Aergo (AERGO)

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## Aergo (AERGO)

### Consensus mechanism

DPOS and PoA

 Basics

* Started in: 2014
* Mainnet release: 17-4-2019
* Based in: South Korea
* From Binance Research (20-11-2019):

*"Aergo Chain is an open-source hybrid blockchain protocol that combines aspects of public (trust/decentralized) and private (performance/control) blockchains to cater towards enterprise and government level use-cases."*

* From their FAQ (8-6-2020):

*"Aergo proposes to be an open platform for running decentralized applications and distributed enterprise services on a highly-performant and stable blockchain protocol combined with an advanced cloud services IT platform. It aims to not only provide the infrastructure needed for enterprise level companies to build solutions and improve elements of data integrity in their IT systems by deploying their own custom blockchains, but it also aims to provide a stable and secure platform for running decentralized applications. Aergo aims to advance enterprise blockchain by enabling autonomous business and intends to open a new era of mass market usage of blockchain. Through Aergo, it is proposed that businesses can benefit from both public and private blockchain innovation, whilst being able to build, deploy, and manage new services."*

##### "*What is the difference between Aergo and Coinstack (from Blocko)?*

*Coinstack is a permissioned blockchain solution of Blocko that has been successfully deployed within multiple enterprises. Aergo and Coinstack both offer enterprise blockchain platform frameworks. Coinstack, however, is purely private, whereby node providers and applications are self-contained within enterprise organizations. Conversely, Aergo is proposed to be a platform that leverages cloud architectures as well as both public and private blockchain networks. As its predecessor, Aergo will inherit many critical technical components from CoinStack includings its well developed and tested stable application programming interface (API).*

*Aergo proposes to collaborate and leverage the skills and resources available at Blocko, who are committing to Aergo as its core contributor and strategic partner. Since Coinstack's source code supports the foundations of the Aergo protocol, Aergo has the privilege of harboring many functionalities that are proven in a commercial environment."*

## Token

### Token allocation

* Different numbers be found here (13-10-2018), here (21-12-2018) and here (20-11-2019).

### Utility

* From Binance Research (20-11-2019):

"*To vote and manage block producers, AERGO tokens need to be acquired and staked. Users may decide to pay cloud providers to host their private blockchains on dedicated nodes, instead of hosting them themselves. Enterprise clients may access additional third-party services via AERGO."*

## Tech

* Whitepaper can be found here (17-7-2018).
* Code can be viewed here.
### Transaction Details

* Capacity (TPS): 10.000 or more
* Latency:

### How it works

* Delegated Proof-of-Stake according (8-6-2020) to Messari

* From Binance Research (20-11-2019):

*"Private blockchains on the Aergo platform run on a Leader-based Proof-of-Authority (PoA) consensus mechanism powered RAFT algorithm, while the public blockchain network, the Aergo mainnet, runs on a Byzantine Fault-Tolerant Delegated Proof-of-Stake (BFT DPoS) mechanism."*

From this interview (8-6-2020):

"*Firstly, we have the AERGO main network, core technology and core protocol which are openly shared through open source and verified by the community. Secondly, these components are packaged and our B2B products are delivered by AERGO Enterprise. Lastly, our AERGO Hub serves as a PaaS service that combines platform and service to allow use of blockchains.*

*We launched a network called AERGO main network, which has a performance that is hundreds of times better than Ethereum. However, it does not provide decentralization well compared to Ethereum. While Ethereum is composed of direct democratic foundation, our work resembles a vote-mediated indirect democracy. In our case, since performance has been heightened, decentralization has been reduced. Therefore we are attempting to form a linkage with Ethereum and bring their reliability and decentralization. As I mentioned, hybrid model links two different chains through our internal technology, Merkle Bridge. We provide a technology that allows transfer of digital assets from one side to another. In customers’ private chains, we also create small side chains.*

## Privacy Method being used

* From their whitepaper (17-7-2018):

*"DATA ISOLATION*

*AERGO intends only to allow users with adequate permission to access ledger data by providing git-like private repositories. By creating a new branch from a remote parent branch, users are able to keep newly created blocks in a private branch, such that they are isolated from the public. Only with those permission to the specific repository housing the branch are able to access the blocks.*

*DATA SHARING*

*A specific branch can be synced with remote repositories to exchange data. In this case, the private branches of the repository can either cherry-pick relevant commits from the public repository or merge the whole change set automatically."*

## Oracle Method being used

* From their whitepaper (17-7-2018):

*"AERGO supports integrating smart contracts inside the walled garden of blockchain, as well as smart contracts that have regard to external events and factors through implementing smart oracles. Smart oracles seek to provide following functionalities:*

*• Allow smart contracts to consume data from legacy systems such as Active Directory*

*• Allow smart contracts to trigger events in external services such as e-mail or SMS*

*From the perspective of a smart contract, smart oracles are external factors that are coupled to a specific smart contract; smart oracles react to changes to the coupled smart contract and inject data as a response. In some cases, smart oracles can trigger smart contracts autonomously. From the perspective of a dApp, smart oracles implement micro-services that expose external functionalities required by the dApp. Since smart oracles and dApps can communicate off-chain, the micro-services provided by smart oracles can be used to implement an out-of-band communication required by the smart contract; a common use-case includes exchanging an authentication token between a smart oracle and dApp."*

## Audits

* Bug bounty program can be found [insert here].

## Usage

* Claims (8-6-2020) to have 'over 25 million users'.

## Team, Funding, Partnerships, etc.

### Team

* Full team can be found here (8-6-2020).
* Developed by Blocko, a South Korea-based enterprise blockchain solutions provider with over 50 personnel.
* Won Beom Kim; CEO & Chairman
* Phil Zamani; president

### Funding

* List of backers can be found here (8-6-2020) and include, among others; Sequoia Capital China, 21M Capital, Arrington XRP Capital, dFund, FBG Capital, NEO Global Capital and Node Capital.