INTRODUCTION
Arguably, the blockchain offers the most intuitive, safest, open and reliable means for developers as well as enterprises to get value in a more open and reliable future shared networks. Blockchain serves as the driving mechanism.
For the very first time in a long time, blockchain allows enterprises to create a decentralized architecture from the internet where the consensus across the whole network can be achieved safely and efficiently without a third-party involvement.
Blockchain-driven systems are designed to allow for the development of a simple, global and completely reliable and lasting record of digital assets and related transactions. However, as great as the blockchain is to enterprises, it has its own shortcomings.
For instance, businesses will most probably find it herculean to incorporate blockchain into their business plan. The thing is in recent past, growing acceptance of the blockchain technology has led to several innovations as well as implementations of open and trustless blockchains like Bitcoin, Ethereum amongst others.
Such trustless blockchain presents exciting features but has a lot of challenges as regards private company building a blockchain framework. For several reasons, the companies normally require a measure of regulation and privacy on their blockchain platform, as such what suits them the most is a private and encrypted blockchain. However, building such a private structure translates to huge transaction cost, high technicalities, risks and doubts as regards the outcome.
In an attempt to fast-track the adoption, ease the implementation process and offer an enhanced solution, AERGO develops a present-day “enterprise-suited” blockchain protocol together with an IT network through the use of sophisticated technologies.
THE AERGO PLATFORM
AERGO comes with a 4th generation ‘enterprise-oriented' blockchain that is capable of working on both public and private blockchain platforms. AERGO offers to enterprises the much-needed dynamism in building and using blockchain applications that offer high speed, scalable and incredible performance.
AERGO is built to be a flexible, plugin-oriented smart contract facility that affords clients to execute smart contracts designed for Ethereum Virtual System or the AergoSQL. By working with Smart Oracles, users of the network enjoys access to smart contracts that consume data with external services or internal databases and initiate events.
Core Elements Of AERGO Platform
The AERGO platform consists of three basic central elements.
Firstly, the AERGO chain. The AERGO chain is an open internet of blockchains. The AERGO Chain is a recently-developed worldwide open network of enterprise blockchains driven by node providers.
The aim is to host AERGOSQL which is also a newly added SQL smart contract system that allows for the easy development of sophisticated smart contracts in a bid to give intuitive enterprise products and services.
The second core element of the AERGO platform is the AERGO Hub which is an open interface to the basic AERGO Chain. The AERGO Hub seeks to work alongside and link safe decentralized applications with AERGO chain.
The decentralized applications created will be able to work on either of the AERGO Public Repository which is a shared, public and decentralized facility for decentralized applications or the AERGO Private Repository which is a private, regulated and safer facility for decentralized applications.
The third core element is the AERGO Marketplace which is planned to be a megastore for software apps, computing facilities as well as other services designed to enhance the AERGO Chain. AERGO Marketplace Software, computing as well as other services are designed to run on or work together with AERGO Chain and the marketplace will be accessed through the AERGO Hub public interface and run through AERGO Horde. On this platform, computing facilities like Storage Computing Power and others can be bought and sold.
The developers of AERGO are planning to introduce a broad ecosystem that consists of related decentralized applications as well as service providers that uses safe cloud delivery patterns.
AERGO seeks to allow businesses and developers to structure, develop and use their own blockchain applications in the cloud and as well enable creators to alter their blockchain and applications to their particular needs by offering the choice to be deployed on both public and private ecosystem.
The team equally intends to relieve firms from running huge transaction costs by removing the need for setting up physical facilities as all will be based on a safe cloud-based shared network. The core technology of AERGO core is based on COINSTACK2 built by Blocko Incorporation and the team plans to leverage and develop on the current AERGO platform and offer a total framework for building and deploying decentralized applications on a safe, very efficient cloud framework.
AERGO seeks to allow businesses and developers to easily set up and use their personal blockchain and decentralized applications on both trust-based and trustless chains. The devs will be able to build their own applications on private chains, open chains and sophisticated configuration. AERGO protocol equally settles the challenge of IT incorporation and software building for businesses and solves the issues of scalability and interoperability problems.
Concurrency Regulation On AERGO Network
Concurrency control is a vital role of the blockchain platforms. This feature ensures that the DPOS consensus algorithm is completely predictable when assigned within a blockchain network schedule. The essential block creates transactions.
AERGO Chain will seek to offer two means for transaction arrangement with time.
The two are block-level serialization and the pool-level serialization.
In the block-level serialization, each layer of the blockchain is made up of blocks and the transactions can be arranged by setting each block on the other. AERGO seeks to offer MultiVersion Concurrency Control (MVCC) which is premised on block heights.
Immediately a block height is specified, it is possible to offer succeeding reads through several nodes in the store. AERGO’s MVCC role seeks to offer both a snapshot separation that is utilized for consistent reads as well as a form of optimistic blocking via row or document separation. MVCC can only be feasible for a block-stage arrangement.
Pool-level arrangement
People accessing AERGO nodes can leverage on the deterministic node of the prearranged blocks through assignees. This is a feature offered by the crux DPOS consensus. Through this, execution of synchronized transactions, offering a reliable assurance on completing finality.
As each assigned node in an AERGO network can use equal arrangement in a bid to analyse network new transactions in the memory hub and build recent blocks, clients need not tarry for block interval completion to get the result of transactions. Consequently, the latency of processing a transaction reduces and gets more swiftly processed.
AERGO TOKEN INFORMATION
The AERGO token is the local currency proposed to be used on the AERGO blockchain platform. It seeks to offer a plethora of several functions and will usually be utilized as a means of exchange in the AERGO network. Users who have the tokens will be able to access a number of services open to a member of AERGO platform.
The token is an ERC20 standard type token and it is Ethereum-based with a total supply of 500,000,000.
30 percent of the token is allocated for sale, community incentives and strategic partners also account for 30%, 25% is reserved for use by the token issuer, 10% goes for advisors and key backers, while the remaining 5% goes for employees of token issuers and affiliates.
N/B: There is no public sale and as such no whitelisting of any kind.
CONCLUSION
The team behind the AERGO ecosystem identified the problems with the current blockchain platform in enterprises and consequently developed an intuitive blockchain network that is safe, fast and dependable that uses high-end technological infrastructures.
TO KNOW MORE ABOUT AERGO
Join the Telegram Group: https://t.me/aergoofficial
Follow on Medium: https://medium.com/aergo
Follow on Twitter: https://twitter.com/AERGO_IO?lang=en
Follow on LinkedIn: https://www.linkedin.com/company/teamaergo
Website: https://www.aergo.io
GitHub: https://github.com/aergoio
Whitepaper: https://www.aergo.io/paper