What Is Aion?
Aion is a multi-tier blockchain network run by a Toronto-based tech company Nuco.io. The developers’ idea was to create online bridges between isolated decentralized platforms to allow interchain trading. Even though industry leaders like Bitcoin and Ethereum aren’t compatible with Aion’s bridges, the developers are working hard to engage them in the project.
The company’s AION token is the native asset of the Open Application Network (OAN). It’s used to implement new blockchains and monetize inter-chain bridges. The token is currently ranked 118th and has a market cap of $42 million.
The AION Token can additionally be used on the OAN to secure the network and is distributed to users as a reward. Additionally, the token can be accumulated by putting your Aion to work (staking) and mining on the OAN.
Pros and Cons of Aion
Here are the main advantages and disadvantages of the AION token:
Advantages of Aion:
- The token has shown consistent turnover levels on prime exchange platforms;
- There is, at the moment, a reasonable number of wallets for storing the token;
- The blockchain in and of itself is an intriguing project with a goal that could possibly solve a number of problems faced by today’s blockchains by providing decentralized accountability, interchain transactions, etc.;
- AION coin is backed by a well-experienced crew of blockchain engineers and developers.
Disadvantages of Aion:
- After a relatively promising start, the price of the AION crypto has dropped and remained low for most of its lifetime;
- The blockchain is facing some major competition: platforms like Wanchain, Komodo, Ark Ecosystem, Cosmos, and Polkadot are currently developing the same interoperability solution.
Storing AION: Best Aion Wallets
AION can be stored on Ledger, Trust, Coinomi, Magnum, Aiwa, and the official Aion desktop wallet.