Aion is a cryptocurrency that provides security for the Open Application Network (OAN). This cryptocurrency is also used to access a range of products on the OAN network. Launched in Canada in 2018, the OAN is a public blockchain that aims to enable access to decentralized applications (Dapps) for everyone. This article of Zatrun.com covers everything you need to know about the cryptocurrency.
What is Aion and How Does It Work?
The Open Application Network (OAN) is a project that was launched in Canada in 2018. The OAN is defined as a public network that is open to everyone and is managed by the non-profit organization, The Open Foundation. The goal of the OAN is to provide a platform for the creation of public applications.
The blockchain also aims to create an ecosystem that can work with different blockchains. This allows users and developers to create cross-chain applications. AION coin has become the core of the OAN network. The OAN allows users to execute smart contracts, store their data, and execute them across different networks.
The Open Application Network (OAN) aims to bridge the gaps between blockchains. AION coin allows developers and investors to easily switch between blockchains. It also helps with data transfer and executing smart contracts on blockchains like Ethereum and NEO.
The lack of interoperability between blockchains hinders the technology from entering the financial world. Aion aims to change this by creating a blockchain ecosystem that will transform global finance. To achieve this goal, project has partnered with brands such as CryptoCurve, Nodesmith, and BlockX Labs.
Is it a good investment?
According to CoinMarketCap, the project’s 24-hour trading volume is recorded as $1.77 million, with a market capitalization of $18.1 million. The cryptocurrency reached its all-time high of $11.31 in January 2018. However, the AION coin price fell and is currently trading at $0.03. The project ranks as the 647th largest platform within the global blockchain ecosystem. Due to its value being lost in recent years, AION is experiencing a stagnant price movement.
