In this post, we would like to present a general overview of the market opportunity and explain what the Aergo project is all about. Subsequently, we will also respond to the most frequently asked questions related to the project.

1. General Overview of Current Blockchain Industry

The blockchain is an invention that introduces for the first time, an incorruptible digital database of transactions that does not suffer from the points of failure (as well as security issues) found in traditional databases. Blockchain technology provides three major characteristics that are important for businesses: Security — Transparency — Trust

However, the use of existing blockchain solutions creates many problems for existing businesses. This is mainly due to missing capabilities and the lack of control over key features of blockchain. As such, most projects are only used for simple proof-of-concept test-cases. Despite many such projects, the evolution of the blockchain stack (for serious business usage) has stagnated. Difficult enterprise IT integration and a lack of developer-friendly and easy-to-use software tools are major factors here. Many implementations also lack the enterprise grade capabilities that are critical to run real business applications in both private and public deployments.

2. Introducing Aergo

Aergo aims to advance enterprise blockchain, by opening up a new era of mass market usage of blockchain. An era where businesses can easily benefit from both public and private blockchain innovation, allowing them to focus on building, deploying and managing new services. In short, the Aergo Project aims to provide, 1) advanced, yet friendly and easy to use technology for a very broad range of developers and contractors, 2) a secure and fast public and private blockchain cloud architecture that is built for businesses, and 3) an open ecosystem for third parties, developers and businesses to connect and engage in.

Aergo’s platform will enable enterprises and developers to easily design, build and deploy their own blockchain applications within the cloud. The platform offers the possibility for creators to tailor their blockchain and applications to their needs, by giving them the choice to run across either a public or private network. By being able to leverage and combine the different characteristics, found in public and private blockchains, enterprises and developers have maximum flexibility and choice, when designing innovative applications and services. Hosting everything on a secure distributed cloud network, removes significant cost and other overheads faced by businesses when they typically establish their own physical infrastructure to run blockchain protocols and applications.

3. Technical Foundation of Aergo

Aergo’s core technology is based on advanced open source technologies and COINSTACK from Blocko Inc., a leading blockchain technology and enterprise IT integration-services company — with operations in the UK, South Korea and Hong Kong. COINSTACK-based blockchain systems have already been deployed to 25 million users in over 20 in-production systems. This includes some of the world’s largest companies, such as Samsung, Hyundai-Kia Motors, Lotte Card and South Korea’s largest financial services firm Shinhan Financial Group. Similar live use cases include local government e-voting and a new small startup business share-dealing service for the Korean Stock Exchange.

Blocko is currently planning and developing some of the core key technologies for Aergo. It will also provide comprehensive IT integration and support services for clients who wish to deploy and maintain new products and business services based on Aergo. New technologies will include: a super-fast and efficient blockchain protocol; a new powerful SQL smart contract engine; advanced IT integration APIs; and easy to use developer tools. These are supported by a new and comprehensive dApp orchestration and deployment framework. This framework allows developers and businesses to install, manage and run these applications quickly and efficiently (and at scale).