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- ANT Aragon network is used to create and maintain its own DAO platform
- ANT Aragon currently works on the Aragon chain, which is an extension of proof-of-stake.
ANT Aragon is open-source software which is based on the Ethereum blockchain, it is used for creating and maintaining decentralized autonomous organizations, it has three main constituents, that is, Aragon association, Aragon client, and Aragon network.
Aragon Association is a non-profit organization that manages the Aragon network by allocating funds through the sale of tokens. Aragon clients help developers in the creation of DAO and manages Aragon network support and it also facilitates communication between user and service which Aragon blockchain provides.
ANT is a native cryptocurrency of the Aragon network, ANT gives multiple utilities to holders on the Aragon network, which allows token holders to vote on proposals and participate in the network governance. The Aragon network allows the host decentralized organization to communicate directly through the Aragon agent application and Ethereum smart contract. Aragon is a unique project which powers the infrastructure of a decentralized organization and interconnects the DAO user to the Ethereum blockchain.
How the ANT Aragon network works
ANT Aragon allows users to develop their own DAO platform on the network, which is supported by ANT cryptocurrency. The developer can develop and deploy any kind of application which is useful for other network participants and the developer can develop these platforms on the Ethereum network.
To make a decentralized application, developers first need to use AragonOS, which is a smart contract containing all the features of a decentralized application. Developers will earn profit based on the usage of their DAO platform.
Founder of ANT Aragon network
Luis Ivan Cuende and Jorge Izquierdo, 2016, launched the Aragon network. They both are also founders of the Aragon Association and Aragon One. Aragon One is the tech behind the Aragon network.
Aragon network, first launched its token for sale in the year 201, which they sold for 275 000 ETH, which was around $25 million at that time. Aragon team officially launched the project in 2018 on the Ethereum network.
How ANT Aragon is a secured Network
Aragon network is secured by the predetermined rules set by the automated consensus mechanism. Aragon is waiting to upgrade Ethereum 2.0, currently, it is working on the Aragon chain which is an extended version of proof-of-stake, this will allow users to spend less on gas fees and use a more cost-efficient system.
The functionality of Aragon is also secured by the Aragon court, they are soon changing its name to Aragon protocol, and the network participant who take part in the court dispute, are called Jurors, they are planning to change its name from Jurors to Guardians, in exchange guardians will receive fees, this whole mechanism will ensure the proper functioning of the network.
The uniqueness of the Aragon network
It allows developers to create decentralized applications with the use of AragonOS and a smart contract which has in-build functions to develop a decentralized application.
Current status
The current price of ANT Aragon is $3.28 USD and the market cap of the Aragon network in the market is $131333709 USD, the coins circulating in the market are 40029852, and the total circulation of Aragon coins is 45094973. According to the coin market cap, Aragon coins are ranked at 171st position
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