Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process. Bitcoin is changing the way we see money as we speak. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way. It is a decentralized peer-to-peer internet currency making mobile payment easy, very low transaction fees, protects your identity, and it works anywhere all the time with no central authority and banks. Bitcoin is design to have only 21 million BTC ever created, thus making it a deflationary currency. Bitcoin uses the SHA-256 hashing algorithm with an average transaction confirmation time of 10 minutes. Miners today are mining Bitcoin using ASIC chip dedicated to only mining Bitcoin, and the hash rate has shot up to peta hashes. Being the first successful online cryptography currency, Bitcoin has inspired other alternative currencies such as Litecoin, Peercoin, Primecoin, and so on. The cryptocurrency then took off with the innovation of the turing-complete smart contract by Ethereum which led to the development of other amazing projects such as EOS, Tron, and even crypto-collectibles such as CryptoKitties.
Aion is a revolutionary multi-tier blockchain platform that has been created to solve the pressing issue of limited operability between existing blockchains while still remaining capable of handling its own applications. It supports custom blockchain architectures, and it provides cross-chain interoperability. The Aion project comes at a very appropriate period, in a time where there’s an ever-growing number of blockchains.Thus, interoperability is more important now that it ever has been. Interoperability will expand the horizons of multiple other blockchain platforms, not to mention those of enterprise-oriented companies. The project is led by Matthew Spoke, the CEO of Nuco and board member on the EEA. Other big names include Jin Tu, Nuco’s CTO, who has more than 15 years of experience in enterprise engineering and more than four years in the blockchain industry, and Peter Vessenes who has co-founded the Bitcoin Foundation. The token is the blockchain’s power-source. It’s used for securing the network, for creating new blockchains, as well as for monetizing inter-chain bridges. AION token is actually an ERC-20 token. In fact, the token is first offered as an ERC-20 token on the Ethereum blockchain, and only then it can be changed to the official AION network token. When that happens, the token can freely stream between two blockchains. The best thing about this is that investors are not required to change their Aion Ethereum token (ERC-20) for the Aion-1 token, as they will always be interchangeable. In order to buy AION, you will need to first purchase another cryptocurrency, preferably Bitcoin or Ethereum. Fortunately, AION is supported by some very popular crypto exchanges out there such as BitForex, Binance, Ethfinex, Liqui, and Bancor Network. There's a good chance that Aion, with its unique approach of solving interoperability issues, will become somewhat of a necessity for the cryptosphere in the following period.