About Aion (AION)weiss-badge

Overview

Aion (AION) is the native currency of The Open Application Network (OAN) and is used to secure and access the network. The OAN is system for individuals, developers, software companies, and institutions to create, host and obtain open (decentralised open-source) apps. No idea what that means? As an example, think of an Uber driver who has worked hard over many trips to have an excellent star rating. If that driver looks to change companies, or start their own rideshare company, they lose all past driving history and ratings when leaving Uber, because Uber owns that data, not the driver. What OAN aim to do is make it possible for the driver to own that information and enable them to take that valuable info with them to their next pursuit. And OAN isn’t just for rideshare apps; it’s for content creators, merchants, gamers, you name it. AION tokens themselves are used to access, secure and maintain the network’s operations and incentivise those users who use their AION in staking to do so.  

Technology

The network uses two variations of the Byzantine Fault Tolerance (BFT) protocol to reach consensus; Bridge Consensus and Connecting Network Consensus. Bridge Consensus is a lightweight version purely for reaching consensus on the bridge. Connecting Network Consensus is for stability and scalability of the system while running both on-chain and interchain transactions. The blockchain also has a native virtual machine using a unique scripting language for running apps. For more details, please refer to the Aion whitepaper.  

Wallets

Two great options for storing AION include Trust Wallet and Ledger devices. Trust Wallet is a free, mobile wallet that supports multiple digital assets. Ledger devices are multi-asset hardware wallets available for purchase through official channels. If buying a Ledger, we recommend purchasing directly from Ledger themselves.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

POLI - internet banking

POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

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Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

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Due to the price of sending and sourcing BTC the minimum order is $500.00.

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