AERGO is an Ethereum token for the Aergo protocol, which aims to allow enterprises and developers to design, build, and deploy blockchain applications on public or private networks. AERGO tokens can be used for deploying smart contracts, staking, and for paying for other services on the Aergo platform.
What Is Aergo (AERGO)?
Aergo is an open-source blockchain platform for businesses. The network was built to improve business efficiency and create new opportunities for its users. As mentioned on its whitepaper, Aergo aims to provide secure and practical blockchain technologies to businesses, partners, and developers alike while leveraging the existing IT investments.
The network also provides consulting and support services besides offering a user-friendly and enterprise-grade interface. The platform offers products that range from public to private blockchains as a single package. The package builds ease of integration, interoperability, and an array of services and tools created for meeting the demands of existing users. Thus, the Aergo platform was mainly developed for enterprise use cases, providing developers and enterprises with an infrastructure for hosting dapps based on the Aergo chain.
Private blockchains on the Aergo platform operate on a proof-of-authority (PoA) consensus concept. Proof-of-Authority is an identity-based consensus wherein users stake their reputation instead of tokens. On the other hand, the public blockchain network, Aergo mainnet, operates on Byzantine Fault-Tolerant delegated proof-of-stake architecture. Byzantine Fault-Tolerant is a mechanism enabling participation in consensus at a large scale via proxy voting.
Further, users can utilize the Aergo platform for paying enterprise-positioned cloud providers to manage and vote on block creators. These providers include various enterprises such as large telecommunication companies that are hosting their private blockchains on dedicated nodes.
AERGO is the native utility token of the Aergo platform that is utilized as a medium of exchange within the ecosystem. AERGO token is used for DPoS consensus algorithm (Delegated Proof-of-stake), smart contracts, and as a method of payment for technical support, computing assets in the marketplace, hub services, etc. The token is based on ERC20, the standard token protocol of Ethereum.
History of Aergo (AERGO)
Aergo (AERGO) token was launched in November 2018 by a team of experienced and professional developers, including Phil Zamani, Hun Young Park, Won Kim, Allison Shim, Jane Lee, and other individual advisors in crypto.
