'Everyday' blockchain has different needs as compared to enterprise blockchains. An enterprise blockchain can fit well as a public blockchain but try developing a public blockchain into an enterprise one and you’ll find yourself coming up short.
This is because, enterprise blockchains tend to require more computing power and storage to function as compared to 'everyday' blockchain systems, they also need to be able scale quickly, both vertically and horizontally to handle the complex tasks thrown at it, this means enterprise blockchains need a significantly higher number of nodes as compared to other blockchains. Lastly, although it's true blockchain was meant to be built upon decentralised trust, to run transactions as fast as current centralized models and just as securely and reliably, enterprise blockchain needs to hold some control over some of the functionalities inside their infrastructure.
It's been noted that having a central administrator not only prevents downtime it also reduces the amount of energy resources required to run the system in the long run.
The thing is designing and developing a scalable, interoperable, secure and reliable system is a very complicated process. Not to mention expensive. But it must be done if the world is to gravitate towards a more decentralized economy.
AERGO was founded to fulfill this task and although it sounds simple on paper, the technologies involved to put the strings together are incredible.
Let's explore some of them, shall we?
First, we have Smart contract technology.
Without an enforcer of contracts, transactions would fail, and platforms would descend into anarchy. It's why we needed intermediaries in the first place. AERGO used a multi-paradigm infrastructure to develop its smart contracts, meaning they support more than one programming paradigm.
The fact that AERGO's smart contracts allow developers to work with different styles and constructs plus the fact that every contract has an open interoperable interface means any contract that's written either in Fabric Chaincode, AERGOSQL or the Ethereum Virtual Machine can work great with each other. Through AERGO, smart contracts can be written using a structured query language syntax and data managed in the same way.
The AERGO smart contracts also have a buddy to help them index and manage any unstructured data AERGO throws at it. It's called AERGOFS, with the FS being short for a file system. The AERGOFS allows smart oracles, the factors that enable AERGOSQL to take in data from the Active Directory as well as trigger instances like emails or SMS, to run on the server environment as well as dApps from the client side.
One other piece of technology that will prove useful is the platforms take on repos.
Repositories.
With AERGO, developers or enterprises can create permissioned (private) repositories or permissionless (public) repositories to oversee any projects that need to completed and just like any Git repository from Bitbucket or GitHub, AERGO's repositories each contain a set of - commit objects - as well as a - set of references needed to commit objects - the only difference is, public repos are free to be read or written by anyone, although there is a function to grant permissions to specific users whereas private repos can only be accessed by specific individuals.
Coinstack.
AERGO also builds upon the tried and tested Coinstack implementations provided by Blocko. Coinstack is great because it provides developers with all the tools necessary to design, develop and deploy dApps. Just like AERGO, Coinstack is also interoperable because it supports development in different languages, languages like Java, JavaScript, Golang and python feel right at home inside the development environment. This trait is one of the reasons Coinstack has been widely adapted, now supporting over 2 million daily users.
Building for speed and scalability.
Let's use bitcoin's example, once a transaction is broadcasted onto a bitcoin network it will first be queued for verification, so all the transactions happening inside the network will remain inside an unconfirmed pool or transactions that require verification until a miner decides to add it to the block.
Some miners will tend to prioritize transactions based on the amount of fees they carry and the space they will take up. If a transaction is branded LowPriority it will be added to the blocks, 20 blocks later, so approximately 3hrs 20 minutes later which is insane.
These is one of the reasons why bitcoin only clocks 7 transactions per second. Ethereum only manages 20. These speeds are not feasible especially for an enterprise. Now sure once the lightning network is rolled out speed of transactions inside the network will increase but who knows how many problems that will bring.
AERGO's parallelism approach just makes more sense in terms of performance and speed. Parallelism is the method in which data is spread out across different computing nodes inside the participating system, a request us then sent to allow for plurality of the transactions each with extra data as a new block the transactions are then accessed and built based upon their dependencies, this is thanks to their deterministic transaction tree.
More about scaling?
AERGO depends on three approaches of scalability.
The first, Scale Up scalability, is achieved by utilizing one node to its maximum capability, to make this strategy work all the nodes on AERGO's structure function on a multi-thread architecture to fully utilize a multi-core environment they also have a planned networking stack and an optimized storage engine.
The second way it scales is by its Scale Out strategy, in this one, multiple nodes work in tandem and the AERGOFS functions as a storage layer to reserve an infinite number of blocks and indices, it also functions as an object storage where as it provides developers to fast secure and highly scalable data storage infrastructure which can also be used to reserve and retrieve any amount of data at any period of time. This system is meant to boost the advantages of scale while also making web scale computing simpler for both developers and enterprises.
Some details on AERGO's Roadmap.
300,000,000 of the 500,000,000 tokens will be divided between the community members and the sale. The other (200,000,000 AERGO tokens) will be divided as follows: 125,000,000 will be left for the reserve, 10% (50,000,000) will be given to the advisory team. The remaining 25,000,000 will be divided amongst the employees of the company and members of the company team.
Distribution aside, AERGO has a lot in store for its end-users (both developers and enterprises), especially for 2018. Already, the year 2018 has seen the development and deployment of the AERGO SQL, the company's SQL based smart contract engine as well as the beta version of the AERGO chain. Developers and enterprises will however need to wait till the start of 2019 to try out the public network, which allows dApps to operate properly as well as promote transaction privacy within the AERGO chain.
The team behind AERGO is looking for some support to make this happen.
You can support AERGO by creating useful content about the company for rewards. You can earn up to $2000. Alternatively also participate in the company's token sale by getting yourself some Tokens.
One token costs $0.20 USD.
So far...
Close to 145,000,000 AERGO Tokens of the total 300,000,000 have already been sold raising about USD $28,832,654. The company has already achieved all their private sale funding goals and is almost at their hard cap target of $30,000,000 and they need your help crossing that line. Interest is high though, according to a medium article the company has already been sent more than 550 screened inbound requests from enthusiasts looking to fund the entire project so if you’re looking to get in. So, get in Now!
Here are some important links for you.
You can jump on any one of them to find more resources or discover more information about the company, their technologies and anything else they have planned.
Just in case you’re in a great mood, don't hesitate to follow and share your preferred AERGO social network of choice to some of your friends or acquaintances, i can guarantee you won’t regret it.
Technical whitepaper
The Official whitepaper
Website
LinkedIn
Twitter
Telegram
Telegram ANN
Medium page
Important Articles
Medium Article 1 / Announcing distribution event
Medium Article 2 / Kicking of Public TDE
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Disclaimer: Every article on this blog is written from personal opinion and therefore should not be taken as a financial advice by any means. Like in every other investments opportunity, Do Your Own Research (DYOR)
