INTRODUCTION
More often than not, business establishments that wish to incorporate and utilize public and private blockchain networks are often faced with a myriad of challenges. These problems partially explain why most enterprises have come to adopt several mass-deployed in-production networks deployed on blockchains in many firms.
For instance, most blockchain-based platforms are not reliable as they do not have the total control over their IT facilities and this generates concerns for businesses and enterprises. Open blockchains have witnessed repeated ‘hardforks’ where the decentralized applications keep working on the recently-upgraded version of the protocol. This is potentially harmful to business enterprises as it can negatively affect the user experience.
Furthermore, the transaction fees on blockchain are quite volatile and can change anytime. This unpredictable nature of the transaction cost poses difficulties for business applications on the platform as it is difficult to tell exactly what it will cost to run their enterprises on blockchain and this has led to a culture of turning down new technologies.
Yet another challenge of the blockchain is the incorporation into business enterprises. For quite a long time, firms of different classes have enhanced and transformed their businesses by leveraging on modern technologies.
However, this has flowed in bits and as such, enterprise facilities, therefore, seem to rely on several technologies and procedures. Coming up with a new technology into such a conventionally complicated system can be rather challenging, risky and costly as well.
Again, privacy issues are one big thing that most business organizations face when attempting to adopt the blockchain technology. Blockchain cannot, at present, guarantee the level of data privacy that business enterprises require. The use of encryption technology by blockchain to ensure privacy is not robust and secured enough for the nature of sensitive and confidential data that business enterprises keep.
Scalability is also a problem with the current blockchains. Businesses sometimes need to process a large volume of transactions at a time and blockchain networks that are not optimized for processing such can falter when such situation arises. This is what makes it difficult for enterprises to adopt blockchain technology.
AERGO PLATFORM
AERGO is an innovative concept and public project. It is a platform that seeks to optimize the open and private blockchains, through the use of the latest cloud architectures. AERGO seeks to develop technology and operating system that can work with a network of decentralized applications developers, curated cloud delivery associates as well as enterprise firms.
Succinctly put, AERGO seeks to develop a platform where individual parties can build new and reliable business services. The platform aims to become a distributed contemporary ecosystem developed to a high-performing safe and user-friendly open blockchain surnamed AERGO chain.
Just as we have it in the building, dynamics and incorporation of ”hybrid cloud” about a decade ago, AERGO hopes to sponsor the development of optimized blockchain-oriented products and business patterns. It plans to achieve this by using the latest technology that is executed and manifested as a user-friendly blockchain protocol. The AERGO is planned in such a way that it can be used as either a public, private or public-private blockchain network configuration.
AERGO plans to become the best blockchain platform for enterprises, a platform that links the public and private networks seamlessly. AERGO platform is designed to use core blockchain technology as well as deployment patterns that have already been established in real life instances.
AERGO equally seeks to offer and build a user-friendly, feature-loaded, multiple paradigms and regular plugin-oriented smart contract facilities to program individual business execution.
The fundamental design principles of the AERGO project include the ‘design’, ‘deployment’, ‘utilization’ and ‘handling’.
This is particularly true for contemporary blockchains of today.
AERGO plans to bring together the workability and intuitiveness of open blockchains together with the efficiency and safety offered by private blockchains. As it is in cloud computing, AERGO plans to build the technology that will allow companies to build and run their decentralized applications on a safe public platform.
At any time needed, the company can effortlessly and perfectly transfer a part of the applications to a more efficient private blockchain. It will achieve all of this without jettisoning the former public blockchain pattern execution.
In order to allow such a vast hybrid blockchain framework, new technology as well as a new data connecting framework is needed to bring together the different components of the system and ensure that they work as one. These linking proxy will allow a two-way relay between many public and private blockchain platforms.
Being able to build, compile and infuse smart contract on such a vast structure will equally be needed. This equally needs to be hosted on a very efficient and intuitive virtual machine for future and broader smart contract building.
AERGO ARCHITECTURE
AERGO plans to base on and develop on Blocko's current COINSTACK network, which is a completely sponsored business product which has been accepted by most of its current clients.
AERGO seeks to offer a full framework for building, planning and deploying decentralized applications on safe and very efficient cloud architectures.
Blocko plans to put up a mechanism and partnership ‘network’.
The major actors in the AERGO ecosystem straddle businesses that plan to use blockchain as well as their programmers, the IT experts, facilities and other related professionals.
AERGO equally plans to sponsor freelance developers who intend to use, build, promote and expand essential features and projects on the AERGO technology stack. AERGO seeks to be a public user-friendly platform that is truly open-source. The overall aim of this open source idea is to secure innovative ideas as well as projects to spread the value and utility of the AERGO platform.
Affiliates of the network will straddle special programs to assist teams and research projects to allow these new innovations.
AERGO Chain: This is an open internet of blockchain which the AERGO platform proposes to host a worldwide centralized platform of enterprise blockchains operated by node offerers. The aim is to host AERGOSQL which is a novel Smart contract machine for building complex smart contracts that can afford new business products and services. The AERGO Chain is essentially a public blockchain operating network.
AERGO Hub: The AERGO hub serves as an open interface to access the basic AERGO Chain. AERGO Hub seeks to work together with and link safe decentralized applications with AERGO Chain. The decentralized applications that are built are designed to be saved in either the AERGO Public Repository or the AERGO Private Repository. The former is a joint, public and decentralized underlying facility for decentralized applications.
The AERGO Private Repository, on the other hand, is a regulated, safe and private facility for decentralized applications. The intention is to attain access control, application safety and performance, data conformity and a highly efficient Quality of Service (QoS) which is necessary for business OT systems.
The two variants of repositories leverage on the industry-proven execution framework as well as the fact that COINSTACK is compatible with API which has been tested and confirmed by many clients all over the globe.
AERGO TOKEN
The native currency on the AERGO ecosystem is the AERGO token which is an ERC20 standard type token and it is Ethereum-based. It seeks to serve a number of purposes. Generally speaking, the AERGO token is designed to be the means of exchange on the platform.
Every service available on the ecosystem will be accessible through the use of the AERGO tokens. The total value of the AERGO tokens to be issued is 500 million of which 30 percent will be available for sale, 30 percent will go for community incentives and strategic partners, 25 percent kept back by the token issuer, 10 percent for advisors and major participants and the last 5 percent for employees of token issuers.
CONCLUSION
The AERGO platform introduces a new blockchain-based ecosystem that is most suitable for enterprises by offering a platform that is highly efficient, scalable, safe for day to day business transactions. Access to the ecosystem is through the use of special AERGO tokens which is the native currency of the platform.
IMPORTANT LINKS
Website: https://www.aergo.io/
Whitepaper: https://www.aergo.io/paper/
Telegram Group: https://t.me/aergoofficial
Medium: https://medium.com/aergo
Twitter: https://twitter.com/AERGO_IO?lang=en
LinkedIn: https://www.linkedin.com/company/teamaergo/
GitHub: https://github.com/aergoio
Writer: Achuks
Latest cloud architecture. That sounds huge