How to convert AION to BTC


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Converting AION to other currencies

Want to convert AION to your national currency? Check the converter above to see what the conversion rate is. Simply select your national currency to see what the price of AION is. The best part is you can place an order for AION directly from the converter once you select your currency!

About AION:

AION is the native digital asset of The Open Application Network (or The OAN), an open-source network facilitating the creation and hosting of Open Applications. Open Applications are designed to put users back in control and are universally accessible across platforms. One example of an Open Application built on the network is BFIT; an Open App that promotes healthy lifestyles and rewards users for being active, by connecting Google Fit users with restaurants and third party diet apps. Additionally, the Open Application Network’s solution allows private and public blockchains to interoperate and communicate with any network. Given their work in interoperability and cross-chain communications, The Open Application Network is a key member of the Blockchain Interoperability Alliance, along with Wanchain and ICON.

The Open Application Network was launched in July 2017. OAN was built by Nuco Incorporated, an enterprise software company that was founded by ex-Deloitte employees in 2016 and specializes in blockchain infrastructure solutions. In March 2018 the project open-sourced its code. In the month following, the OAN mainnet was launched. In November 2019, the project switched to using Unity as its consensus algorithm. Unity is a hybrid of proof-of-work and proof-of-stake, which enabled the introduction of staking to the Open Application Network. The Unity consensus algorithm also increased the protocol’s block reward so that both stakers and miners could be rewarded for their respective participation in the network. Now, the annual AION created is approximately 14,191,200. These tokens are evenly split between miners and stakers who participate by validating transactions on the Open Application Network.

The Open Application Network raised money in September 2017 with two token sales. The first token sale was exclusive to institutional investment firms as well as accredited investors. The second token sale allowed the general public to invest funds into the Open Application Network. There was a total of 466,000,000 AION tokens that were created for this round of funding. There are currently 40,000,000 less AION tokens in circulation. 20% or 93,000,0000 AION tokens were allocated to the previously titled AION Foundation, now called the Open Foundation,  and the initial partners of the network. Another 51.5% or 240,000,000 of the total pool of AION tokens was redistributed to previous token holders as part of the organizations official Token Release Schedule (TRS). The TRS was instituted to incentivize token holders to stay invested for longer periods of time.

The Open Foundation oversees the Open Application Network’s native treasury fund. The funds in the native treasury are used to sustain the project through future developments and upgrades as well as to incentivize community support. The treasury fund operators release a transparency report at the end of each quarter. The report details the funds that were spent to keep the project operating over the previous three month period.