AERGO Chain Price Chart Update [AERGO]

What is AERGO Chain?

AERGO Chain is a decentralized blockchain protocol that utilizes the AERGO cryptocurrency.

Advancements in technology have led to the creation of the AERGO Chain, a platform specifically designed for enterprise and government-level applications. It combines the strengths of both public and private technologies, offering a decentralized and trusted environment for businesses and developers. AERGO Chain provides a comprehensive set of infrastructure components to host blockchain applications. It supports smart contracts written in Lua and SQL and offers features such as distributed versioning and concurrency control.

The AERGO Chain operates on two distinct consensus mechanisms. The private blockchain relies on a Leader-based Proof-of-Authority (PoA) consensus mechanism supported by the RAFT algorithm. On the other hand, the public blockchain, known as the AERGO mainnet, operates on a Proof-of-Stake authorized by the authority Byzantine Fault-Tolerant (BFT DPoS).

To actively participate in block producer voting and management, users are required to acquire and stake AERGO tokens. Furthermore, users have the option to leverage cloud service providers to host their private blockchains on dedicated nodes, thereby eliminating the need for self-hosting. This capability is unlocked through the utilization of AERGO tokens.

Enterprise customers also benefit from the AERGO utility token, which grants access to additional application services from third parties. Additionally, Blocko, a company backed by Samsung, will soon provide new AERGO Enterprise products that will require AERGO tokens for operation, solidifying the token's significance in the ecosystem.

In Action: Lotte Card's Fingerprint Credit Card Verification on AERGO Chain

A notable example of AERGO Chain in action is its implementation by Lotte Card, a financial service provider serving over 25 million users. By utilizing AERGO Chain, Lotte Card is able to enable fingerprint credit card verification, ensuring that the fingerprint provided during checkout matches the identity of the credit card holder. AERGO Chain's Lua smart contract instance with SQL integration acts as the building block for this solution, reducing security costs for fingerprint authentication by 90% as the need for manual verification is eliminated by the blockchain system.

Other notable organizations, including Hyundai Motor Group, Korea Stock Exchange, Shinhan Bank, and POSCO, have also adopted AERGO-based solutions.