Aragon is a DeFi platform built on the Ethereum network that allows for the creation and management of decentralized organizations. The system was created to solve issues facing the creation of decentralized Anonymous organizations and apps that are operated in a neutral jurisdiction for anyone to be able to create an organization on its blockchain.
The DOA system used on the Aragon platform is software that is run on the blockchain and provides participants on the network with an inbuilt protocol for the collective management of its code.
The protocol used by the Aragon network is divided into three separate parts.
- Aragon Client: This is a specific toolkit that allows developers to design online organizations that are customizable and promotes transparent group participation.
- Aragon Network: This is a system that facilitates the interactions between the decentralized anonymous organizations and the community of the platform itself.
- Aragon Association: This is a non-profit organization that is charged with the management and proper allocation of funds raised from Aragon’s token sale.
Who are the Founders of Aragon (ANT)?
The Aragon network was established by Luis Ivan Cuende and Jorge Izquierdo in 2016. In addition to launching the network, they also launched the Aragon Association, as well as Aragon One and an Aragon company building service.
In the early developmental stages of the Aragon system, the project was majorly backed by the non-profit Aragon foundation for the provision of support upon its launch. However, in the grand scheme of things, the idea is to scale back, dissolve or change the nature of the foundation’s support by making it an open-source platform.
Technically, the platform does not have a CEO or CTO, however, the project has many contributors, and a lead is named uis Cuende. He was awarded the honor of “Best Underage European Programmer” award in 2011. He is also recognized by Forbes as one of the 30 under 30. Although he is relatively young, his leadership skills, however, are second to none. In the early days of his career, he was an advisor for the vice president of the European Commission, and later, he received an MIT Under 35 award. He is also the co-founder of several startups and was the creator of the first Linux distribution with face login.
What is Aragon (ANT) used for?
The Aragon network is not only used for the creation of decentralized anonymous organizations, but it also helps users maintain the systems that have been created through the Ethereum blockchain.
The Aragon system has a dedicated cryptocurrency that allows its users to gain influencing power on the future of the ecosystem as a whole. The system is also governed by participants who ANT tokens and also means that they determine the changes being executed on the platform. The team behind Aragon created the network in such a way that it will be owned and controlled by its participants.
The Aragon network also has specialized resolution services which are provided by Aragon court but are only limited to participants who hold ANJ coins. The ANT tokens can be exchanged to access ANJ tokens, they can also be exchanged with other cryptocurrency pairs like USDT and DAL to earn a profit for their users.
What Is the Unique Point of Aragon (ANT)?
To create a decentralized anonymous organization, the developers have to first use the AragonOS which is essentially a smart contract framework. The existing modules provided by the AragonOS allow the participants to raise funds in addition to incentivizing contributors to join the community and make informed decisions through group participation.
The Aragon decentralized Anonymous organization makes use of a combination of three features. These include:
- Finance: This promotes the management of an organization’s resources. It also permits the participants to submit transactions and also access the transaction history to view their balances.
- Tokens: The decentralized anonymous organizations use cryptocurrency in the management structures and memberships within their ecosystem.
- Voting: This is used by the holders of the ANT tokens to cast votes and raise issues within the network and also examine the outcomes of the issues.
The Aragon network also provides an Avenue where developers are allowed to integrate the Agent app into their DAO. As such, this enables the direct interaction of smart contracts within the Ethereum network. This also means that anyone on the network can build their apps for their personal use, and also to share with other people on the network.
Aragon also has a specialized feature known as Aragon court which provides a service allowing participants to settle disputes inside the organizations hosted on the network which the smart contracts cannot control. With this platform, Jurors on the network are tasked with the responsibility of reviewing arguments for particular disputes and are then expected to cast a vote on the matter based on their observation of the matter.
How many Aragon (ANT) coins are in circulation?
The Aragon system held an Initial coin offering in 2017 which raised 275000 ETH which was around $25 million at the time from selling ANT tokens. Shortly after, it launched its mainnet. Due to the success of its offering, the system announced a change in its ecosystem’s power, transferring it to the holders of its native token.
Currently, the Aragon network has a circulating supply of 38 million Ant tokens and also has a capped total supply of 43 million.
Is the Aragon (ANT) Network secured?
The Aragon network released an updated version of its platform in late 2020 which transferred the control and decision making of the platform from the developers to users of the platform who hold ANT tokens.
In addition to the participants securing the network directly, the system is based on the Ethereum blockchain and is also secured by its dedicated consensus algorithm. The consensus system used by Ethereum is the proof of work protocol that requires miners to compete to find a nonce for a block through intense trial and error. And the system only records blocks that have been successfully verified before they are later added to the existing blockchain.
How do I buy Aragon (ANT)?
The Aragon network provides an Avenue for developers to build and maintain decentralized anonymous organizations for both individual and group usage. The systems created are not limited to the developers but can also be used by other participants on the network. This has generally increased its adoption on a global scale. Currently, ANT tokens are available across several exchanges and can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and Buy ZIL through your trading account.
Which Cryptocurrency Wallet Supports Aragon (ANT)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as ANT token. Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their Aragon wallet because offers a simple and interactive interface making it easy for people to navigate its system.