The bear market is still in its bloom, with predictions becoming more and more ominous and only the true enthusiasts still following the space. This being said, I still keep on finding great ventures that have potential to turn into gems when the bull market starts. So today I'm going to review the AERGO Project.
The Idea
AERGO offers the very ambitious 4th-generation enterprise-ready blockchain protocol with an advanced IT platform that could be used by developers, businesses and IT suppliers. In essence, that means that platform users will be able to build and deploy their own blockchain dapps on the cloud. AERGO offers public and private chain capabilities to its clients. Sounds familiar, but the difference is that AERGO seeks to create "a fully-featured ecosystem to enable and promote cooperation amongst the many stakeholders involved" with the following key features:
The Technology
AERGO will build its ecosystem on the COINSTACK platform created by Blocko, a South Korean company specialized at enterprise solutions that have successfully deployed corporate blockchain systems for 20 companies serving more than 25m users. AERGO will feature the following core features:
AERGO Chain, a protocol that runs AERGOSQL, a new smart-contract engine allowing users to easily set up smart-contracts.
AERGO Hub, a public interface for the AERGO Chain that will connect dapps with the latter.
AERGO Marketplace, a shopping platform where users will be able to purchase dapps, computing resources and other features to be used on the AERGO Chain.
The Token
AERGO Token is a utility token required to be used on the AERGO platform. It will serve the following purposes:
● running smart contracts;
● using DPOS consensus algorithm;
● payment method for Blocko’s technical support on Coinstack 4.0;
● payment method for AERGO Hub services;
● payment method for services and assets on AERGO Marketplace;
● payment method for the AERGO domain.
The total supply of AERGO Tokens is 500m. Thirty per cent of the tokens were allocated for the token sale, which was concluded in the private round. The token was priced at $0.20. The amount of funds collected was $28.8m. Therefore, the project basically already met its funding target.
To reward its community, AERGO decided to make a RewardDrop, which is essentially the only way to become a part of the project for an average Joe. Over 3m dollars worth of tokens will be distributed among the project supporters.
The Team and Advisors
AERGO has a truly stellar team with its members having many years of experience at top companies. I won't mention everyone here and will just list the most experienced professionals.
Chairman of the Board Phil Zamani is the incumbent COO at Blocko and used to serve as Vice President for Red Hat (Linux) and Senior Vice President at Deutsche Telekom among others. COO Jane Lee is also COO for Blocko and spent more than six years as Strategy Manager for Accenture. One of the committee heads Alison Shim is the chief innovation officer with Blocko and served 5 years as strategy consultant at Accenture. Most members of the technical team come from Blocko too.
Advisor team is full of notable people as well. Eddie Alleyn worked for the UK Foreign Office and Ministry of Defense for the total of over 20 years. Shuoji Zhou is the Founder of the famous investment fund FBG Capital. He also worked for Oracle and IBM in the past. Pierre F. Suhrcke spent 18 years as Managing Director of Deutsche Bank. He also held senior positions at a bunch of tech companies all over the world. Sinhae Lee is a partner at blockchain investment funds GBIC and Block72. She was Director of Business Development for Coin Inc. which was acquired by Fitbit in 2016 and spent 4 years at McKinsey.
The Product
The team has already presented AERGOSQL, and AERGO Chain beta is expected to be launched in Q3 this year. The testnet will follow in the end of the year, with the mainnet scheduled for released early next year. AERGO Marketplace is expected to be presented in Q3 2019.
Conclusion
I certainly love AEGRO for the following two reasons. First, it has support of Blocko that has already implemented a number of blockchain projects for corporate clients. Second is the idea of creating a scalable blockchain ecosystem. With the adoption being one of the main stumbling rocks for most of the projects, these two points can really make AERGO one of the very few ventures finding its use cases very soon. The adoption, in turn, will lead inevitable growth. So, considering there is not going to be any public sales, I strongly advise you to take part in their community reward program in order to be able to jump in while you have this opportunity.
More info about AERGO:
AERGO website: https://www.aergo.io
AERGO Telegram: https://t.me/aergoofficial
AERGO Twitter: https://twitter.com/aergo_io
AERGO Whitepaper: https://paper.aergo.io/AERGO_Whitepaper_v5.0.pdf
This article is not a buy/sell recommendation. I am not a financial adviser and you should do your own research before investing in any project.
Thanks for reading, stay tuned for other reviews and feel free to upvote, resteem and follow me!