ICO Review: Aergo
AERGO proposes to be a 4th generation — enterprise ready — blockchain protocol combined with an IT platform that uses advanced technologies.
Aergo claims to be a 4th generation “enterprise ready” blockchain protocol which links public networks with private blockchains with the goal of a wide corporate adoption.
The core technology is based on the existing 3rd generation platform COINSTACK which was built by a South Korean blockchain research and development company named Blocko Inc. According to Blocko Coinstack-based blockchain systems are already supporting 25 million users in 23 in-production systems. Blocko is now adding the following technical improvements to Coinstack and is therewith building Aergo:
- a super-fast and efficient blockchain protocol,
- a SQL smart contract engine,
- IT integration APIs,
- Developer tools
Why is Blocko creating an additional blockchain with similar aims?
The blockchain experience Blocko has gathered with the development and implementation of Coinstack has showed some issues:
- Inflexible and not scalable
- Incompatibility with existing enterprise architecture, as Coinstack is based on the EVM (Ethereum Virtual Machine)
- Difficult to use for non-blockchain-developers
Therefore Blocko has decided to build an open source hybrid public-private blockchain protocol named Aergo.
The Aergo Platform is formed by 3 core elements: Aergo Chain, Aergo Hub, Aergo Marketplace, which will be explained in short hereinafter.
- a public internet of blockchains,
- contains a smart contract engine called AEROSQL; the name already reveals that the widely used SQL language will be used
- Used consensus algorithm = delegated-proof-of-state (DPoS) -> also used by blockchains like EOS, Ark, Lisk, BitShares
- Parallel processing of blocks
- Own File System (AERGOFS) provides a data storage capability and is based on Facebook’s Haystack technology
- Github-like Repositories for the public and the private network
The Hub is the public interface (a web-based hosting service) into the Chain and has a similar nature as e.g. the Amazon AWS. Through this Hub enterprises and dApp developers can access computing power to execute the application. The Hub enables capabilities like microservice support, content delivery network, a serverless database or an smart oracle interface.
The Marketplace will operate as a business and a partner ecosystem and will provide different digital offers as:
- Computing Power
- Content Delivery Network
- Machine Learning Algorithms
The native token on the Aergo public chain (AERGO) will be used to pay for network fees. In addition the tokens will secure the network as they will be used for staking and act as a means of exchange on the blockchain. Therefore the token will be used for services like running the smart contracts, payment for Hub services or payment on the Marketplace.
- Total Supply: 500 million
- Tokens for Sale: 30%
- Company reserves: 25%
- Employees: 5%
- Advisors/Key Backers: 10%
- Community incentives/Strategic Partners: 30%
The roadmap seems to be quite short for the technology and ideas the team behind Aergo has. The Testnet will be available in Q4 2018 and the Mainnet is planned for Q1 2019. It will be interesting to see if they can fulfil this plan.
- Large team with great experience (also blockchain) as most of them are from Blocko: https://aergo.io/team/
- > 10 full time developers working on AERGO
- Blocko is an existing enterprise in the blockchain space with > 20 customers and a working blockchain solution
- A public-private hybrid blockchain solution well tailored for enterprise needs
- SQL based smart contracts will reduce entry barriers for existing developers
- Already working on the testnet
- Short and promising roadmap
- Current focus in Asian markets (Blocko is setting up an office in London)
- Token sale information missing
- Similar projects (Aion, Wanchain, Icon, Qtum) are more sophisticated
- Less community work (but bounty programs are planned)
The suggested technology looks pretty amazing and has the capability to be mass adopted by enterprises. The team, which has already blockchain experience, seems pretty strong (entrepreneurs and developers) and has the ability to reach their ambitious goals.
We will do our detailed rating when we have the token sale information.
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Disclaimer: block42 is not a registered investment advisor, broker/dealer, financial analyst, financial bank, securities broker or financial planner. The information is provided for information purposes only. The information is not intended to be and does not constitute financial advice or any other advice, is general in nature and not specific to you.
We are not paid or mandated to do any of our reviews. This is just our own opinion. Please always do your own research before making any investment decisions.