What Is Aion?
About the Aion Protocol and Aion-1 Network
What does it mean to federate, scale, and spoke?
As it relates to Aion: To federate is to send data and value between any AION compliant blockchain and Ethereum. To scale is to provide fast transaction processing and increased data capacity to all AION compliant blockchains. To spoke is to allow for the creation of customized public and private blockchains that maintain interoperability with other blockchains, but allow publishers to choose governance, consensus mechanisms, issuance, and participation. For more information, see our White Paper.
What is Aion-1?
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. Users will be able to deploy adjacent participating networks suitable for their own use cases and communicate with other networks through an accountable routing architecture.
What is a bridge?
A bridge is a communication protocol that facilitates communication between the participating network and the connecting network. A bridge is composed of its own distinct network of validators that assures translation of protocols and accountability between networks. Bridges are directional; the source blockchain is the chain where transactions are emitted and the target blockchain is the chain where the transactions are forwarded. A bridge has two main responsibilities:
- Signing and broadcasting an interchain transaction only if they have been sealed in the source blockchain and an interchain transaction forwarding fee has been paid.
- Informing the connecting network of the merkle hash updates of the participating network.
How does a blockchain become AION compliant?
Aion-compliant blockchains refer to the participating blockchains that comply with the Aion protocol and on which bridges can be established easily to forward interchain transactions through Aion-1. To be Aion-compliant, a blockchain must meet certain requirements including:
- Be decentralized in some fashion and support procedures commonly found in blockchains such as atomic broadcast and transactions. The exact implementation is left to the discretion of the bridging protocol and the network itself.
- Be able to recognize interchain transactions as distinct from regular transactions.
- Be aware of the consensus protocol used by the bridge and store a transaction deemed valid.
- Implement locktime or a similar feature that allows tokens to be held by the network for a period of time.
About the Aion Token and Token Distribution
What are AION network tokens?
AION network tokens are the fuel used to create new blockchains, monetize inter-chain bridges, and secure the overall network. For more information, see our White Paper.
How is the AION network token sale structured?
The AION network token sale will be executed in three phases, each offering a unique set of benefits to various investor profiles. Private Sale
- Mid 2017
- 30 million tokens sold
- Targeted to institutional and accredited investors
- October 3rd, 2017 - UTC 1400
- 15 million USD soft cap + 4 hour time cap
- Limited token generation event
- 5x sum of tokens sold in the Private Sale and Pre-Sale
How can I participate in the AION network token sale?
In order to ensure the highest level of security, the AION network token sale will be conducted on the Ethereum blockchain. The only accepted contribution method will therefore be Ether. We do provide Shapeshift integration to streamline the process of converting any other cryptocurrency to Ether. At the start of the Pre Sale, we will post the Ether addresses where contributions can be made using an ERC-20 enabled Ethereum wallet. At the close of the Pre Sale, tokens will be allocated to the accounts from which the contributions were made. For more information, see our Token Pre-Sale page.
I have contributed to the AION network token sale. When do I receive my AION?
Purchased AION network tokens will be distributed at the close of the Pre-Sale. For more information, see our Token Pre-Sale page.
What is the token release schedule (TRS)?
Pre-Sale contributors will be provided with the choice of either receiving their allocated tokens immediately or according to a one-year token release schedule (TRS). Any purchased tokens can be contributed to the TRS at any point prior to the TRS lock date, ahead of the Public Sale. Immediate Token Release At the moment of minting (following the close of the Pre-Sale), purchased tokens are distributed immediately to contributors’ wallets. Token Release Schedule Purchased tokens can be set to follow a release schedule at the time of purchase or any time prior to the TRS lock date. At the close of the Public Sale, 25% of tokens in the TRS will be distributed to contributors’ wallets, with the remaining tokens being distributed monthly for one year. For more information, see our Token Sale Mechanics page.