AuroraChain ICO Review

AuroraChain ICO Review: Speed of Light Smart Contract Platform

Key Statistics

Premise

4/5 – Very Good

AuroraChain is the latest smart contract platform that would apply unique consensus mechanisms and blockchain features to build a more secure and “speed of light” operations to link a variety of industries like games, IoT, big data, and AI. They aim to resolve smart contract issues such as congestion, scalability, and upgradability.

To accomplish this, AuroraChain will utilize DPOS+BFT (Delegated Proof of Stake and Byzantine Fault Tolerance) consensus mechanisms to facilitate high-speed transaction and TPS to reduce the risk of forking. They have also developed a P2P Stereo-net which allows faster and safer communications through network layering.

AuroraChain also offers intelligent app isolation which regulates and prevents applications from affecting each other. Cluster grouping allows transaction verifications and decreases the cost of data storage for users. Through multi-asset launching, they can simplify the process of asset launching, enable them to process at high speed and expand to match main chain coins.

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Team

3/5 – Pretty Good

Officially launched on May 2018, in South Korea, by the team’s founder and CEO Meijun Zhao. He is the co-founder of hbd.com and a partner of Achain. AuroraChain is a Beijing-based firm with community members all over the world. They have members in countries like India, Nigeria, Ukraine, Japan, Australia, and the USA.

AuroraChain has joined the World Blockchain Council, together with BIT.GAME, XFUTURE, and LightSecond to form strategic partnerships and strengthen their network.

They are a community of blockchain and cryptocurrency investors, and enthusiasts brought together by AuroraChain. Information about their founder and team is rather scarce. They haven’t even mentioned their names in their whitepaper. Other than their community members’ pictures names and very brief background, we could not judge how well this team can perform on their project.

Getting to know their team or community is an important process in building trust and garnering support. Aurora team can still work to increase or improve presence and connect with more people. However, we can also acknowledge their efforts for painstakingly updating us on social media by giving out news and reports.

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Token

2/5 – Bad

AuroraChain’s token AOA has a total volume of issuance of 10 billion. AOA tokens are distributed with 26% is allotted to early community members, and 34% goes to investors and partners. The remaining 40% will be used by the Aurora Foundation for daily operations, rewards, and eco-system creation.

It is rather disappointing that we have much to learn about AOA. Lacking details on their tokens shows a huge contrast on how their whitepaper discussed the terms of their project.

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Risk

3/5 – High Risk

According to their most recent weekly report, the Aurora Main Net has already passed its second stage test and will soon be online. They are quite diligent with their progress reports which are good. It gives us people a peek at what is happening on the background.

We have much to learn about AuroraChain’s project and AOA token. In this case, it causes a lot of problems. Without all the information we need, we could not assess their business plan, even the real value of their tokens.

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Summary

3.5/5 – Pretty Good

AuroraChain’s revolutionizing vision can change blockchain world if they succeed. They are creating a bright and colorful blockchain world with fast contracts to link various industries like gaming, IoT, artificial intelligence and big data. The Aurora team seeks to boost the speed of transactions and solve some of the most common issues with blockchain today.

They already have pc and mobile apps ready for download on their websites. Their project has a lot of potentials and still has more room to grow.

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Global From Asia ICO Briefing does extremely early-stage research of token offerings. As the project progresses, details may change significantly or completely. Always do your own research and do not invest more than you can afford to lose.

The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.

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Reviews

Bright and colorful blockchain

★★★☆☆

“ AuroraChain’s revolutionizing vision can change blockchain world if they succeed. They are creating a bright and colorful blockchain world with fast contracts to link various industries like gaming, IoT, artificial intelligence and big data. The Aurora team seeks to boost the speed of transactions and solve some of the most common issues with blockchain today. They already have pc and mobile apps ready for download on their websites. Their project has a lot of potentials and still has more room to grow.”

- Rhea Gonzalez

Aurora Chain ICO Personal Review

★★☆☆☆

“ Aurora Chain’s goal is to link all industries, promote the creation of applications, and build a colorful Blockchain world. However, their whitepaper appears to be very limited in technical explainations. DPOS+BFT This is the Consensus algorithm for Auro Chain. This is almost the same if not exactly the same as the EOS consensus algorithm but then again, we can’t know for sure because they left out a lot of details here. Auro Chain believes they can lower the risks of forking with this mechanism. P2P Stereo-net “A broadcasting network is built among different nodes.” They think that this, on top of network layering, is going to enable fast and secure communications. Proprietary Application Isolation They claim that this will ensure that the different applications won’t affect each other. Multi-chain Parallel Operation This chain structure is more efficient than single-chain structure. They believe that this will infinitely inscrease transaction speed as the number of chains in their platform increases. Multi-asset offering This ensures that process speed and capability of expansion on the side chains are the same on the main chain. Upgradeable They believe their blockchain can be upgraded easily unlike other cryptos. Cluster self-grouping This feature enables nodes to form cluster groups automatically. These groups participate in transaction verification and storage, which they believe, can bring down storage costs among users. Risks Like most ICOs that conceptualize a new type of blockchain optimization, a new feature, or any changes to existing major cryptocurrencies, they don’t mention the trade-offs early. There are always trade-offs when you try to optimize or change a system. Now with all those features they have, they had to have sacrificed something for it, the decentralization perhaps? It might be as decentralized as other cryptos. We can’t know for sure because they didn’t provide much technical details of these pretty features they have. And that, per se, is a big risk from an investor’s perspective. Their whitepaper needs more transparency. They need to show their code in github and share the link. The best course of action would be to be audited by a third-party to inspire confidence or at least lessen doubt.”

- Evan Ezquer

Overall rating: 2.5 out of 5 based on 2 reviews.

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