Aronium (ARO) a fast, fair, reliable and secure payment solution
On the 8th January 2018 one of the core developer ‘AroDev’ announced the cryptocurrency Aronium, a new cryptocurrency that is fully built in PHP from scratch. Besides the choice of PHP as the programming language for the implementation of the blockchain, the project has some other interesting characteristics. The mining algorithm, which is a combination of Argon2i + SHA512, supports mainly CPU-Mining but nowadays GPU-Mining is also possible, but it has the same efficiency as the CPU-Mining. Also, there is a fixed transaction fee of 0.25% for each transaction, which is a good approach against the high fees of some networks that we saw in January. And one of the main points, why this project got so much credibility, is that there is no premine. Nowadays it seems to be common, that a project starts with a 5%-10% premine as the developer’s funds. With this decision, the developers are showing that the community has everything in its hands.
The developer team started with 2 core-developers, that both have great experience in PHP and Linux administration. But there are not the only ones, the community of Aronium has some great minds, that supports the project by creating wallets, different miners and more. Because of this, the project has a great development over the time, at the start they had a simple windows-cli wallet and today they got a wallet for all common operating systems like windows and mac. But there are also wallets for the browser and android (an IOS-wallet is planned).
A reasonable question is why the developers chose PHP instead of common blockchain languages like c++, go or Haskell. The reason for the this is the popularity, the lean learn-curve and easily understand of PHP. And this makes sense, most of the current web developers would be able to understand the codebase of Aronium, on the other side for the other programming language you need much more knowledge, for example in memory management.
As mentioned Aronium is mineable, you can mine with both CPU, GPU and you can stakes coins with a masternode. It uses a hybrid mining system, each component (CPU, GPU, Masternode) is given one block, this creates a balance in the mining system. In the beginning, the block reward was 1000 ARO, but it decreases by 10 every 10800 blocks. With this information, it is possible to determine how long mining will be possible, by my calculation it should be around 7 years and 8 months. After this, the miner will receive the pure transaction fee, instead of the block reward. At this moment there are 8 mining pools, which is not bad, but more pools mean more decentralization, so it would be great if some more pools will be created. Also, it should be noticed that there are some whales that are mining with VPS-Farms, but that is hard to stop from a developer perspective.
In the last January, we saw scalability problems of the leading projects like bitcoin, ethereum or dash. The result of the overloaded networks were very high transaction fees and Aronium tries to stop it, by fixing the fee at 0.25%. The fixed is obviously is great for small transactions, but can be a bit expensive for transactions with a high amount of ARO. But in the end, it’s a fair system, where the user knows how much he has to pay. In the previously mentioned projects, there were situations where the transaction fee was higher than the transaction itself, this can´t happen in the Aronium network. The current block time is around 4 minutes and a transaction is after 4 blocks confirmed, so the transaction time is around 16 minutes.
For a better overview a summary of the mentioned pros and cons of the Aronium
- Built from scratch
- innovative by using PHP
- CPU- and GPU-Mining possible
- no premine, community-oriented
- hight community activity
- fixed transaction fees
- easy to understand
- few pools
- VPS-Farms whales
Links to the project