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About Aergo (AERGO)
Aergo is an open-source, hybrid blockchain-based smart contract platform. It’s main purpose is to collaborate with third parties on enterprise activity, specifically creating dApps.
Aergo’s specialty is hybrid deployments, comprising permissioned and permissionless blockchain architectures. It includes support for SQL, abetting smart contract programming.
CoinGecko said AERGO is designed as a “flexible, plug-in-based smart contract infrastructure.”
AERGO is the main utility token for the AERGO protocol. The token can be used for paying fees, staking to the network and executing smart contracts.
AERGO is an ERC-20 compliant token running on Ethereum.
The network was built for enterprise use cases. Developers create dApps that run on the Aergo blockchain.
Private blockchains on the Aergo platform run on a Proof-of-Authority (PoA) consensus mechanism.
The Aergo mainnet, a public blockchain network, runs on a Byzantine Fault-Tolerant Delegated Proof-of-Stake (PoS) mechanism.
Aergo’s hybrid approach involves this public chain, as well as private chains and side chains connected via interoperability technology. Aergo has said its hybrid approach “should allow ease of integration into existing systems by giving businesses the flexibility of coupling completely trustless environments for sensitive data or value transfers with regulatory compliant record-keeping, privacy and customization.”
The project is leveraging Blocko’s technology along with dozens of its projects reaching millions of end-users. Among the large conglomerates with which Aergo has partnered: Samsung Card, Hyundai Motors, Kia Motors, Shinhan Bank, Hyundai Motors, Korea Exchange and Lotte Card.
When was AERGO created and how much was it worth?
The platform was created by South Korea’s Blocko, a Samsung-backed blockchain technology company.
In October of 2018, Aergo secured $30 million in a venture funding round, Cointelegraph said. It launched its mainnet one year later in 2019.
At that time, Phil Zamani held the title of founder and chairman of the Aergo organization. Zamani spent decades in the industry, working at Red Hat and VMWare, and focused on open-source technologies.
When AERGO first started changing hands it was worth less than a dime but increased steadily to nearly $0.40 by the spring of 2019, according to Coin Gecko. Its all-time high near $0.57 was reached in April 2021. The token has steadily declined since then.
How is the price of AERGO determined?
According to the project’s website, there are 500 million AERGO tokens slated for release throughout the life of the project. Some 400 million are currently in circulation. In order to gain access or right to some specified services on the AERGO ecosystem, as a community member explained in a Medium post, one has to be a holder of AERGO. Supply and demand will dictate the direction of the token’s price as will the level of take-up by companies seeking out blockchain solutions, which they are incentivized to do, as blockchain is seen as a path forward to achieve cost savings associated with more efficiently run organizations.
Why does AERGO have value?
Aergo is said to be an early and important innovator in the hybrid blockchain segment. Hybrid blockchains like Aergo allow big companies to leverage blockchain systems. As viable projects go, Aergo has generated some buzz in the industry largely owing to the high-profile partnerships it has forged.
At the same time, Aergo’s smart contract platform is viewed as tantalizingly scalable. And generally speaking, the combination of private and public blockchains into a single platform represents a proverbial best of both worlds proposition going forward, particularly factoring in interoperability and ease of integration, making Aergo a top contender in the enterprise blockchain space; thus, if momentum continues to build, take-up of the Aergo suite of offerings, resulting in more demand for the token, would in theory bode well for the price-level prospects of AERGO.
Is AERGO secure?
The network is said to have fourth-generation, state-of-the-art security. The fact that it's an open-source network using public and private blockchain cloud architecture and operating ecosystems is said to be part of the enhanced security.
Aergo also boasts dual consensus mechanisms. The protocol services both private and public blockchains by using different consensus systems for each, Securities.io said. “This structure helps the network remain responsive and provides more security when interoperating between other networks.”
Aergo uses a Byzantine Fault-Tolerant Delegated Proof-of-Stake (PoS) mechanism to secure public blockchains. This is coupled with private blockchain deployments on top of a secure serverless (cloud) computing IT architecture.
What are the main benefits of AERGO?
- It supports the latest DeFi services, with scalability on par with the top-performing protocols in the market, said Securities.io.
- It provides enterprise IT clients with secure, decentralized infrastructure for developers to build dApps across multiple blockchains.
- The network is viewed as developer-friendly, and scalable. It has also garnered a reputation as being inexpensive.
- The platform bridges permissioned and permissionless chains. This has been described by industry members as being fairly unique in the enterprise space, and having the potential to weave blockchain technology into the fabric of enterprise IT.
What do critics say about AERGO?
Major tech companies are bent on cracking the enterprise blockchain sector. An example of this is SAP’s Cloud Platform Blockchain Services, which recently entered the market. It poses stiff competition, CryptoBriefing said.
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