IAGON

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Discover IAGON'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 IAGON?

IAGON (IAG) is a cryptocurrency token that powers a decentralized cloud storage and computing platform. It leverages blockchain technology, specifically the Cardano network, to provide a secure, transparent, and compliant solution for data storage and processing. The platform aims to democratize access to storage and computing resources, ensuring data privacy and security while promoting decentralization and user control.

How is IAGON used?

The IAGON (IAG) token is used within the Iagon ecosystem to facilitate various activities and interactions. Here are some key ways the token is utilized:

  1. Staking: To participate in the network and become a storage provider or stakeholder, users need to stake their IAG tokens. This process allows them to join the shared storage economy and earn rewards.

  2. Node Maintenance: Users can stake their IAG tokens to use a validating node as a service. The validator maintains the node, and profits are split according to agreed-upon terms.

  3. Node Acquisition: To acquire branded, maintenance-free nodes that are ready to run out-of-the-box, users need to stake their IAG tokens.

  1. Network Participation: The IAG token serves as fuel for on-chain projects developed by organizations like Iagon, ensuring the smooth operation of the decentralized cloud service.

  2. Reward Distribution: The token is used to reward miners and validators for their contributions to the network, ensuring the integrity and security of the decentralized data cloud and supercomputer.

These uses highlight the central role the IAG token plays in maintaining and incentivizing the decentralized infrastructure of Iagon.

How do I store IAGON?

To store IAGON (IAG) tokens, you have several options:

  1. Store on an Exchange: You can hold your IAG tokens on an exchange like KuCoin. This provides easy access to investment products and features such as spot and futures trading, staking, and lending. However, ensure the exchange has strict security measures in place to protect your assets.

  2. Non-Custodial Wallets: For maximum security and control, you can withdraw your IAG tokens to a non-custodial wallet. This includes hardware wallets, Web3 wallets, or paper wallets. This option gives you complete control over your private keys but may be less convenient for frequent trading.

  3. Crypto Wallet: You can also buy and store IAG tokens directly through a crypto wallet that supports IAGON. This involves creating a wallet address, purchasing the tokens, and storing them securely.

Each method has its pros and cons, so it is essential to consider your needs and preferences when choosing how to store your IAGON tokens.

How to buy IAGON?

To buy IAGON (IAG) tokens, follow these steps:

  1. Create an Account on a Centralized Exchange:

    • Choose a reliable and trustworthy crypto exchange that supports IAGON (IAG) purchases, such as Gate.io or KuCoin.
    • Register an account on the exchange's website or app, providing necessary information like email and password.
    • Complete any required identity verification steps.
  2. Fund Your Account:

    • Add a payment method, such as a credit/debit card, bank account, or third-party payment processor.
    • Deposit fiat currency into your exchange account using the chosen payment method.
  3. Buy a Supported Cryptocurrency:

  • Since direct fiat-to-IAG purchases are not available, buy a popular cryptocurrency like USDT, BTC, ETH, or BNB using your deposited fiat currency.
  1. Exchange for IAGON (IAG):

    • Use the purchased cryptocurrency to exchange for IAGON (IAG) on the same exchange or transfer it to a different exchange that supports IAGON trading.
  2. Transfer to a Wallet (Optional):

    • If desired, transfer your IAGON tokens to a personal cryptocurrency wallet for additional security and passive revenue opportunities.

Remember to research the exchange's reputation, fees, and supported payment methods before making a purchase.

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History of IAGON

IAGON (IAG) is a cryptocurrency that was formed in 2017 with the primary goal of giving individuals control over their data. Initially, the project focused on solving issues related to healthcare data storage, which lacked transparency for individuals. Over time, the scope of IAGON expanded to encompass a broader vision of providing secure and decentralized storage solutions for various types of data, including important documents and intellectual property.

The IAG token was initially launched as an ERC token but was later deployed on the Cardano network due to Ethereum's scaling issues. This decision was made to leverage Cardano's environmentally sustainable blockchain protocol, Ouroboros, which offers high energy efficiency compared to other blockchain protocols.

IAGON's token sale took place from May 27, 2018, to October 5, 2018, with a token price of $0.06 per IAG. Since then, the token has shown significant growth, indicating a strong return on investment for early investors.

Today, IAGON is a decentralized marketplace for storage and computing resources, aiming to democratize access to the shared storage economy. The platform prioritizes transparency, security, and accessibility, making it a game-changer in the digital infrastructure landscape.

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How IAGON works

IAGON (IAG) is a cryptocurrency that operates on the Cardano blockchain. It is part of a decentralized cloud protocol that aims to revolutionize data storage and processing by creating a global, decentralized, cloud-enabled storage and processing grid powered by blockchain technology. Here is an overview of how IAGON works:

Resource Providers and Node Network

IAGON connects data centers, business computers, and private users worldwide to create a decentralized network. Anyone can become a resource provider by setting up nodes on the network using open-source software. These nodes contribute storage capacity to the marketplace, allowing consumers to purchase storage at fair prices while ensuring data privacy and security.

Reward Payment

Resource providers are rewarded for their contributions to the network. The default means of payment is stablecoins, but providers can also earn IAG tokens by agreeing to a verification process. This incentivizes providers to contribute more to the network, ensuring high-quality service and accountability.

Proof of Variance Algorithm

IAGON uses a unique proof of variance algorithm to distribute blocks to miners. This algorithm utilizes probability density functions to classify miners based on their performance, allowing for a fairer system of rewarding miners. It also enables new miners to improve their computational power over time and existing miners to earn rewards proportional to their contributions.

Encryption and Decryption

IAGON uses advanced encryption and decryption protocols to protect data stored on its platform. All data is encrypted to some degree, and the platform supports various storage options, including SQL, NoSQL, private blockchains, and third-party storage providers compliant with regulatory requirements. The encryption standard used is AES-256, which is recommended by the National Institute of Standards and Technology.

Architecture

The architecture of IAGON's open-source platform consists of three sections: machine learning algorithms, blockchain and miners, and encryption/decryption protocols. When a request is sent to IAGON, the machine learning algorithm sends blocks of data to miners for processing. These blocks are then validated over the blockchain, ensuring anonymity and privacy for users.

Environmental Sustainability

IAGON is built on the Cardano blockchain, which is known for its environmental sustainability due to its energy-efficient consensus protocol, Ouroboros. This allows IAGON to scale securely and sustainably while minimizing its environmental impact.

Token and Operations

IAGON has its own token, IAG, which is used within the ecosystem. The token was initially launched as an ERC token but was later deployed on the Cardano network due to Ethereum's scaling issues. The token is used for various purposes, including reward payments and transactions within the network.

User Interface and Wallet Integration

Users can connect their Cardano wallets to the IAGON platform, allowing them to participate in the network's ecosystem and take advantage of its features. The platform provides a user-friendly interface for setting up nodes, managing storage, and earning rewards.

Overall, IAGON (IAG) is a decentralized cloud protocol that leverages blockchain technology, machine learning algorithms, and advanced encryption to create a secure, sustainable, and decentralized storage and processing grid.

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IAGON's strengths

The token IAGON (IAG) has several strengths that contribute to its potential value and utility:

  1. Decentralized Storage and Compute Economy: IAGON is built on the principles of decentralization, providing users with a secure and compliant platform for storing and processing data. This decentralized approach mitigates the risks associated with traditional centralized cloud services, such as data leaks and single points of failure.

  2. Autonomous Cloud Service Marketplace: IAGON's innovative cloud service marketplace offers privacy, security, and operational sovereignty for both enterprise and retail consumers. This marketplace enables users to set parameters for how and where their data is stored, ensuring transparency and control over their data.

  3. AI-Driven Technology: IAGON combines the power of artificial intelligence, blockchain technology, and decentralized computing to revolutionize data storage and processing. This cutting-edge technology allows for efficient and secure data management.

  1. Token Utility Model: The $IAG token is central to the IAGON ecosystem, providing holders with a portion of the revenue generated through the decentralized storage exchange. Additionally, $IAG tokens can be used as rewards for resource providers and ADA holders delegating to the Cardano stake pool. This utility model offers multiple revenue streams for token holders.

  2. Liquidity Reward Program: IAGON has implemented a Liquidity Reward Program, allocating 30 million IAG tokens to incentivize liquidity for the token. Participants in the program earn rewards based on the amount of liquidity they provide and the duration of their participation. This program enhances the overall value of the token and encourages continued engagement.

  3. Multi-Chain Compatibility: IAGON is working on making its token usable and accessible on both the Ethereum and Cardano blockchains. This multi-chain compatibility expands the token's reach and potential user base.

  1. Community Engagement: IAGON has an active community with various official links, including a website, Twitter, Reddit, Facebook, and GitHub. This community engagement fosters discussion, input, and collaboration, which can contribute to the token's growth and development.

These strengths collectively position IAGON as a promising project in the cryptocurrency space, offering a unique combination of decentralized data management, AI-driven technology, and a robust token utility model.

IAGON's risks

IAGON (IAG) is a decentralized cloud protocol that aims to provide secure and transparent data storage. The project involves financial risks, which are acknowledged in the documentation. These risks include regulatory and reputational risks that users must understand and accept. The project's financial risks are not limited to the token itself but also extend to the broader ecosystem, including its shareholders, directors, management, employees, and other stakeholders.

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Did IAGON raise funds?

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IAGON’s team

  • CEO: Dr. Navjit Dhaliwal - A serial entrepreneur with a keen interest in business and technology, leading the IAGON team in decentralized cloud services.
  • COO: Dr. Elad Harison - An AI and Machine Learning Expert, Economist, and Industrial Engineer, responsible for fostering a success-oriented environment within the company.
  • CTO: David Garner - Experienced in blockchain technology since 2017, with a background in IT solutions and projects since 2011, and involved in various blockchain domains.
  • Product Manager: Huiling Chen - A long-term fan of blockchain technology, with managerial experience at Opera Software and Huawei, and a strong believer in decentralized cloud computing.
  • Advisor: Talha Hussain - A frontend developer and software engineering fresher, focused on tuning Iagon's platform and building DApps.
  • Co-founder: Dr. Claudio Lima - Shared the enthusiasm for blockchain technology with the other founders, contributing to the initial vision of Iagon.

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