AERGO – When Enterprise Developers Have Full Right for Borderless Creation+
WHAT IS AERGO?
Blocko is a company who are experts in providing business solution based on blockchain in Korea. Coinstack is the well-known private, permissioned enterprise blockchain service offered by Blocko. However, the incompatibility of Ethereum Virtual Machine (EVM) and upper limit of performance of Bitcoin protocol with the enterprise architecture makes them to create another project which called AERGO. According to them, AERGO is a “Blockchain fuel for autonomous business” and “proposes to be 4th generation — enterprise ready — blockchain protocol combined with an IT platform that uses advanced technologies.” With AERGO platform, enterprise developers can easily customize their dApps and Blockchains on booth permissioned and permissionless chains
TECHNOLOGY
As aforementioned, AERGO platform is built to solve the problems from Coinstack which is not suitable for enterprise developer’s needs and requirements anymore. Moreover, because the main customer of Blocko is enterprise, thus, they need to create more flexible blockchain architecture for the developers easier to adapt. AERGO will help them solve the problem by its state-of-the-art and innovative architecture. They call it AERGO Chain, which is a highly scalable chain and can achieve +1 millions TPS. The chain will use Consensus Algorithm (DETERMINISTIC DPOS (DELEGATED PROOF OF STAKE)). So what is the secret behind make them confident that they can achieve that high number? The reason is that they use 3 various approach for achieving high scalability which are:
- Domain partitioning: Domain-based partitioning is the most basic scalability strategy used by AERGO. Domain-based partitioning is achieved through the distributed version control (DVC) functionality of AERGO
- Scale out: AERGO’s scale out strategy depends on the functionality provided by AERGOFS
- Scale up: The most direct and simple approach that AERGOFS seeks to utilize for scalability is through optimizing a single node. In order to make each node as efficient as possible, AERGO nodes are intended to be equipped with an efficient networking stack and an optimized storage engine for enhanced I/O.
For AERGO Chain, the developers can deploy dApps in the cloud, then they can decide to use whether private or public blockchain or even both.
One of another interesting part of the project is AERGO Hub. AERGO Hub refers to “a blockchain hosting service that acts as a the public interface for building, testing deploying and managing independent blockchains based on AERGO Chain.” AERGO Hub is an equivalent of Github where you can write your code and all. If you already knew Github, then you should be familiar to AERGO Hub. AERGO Hub contains git-like private repositories which only allow users with adequate permission to access ledger data. On the other hand, AERGO Hub also includes git-like public repositories which offer transparent for everybody to read and write or even selectively allow different permissions to anonymous users. The below is an illustration of AERGO’s repository architecture:
Besides, AERGO Team also offer a new smart contract platform, which use tools and languages familiar to enterprise developers, called AERGOSQL. Therefore, enterprise developers can easily use SQL and common script languages to work on the platform.
AERGO Token is the utility token of the platform, which can be used for:
- DPoS consensus algorithm
- Smart Contract
- Access AERGO Hub
- Purchase peer-to-peer computing assets
- Staking
TEAM
AERGO Team consists of 6 people from Korea, 1 from Hong Kong, 1 from US and 2 from UK. All of them have a very solid background. Some of the core members are:
Phil Zamani - Chairman Aergo Foundation - COO Blocko Inc. He is a veteran business manager with over 20 years’ experience in building businesses using leading-edge open source solutions and now blockchain - with an unusual combination of strategy, business and deep technical capabilities. He is Experienced and successful in both disruptive small start-ups and large global companies.
Hunyoung Park - CTO at Blocko & Board Member at AERGO. He is Project Leader of developing 3 data processing products - (Infinidata, Zetadata, Anyminer) and Project Leader of developing 1 blockchain platform - (coinstack). He has experienced in Go/C/Linux/Unix environments
Roderik van der Graaf – Board Member of AERGO, Founder of Lemniscap, an investment and advisory firm in the blockchain space. He has 7 years of private equity/venture capital at Caldera Pacific and KCP Capital
With respects to Committee Heads, Jane Lee and Alison Shim have rich experience in charged of Strategy Consulting at Accenture, which is very big company with more than 300,000 employees
Regarding Advisors, there are Vincent Zhou from FBG Capital (Founding Partner) or Sinhae Lee from GBIC, leading blockchain investments and accelerating robust projects and many more. Almost is from very reputable companies.
ROADMAP
AERGO has not released prototype yet but they have a very clear roadmap from now until 2019 Q3, when they launch their AERGO Hub and AERGO Marketplace. Besides, their public network (main net) will be launched in 2019 Q1
ADVANTAGES AND DISADVANTAGES
Advantages
The very first and also biggest advantage of AERGO project is Blocko, their parent company with a huge customer database. These customers will soon move to AERGO project right after the mainnet is launched. Secondly, the combination between public and private blockchains into one for enterprise use-cases is really potential, especially, there are not so much other projects out there giving the same idea. Finally, we can say that this is an all-star project with solid background from core team members.
Disadvantages
Firstly, they do not have prototype yet. The next thing need to be considered is that although Blocko is famous in Korea, but western people may not hear too much about them. This issue may makes customers from Europe and US prefer using similar products from IBM or SAP to AERGO’s.