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🚨 NEW CRYPTOCURRENCY RECOMMENDATION: Anonymous Electronic Online Coin (AEON) 🚨
CryptoNote is an open source application layer protocol which powers Monero, Aeon and several decentralized, privacy-based cryptocurrencies. Back in 2017 all CryptoNote based cryptocurrencies faced a major problem. The Infinite inflation bug which allows for the creation of unlimited number of coins (double-spends) in a way that it is impossible to detect by an observer. Monero (XMR) was the first coin to diagnose and patch this bug. Followed by Monero; Aeon and few other early CryptoNote coins reacted to it and fixed this issue immediately.
Currently there are so many cryptocurrencies based on CryptoNote protocol with each focused on different ideas. Before Electroneum (ETN), the first coin that aimed to be lighter and that focused on mobile friendly ecosystem is Aeon. Aeon coin was all started as an experimental project but since then the community is going strong and the project has evolved greatly. So what makes Aeon special compared to Monero and other CryptoNote currencies and is this is coin worth considering now?
Here let’s see what is Aeon coin, how it is different than Monero and how it all began. Then we’ll see all of its features and technical specifications.
What is Aeon coin (AEON)?
Including Monero there are so many privacy cryptocurrencies that are more popular than Aeon such as Dash, ZCash, PIVX etc. The technology behind each of these privacy coin varies but among the list Monero remains the most favorite privacy coin for many. Monero project is focused towards privacy and anonymity but from usability point of view it stands behind and that is what Aeon coin is focused on. Just like how Litecoin is the lighter version of Bitcoin, Aeon coin aims to be the lighter version of Monero. Aeon is the little brother of Monero and this anonymous cryptocurrency is designed to be faster, lighter, highly-scalable and more mobile-friendlier than Monero.
Aeon (Anonymous Electronic On-line Coin) is an open-source, decentralized cryptocurrency that is aimed towards community. Everybody can use it without any restriction and anybody is allowed to contribute to the project. Aeon was launched on June 2014 by an anonymous user, but for some reason the original developer abandoned the project. Later the community took over and handed it over to “smooth” who is also a core developer of Monero. Now the developer “smooth” leads the project and there is no official roadmap for Aeon. Also there was no premine or insta-mine and it is a pure community based cryptocurrency. As we said anybody can be part of the project.
Aeon is a private, secure and untraceable crypto currency. You are the bank, you control your funds and nobody can track any of your transactions. It has similar emission curve and same max supply as Monero (~ 18.4 Million). The block time is 240 seconds and it uses egalitarian Proof of Work algorithm called CryptoNight-Lite.
Aeon is a fork of Monero which is a fork of Bytecoin. All three are anonymous egalitarian digital currencies that uses same CryptoNote technology and hence all these coins possess the following features:
- Ring signatures: Makes payment untraceable
II. One-time keys: Unlinkable transactions
III. Double-spending proof
IV. Blockchain analysis resistance
V. True anonymity and data protection
VI. Egalitarian PoW: CPU / GPU Mining
For more detailed information on all these features check this link:
Now Aeon is not only about privacy, security and untraceability. It is also about speed, simplicity and usability. Following are the key difference between Aeon and Monero.
Aeon vs Monero
- Aeon uses different PoW and its network has a block time of 4 minutes. Compared to Monero and other CryptoNote coins; Aeon’s light weight PoW allows faster verification of the blockchain. This along with 4 minutes block time the sync times becomes much faster; even on low end computers.
- Less resource usage compared to Monero. Aeon is one of the few CryptoNote coins that has blockchain pruning for scalability. Other coin that has this feature is Masari (MSR). Blockchain pruning aka light full nodes is an option that reduces blockchain file size. With this option anybody can run a full node with worrying about storage limitations.
- Monero and basically all coins that uses CryptoNote protocol are anonymous. Aeon is also anonymous but aside from being fully anonymous Aeon also features traceable transactions. This is optional and it can be used for faster and light weight payments.
- Aeon is a mobile friendly currency and it is designed to run efficiently across all devices such as smart phones, laptops and desktops.
But can mining be done via mobile devices?
Apart from Aeon, there is Electroneum and Stellite (XTL) which is also focused on mobile mining. Also there are some mobile miners which you can find in both Google Play and App Store. But mining using mobile is not as feasible or efficient as you might think and we’ll explain more about this in Aeon coin mining guide.
Now since I’ve covered most of the coin features lets see the technical specifications of Aeon.
Aeon technical specifications:
Coin Name: Aeon
Forked from: Monero
Coin Type: Proof of Work
PoW Algorithm: CryptoNight-Lite
Max coin supply: ~ 18.4 Million
Block Time: 240 Seconds (4 minutes)
Block Reward: Smoothly varying. [Formula: (M−A) / (218) / (1012) where M = 264 −1 and A = supply mined to date].
Difficulty re-target: Every block
Now whether you wish to mine Aeon or Buy Aeon coins you need a wallet to hold funds. You can download Aeon GUI and CLI wallets from their site.
Since Aeon is based on Monero the wallet is also forked from Monero. The usage of both AEON GUI and CLI wallets are same as Monero and since many of you know how to operate this wallet I’ll not go through the setup process in this post.
If you are looking for a paper wallet then you can quickly generate one from this link
Choose Aeon and click on generate wallet to create a new wallet address. But remember to copy all the information shown in the page especially the wallet mnemonic seed. This is what you need to restore your wallet later and to know how it’s done check their guide on restoring Monero wallet.
Aside from paper wallet there is online web wallet called Aeon Pocket. But the team who developed this wallet recently announced that they will shutdown the service soon. So do not use this.
Aeon: market, price and final thoughts
During its early stage Aeon was priced too low and just like every other cryptocurrency the price of Aeon also spiked during the 2017 bull run. It hit as high as $9 and since then the price has dropped significantly. At the time of writing this post Aeon is priced at $1.04 (9,530 Satoshi) and its current market cap is $16.4 Million USD.
The volume is steady and following are the list of exchanges where you can buy sell Aeon coin.
HitBTC (Not recommended)
Bisq (Best for privacy and avoiding KYC)
But is this the right time to buy Aeon?
Both Monero and Aeon are based on same privacy protocol and the lead developer of Aeon is also a developer for Monero. This similarity makes community think Aeon as a test bed for Monero. Aside from this similarity Aeon has its own development goals and it has got an independent community but not anywhere close to Monero.
The Bull 🐃 Case for AEON
Some of our early members remember how LTC rose from $1.20 to $48 in the span of 3 months which is a 40x gain. I see AEON as having similar opportunities.
If AEON reaches 5% of Monero’s marketcap that would imply another 5x gainer in your portfolio. But here’s the kicker…Monero is massively undervalued as well which I’ve posted on dozens of times and this therefore ads exponentially more potential hidden upside to AEON. This is a high risk, high reward play!
In overall, Aeon seeks to be the lighter and faster version of Monero. It has features such as light weight algorithm, optional anonymity and smaller blockchain.
CALL TO ACTION: Buy one position of AEON at current market prices. Please understand, I am recommending AEON as a long term hold. Be mentally prepared to hold this one for considerable time. Since AEON is so small in comparison to Monero, there is a strong possibility of significant growth in the next alt coin bullmarket.
RECOMMENDATION: Buy & Hold NEO 9/9/17
NEO is a Chinese Ethereum clone that has had a really slick marketing campaign. It launched last year as “Ant Shares,” before taking on the name of the hero from The Matrix movies.
Like Ethereum, NEO allows users to create smart contracts and documents that are embedded in cryptocurrency. This allows the creation of cryptocurrency-based agreements like wills and altcoin-based securities such as bonds. It can also be scaled up to create marketplaces.
Unlike most cryptocurrencies; which are shrouded in secrecy, NEO has been very transparent and extensively promoted. The public face and cofounder of its team, Da Hongfei, Tweets constantly and regularly talks to reporters. You can even find Da’s picture on his Twitter feed and he regularly appears at events such as TED talks and conferences.
Strangely NEO might be bringing a disruptive new concept to the world of cryptocurrencies: middle class respectability. Da looks like a banker; or a college professor, and his team is running its initial cryptocurrency offering (NYSE:ICO) like the IPO of a new bank.
This more than anything else might attract
middle and upper class investors to cryptocurrencies. It also gives NEO an edge on competitors like DASH (formerly DarkCoin); and Bitcoin which have very sleazy histories. Particularly because its promoter looks like a guy your mother might buy a mortgage from.
What’s more interesting is that NEO has an office in China that looks the headquarters of any other tech company. Da Tweeted pictures of a bunch of geeks at work in an office space that might belong in Silicon Alley.
NEO was among the hardest hit on Monday, even though they have not done an ICO since last year. ICOs are an upcoming part of their business model, but NEO is not active yet in ICOs, so dumping NEO right now made little sense.
I believe NEO may prove to be one of the most undervalued altcoins on the market today. I believe it is worth 10X its current value.
Here are 5 reasons why investing in NEO would be a wise move:
i. More transaction capability. NEO can perform approx. 10,000 transactions per second. ETH can do 15.
ii. Regulatory compliance. ETH’s platform is not approved by the Chinese establishment, while NEO has a great relationship with Chinese banks and regulations.
iii. China, one of the world’s largest crypto markets, will switch to NEO from ETH over time. See any Chinese business alternative to any foreign website/brand.
iv. NEO has a growing relationship with Microsoft. ETH does not.
v. NEO can be used in most common coding languages. ETH only uses their own Solidity network, meaning there is a learning curve to use ETH, but not with NEO.
NEO is about to complete a standard double ZigZag correction in wave 4. This is one of the best and favorable charts of all crypto currencies. Very clean trends and wavestructures. The best thing about this chart is, that wave 4 can even go below the high of wave 1 and still make a valid uptrend. Normally this would be a wave overlap which is not allowed, but not in this case. In fact, this would be the best thing that could happen to NEO. This would be considered a leading diagonal triangle indicating a big impulse up to come with targets above $200.00
Yes, the correction can easily go lower than it is now, but it does not have to do that. And I would be extremely sad to miss the rally again. This is why I am already in and I will happily buy more NEO if it goes down more…
$899 Per Year If Paid In Crypto