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Aergo operates as a blockchain infrastructure provider. The protocol enables developers to create hybrid Dapps that can function across both public and private blockchains. This approach provides more flexibility and empowers developers to be more innovative with their creations. This all-inclusive nature of this network has earned the project the nickname the “blockchain for everyone.”
What Problems Does Aergo Attempt to Fix?
There are many problems that Aergo was built to help prevent. For one, the network helps to alleviate some of the compartmentalization currently facing the blockchain sector. There are thousands of decentralized networks but most lack the capability to communicate data and value securely.
Aergo’s technical structure makes it ideal for these tasks. The protocol was designed to provide smart contract programming for developers in a streamlined manner. This developer-friendly approach can be seen throughout the project. Users enjoy benefits as well including high-speed transactions, enterprise-grade scalability, and performance. To accomplish this task, Aergo leverages a serverless cloud setup via blockchain.
Scalability Concerns
Scalability issues continue to plague the market. Protocols like Ethereum are currently suffering from record-high gas fees due to congestion. Scalability issues damage a network and prevent users from taking advantage of its best characteristics. The platform uses a scalable architecture to provide a stable high performance alternative.
Lack of Interoperability
Another primary concern for the developer behind the concept was interoperability with existing business systems. Enterprise clientele are unlikely to give up their current systems. As such, it’s advantageous to make the protocol easy to integrate into existing third-party applications as possible. This strategy enables the platform to connect and engage the current business systems seamlessly.
Benefits of Aergo
Aergo is an open-source project that brings a lot of advantages to the market. For one, it provides enterprise clientele with secure decentralized infrastructure at a reasonable rate. The protocol enables developers to design, build, and manage full decentralized applications that span across multiple blockchains.
Hybrid Blockchain
The term hybrid blockchain is used to describe Aergo because it has the ability to communicate between permissionless and permission networks. The protocol was optimized to service these networks while providing low-cost services. This capability is ideal for next-gen dapps because it enables developers to maintain a higher level of security when requiring sensitive data.
Data Handling
Another major advantage of this approach is its overall programmability. The network supports SQL which is a well-known language in the business sector. As such, the system helps developers join the blockchain revolution and create new and more immersive Dapps with less effort.
How Does Aergo Work?
Aergo combines a variety of advanced and familiar toolchains to provide developers with everything they need to make systems. The protocol operates as a smart contract platform for decentralized applications that supports the latest DeFi services and features. As a fourth-generation blockchain network, the system has state-of-the-art security and scalability on par with the top-performing protocols in the market.
Lua
To create Dapps, developers program using Lua. Lua is based on SQL which makes it very easy to learn for developers. Notably, the language is already in use in the video gaming industry. Notably, some of the titles that were built using this language include World of Warcraft, Angry Birds, Age of Conan, and many more.
Consensus
Another unique aspect of Aergo is its dual consensus mechanisms. The protocol services both private and public blockchains by using different consensus systems for each. This structure helps the network remain responsive and provides more security when interoperating between other networks.
Private Blockchains
Private blockchains are networks that require permission to enter. These private networks are used mostly for commercial and industrial applications. These systems use the Proof-of-Authority consensus mechanism powered-RAFT algorithm to remain secure on the platform. Private blockchains can be found in use today by banks, governments, and other commercial entities.
Public Blockchain
Public blockchains are the type of cryptocurrencies you are most accustomed to seeing. Networks like Bitcoin operate in a permissionless manner. Network users can join and leverage all the aspects of the platform without any approval. Aergo uses a Byzantine Fault-Tolerant Delegated Proof-of-Stake mechanism to secure public blockchains.
This structure improves scalability and enables regular users to secure returns by staking on the network. Staking protocols are very popular because they are low risk and provide consistent returns. You can stake AERGO to secure passive income. Your rewards are paid out in Aergo which makes it possible to enjoy compounding yields.
AERGO
AERGO is the main utility token for the AERGO protocol. The token can be used to pay fees, execute smart contracts, staking, and sending value internationally in a frictionless manner. Notably, AERGO is an ERC-20 compliant token that lives on the Ethereum blockchain. There are 500,000 AERGO tokens slated for release throughout the life of the project.
History of Aergo
Aergo has been a project to watch for traders since day one. Notably, the system made headlines because it was built by Samsung-backed South Korean blockchain technology company, Blocko. The platform was able to leverage the experience and network of its backing firm to secure major partnerships early on. Today, Aergo has some reputable clients in the industry including Shinhan Bank, Hyundai Motors, and Korea Exchange.
How to Buy Aergo (AERGO)
Currently, Aergo (AERGO) is available for purchase on the following exchanges.
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Uphold Disclaimer: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.
Coinbase – A publicly traded exchange listed on the NASDAQ. Coinbase accepts residents from 100+ countries, including Australia, Canada, France, Germany, Netherlands, Singapore, the United Kingdom, and the United States (excluding Hawaii).
Binance – Accepts Australia, Singapore, the UK, and most of the world. Canadian & USA residents are prohibited. Use Discount Code: EE59L0QP for 10% cashback on all trading fees.
Aergo – Enterprise Hybrid Blockchains Fill the Niche
Hybrid blockchains like Aergo continue to help mend fractures within the blockchain market. These systems make it simple for large firms to leverage the efficiency and cost savings of blockchain systems. Aergo is pioneering the enterprise hybrid blockchain market. As such, you can expect the project to continue to garner attention moving forward.