Complexity is what occurs when there are a bunch of different nodes connecting to each other. The number of connections goes up exponentially, as does the way they can interact with each other. And just as there are nodes on networks, each network forms its own node in the total ecosystem.
The blockchain ecosystem has grown a massive amount over the last 3 years, and it is continuing to grow. This has created growing pains in terms of compatibility and interoperability, which in turn are creating opportunities for companies like AION to step in with their solution.
Progress is Being Made
Since AION was funded by a token sale in October 2017, they have made significant progress. The company was started by Nuco, the same company that created Deloitte’s blockchain arm. This year they have both launched their mainnet and their pool software, and their roadmap shows many more new goals being reached in the near future. AION is definitely a “big picture” type of company, and the industry needs a solution like this right now.
Facebook’s power isn’t in its technology, but in the network effects it has. There are so many people currently using Facebook that it naturally draws more people to its network on a daily basis. AION’s goal is to do the same thing for the entire blockchain network, which in their eyes, would make it “business-ready”.
The Problems AION Needs to Solve
The three key problems that need to be solved are regarding scalability, interoperability, and privacy. Businesses are naturally hesitant to move any aspect of their operations onto the blockchain while major issues still exist.
Scalability issues are a constantly brought up problem with blockchain technology in general, as efficiency tends to erode as the companies hit critical scale. AION is essentially proposing an ecosystem-like solution that will solve this problem in a roundabout way.
Interoperability is another critical issue that leaves many companies skeptical about the risks of blockchain. They don’t want to have all their data tied to one network, with an inability to move it around. Think of it in the same way that users of Facebook have all their data and friends tied to that one social network, and are locked in. Businesses don’t want this to happen to them.
Finally, there is the privacy issue. Having transparent transactions isn’t something all companies are going to find acceptable, which is why AION is working to create private solutions that will ease the worries of companies.
AION’s Investment Case
Like everything else in the crypto industry, AION went through a massive downtrend starting at the beginning of the year, experiencing a bounce in May. AION is currently trading at $0.402 USD, and has been trading relatively flat over the last few months.
This creates a solid buying opportunity for those interested in the use case, as this feels like a floor for the coin. There are several other projects with a similar goal to AION, however for those who find the current pricing appealing, AION may be purchased on Binance.
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