AO Blockchain comes from AO Cyber System, which has the goal of putting advanced technology within everyone’s reach. The AO Blockchain is a comprehensive system that will take care of every part of the blockchain, including development, delegation, and deployment. The system is designed to appeal to those who want to make use of the blockchain, whether they are a beginner or already have years of experience with blockchain technologies.
The AO Blockchain System is scalable and works on a clustered hybrid of delegated proof of stake and proof of identity blockchain that covers transactions of a consumer-to-consumer, business-to-consumer, business-to-business, and currency nature.
What Are the Key Features of the AO Blockchain?
The team considers the assets to be the “core” of the AO Blockchain. The platform lets users track value for individual assets over time, transfer asset ownership, or sell shares of assets on the exchange or via a smart contract. Simply put, the assets are what tracks the ownership of classes of various assets.
The AO Blockchain System also includes a full identity solution. If you combine it with another identity verification service, the AO Blockchain System can give companies worldwide AML/KYC compliance. Users can share their identity with as many or as few people as they want. The identity information remains private unless you choose to share it.
The AO Blockchain includes built-in smart contracts to help ensure standard actions. The contracts are always simple to use, share, and configure and can help with things like project management and payment processing or managing a full portfolio of stock and/or currency. AO Blockchain uses at least 101 active delegates at any given moment. They are responsible for processing the transactions across every blockchain, enabling security.
What Does the AO Blockchain Exchange Do?
Another very useful feature of AO Blockchain is the Exchange. This exchange is completely decentralized and built into the AO Blockchain. It uses the blockchain to process the trades, and then more complex trades, buying, and selling take place via smart contracts. The exchange will start with BTC, ETH, BCH, LTC, and AOCoin, which will soon be joined by Euro and USD fiat currencies. With the exchange, you can trade cryptocurrencies between each other or to a fiat currency and back. There will be support for linking debit and credit cards, as well as bank accounts.
The exchange also allows for trading of assets, as well as shares of assets, except for inventory. You set asset pricing with smart contracts and either enter them on the Asset Exchange or automatically trade against them.
There is even the ability for P2P loans, in which AO Blockchain users provide a loan to another user with their chosen terms. This is all possible due to smart contracts. Other parts of the exchange include margin trading and funding and orders, such as hidden orders, private orders, fill or kill, trailing stop, stop, buy/sell, limit, and one cancels other. The team is also researching asset-backed loans to make this feature available in the future.
What Currencies Can You Use with AO Blockchain?
The primary currency of AO Blockchain is AOCoin, which is used for running the network. At first, users will be able to use BCH, BTC, LTC, and ETH. Eventually, users can use any currency, whether they are buying, selling, trading, or doing something else. The AO Blockchain System supports every crypto and fiat currency currently available. Thanks to Gateways, the system can interact with other currencies, letting it be used to track asset value, via the exchange, or with smart contracts.
By default, every account can accept any cryptocurrency. To use fiat currencies, you must validate your identity due to legal restrictions in certain parts of the world.
What Can You Do with AOCoin?
One of the many benefits of being an AOCoin holder is the ability to vote. By being a token holder, you have the right to vote on delegates and on which features will be added next. Delegates also get to vote to maintain the currency’s value by injecting AOCoin or modifying the network to counter inflation.
AOCoin is also used to process transactions, become a delegate, issue network protocol change recommendations (delegate only), and validate identity.
What Should You Know about the ICO and Presale?
The AOCoin, AOC, presale is currently in process. The price is $0.0025 per coin, and there are 500 million AOC available during the presale. The ICO will begin in May 2018 with a further 40 billion AOC available at the same price of $0.0025 per AOC. While the price per coin is the same, those who participate in the presale get double their AOC when the ICO ends as a thank-you for early partnership. There are also referral bonuses, 5 percent during the presale and 2 percent during the ICO.
All the revenue from the presale will be immediately available for the consulting team behind the AO Blockchain, Don’t Panic Consulting, to use for this project. Revenue from the ICO will be held in escrow within a 3-of-5 Coinbase Vault. That revenue will not be released until the AOC is also released.
What Other Numbers Should You Know?
The AO Blockchain supports a maximum of about 9 quintillion coins. There will be at last 101 delegates, with only one delegate allowed per identity. To improve the efficiency of delegates across the system, there will be five blockchains.
What Does the Roadmap Look Like?
As mentioned, the presale is already underway. At the same time, the team continues to develop the AO Blockchain beta version, including creating and testing it with the goal of demonstrating the system. Throughout both processes, the marketing team is being put together. The ICO will begin in May 2018, followed by building a full development team. The team will be able to finalize the AO Blockchain development, fully audit the production system in search of security and code errors, and release the program. After its launch, the system will still be developed, delivering authorized features and security fixes.
An ever evolving roadmap is available via Aha.
Conclusion
The AO Blockchain System offers a range of services based on the blockchain in a manner that should be straightforward to use. It provides the tools needed to develop on the blockchain, helping those in a range of industries.
