How do they claim to be able to handle up to 1 MILLION of transactions per second? This statement raises the question whether the company is legitimate. If they can execute the fourth generation blockchain, then the other statement is possible. The project is an idea that has the potential to move ahead with a clear roadmap and in line with the state of development so far.
I. The story of the formation of AERGO
First, before going “AERGO” surgery, let’s look at Blocko (https://blocko.io). Argo was built by Blocko, a company specializing in providing business solutions in Korea. Blocko is widely used by many businesses that allow dApps developers to easily on private blockchains. Many people think that Blocko knows what businesses need, but the Ethereum Virtual Machine (which Coinstack relies on) is not compatible with existing business architecture. Blocko needs to create a public network to connect all of their clients’ own strings / applications to the public blockchain. AERGO was created to provide a completely new public blockchain network, so that developers can use more flexible and scalable.
II.Technology
As mentioned, AERGO was created to overcome some of the shortcomings that Blocko is having: Blocko is working with businesses but needs the flexibility and specification to serve their needs.
With this layout, you can see what?
DD: Do you see the DD in the picture above? DDs are used to manage metadata. Distributed Data Services (DDS) is a namespace managed by its DD. It contains information including public key, validity, roles, access to objects on blockchains. Therefore, today’s management systems are lacking in blockchains that will be confirmed when AERGO is present.
CONCLUSION: DPoS is a core consensus that depends on Distributed Directory because it requires the above DDS metadata to track so nodes can discover new blocks. What is the benefit? Developers can easily use different modular consoles to meet their immediate needs.
ArgoFS (Argo file storage class) can store large files. Argo nodes can store infinite masses of blocks and act as a giant supernode here. Enterprises now have infrastructure that can be scaled down to fit the huge resources they want to use.
Why is AERGO called the FOURTH blockchain? — WHAT IS CONCEPTS?
The structure of the repository is the same as Git-a public-private model. Businesses need to be able to store sensitive data and privacy on the network without compromising confidentiality. With the git-like structure of the system and DDS tracking information maintained, only authorized entities can access the repository to view the data and access the corresponding blocks.
Blockchain is currently not perfect for existing businesses because they lack control over features and development, meaning that the current blockchain lacks good throughput and scalability. The private blockchains, though tried to match these needs, these also require a lot of infrastructure costs and lose the ability to grow at the speed of open source. With third-generation technologies, almost all public and private models are immature, many of the technologies lack the enterprise-level capabilities necessary to run real business applications. Thus, “AERGO is a fourth generation blockchain platform that is ready for businesses to take advantage of and expand both public and private blockchains as well as cloud architectures. It opens the new era of blockchain technology, where blockchain businesses can benefit from both public and private blockchain while still managing services and trading under different protocols.” The company’s LinkedIn profile explains it in detail.
The technology behind ARGO will be open source as it is actually an open and hierarchical system. AERGO uses a SQL-based smart agreement that not only allows management, but also allows the implementation of an isomorphic contract, not found in any SQL scripting language.
III. Team
When it comes to AERGO is a leading blockchain platform for businesses, the team is qualified to expand. AERGO’s research team consists of two people from London, six from Korea, one from Hong Kong and one from New York City. Founder is Phil Zamani — global head of Big Data and Cloud business models at Banco Santander, the company has 101 thousand employees, he is also senior vice president of cloud computing, single Business intelligence cloud with 55,000 employees. It is worth mentioning that he is COO @ Blocko — a leading blockchain creator in the world for business.
The research team also included Roderick van de Graaf — along with Phil Blocko’s COO and Blocko’s adviser, a consultant at Mizuho (7,000 employees), the head of the transaction office. Beom Kim is CEO @ Blocko and R & D at Tmaxsoft with 300 employees.
Hunyoung Park is the CTO and Research Development Manager @ Blocko & Board Member @ AERGO Foundation, he is the Technical Leader of Research and Software Blockchain With more than 13 years of experience in the development of a distributed database / system and more than seven years of experience in Leader / Manager positions, the Team Leader develops three data processing products (Infinidata, Zetadata, Anyminer) in the Go / C / Linux / Unix environment.
IV. System software engineer
There are two strategic strategic managers at Accenture — a really big company with over a third of the staff.
Most of the blockchain-related team members, all of whom work in Blocko, create Coinstack, a blockchain as a service solution for large businesses such as Lotte Card, Shinhan Financial Group, Hyundai. , and (20+) more. Businesses are smart, though they are not among the top 50 pre-encoded markets. Team should cultivate more experience working in the blockchain industry. However, the promise of 1 million transactions per second still needs to be questioned because AERGO’s vision also resembles another vision of Vitalik. When they show the number of one million transactions on the ICO, they have a lot of motivation to raise a lot of money, but there is a great risk that this startup will fail because they do not have enough experience in the field. blockchain.
V. RoadMap
At the very least, at the time of launching the ICO, they will have Beta. There is an opportunity for them to grow their business. At present, they have no prototype, the prospectus is just a text on the site, but has high potential because the team behind is very strong. They provide a clear roadmap, with each quarter launching a development phase that will end in the fourth quarter of next year.
In short, this project is excellent, based on the team’s experience in creating Blocko, which has been adopted by over 20 leading Korean companies, and providing distributed services. The research team is at the top of the industry. And indeed, there have been a number of projects with more than 1,000,000 TPS, so with profound experience from the team, this project may be feasible to continue.
For more information on AERGO, visit https:/ /aergo.io.