The authors of the idea intend to create an open-source blockchain protocol, which will be a “ready-made enterprise.” Using the Aergo ICO platform, companies and developers will be able to easily build and deploy their applications on the blockchain and cloud environment. They will have access to a choice of both public and private chains.
The creators of this South Korean project claim that their blockchain is a fourth-generation technology and can solve the problems of IT integration, software development, privacy, scalability and interoperability that existing blockchains face.
Development team
Behind the project is a fairly large international group of specialists older than the creators of most other projects. This should be considered as one of the advantages, since we are talking about developers with extensive practical experience. In addition, most of them work exclusively on the implementation of Aergo and are not involved in parallel in other projects.
The Aergo team includes 6 core developers, 13 advisors and 4 business specialists:
- Phil Zamani (COO, has extensive technology experience, previously worked at Banco Santander as head of big data and at Deutsche Telekom as senior vice president of the Cloud Business Unit).
- Hongyong Park (Chief Technical Officer, has more than 10 years of experience in database and distributed systems development, previously worked as a chief software engineer at TmaxData in South Korea).
- Roderick van der Graaf (founder of blockchain investment and advisory firm Lemniscap, graduated from the University of Hertfordshire with a degree in Aerospace Engineering and the University of London with a degree in Information Technology, has over 7 years of experience in private equity and venture capital at Caldera Pacific and KCP Capital, 13 years of equity trading experience at Deutsche Bank, HSBC, Rabobank, Bear Stearns, LIM Advisors and All Options).
- Won Kim (studied computer science at Boston University, has 9 years of experience in Relational DBMS, and has been involved in distributed systems research and development for over 6 years).
- Jane Lee (graduated from Cornell University in the USA with a degree in hotel administration, has 7 years of experience in the field of strategic consulting, specialist in digital transformation expertise and technology commercialization).
Conclusion:
In general, the project is a confident 7.5, but due to their client focus (this is not the client focus on the hamster and evangelists, which I don’t understand why is needed, but real companies and corporations that are already in the client base), the experience of the team in the development of operating enterprise-level blockchain networks and confident movement along the roadmap, the presence of code (even if it is average) can raise the score to 8. Let me remind you that this is a subjective assessment of the project. The investment section is listed separately in the table.
You can follow current information and updates on the project here: https://cryptorank.io/currencies/aergo/ico
Main features of the project
The Aergo project is based on the fourth generation blockchain protocol. The platform is intended to serve primarily enterprise needs and will be called Aergo Chain. The goal of the project is to create a distributed, secure, scalable and public blockchain. Its creators position their idea as the future core IT infrastructure, on the basis of which thousands of applications will be created.
The IT development company Blocko Inc., founded in 2014, is responsible for most of the development and support of the project. She has four years of experience in blockchain technology and will bring her core Coinstack technology to the platform. It is based on the Ethereum Virtual Machine.
The software developed by Blocko specialists is used mainly in South Korea. Large companies using banking payment systems are key users of Blockin Coinstack software, serving millions of people.
Blocko actively cooperates with companies such as Cisco, Hyundai-Kia Motors, KRX Korea Exchange, IBM, Microsoft Azure, SK Telecom, Lotte Card, Samsung SDS, LG CNS and others.
The platform it is developing aims to develop an ecosystem of dApps, technologies and service providers that use robust models in the cloud computing industry. By doing so, the company intends to increase the corporate use of blockchains.
In addition, Blocko created a special division called Blocko XYZ to develop the first dApps on Aergo.
Over the past few years, the company has managed to raise almost $5 million to fund the early development of its idea. Last month she managed to raise another $8.9 million.
Parallelism
Performance in AERGO is ensured by a combination of transactions and parallel processing in blocks.
Enterprise-grade blockchain like AERGO requires higher performance. Ideally this should be in real time. Therefore, each node must be carefully engaged as effectively as the consensus protocol.
AERGO Chain introduces the concept of parallelism to various block processing stages for maximum system performance. Concurrency in a block system involves careful analysis and dependency between the transactions included in each block.
Dependency analysis is a key factor to ensure parallel processing of AERGO
AERGO will perform dependency analysis between transactions and blocks, for a data structure with execution order.
The main page of the project states that performance will reach 1 million tps using side chains. There is no information about testing the system, so this is most likely in the future. Yes, and such readings are impossible at the testing stage, and if they did, it would be a real breakthrough.
Platform architecture
The developers intend to create a fast and scalable blockchain protocol, ready for corporate use. The platform will combine three main components:
- Aero Chain.
- Airgo Hub.
- Airgo Marketplace.
Aero Chain
A public blockchain that contains a SQL-based smart contract mechanism. Algory (DPoS) is used as a consensus mechanism similar to that used in STEEM and EOS. It is known for its high throughput. DPoS is also responsible for network stability and support for the Ethereum Virtual Machine to achieve interoperability.
The public blockchain will have very high performance, processing over 1 million transactions per second thanks to the use of side chain technology.
Airgo Hub
Through the platform hub, users, mainly companies and developers, will be able to access computing power to run their applications. Its main purpose is to act as a blockchain-based web hosting service for managing separate independent private chains based on the Aergo network. It is similar in nature to popular public cloud services such as Amazon AWS. It will also provide various tools and features by bringing together secure dApps under Aergo Chain.
Aergo Hub's open interface will allow developers to easily create, test, deploy and manage independent blockchains.
Airgo Marketplace
This is where platform users will search for and purchase applications, use computing resources and all sorts of other services. This service will also be a place where third parties, such as cloud infrastructure companies and service providers, can offer their products and services to Aergo users.
Essentially, it is a peer-to-peer marketplace for applications and computing resources such as memory, processing power, algorithms, content, and more under the Aergo Chain.
Access to the market will be through an open interface.
Consensus Algorithm
The AERGO network will support various consensus algorithms and allow its users to independently select ones that suit their business requirements. But the main default of AERGO is Delegated Proof of Odds (“DPOS”). The developers believe that this class of algorithms provides improved scalability when combined with an economic operating model. This network- and energy-efficient algorithm is used by many large-scale blockchain projects. This promotes decentralization (the algorithm does not require huge, specialized, often concentrated, computer mining farms).
Aerogo Repositories
These are storage locations that store the source code of software that is being developed for a specific project, public or private. They are also used for version control and collaboration among multiple developers. Such repositories allow software creators and other users to collaborate on new projects from anywhere in the world.
Aergo Chain will provide support for public and private repositories. A public repository is a shared, open and decentralized infrastructure for dApps. It can be configured to selectively allow reading and writing by anonymous users. A private repository is a controlled, secure and private infrastructure for dApps. Its purpose is to maximize complete read-write access control to the code.
When creating a new branch from a child of the parent branch, users should be able to save the newly created blocks in a private branch that is not publicly accessible.
Advisors:
- Eddie Aleyn is a technology entrepreneur and security and secure communications expert. For thirty-five years he led special projects for the UK Government, the Ministry of Defense and the Foreign and Commonwealth Office. From 2011-2016 he was Chairman and CEO of HMGCC, an FCO agency dedicated to the design, manufacture and integration of secure communications and cyber systems for the UK Government.
- Vincent Zhou is a founding partner of FBG Capital with extensive experience in digital asset trading and investing. One of the first investors in blockchain companies and projects. One of the most forward-thinking crypto hedge fund managers in Asia.
- Djamel Souici is a legal expert on open source technologies, licensing and business models. Also a leading consultant and practitioner in the field of data monitoring and regulation (eg GDP). Member of the German Law Association Barr, he has worked as general and legal counsel for several innovative firms for the last 19 years.
Differences between Aergo and Coinstack
Coinstack is Blocko's blockchain-based software that has been successfully used by several companies. They both offer blockchain platform services, however Coinstack is completely private as the node and application providers are autonomous within the organizations.
Aergo, in turn, is a platform that uses cloud architecture along with public and private blockchains. It inherits many of CoinStack's important technical components, including a well-developed and proven stable application programming interface (API).
Aergo is committed to collaborating and leveraging the skills and resources available across Blocko's range of services. The company positions this project as its main contributor and strategic partner. Because Coinstack's source code supports the fundamentals of the Aergo protocol, the platform is privileged to have access to many of the features that have already been tested in a commercial environment.
Forecast for 2022
AERGO's investors are mainly from Asia (FBG, GBIC, Lemniscap) and to become more popular it needs to raise its profile in Western markets. Ideally, this would be to create a community for developers to become familiar with AERGO SQL and AERGO's compatibility with Solidity. For the project, the most important thing will be to introduce real companies to your product and show all its advantages.
Aergo cryptocurrency is likely to be one of the most interesting projects in 2022. Its architecture is designed to solve real-world problems, welcoming Solidity developers and novices alike. The ability to provide permissions and privacy throughout a project also bodes well for practical application in enterprises. This project is definitely one to watch in 2022, especially after the launch of the AERGO mainnet on April 15th.
Advantages of Aerogo
The development of the platform did not start from scratch. Much of the platform is based on Coinstack, which has been successfully tested with millions of users.
Developers will have access to a wide range of programming languages such as SQL, C++, Golang, JavaScript and Python. This is in contrast to Ethereum, currently the largest smart contract platform, which requires developers to write code exclusively in Solidity.
Tokens
The AERGO token is intended for the exchange of information within the AERGO ecosystem. It will grant the owner the right to certain services available in the AERGO ecosystem, such as:
- launching a smart contract (AERGOSQL)
- payment method for Blocko technical support on Coinstack 4.0;
- payment method for AERGO Hub services
- payment method for services and assets on AERGO Marketplace
- payment method for the AERGO domain
Tokens will be based on their own standard.
Disadvantages of Airgo
The project is aimed, in particular, at companies that use block technology in their activities. It should be noted that there are already many large corporations in the Ethereum Enterprise Alliance, including Microsoft, BP and UBS. The alliance was founded in March 2022 and today has a significant advantage over other projects in terms of adoption of enterprise blockchains. Besides it, there are many other large blockchain platforms such as IOTA or VeChain that have established partnerships with large companies. In this regard, serious competition awaits Aergo developers.
Metrics:
Total 500,000,000 AERGO tokens. Of these, 30% (150,000,000) is allocated for sales at a price of 0.2 USD per token - we get a cap of 30 million, and not 32 million, like some.
And here the proofs have arrived:
It can be seen that the hardcap was almost reached - 1.16 million were not enough.
For unlocking tokens: 50% immediately, 25% after 3 months and the remaining 25% after another 6 months.
Period and conditions of the Aergo ICO
Official website: https://www.aergo.io/
There are 3 documents available on the site:
- WhitePaper business;
- technical WhitePaper;
- document on the AERGO SQL smart contract mechanism.
The start date for the main public stage is October 1, 2018. The tokens will not be sold, they will be distributed among project supporters for a total amount of $3 million (per person from $200 to $2000) for their contribution to development. It is known that the total number of tokens for rewards will be 500 million. Everyone can participate in the rewards program and receive a bonus for free.
Token distribution:
- ICO - 30%;
- company reserve - 25%;
- development team - 5%;
- advisors and supporters - 10%;
- support from the community and strategic partners - 30%.
Distribution of funds:
- research and development - 40%;
- marketing - 15%;
- ecosystem incubation - 30%;
- strategic alliances and business development - 10%;
- other expenses - 5%.
Whitepaper, roadmap:
The technical whitepaper is written quite concisely, everything is clear: https://paper.aergo.io/AERGO_Chain_Technical_Whitepaper_V1.0.pdf
The general VP, of course, already with a decent amount of water, includes the technical one: https://paper.aergo.io/AERGO_Whitepaper_v5.2.pdf
And there is also a paperer for smart contracts, which has nothing special, much less code - just a general description for several pages: https://paper.aergo.io/AERGO_SQL_Whitepaper_V1.0.pdf
According to the roadmap, there are not enough details.
- 2nd quarter 2022 - SQL presentation - completed, everything is in Github
- 3rd quarter 2022 - beta introduction
- 4th quarter 2022 - testnet launch
- 1st quarter 2022 - public blockchain mainnet
- 3rd quarter 2022 - launch of HUB and marketplace
General information
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