Aurora is a dedicated peer-to-peer cryptocurrency platform that was created to make the blockchain industry more colorful by facilitating the easy and fast development of blockchain-based applications. The system was created with the mission of painting the blockchain industry in new colors which share a striking resemblance to polar lights. In essence, the Aurora platform addresses a series of challenges faced by different industries.
Ever since the platform went live, it has appealed majorly to some particular types of industries. Some of these include the video gaming industry, where the Aurora system can be incorporated as an in-game currency. Upon its integration, all parts of the game would be tokenized including the game data, its rules, and game props. The tokens also have the potential to be traded by the parties involved.
Other industries that could employ the use of the Aurora network in their systems include Artificial Intelligence systems and Large Data processing. The system can be used to link synergy and security by eliminating the use of centralized networks as they have proven to be a problematic communication mode between nodes.
Who are the Founders of Aurora (AOA)?
The creator of the Aurora network has an alias that is based on ancient mythology. The name is essentially a combination of the names of the German-Scandinavian gods: the Supreme god Odin, Frigga, his wife, and their son Balder. As such, the words Fe rune, which means the constant growth of wealth became the currency’s symbol. The currency’s name on the other hand was in honor of the Northern lights of Iceland.
The coin was founded in 2018 and has experienced major growth in its system over the years especially in Iceland. Upon its release in Iceland, its tokens were distributed to about half of the total population of Iceland via their identification numbers. The creators of the system hoped to integrate the cryptocurrency into both the local and international markets through this process.
The company’s plan was successful and the coin went into circulation, however, the residents of Iceland that were given had not realized the true value of their virtual assets.
What is Aurora (AOA) used for?
The Aurora network was created in such a way that it would appeal to a large variety of systems. The network can bring solutions in a way that cluster complexities are created at the same time while fewer resources are consumed for the process. In general, it uses the consecutive operations of several circuits at the same time, leading to a horizontal expansion of the network. This by extension increases its productivity via synchronous radiation. The network also provides a solution to the multi-asset problem associated with the speed of cryptocurrency operations as well as the launch of electronic assets.
The Aurora system is controlled by an intelligent system that allows applications to work separately and the smooth running of token transactions. These token transactions are usually trade-related where the Aurora tokens are exchanged with other cryptocurrency pairs such as Bitcoin and USDT to make a profit for AOA holders.
What Is the Unique Point of Aurora (AOA)?
The Aurora system was majorly created to solve a series of issues combating the blockchain industry. It does this intending to link different aspects encompassing its blockchain platform which is powered by smart contracts. Apart from serving as a development lab and launching pad for decentralized apps, it also incorporates IoT into its system.
According to the developers of the Aurora network, the platform has the goal of serving as the foundation on which the future of decentralized IoT systems. This goal also encompasses transactional profits, as well as promoting collaboration among independent devices.
The network also offers its participants a heightened level of data management and general security. By doing this, it bridges the gap between two important technologies in the world of cryptocurrency at large.
How many Aurora (AOA) coins are in circulation?
The Aurora network hit the market at the best possible time due to the nature of services being offered by the platform. In the early stages of its development in January 2018, there was an initial coin offering held for the coin. After the ICO sale, a total of $6 million was raised before the platform went live.
In total, the maximum supply of the Aurora cryptocurrency token is capped at 10,000,000. After the ICO was concluded majority was assigned to the public white the founding member and team sharing the leftovers. Currently, there is a total of 9,975,060,788 AOA tokens in circulation.
Is the Aurora (AOA) Network secured?
The Aurora network was created under the specification of Ethereum’s ERC-20 standard and is secured under its umbrella consensus algorithm. The network is also secured by a delegated proof of stake consensus mechanism which was designed to mirror a representative democracy.
The delegated proof of stake system allows participants on the network who hold AOA tokens to vote by staking their coin balances. The power of each voter on the network is also determined by the amount staked, implying that majorly those with larger investments in the platform will have the largest say in matters arising.
In addition to its DPOS measure, the network is also secured by the Byzantine Fault Tolerance optimization system. According to the network, the implementation of the BFT was to serve as a tool to facilitate the increase of individual transaction speed. To achieve this, the platform needs to be able to run multiple transactions simultaneously, while still maintaining the highest level of scalability.
Through the combination of two systems to provide a high level of security, the platform also provides other benefits for its participants. Some of these benefits include
- Improved energy efficiency
- Easier means of identifying fraudulent activities on the network.
- Equitable distribution of rewards.
How do I buy Aurora (AOA)?
In general, the Aurora system is a problem-solving mechanism that has brightened up the cryptocurrency space. Apart from its top-rated security mechanisms, the platform also provides its users with a series of advantages that are purely targeted at the profitability of the participants. Because of this, the platform has been integrated and is currently available across several exchanges. This has also led to an increase in its demand. To buy AOA tokens, the steps below provide the right direction to purchasing its tokens.
- 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 AOA through your trading account.
Which Cryptocurrency Wallet Supports Aurora (AOA)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as Aurora (AOA). 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 Aurora (AOA) wallet because offers a simple and interactive interface making it easy for people to navigate its system.