Estimated reading time: 1 minute, 14 seconds
This episode of Token – What is it? covers AION.
AION is a third-generation blockchain network designed to solve for scalability, privacy, and the interoperability of the many blockchains that exist and will exist.
AION’s network, known as AION-1, will function as a bridge between incompatible blockchain networks. It will follow a hub-and-spoke model, like a computer network, to allow both public and to exchange information, logic and value.
Designed to connect with the main Ethereum blockchain, the AION token will exchange seamlessly with the AION network on AION-1 blockchain.
Currently blockchains are not compatible with the AION network. To become compatible with AION-1 they’ll have to meet some standards such as being decentralized and supporting atomic broadcast.
Along with ICON and Wanchain, AION has formed the Blockchain Interoperability Alliance, to form a common set of standards to connect blockchains. Their first priority is research and design of cross-chain transactions and communication.
Some competitors to AION are other bridge blockchains like Ark.
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