Contact us anytime to know more — Abhishek P., Founder & CFO CISIN
Aion Network, a nonprofit organization committed to developing resources to advance blockchain technology, today unveiled a new virtual machine that builds upon the well-liked Java Virtual Machine.
The ultimate objective is to raise blockchain's profile among developers.
The absence of developer tools in a standard language like Java, according to Aion CEO Matthew Spoke, has been one of the obstacles to blockchain solution adoption becoming more widely adopted.
The business thought that by creating a blockchain-specific virtual machine on top of the widely used Java Virtual Machine (JVM), they might encourage the wider application of blockchain ledger technology.
The Aion Virtual computer (AVM), a virtual computer that runs on top of the JVM, is being announced today. Without requiring any changes to the JVM, AVM enables developers to include blockchain components like smart contracts using their already familiar toolkit.
"We had no intention of changing the JVM. Our goal was to create an additional software layer that can communicate with the JVM.
Blockchain industry meets a certain set of requirements. According to Spoke, "They must be deterministic; the computation must occur throughout the dispersed network of nodes; and the JVM was never designed with this in mind."
Aion's goal was to create a blockchain virtual computer without creating anything from scratch.
It was aware that Java remained one of the most widely used programming languages, and it had no intention of interfering. It actually intended to capitalize on the popularity by developing a blockchain Ecosystem interpreter that would run atop the JVM without interfering with it.
Can we just put the system people are accustomed to on top of the decentralized blockchain rather than attempting to persuade them of the benefits of a new one? We began working on that answer through engineering.
And we've been working on it for the past year or so, as seen by our release this week.
Aion has been concentrating on the cryptocurrency community up to this point. Still, the business thought that in order to advance the blockchain outside the purview of true believers truly, it needed to devise a method for developers who weren't involved in this to benefit from it.
We want the public blockchain network to virtually become a microservice consensus layer to the problems that regular software engineers solve on a daily basis.
AION: What is it?
We must first comprehend the three generations of blockchains in order to comprehend AION.The initial iteration of Blockchain technology is represented by Bitcoin, which fundamentally addresses the issue of transparent peer-to-peer financial transactions in the absence of intermediaries.
The Ethereum consortium blockchain, in its second iteration, enables programmers to create decentralized applications and employ complex algorithms to implement what are basically known as smart contracts.
The incompatibility of the first and second generations was a concern. Every day, a large number of new chains and coins appear.
As a result, it is challenging for cryptocurrency users to sell off all of their holdings on one chain and begin constructing them all over on another.
Indeed, there are cryptocurrency exchanges that address the interoperability issue, but they are all centralized.
Major cryptocurrency exchanges have also experienced problems with bankruptcy.The first third-generation blockchain implementations were made in the world by AION's developers to address this issue. AION's interoperability solution facilitates the migration of values, logic, and liquid assets to other blockchains.
In essence, AION wants to become the internet of blockchain implementation.
How Is The Aion Blockchain Operated?
The participating networks can create chains amongst one another thanks to Aion's multi-tier permissionless blockchain network.
Essentially, AION serves as a central hub for the networks that are involved. By traversing the AION blockchain, data may be moved across permissionless blockchains.
AION's multi-tier network is made up of four fundamental parts.
- Connecting Network
- Interchain Transactions
- Participating Networks
To better understand how the AION network functions, let's take a closer look at them.
Connecting Network
The protocol known as the Connecting Network facilitates communication across blockchains that are involved. Communication between Private and Public Chains is permitted.Message routing across involved private blockchains is made possible via the bridge consensus protocol.
AION substitutes the centralized organization that served as the connecting bridge with its private blockchain. Resulting in complete decentralized responsibility.
- Additionally, the network that connects.
- Ensures that the data is accurate.
- Seamless data flow.
- Ensuring that no data is lost during a record of transaction.
- Control transactional challenges.
Read More: Java: Still in Demand This Year? Cost, Gain, and Impact Revealed!
Interchain Transactions
We now understand how AION creates what is known as a blockchain amalgamation or an interconnected system by joining many private blockchains.
However, how is the real two-way exchange of logic, assets, and messages carried out?
Well, interchain transactions help achieve this.The source blockchain starts the interchain transactions. After that, it travels across the bridge and the networks that link it to the desired blockchain.
You may find all of this to be bewildering. Here's an example to help us understand how it functions. Assume we have two chains, A and B, which are our source chains.
Data must now be moved from chain A to chain B.
Thus, to carry out that:
- A transaction between chains is started by source chain A.
- Through the bridge and the linked network, the transaction is carried out.
- After reaching the intended blockchain B, the transaction successfully moves data between them.
Every interchain transaction fees consists of a few fundamental parts:
- Payload: The real information that users want to transfer between chains.
- Metadata: This is where the route details and related costs are found.
- Merkle Proof: Users are able to avoid the connecting bridge by using this optional step.
The entities responsible for validating interchain transactions are known as bridges.The state changes to receive when a bridge validator notices an interchain transaction.
Once the forwarding costs are paid, the validators sign and publish the transactions as legitimate. Upon being granted two-thirds of the votes from validators, the state changes to On Hold.In addition, until the transaction is finished, the linked blockchain token will be frozen and held.
Assume that the deal receives fewer than two-thirds of the vote. After that, the transaction status shifts to Rejected and then, finally, to Finalized.The transactions are subsequently sent to the connected network after the On Hold state.
The state is updated to Confirmed and subsequently to Finalized upon receiving a confirmation from the destination blockchain.All of the fees are given to the bridge validators and connected network when the Finalized report is displayed.
Participating Network
If a network wants to participate in the AION ecosystem, it must adhere to a few rules. A network is referred to as participating when it satisfies the requirements.
The AION ecosystem is not just restricted to blockchain organizations; anything and anyone may be a part of it.
If they meet the requirements, even database clusters, scriptlets, and oracles are eligible to take part. The prerequisites are:
- The most apparent need is that the network that participates be a decentralized network.
- Must be able to distinguish between interchain and normal transactions.
- Acquainted with the bridge's consensus mechanism procedure and the storage of legitimate transactions.
- When in the On-Hold state, transactions can be stopped.
Conclusion
By offering this method of accessing blockchain services, the business hopes to raise awareness of blockchain principles among developers who may not have otherwise heard of them.
The company has given this a lot of consideration and thinks it will help them promote this technique with a larger audience of developers going ahead. It's just one attempt to introduce blockchain to more business-oriented use cases.
