Estimated reading time: 1 minute, 50 seconds
In Blockchain Token – What is it?, we cover the different types of blockchain platforms and cryptocurrencies on the market right now. Today we are going over the Aragon project!
Aragon is a network intended to be a Digital Autonomous Organization (DAO for short) that aims to eliminate unnecessary third parties and intermediaries to allow organizations, investors, and entrepreneurs to operate more easily, openly, and efficiently. All this while still retaining or creating value within their businesses.
The Aragon Network uses the Ethereum blockchain, which allows organizations to be run on the blockchain, as well as resolve problems within companies or the network using a decentralized dispute resolution system. Aragon provides all the necessary components for a business like accounting, payroll, fundraising, and settlement.
Aragon believes that
which will allow us to create a less restrictive and borderless economy.
ANT is the token used on Aragon’s platform. Because it is a subtoken of the network run on the Ethereum blockchain, it is an ERC20 token. ANT is to be used in governing all parts of the networks functions and interactions. According to their network page, which overviews the token and their token sale, ANT can be used by holders to change subscription fees, decide on which services to provide, and vote on investments and other governance decisions.
So Aragon has it’s own token ANT, but is fundamentally a network system for decentralized organizations that uses Ethereum’s blockchain.
Aragon’s competition includes projects like Waves and KICK ICO, although there are some differences in the purposes of these platforms.
Check out our page for Aragon if you’d like more resources to check out about the project and different social media networks too!
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