What is AERGO and Why They Did Not Conduct any ICO?
While Blockchain is steadily conquering the world, it is too soon to speak about its mass market usage. Though the benefits of blockchain are obvious (security, transparency, trust), indeed, not many businesses can reap them. Why? There are not many blockchain implementations today because the employment of distributed ledger databases comes with many inevitable problems such as:
Expensive creation, embedding, and hosting of blockchain for companies
Inability to tailor blockchain for specific needs of a specific organization
Poor scalability of existing blockchains
AERGO wants to disrupt this situation, enabling businesses to enjoy all the advantages of the blockchain technology without any stress related to its fusion with enterprise IT-systems.
What is it all about?
AERGO is essentially a 4th-gen, enterprise-ready blockchain protocol loaded with an IT platform. Its goal is to help businesses to deploy the distributed ledger with ease and to get autonomous, eventually, fostering the common usage of Blockchain technology.
In short, it is a holistic platform where everything a decentralized application needs to run is offered, where organizations and programmers would be able to easily write, set up, and maintain apps on the blockchain within the cloud, making enterprise adoption easy and painless. Businesses will also be provided with an option to select from the public, permissioned or hybrid chains (a configuration incorporating features of both public and permissioned/private blockchains).
Project creators themselves call their brainchild “Decentralized trust at scale” and claim that AERGO will process over a million of transactions/sec, consequently, solving the critical problem of Blockchain – its ability to scale smoothly and rapidly.
AERGO is a platform, allowing programmers and enterprises to construct new advanced applications, softwares, and even whole ecosystems by using their data in a shared trusted decentralized architecture. This platform is robust and can scale effectively to fully satisfy ever-increasing business requirements.
AERGO comes with a marketplace to buy or sell products created on the base of the platform, such as algorithms or softwares.
In fact, AERGO comprises a scalable, enterprise-grade blockchain protocol, a well-understood programming language SQL, IT integration APIs, and an SDK for developers – all backed by a framework for managing and deploying decentralized apps. Thus, with AERGO, clients will have everything it takes to install, orchestrate and utilize these dapps.
Who and how can utilize the platform?
Enterprises. AERGO aspires to help organizations integrate and run the blockchain technology so that they can design applications, perfectly customized for their unique demands. The solution offers an intuitive blockchain configuration and a simple programming language (SQL) for writing apps which are meant to autonomise business procedures. If enterprises and IT developers decide to contribute their recourse or take part in the network as node/service providers, they will be compensated with AERGO tokens.
Customers or node consumers use nodes from AERGO Hub to compose their own blockchains.
Developers. They are provided with a framework to create and introduce blockchain solutions into the real-world use. AERGO will have its own virtual machine called SQLVM with SQL as the programming language because it is traditional and familiar to most developers.
Node providers. They are those who use AERGO Hub and get paid with crypto for supplying their physical nodes.
AERGO Architecture
AERGO Chain can be regarded as the public Internet of Blockchains for the development of novel business solutions & services. It acts as a full-fledged operational system.
AERGO HUB serves as cloud storage in web services and is intended to connect secure dapps with AERGO Chain.
AERGO Marketplace presents a place for trading computational resources & products developed on the top of AERGO.
Tokenomics
AERGO founders were not very inventive when creating a name for their token and labeled it just AERGO. It is a utility, ERC20-standard coin, suitable for many things to pay for in AERGO network including, but not limited to, a payment unit in AERGO Marketplace, a method of payment for consultations and technical assistance from Blocko Inc. (a South Korean company that birthed AERGO), a method of compensating node providers and developers, etc.
And now, we have come down to the main point of our article: why does not AERGO have any ICO? The matter is that AERGO and the company behind it cooperate with some big names who gave it a capital, pretty sufficient for the further development and marketing, thus delivering the project from a necessity to plunge into equivocal public token sales. Who are these generosity givers? Exactly the following:
BLOCO – the main developer and supporter (the founders of COINSTACK)
Lemniscap – investment and advisory
Chainfund Capital – investment
BLOCK CRAFTERS CAPITAL – investment
FBG Capital – advisory services about digital asset management
JRR CRYPTO – investment banker group
GBIC – investment
Decrypt Capital – investment
They have kicked off the AERGO public TDE (token distribution event) and rewards campaign to hand out tokens to the most impactful members of the AERGO community and to those who created some value for it. More information about this event as well as rules of participation are available here.
Final thoughts
The fact that AERGO is not going to execute any ICO but will conduct a TDE instead proves self-sustainability of the project and far-sightedness of its heads. It also seems a part of their brilliant strategy – to ensure a steady raise of the AERGO token value through not having a public token sale. Such an approach may cause the AERGO price to soar to extreme heights. At the same time, AERGO is proposed and developed by BLOCKO – a corporation that has already launched many successful blockchain products for such giants as Samsung, Microsoft, IBM, and Lotte Card. Given their extensive expertise and a support from reputable investments funds, there is no doubt left that they will deliver on their promises to create a truly genuine, yet easy-to-use, blockchain framework for enterprises.
This post has received a $61.37 % upvote from @siditech thanks to: @cryptotaofficial.
Here's a banana!
You got a 28.11% upvote from @emperorofnaps courtesy of @cryptotaofficial!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!