A lack of interoperability has been a huge issue within the cryptocurrency space. There is an ever-growing number of blockchain platforms that provide amazing products and services, but without a way to make them function as a cohesive unit, these projects are unable to reach their full potential.
It seems that one firm may have created a platform to solve this problem. The Aion Network is planning on becoming the “underlying infrastructure” for the blockchain sphere and aims to create protocols that will support a network of interconnected blockchains. Will it be successful?
Maybe. The for-profit company sees itself as a sort of Linux Foundation for the blockchain sphere and wants to create something similar to the TCP/IP protocols that helped to leapfrog the internet into the future.
In a TechCrunch report, Aion CEO and co-founder Matthew Spoke said that “the core design of network we have been building is to connect various networks, and route data and transactions through a public network…it allows you to build bridges to other blockchain networks. That public network acts as relayer between blockchains.” Aion was launched on April 25, 2018.
Crypto Grandma seems to be very enthusiastic about the project.
CAPEX.com Presents Brand-New AwardsGo to article >>
— CryptoGrandma (@CryptoGrandMom) April 25, 2018
Data Security Concerns Will Need to Be Addressed
The network is essentially a public information highway, which is cause for concern for firms who want to transmit secure data between blockchains.
Spoke says that these concerns could be addressed with some clever maneuvering, like sending data proofs instead of data itself. Still, it’s quite possible that new solutions will need to be created in order to make the Aion network or a similar network completely safe to use.
The Aion network will be powered by its own native cryptocurrency that will be used “to pay to be part of a common trusted protocol,” Spoke said. “It comes down to the mechanism of consensus and being incentivized to do business in an honest way.”
Spoke admits that it’s likely that many moons will pass before the Aion network has the opportunity to reach its full potential. “We still need a few years of pure focus on infrastructure to make sure we are getting these layers right,” he explained. “Every time you move data of any kind there are security vulnerabilities, and we need to make sure there are good specs and comfort in using it.”