Today I want to take a look at the startup Aergo, a project the founders boldly call a revolutionary fourth-generation blockchain protocol using smart contracts.
I have copied a translation of its main mission and goals on the project's website:
Our project aims to develop a new blockchain protocol using advanced and easy-to-use developer tools, with a state-of-the-art consensus and deployment dApp
Platform Aergo consists of three basic architectures:
1. The Aergo Chain (AERGO Chain)- An innovative blockchain that is based on a consensus algorithm delegated share proof (DPOS protocol) using smart contracts AERGO SQL. In this protocol, transaction confirmation is almost instantaneous and much safer than in other protocols. It is managed according to the principle of reputation and offer.
2. Aergo Hub- A kind of blockchain host for building, testing, deploying and managing independent blockchains based on AERGO Chain.
3. A marketplace (AERGO Marketplace) where it is planned to trade computational assets that are hosted in AERGO Hub.
This startup was founded by specialists of Blocko, a South Korean company that has been offering blockchain infrastructure solutions for the corporate sector since 2014. Blocko's customers include such giants as Samsung Group, Hyundai and LG.
The Aergo ecosystem is designed for 5 main target user groups:
- Future end-user community (supporters and enthusiasts);
- Regional business partners;
- Developer Community;
- Technology providers (blockchain hosts and cloud
- Users of the platform (dApp providers, Blocko customers and partners).
Here's what Phil Zamani tweeted about the project:
"We have an advantage because the core technology of AERGO was built here in Korea by Blocko, which has been on the market for four years. We have 25 customers here in Korea, with more than 25 million users on the blockchain and production systems we've developed.".
This fundamental development, which builds on Blocko's existing customer base, deserves a closer look. The organizers' statements about blockchain 4.0. sound like a beautiful publicity stunt, while at the same time inspiring a certain amount of respect.
Let's take a look at the development team that will implement this software solution using blockchain technology
Phil Zamani- Chairman and CEO of AERGO, Co-CEO of Blocko Inc.
Experienced business manager with over 20 years of experience in building enterprises using advanced open source and now blockchain solutions.
Hunyoung Park- CTO at Blocko Inc & Board Member at AERGO.
Technical leader of Blockchain software and research. Has 13 years of experience in database development.
Roderik van der Graaf- AERGO board member, Blocko Inc. advisor.
A reputable investor in blockchain startups, founder of lemniscap, an investment fund that specializes in advising and attracting investments in blockchain-related developments.
Overall, the team at this startup inspires an element of trust, as many of the team members are working at the same time or have worked on the development of the current working Blocko project. The project profile on linkedin is updated very rarely, but there is information about the team members. I selectively reviewed employee profiles, and I recommend that you take some time to do so as well; reviewing their resumes is encouraging.
The team's activity in social networks:
- There are very few publications on the project website in the News section and they are rarely updated.
- There is much more activity and news on Twitter, with regular and relatively frequent updates.
- The project's blog on Medium is represented by several articles with news and achievements from the development team.
- ANN's Telegram channel has 10091 subscribers along with me and the project's official Telegram group has 32162 subscribers. There are active discussions on Telegram.
- The first activity on the project's github was started about 2-3 months ago and it is clear that the work on the project code is ongoing. The interesting thing is that I got the roadmap of the startup exactly from the project's github.
According to the Roadmap at the moment the Skeleton of blockchain platform is already done:
- Consensus system element (dpos without voting)
- Account model
- Network - p2p
- Cmd aergocli
- Simple client API
- Smart contract will not be released - you can see the prototype in coinstack3sp2 on Githab.
According to the development plan, the first phase of the Aergo Alpha Roadmap was completed in September 2018:
- Simple dPOS
- Aergo SQL smart contract (LLVM)
- Basic client environment and development environment (other repositories)
Stage 2 of the Roadmap: Aergo Testnet (planned for December 2018):
- Advanced dPOS
- Management with DAO
- Extended client environment (including domain-related parts)
Next in line, in March 2019, Aergo Mainnet is scheduled to complete Phase 3, and in Q4 2019, the Aergo World Launch. But that's all in the plans, and I really hope those plans get implemented by the development team.
During a boom, prepare for a depression, and during a depression, prepare for the next boom. This is what experienced business people recommend. As part of this review, I've been looking into what this project is, if it has a chance at life, and why the world needs it.
Blockchain, the use of smart contracts, a modern consensus system and dApp deployment. And the main thing is that the Aergo project has a large customer base. I think that Aergo has a successful future.
I carefully read the technical documentation, the consensus protocol, the development team, the parent company, the websites and social media pages. In my opinion, this project has all chances to be successful.
In my review I didn't write anything about project tokens: AERGO ERC-20 and AERGO Platform Tokens. I will touch on this topic in my next posts on this site or on Voice, or maybe on bitcointalk forum.org, or maybe on Steed. I haven't mentioned the smart contracts theme yet, but we will also talk about it in my next publications.