AERGO

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Discover AERGO's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is AERGO?

Aergo (AERGO) is an open-source, hybrid blockchain platform designed for enterprises, combining public and private blockchain solutions. It supports the development of decentralized applications (DApps) and offers advanced security and scalability features. The AERGO token is used for various purposes, including paying fees, executing smart contracts, and staking, and is an ERC-20 compliant token on the Ethereum blockchain.

How is AERGO used?

AERGO (AERGO) is the main utility token for the AERGO protocol, a hybrid blockchain platform designed for enterprise use cases. The token has several key uses:

  1. Paying Fees: AERGO is used to pay fees for transactions and services on the AERGO network.

  2. Smart Contract Execution: The token is necessary for executing smart contracts on the platform.

  3. Staking: Users can stake AERGO to secure passive income and contribute to the network's security.

  1. Sending Value: AERGO can be used for frictionless international value transfers.

  2. Access to Services: Holding AERGO tokens grants access to specific services within the AERGO ecosystem.

How do I store AERGO?

To store AERGO (AERGO) tokens, you can use the following methods:

  1. Aergo Connect Wallet:

    • Aergo Connect is the officially supported wallet as a browser extension. It allows you to manage, send, receive, exchange, and perform other operations with AERGO tokens.
  2. Freewallet:

    • Freewallet offers a user-friendly cryptocurrency wallet for iOS, Android, and the web. It provides multi-level protection, including encryption of private keys, multi-signature confirmation, and cold storage. You can access your AERGO account using the Freewallet website on various operating systems.
  3. Bitget Wallet:

  • Bitget allows you to create a Web3 wallet for Aergo by selecting it from the mainnet list on the top right-hand corner of the wallet page. This enables you to store and manage your AERGO tokens securely.

These wallets provide secure and convenient ways to store and manage your AERGO tokens.

How to buy AERGO?

To buy Aergo (AERGO) tokens, follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports AERGO, such as Uphold, KuCoin, Binance, or MEXC. Ensure the exchange is available in your region and compliant with local regulations.

  2. Create an Account: Sign up for the chosen exchange by providing the required information, including email address and identity verification. This process typically takes a few minutes.

  3. Deposit Funds: Add funds to your exchange account using a debit card, credit card, wire transfer, or Bitcoin. The specific deposit methods may vary depending on the exchange.

  1. Buy AERGO: Navigate to the AERGO trading page and enter the amount you wish to purchase. Preview the transaction details and confirm your purchase.

Remember to follow the specific instructions for each exchange, as they may have slightly different procedures.

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History of AERGO

The history of Aergo (AERGO) dates back to 2014, when it was conceived as an open-source enterprise blockchain platform optimized for hybrid deployments, combining both permissioned and permissionless blockchain architectures. This early start predates the concept of Ethereum and the Ethereum Virtual Machine (EVM).

Aergo 1.0 was launched in 2019, aiming to bridge the gap between the enterprise and public blockchain worlds. It provided a practical toolkit and infrastructure for everyday developers, focusing on real-time data processing with SQL/JDBC support. This initial version was highly successful, with over 350,000 monthly active users and 250 use cases and proof-of-concepts implemented.

Aergo 2.0, introduced later, expanded the platform's capabilities to support Web3 applications. Key features include enhancements to the Aergo kernel, a new smart contract language, and the Computing Hub for decentralized infrastructure. The platform also supports EVM compatibility, allowing for easier porting of existing projects.

Throughout its development, Aergo has been utilized by Blocko, a Samsung-backed South Korean blockchain technology company, which has deployed production blockchain solutions for large-scale clients such as Lotte Card, Shinhan Bank, and Hyundai Motors.

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How AERGO works

Aergo is a hybrid blockchain platform designed to provide a user-friendly environment for developers to build highly scalable and cost-effective decentralized applications. Here's how it works:

Aergo Chain

The Aergo Chain is an open-source blockchain protocol that solves the problems of current public blockchains. It uses Delegated Proof of Stake (DPoS) as its consensus mechanism, which ensures high security and reliability. Additionally, the project team plans to implement a new score-based Quality of Service (QoS) algorithm to further boost the reliability and security of the service. Developers can use the developer-friendly LUA smart contract language, built on well-understood SQL technology, to build and maintain public and private decentralized applications. This makes it easier for developers to create and manage blockchain applications.

Components

The Aergo platform consists of four main components:

  1. Aergo Chain: The open-source blockchain protocol that forms the core of the platform.
  2. Aergo Public and Private Repositories: These repositories allow developers to create both public and private blockchain applications, increasing business efficiency and collaboration.
  3. Aergo Hub: A blockchain hosting service that acts as a public interface for creating, testing, deploying, and managing independent blockchains based on the Aergo Chain.
  4. Aergo Marketplace: A platform for the sale and purchase of peer-to-peer computing resources, such as storage, computing power, and algorithms.
AERGO Token

The AERGO token is the native utility token of the ecosystem. It is necessary for the operation of the Aergo platform and has several use cases:

  • Using Aergo smart contracts
  • Participating in the DPoS consensus mechanism
  • Paying for ecosystem products and services
Performance

Aergo boasts high performance, with a throughput of 10,000 transactions per second at a minimal cost of $0.001 per transaction. This makes it suitable for various blockchain-based products and services.

Security

Aergo's private blockchains are run by nodes based on Proof of Authority consensus, ensuring high security and reliability.

Development

Aergo supports developers with its blockchain-friendly technologies, making it easier to code smart contracts. The platform is designed to scale with secured and decentralized blockchain technology, making it a credible alternative for DeFi, NFTs, gaming, and other assets.

Governance

Aergo has an on-chain governance system called AERGO Agora, which aims to be a business-minded DAO and decentralized decision-making framework.

Overall, Aergo provides a robust and scalable platform for developers to build and manage blockchain applications efficiently and cost-effectively.

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AERGO's strengths

The token AERGO (AERGO) has several strengths that make it a notable player in the cryptocurrency market:

  1. Hybrid Blockchain Architecture: Aergo operates on a hybrid blockchain platform, which combines both permissioned and permissionless blockchain architectures. This allows it to support a wide range of applications and use cases, making it versatile and adaptable.

  2. Scalability: Aergo's Delegated Proof-of-Stake (DPoS) consensus mechanism enables the network to process over 10,000 transactions per second, ensuring high scalability and low transaction fees.

  3. Ease of Development: The platform uses the Lua programming language, which is known for its simplicity and ease of use. This makes it accessible to developers without extensive blockchain experience, as Lua is also used in the video game industry.

  1. Enterprise Adoption: Aergo has secured significant partnerships with major clients such as Lotte Card, Shinhan Bank, Korea Exchange, and Hyundai Motors, demonstrating its ability to serve large-scale commercial applications.

  2. Governance: Aergo features an on-chain governance system called Agora, which allows users to participate in decision-making processes by staking AERGO tokens. This decentralized governance model ensures community involvement and transparency.

  3. Deflationary Tokenomics: With a maximum supply of 500 million AERGO tokens, the token's supply is capped, which can lead to increased value over time as demand grows.

  1. Multi-Use Cases: AERGO tokens can be used for various purposes, including deploying smart contracts, making payments within the ecosystem, and participating in governance. This multi-faceted utility adds to the token's value proposition.

These strengths position AERGO as a robust and versatile cryptocurrency with a strong foundation for growth and adoption.

AERGO's risks

Aergo (AERGO) carries several financial risks that investors should be aware of. The token's risk gauge score indicates a low risk investment, but it is essential to consider various factors before investing.

Systematic Risk

Aergo's systematic risk plays a vital role in portfolio allocation. This risk is crucial when considering adding the token to a well-diversified portfolio.

Market Volatility

The cryptocurrency market is known for its volatility, and Aergo is no exception. Market trends, investor sentiment, and the overall state of the crypto market can significantly impact the token's price.

Staking Risks

While staking AERGO can provide passive income, it also comes with risks. Staking protocols, although generally low-risk, are not immune to market fluctuations and potential losses.

Regulatory Risks

Regulatory changes can significantly impact the token's value. Aergo's ability to adapt to changing regulations and maintain compliance is crucial to its financial stability.

Technical Risks

Technical issues, such as scalability concerns and interoperability problems, can also affect the token's performance. Aergo's ability to address these issues and maintain a stable, high-performance network is vital to its financial health.

Investment Risks

Investing in Aergo, like any cryptocurrency, carries inherent risks. Investors should be prepared to potentially lose their entire investment and should thoroughly research the token before investing.

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Did AERGO raise funds?

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AERGO’s team

  • Won-Beom Kim: Co-founder of Aergo Blockchain.
  • Paul Emmanuel: Team member of Aergo.
  • Jae Nam: Team member of Aergo.
  • Mason Shin: Team member of Aergo.
  • Eujin Shim: Team member of Aergo.
  • Hunyoung Park: Former Chief Technology Officer of Aergo.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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