network that makes it possible for dissimilar systems to communicate.
The Aion network will pass logic and value among participating blockchains as freely as liquid assets, where every transaction occurs without centralized intermediaries.
The Aion network will be centered on a public, purpose-built third-generation blockchain called Aion-1. Designed to connect other blockchains and manage its own robust applications, Aion-1 also provides the crypto-economic system that incentivizes interoperability in the ecosystem.
The AION token is initially being offered on the Ethereum blockchain as an ERC-20 token. As soon as the Aion network is operational, these ERC-20 tokens can be seamlessly converted to AION network tokens, and will continue to be able to flow freely back and forth between these two blockchains.
The AION token is the fundamental method of interaction within the Aion network and its primary currency, powering:
AION-1 OPERATIONS: Mechanics of the Aion-1 blockchain are powered by the AION token, including the ability for users to stake tokens to back validators of Aion’s consensus process.
BLOCKCHAIN SOFTWARE APPLICATIONS: Developing applications on Aion-1 requires the use of AION tokens to access the resources of Aion Virtual Machine. Based on the complexity of the application, the AVM consumes tokens as fuel.
INTER-CHAIN BRIDGES: In order to instantiate a bridge from Aion-1 to any participating blockchain, AION tokens must be staked into a bridge registry contract. Once built, other nodes can join the bridge by also staking AION tokens. Fees for inter-chain transactions are set by bridges, and distributed to the validators on those bridges.
PARTICIPATING BLOCKCHAINS: AION tokens can be used to access and create customized Aion-compatible participating blockchains.