5 reasons why AERGO should be the future of Blockchain in businesses

AERGO is a fourth generation Blockchain and a platform that aims to allow businesses to build innovative applications and services by sharing data on a trustless and distributed IT ecosystem.

by:

ICO/IEO Review

1. The blockchain struggles to break into companies

Blockchain is a technology that can store and transmit information transparently, securely and without a central control body. It could be compared to a huge database that contains the history of all the exchanges made between its users since its creation. The great particularity of the Blockchain is that it relies on a decentralized architecture, that is to say that it is not hosted by a single server but by some users. There is no intermediary so that everyone can check for themselves the validity of the chain. The information contained in each block (transactions, property titles, contracts, etc.) is protected by cryptographic methods that prevent users from modifying them afterwards.

Many Blockchains have emerged and their use has grown steadily through crypto-currencies and other uses. Bitcoin (BTC), is the most known Blockchain. It is called first generation and although very secure, lacks efficiency, scalability and allows to achieve very few transactions per second (TPS). Ethereum (ETH) is considered the second generation blockchain. Ethereum has made many improvements over Bitcoin (mainly smart contracts) but is only able to reach about 20 TPS, which is still too low for large scale adoption. Third generation blockchains such as EOS, Cosmos, Quarkchain or Dfinity are trying to improve this low GST number. However, this improvement in the number of TPS may affect the security and efficiency of these blockchains.

However, companies wishing to adopt and use Blockchain technology face a number of significant hurdles, resulting in very low adoption of the technology in today’s production systems. These main obstacles are:

  • A lack of reliability
  • Technical difficulties during its integration
  • Difficulties in developing software
  • Privacy issues
  • Scalability problems
  • Interoperability constraints

On the basis of this, AERGO has decided to create its platform and Blockchain with the aim of eliminating blockchain blocking obstacles in companies.

2. A Complete solution

AERGO is a new generation platform and blockchain suitable for business. The platform aims to enable businesses and developers to easily design, build and deploy their own Blockchain applications in the cloud. These Blockchains may be private, public or a mixture of both.

AERGO’s core technology is based on COINSTACKn the Blockchain solution of Blocko’s Inc. Blocko is a blockchain leader that has helped some of the world’s largest companies to design and deploy true enterprise systems around secure Blockchain. Operating in the UK, South Korea and Hong Kong, Blocko has already deployed the COINSTACK-based Blockchain to 25 million users in more than 20 systems in production. Building on this Blocko experience, brings its core technology to AERGO and could also provide future services to AERGO, including consulting and maintenance services to future AERGO customers.

The AERGO platform is composed of three main components:

AERGO chain is a blockchain designed to mitigate the problems currently faced by businesses in their use of public blockchains. The main features of this Blockchain are:

  • A smart contract based on SQL and AERGOSQL, a canonical intelligent contract engine to easily create advanced smart contracts
  • +1 million TPS (transactions per second) thanks to the use of sidechain technology.

AERGO Hub is a Blockchain hosting service serving as a public interface for creating, testing, deploying and managing independent Blockchains based on the AERGO Blockchain. This hub offers a set of services and support tools such as a smart Oracle, a serverless database and CDN.

AERGO Marketplace aims to enable the sale and purchase of software applications, computing resources and other services optimized for AERGO Chain. These assets include, for example, storage, computing power and algorithms. This marketplace will be accessible via the public interface of the AERGO hub.

3. A strong team

The AERGO team consists of about fifty members. Most of them have solid Blockchain expertise and many of them are simultaneously working at Blocko. Overall, this team seems to have enough technical and commercial skills to realize its ambition. The team is led by the three members of the board:

Phil Zamani (Board Member) is currently the COO of Blocko. He has over 20 years of experience in cloud and open source technologies. Throughout his career, he has held a number of high-level positions, such as the position of Global Vice President of Sales at Redhat Inc or Senior Vice President of the Cloud Unit at Deutsche Telekom. .

Park Hunyoung (Board Member) is the current CTO of Blocko. He has over 12 years of experience in the development of relational databases and distributed systems and has extensive expertise in large scale and high performance software design. Park is a major contributor to the development of Coinstack and was previously a software engineer at TmaxData and Tibero

Roderik van der Graaf (Board Member) is one of Blocko’s advisors. He has over 20 years of investment and consulting experience. He is also the founder and managing partner of Lemniscap, a blockchain investment and advisory firm. Prior to founding Lemniscap, Roderik served as Managing Director of Caldera Pacific Capital for three years and also worked for companies such as KCP, Bear Stearns and Rabobank.

Wan Beom Kim is the founder and CEO of Blocko. He also founded AERGO and is the technical manager of AERGO. His experience is mainly in the development of relational databases and distributed systems.

On Advisors, we can note the presence of Eddie Alleyn (technology entrepreneur and security and secure communications expert who spent 35 years leading special projects for the UK government, the Ministry of Defense and the Foreign and Commonwealth Office ), Riad Hartani(Ph.D. in artificial intelligence and co-founder of Xona Partners and iValley.co) and Vincent Zhou (founder of FBG Capital).

In addition to this seasoned team, the project is supported by several leading venture capital firms, including FBG Capital, GBIC and Lemniscap.

4. Backed by Blocko

AERGO is backed by Blocko Inc and the core technology of the AERGO platform is based on COINSTACK, the Blockchain solution of Blocko.

Blocko is a blockchain leader that has helped some of the world’s largest companies to design and deploy true enterprise systems around secure Blockchain. Operating in the UK, South Korea and Hong Kong, Blocko has already deployed the COINSTACK-based Blockchain to 25 million users in more than 20 systems in production.

It’s a safe bet that Blocko will introduce AERGO to its existing customers in order for the project to quickly gain popularity and adoption.

5. Strong investors

AERGO is supported by several leading venture capital firms which invest in the project.

  • FBG Capital is a digital asset management company that focuses on blockchain-based projects
  • GBIC (Global Blockchain Innovative Capital) is a multi-strategy cryptographic fund with offices in New York, Shanghai and Seoul.
  • Lemniscap is an investment and consulting company specializing in Blockchain
  • JRR Crypto is a part of JRR which invests in distributed innovation projects. Past investments include Quarkchain, Binance and Merculet.

ICO — Token sale

  • Main ICO: Ended
  • Hardcap: $30 millions
  • Token price: $0,20
  • Total Tokens: 500.000.000 AERGO

Some links about the project