Aeron ARN to Nxt NXT Exchange

Crypto Pair Details: ARN to NXT

Aeron ARN

According to its whitepaper, Aeron aims to be the new standard of aviation safety powered by the blockchain. Maintained by a group of aviation professionals, Aeron wants to reduce air transport-related accidents, which it says currently numbers around 3302 per year. One of the major causes of such accidents is the lack of real experience among pilots, since unsecured flight log data from them is susceptible to fraud and forgery. Also, due to 'pay to fly' experiences, corrupt flight schools, negligence of aircraft operators, the primary data driving any decision is affected. Aeron is built upon a robust and cryptographically secure database that makes it unique compared to other online travel companies, travel search services or internal applications made for flight officials. With this technology, falsification of data can be kept at a minimum. Additionally, as you would expect from a blockchain-backed application, key information is safely stored and is accessible to everyone with 100% transparency. Except that it now comes secured by a multi-sig authentication system that prevents any type of security breach. According to Aeron's Whitepaper, 'The pilot’s application is used by a pilot for personal flight logging. The company application collects and verifies data from aircraft operators, maintenance organizations, flight schools and fixed base operators'. Aeron (ARN) is an ERC20 compliant Ethereum based token, with a fixed supply of 20,000,000 ARN. When the token was launched, a fixed amount of tokens were created and after which no more tokens are to be minted. About 60% of the supply is estimated to be in circulation. The supply should decrease over time when ARN tokens as taken out of circulation. Once Aeron receives ARN tokens in exchange of services, the coins will be again released in to the network. According to its whitepaper, Aeron plans to have a user base of 300000 by the end of 2020. This would encourage it to embed new features on its platform. With the help of multi-app functionality and block technology, the company envisions to have an “airline in the pocket” of sorts within two years. While its price has fluctuated like most other cryptocurrencies, it delivered more than 15x returns within a short period between November 2017 to January 2018. As of July 2018, the price is nearly back to its November levels, at $0.57.

Nxt NXT

Nxt uses the blockchain to create an entire ecosystem of decentralized features, all of which require the Nxt currency. Instead of modifying the original Bitcoin source code, as many altcoins have done, Nxt developers wrote their own code in Java from scratch. While Nxt is a public blockchain, licenses for private blockchains based on its software are also available for purchase. The developers refer to Nxt as Blockchain 2.0, providing numerous applications beyond simply keeping a public ledger of transactions. Jelurida BV took over the originally anonymously developed Nxt and now own the IP rights. Kristina Kalcheva, co-founder and legal expert of Jelurida, focuses on how to “explore the different open source licensing models and their enforceability in practice.” Currently, the main developer is an anonymous Star Trek fan, going by the name Jean-Luc Picard. While there is still the active development of Nxt, the parent company Jelurida is also working on a Nxt 2.0, known as Ardor, designed specifically to deal with scalability. Ardor will use the same blockchain technology as Nxt, combined with the idea of ‘child chains.’ According to Travin Keith, Nxt foundation Web and Marketing manager, Ardor allows for a “manageable blockchain size, which solves the problem of scalability by separating transactions and data that do not affect security from those that do, and moving all of those that don’t affect security onto child chains.” The core infrastructure of Nxt is complex. This adds risks as compared to the more lean bitcoin, but makes it easier for external services to be built on top of the blockchain. A peer-peer exchange allowing decentralized trading of shares, crypto assets. Since the blockchain is an unalterable public ledger of transactions, the Asset Exchange provides a trading record for items other than Nxt. To do this, Nxt allows the designation or ''coloring'' of a particular coin, which builds a bridge from the virtual crypto-currency world to the physical world. The ''colored coin'' can represent property, stocks/bonds, commodities, or even concepts. Arbitrary Messages enable the sending of encrypted or plain text, which can also function to send and store up to 1000 bytes of data permanently, or 42 kilobytes of data for a limited amount of time. As a result, it can be used to build file-sharing services, decentralized applications, and higher-level Nxt services. Nxt had no mining phase, all initial units were released to 73 people through a one-time fundraiser via bitcoins, after the announcement of the NXT project in the bitcointalk-forums by BCnext. Combine this with a PoS approach, and you have a situation where the big guys run the table. At one point, the Nxt community had a very public spat with Bitcoin developer Jeff Garzik. Garzik took issue with the Nxt marketing approach, its anonymous developers, and their responses to constructive criticism. Nxt responded to some of these claims, of course, but it remains one of the more controversial moments in its history. Another key problem the Nxt network ran into (like so many others) was blockchain bloat. Nodes get weighed down by the onerous task of having to store every transaction on the Nxt blockchain. This was one reason (among others) why Ardor/Ignis came into existence.'

SOURCE: COINGECKO

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