The blockchain is an open ledger which automatically keeps records of transactions between two parties in a verifiable and permanent manner. Blockchain contains a list of secured records that are linked using a special cryptography. Every block is usually composed of a cryptographic hash of the previous block, a transaction data and a time stamp. The whole system works in such a way that data on the blockchain cannot be distorted nor modified.
The blockchain is highly secure by architecture and has a decentralized base (meaning it is not controlled by any government or institution). It can be used for recording medical reports, events and management records such as identity management, voting, documentations amongst other things.
Blockchain eliminates a number of risks that accompany storing data in a central location by holding data across it's peer-to-peer networks. These peer-to-peer networks do not maintain central points of vulnerability which hackers may take advantage of. Hence it lacks a central point of failure.
With the blockchain, it is possible for anyone anywhere, to store data and run programs on the platform. Programs run on the blockchain are approved without objection by all users to create security, fairness and coherence.
The AERGO platform is a disruptive innovation blockchain infrastructure merged with advanced IT inventions to provide decentralized application technologies and services that can guarantee secure delivery. Aergo is designed to serve businesses, developers and IT service providers. It allows businesses and developers to build either public or private blockchain applications that meet the needs of its owners.
Aergo network users enjoy flexibility when developing applications which allow them satisfy their desire. Aergo also targets at helping businesses cut down cost of running a physical blockchain infrastructure themselves.
Coinstack is Aergo's core technology which is designed by Blocko Inc. A blockchain and IT service company that has significant presence in Hong Kong, South Korea and UK. Coinstack has a user base of about 25 million. Blocko has been employed to design some of the integral technologies to be deployed on the AERGO platform.
Some of which include a thorough IT integration and support services to serve clients who may want to use new products and business services by Aergo. Others include a swift blockchain protocol, a first of its kind potent SQL smart contract, improved IT integration APIs and simple developer tools. All these will aid the decentralized application (dApp) in creating a platform that grants developers and businesses the needed leverage to utilize applications optimally.
Aergo intends to offer businesses the opportunity to access both the private and public blockchain while developing new innovations.
Today, businesses that try to employ the blockchain are always faced with challenges of which some are; lack of reliability where public blockchains have to undergo frequent hard forks. If not well managed, this could cause business failure and make the IT network vulnerable and susceptible to DDOS attacks.
Another major issue is software development which can be cumbersome. Most businesses are centered on their projects that they do not give developers the opportunity to experiment and try new languages.
Presently, the level of privacy offered by public blockchains is not enough to satisfy what businesses require. There is a need for a more robust approach that ensures data security and information protection.
Though the available blockchains have been built to handle scalability, there are still situations especially in business where a sharp increase in demand for a product or service surfaces unexpectedly. This may require additional IT resources to handle such a challenge. An immediate increase in price of a stock will naturally attract high volume of buyers. This is an example of a situation that requires adequate resources to keep everything in check.
One other issue is the interoperability constraints as a result of numerous private and public blockchain infrastructures that operate differently, and cannot be used across the diverse platforms. This reduces the operability level and limits coherence among blockchains.
Aergo aims at capitalizing on the contemporary cloud system to offer an operational ecosystem of dApps for developers, businesses and IT specialists. While offering an opportunity for participants to design innovative services and business solutions. This will be done on a very safe and easy to use open blockchain called AERGO Chain, which will bridge the gap existing between private and public networks.
The AERGO token will serve as the utility token to fuel the Aergo platform among other purposes. It will be used as a medium of exchange within the platform to run the AERGOSQL smart contract and DPOS consensus algorithm. Payment for AERGO Hub Services, Blocko's Coinstack 4.0 technical support, services and assets on Aergo marketplace, Aergo domain are among other uses of the token.
Holders of the token will be granted access to purchase products and services on Coinstack 4.0. The total token supply is pegged at 500 million Aergo tokens to be issued according to the table below.
For more information about AERGO, you can visit following useful links:
Website: https://www.aergo.io/
Whitepaper: https://paper.aergo.io/AERGO_Whitepaper_v5.2.pdf
Github: https://github.com/aergoio
Telegram: https://t.me/aergoofficial
LinkedIn: https://www.linkedin.com/company/teamaergo/
Twitter: https://twitter.com/AERGO_IO?lang=en
Medium: https://medium.com/aergo
Writers steemit link: https://steemit.com/@donrep