Aion token - another pig in a poke

The number of cryptocurrencies is increasing every year. Some of them are becoming attractive to investors, and their capitalization is growing. Some remain unclaimed and disappear into oblivion. One of the new altcoins is Aion, the token underlying the network of the same name. 

Team

The project was founded by a strong team that has good potential and huge ambitions. Among the famous names is Matthew Spock, the executive director and, in fact, the leader of the team, the creator of the project. Advisors Peter Vesens, Simon Taylor and others

Project

Aion (AION) – 3rd generation Blockchain network. Essentially, it creates a unified blockchain and allows disparate systems to be integrated into a multi-level hub. The project sees its main task as uniting platforms that currently do not interact and have no common ground. Building bridges between blockchains with different functions and tasks and giving them the opportunity to “communicate” is a promising goal of the project.

In addition to unification, the project announces a maximum increase in transaction processing speed and increased data capacity for blockchains. The third component of the protocol is design. Aion, according to the developers, will allow you to create individual blockchains and maintain their compatibility with existing ones. That is, it promises the possibility of creating any private, individual or public distributed registries on Aion. 

Main competitors

The idea of ​​Aion Network is not unique and there are a sufficient number of large companies on the market working on solving similar problems. The most famous of them are Blocknet, Cosmos, ICON, Wanchain. So far, the Aion project does not have any competitive advantages compared to them. 

Aion Token

The project is based on Aion tokens. The first addition to the exchanges took place on October 18 last year. The coin value was $0.61. After Bitfinex added this token to its listing, its rate almost quadrupled and currently stands at $2.37 per coin. This cannot but alarm investors who prefer to work with long-term investments. The capitalization of the coin as of the date of publication of the article is $273.5 million, and it is now in 50th place in the general list.  There are a total of 115.4 million units in circulation and a daily trading volume of $13.3 million. You can only withdraw a coin to fiat through a “double transaction” by first exchanging it for Ethereum, Bitcoin, Binance Coin or USDT..

Summary

The idea of ​​​​creating an internetwork bridge is not unique today. The presence of a large number of competitors casts doubt on the implementation of high-tech ideas. The activity of the official resource is insufficient for the declared scale of the project. Against the backdrop of such fierce competition, long-term investment seems doubtful. The price increase for Aion directly depends on the implementation of the team’s plans. But for now we are seeing signs of a token pump with unclear prospects for its functioning.