Recently, blockchain technology has become an outlet, and the implementation of blockchain + transformation has become the direction considered by many enterprises.
But suddenly entering this field from the traditional world is not a small problem for many companies. For example, the performance of the underlying platform is not good enough, or the development language is difficult to understand, and the necessary development components are lacking, which hinders the adoption of blockchain technology.
For these problems, the public chain project from South Korea has developed the underlying chain and its upper-level tools to prescribe the right medicine.
On November 19th, the 36th issue of Odaily Chaohua Community invited Jae Shin, Chief Marketing Officer of Blocko, and Hun Young Park, Chief Technology Officer of Aergo, to give a panoramic introduction to the Aergo project.
According to reports, Aergo adopts the form of hybrid chain, that is, Aergo public chain + Blocko private chain (providing technical support), to provide enterprises with customized blockchain deployment, scalability, distributed governance and privacy. At the same time, Aergo enables each enterprise to have its own "main network" through side chain technology, and at the same time can achieve a processing capacity of more than 1 million TPS/s.
Another major feature of Aergo is that, compared to Ethereum's Solidity language, it supports Aergo written in the SQL language, which will allow more engineers to lower the threshold for smart contract programming.
In addition, Aergo has reached a strategic cooperation with Blocko, a blockchain infrastructure provider. Aergo will develop a better enterprise-level private chain based on Blocko's well-run COINSTACK platform. It is reported that COINSTACK has supported the large-scale application of many enterprise products, such as Samsung Group.
In 2018, Aergo received $30 million in venture capital. Investment institutions include more than 10 institutions including Sequoia China, FBG Capital, Arrington XRP Capital, OKEx Labs, JRR Crypto, Rockaway Capital, Block Crafters Capital, and Neo Global Capital.
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The following is the dialogue arrangement, enjoy:
OdailyQ1: What is Aergo? What problems is Aergo trying to solve?
Aergo's vision is to become an open platform to run distributed applications and distributed enterprise services on the blockchain protocol + cloud service IT platform. Its goal is not only to provide a stable and secure platform for running distributed applications; but also to provide an infrastructure for enterprise-level companies to deploy their own custom blockchains to create a system that can enhance their Solutions for data integrity.
The problem Aergo wants to solve is the lack of developer-friendly and easy-to-use software tools for smart contract platforms. Most dApps are currently built and hosted on decentralized platforms that suffer from slow transaction speeds, high operating costs, and are incompatible with traditional IT systems. This creates difficulties in IT integration and hinders the adoption of blockchain technology.
The second problem is that many implementations also lack enterprise-class features that are critical for enterprises to run real business applications.
In short, Aergo wants to provide creators with customized blockchains and applications, allowing them to choose to run on public, private or even composite networks, and have maximum flexibility and choice when designing innovative applications.
OdailyQ2: How is Aergo different from other similar projects?
Aergo aims to help enterprises join the blockchain efficiently. Unlike existing blockchain implementations, Aergo not only supports horizontal scaling, but is also optimized for scalability in vertical scenarios. New technologies being implemented by Aergo include: an ultra-fast and efficient blockchain protocol; a new powerful SQL smart contract engine; advanced IT integration APIs; easy-to-use developer tools. This framework allows developers and enterprises to efficiently install, manage and run these applications at scale.
Compared with other protocols, the adaptability of Aergo's core technology in enterprise deployment and the proven quality of service have proved its impressive level.
The new SAM software stack (SQL, Aergo, Meteor) is designed to allow developers to easily build and deploy dApps on the Aergo platform. Compared with Ethereum's Solidity language, supporting Aergo written in the SQL language will allow more engineers to lower the threshold for smart contract programming.
OdailyQ3: Briefly introduce the Aergo series business?
Aergo consists of three parts: the underlying platform AERGO Chain, the AERGO Hub and AERGO Marketplace that access AERGO.
Aergo Hub is positioned as a blockchain hosting service for managing independent private blockchains based on the Aergo chain; conceptually it is very similar to the current public cloud web service. It aims to provide the necessary environment and supporting services to build a private chain with arbitrary nodes.
The core module of Aergo Hub is called Aergo Horde, which is a proposed business process platform that allows multiple blockchains to be installed on and managed by one or more nodes. All participating members must install Aergo Horde to operate and host as a node.
AERGO Marketplace is a one-stop shop where users can search, discover and purchase applications, computing resources and more.
Users can access AERGO Marketplace through the Aergo Hub public interface and manage it through Aergo Horde.
OdailyQ4: What is the difference between Aergo and Coinstack (from Blocko)?
Coinstack is a permissioned blockchain solution from Blocko that has been successfully deployed in several enterprises. Both Aergo and Coinstack offer enterprise blockchain platform frameworks. However, Coinstack is completely private, node providers and applications are independent.
Instead, Aergo is designed as a platform that leverages cloud architecture and public and private blockchain networks. As an upgraded version, Aergo will inherit many key technical components of CoinStack, including its well-developed and tested stable application programming interface (API).
Blocko commits to Aergo as its core contributor and strategic partner. Since Coinstack's source code supports the foundation of the Aergo protocol, Aergo has many features that have been proven in commercial environments.
OdailyQ5: Who is creating the Aergo public network and who will host the network?
Aergo (a non-profit company) and Blocko Inc. intend to launch a public chain as the first members of the non-profit company's operating committee. This is necessary to incubate the DPoS algorithm on the Aergo chain. Following the pilot period, Aergo proposes an automated, rules-based delegation process to ensure the network operates democratically.
OdailyQ6: Does Aergo plan to support smart contracts?
yes. Aergo aims to develop Aergo SQL, a new multi-paradigm smart contract engine for the Aergo chain. It is a relational data model for storing and accessing data, and a SQL-like scripting language for writing smart contracts. Our goal is to allow users to easily create advanced smart contracts using a simple language to enable innovative business products and services.
Execution of smart contracts in the Aergo chain requires users to pay Aergo network tokens as operating costs. In addition, the Aergo chain supports the Ethereum Virtual Machine and enables interoperability between different types of smart contracts.
OdailyQ7: Can other blockchains be connected to the Aergo chain?
Aergo supports bridging through a novel Merkle Bridge mechanism. It allows fast, convenient and economical bridging between Aergo's sidechains, and between Ethereum and Aergo.
OdailyQ8: Does the Aergo chain have transaction fees? What is the intended function of Aergo for enterprises?
The Aergo chain charges Gas for transactions made. In terms of incentives, businesses and IT providers can participate in the Aergo network as nodes or service providers and receive financial rewards in exchange for their resources. This creates a feedback loop that helps the Aergo ecosystem thrive.
OdailyQ9: What is the amount of data running on the Blocko private chain and the growth rate?
At present, Blocko's technology mainly serves South Korea, and its on-chain applications have covered more than 25 million users. For example, top credit card companies have deployed several applications on Coinstack. On average, each app has about 13 million registrations and an average of 1.7 million monthly active users.
OdailyQ10: The Coinstack platform is very popular in South Korea, especially for cooperation with enterprise companies. How do you recommend accelerating adoption outside of Korea?
Blocko recently had a Series B fundraising round. The main goal behind this round is to fund its global expansion. Blocko is setting up offices in London and Hong Kong. London will be the center of the EMEA region, and Hong Kong will be the center of the Asia-Pacific region. Blocko's expansion plans include recruiting top developers from Germany, the UK and France. We have already partnered with a leading bank in Switzerland and have spoken to a number of potential partners, including major European regulated stock exchanges.
