Aion calls itself as a Third Generation Blockchain Network. The big three problems that blockchain faces, namely interoperability, scalability, and privacy, is what they are working to resolve. They are trying to achieve this through a multi-tier blockchain system that they have developed.
Interoperability means two things:
- Banks don’t really like cryptos
- There are a lot of cryptos that can not talk to each other because they are just not compatible.
Scalability refers to:
- Transactions per second
- Data storage.
Privacy entails the good old secret-keeping that none of the current blockchains are able to do well enough, hence the need.
Aion being third gen knows where most blockchains fail, which is why the pain points of bitcoin and ethereum can be easily resolved, it will enable any private or public sector organization to:
- Federate: Send data and value between any Aion-compliant blockchain and Ethereum.
- Scale: Provide fast transaction processing and increased data capacity to all Aion blockchains.
- Spoke: Allow the creation of customized public or private blockchains that maintain interoperability with other blockchains, but allow publishers to choose governance, consensus mechanisms, issuance, and participation.
The future demands much more sophisticated, sharp, speedy and effective blockchains. This adds to the relevance of something so fresh as AION. It will support the development of new blockchain as well smart contract writing, development and execution all fueled by its native Aion token (AION).
While there are several third gen blockchains coming to town and trying to handle things their way, we still do not know if all of the big three plus a major data storage problem is actually solvable or not. Although no change, no fun and that’s exactly why the search is still on until something concrete happens.
The promise of the second gen blockchains was like PC’s, enormous potential, great stuff but that is still not enough. This could be bigger than the future. The participating blockchains can join in AION. It helps in customizing, enabling and improving other blockchains. It is like the internet of blockchains, where currencies, blockchains, and startups based on different blockchains can communicate and build bridges that solve interoperability.
Ethereum just like any blockchain network can become a partner in AION blockchains. The hundreds of blockchains that will turn into thousands in the future can be linked and combined, this framework is being given by AION, well, also others.
The only problem is that a lot of people who know less are okay and absolutely in love with Ethereum, they feel that this is enough. This may not hamper growth, but it does confuse the public a little.