PRESS RELEASE. A highly anticipated layer 1 project, Areon Network, is launching their mainnet on January 12, remarking the start of the Areon ecosystem.
The date also coincides with Areon’s self-designated birthday: the day when their token AREA was first listed in 2023 on BSC.
What is Areon Network?
Areon stands out as a user-oriented, convenient infrastructure with a comprehensive network. Guided and backed by a foundation, this layer 1 project has a long-term plan for expansion.
The main currency, AREA, is used for all transaction fees as well as dApp usage. It has three main utilities within the network: staking, security and governance.Their website is a good place to learn more about the project.
What is the technical infrastructure?
The Areon Chain is scalable and interoperable with Ethereum Virtual Machine (EVM).
It is built using base libraries that run on top of the Tendermint Core consensus engine. Thus, the chain has fast finality, high transaction throughput and shorter block times (~1.3 seconds).
With a unique consensus method named Proof of Area, the chain is among the top contenders of similar fast & scalable solutions in the market.
Technology-wise, Areon Network is on par with the top names of the industry.
How is Areon different?
Areon’s strategy to be a fast and affordable network makes it an apt choice for everyday use. They also stand out with local communities and transparent support. Their zealous community is actively engaged with the project’s long term deliverability.
Proof of Area may be a novel term but the concept is essentially similar to Delegated Proof of Stake mechanism. The major difference however is the extra benefit of land ownership angle, and Areon Network utilizes that incentive smartly.
Holders with at least 10,000 AREA in their Web3 wallets are entitled to one land ownership in Areon City, their metaverse. This digital space is used for building dApps, advertising or renting.
The limited Maximum Supply also means a hard cap on the availability of these lands. As a result, Areon encourages more holders while also keeping transaction fees low for a larger transaction volume.
Can Areon offer something new to the crypto space?
Areon’s goal to become the most comprehensive network is ambitious and can only go so far as the crypto community’s adaptation.
Neither developers nor users will accept a technology that would be obsolete in the future.
Actions speak louder than words, as they say. So it was essential for Areon to prove their chain’s capability. That is where Areon’s testnet came into play.
Areon proved to be a fast and stable chain with over 15 million transactions without any problems.
Can Areon Chain give the same performance during mainnet as well? Only time will tell.
For now, all we can say is Happy Birthday to Areon Network!
Raksha, a seasoned journalist, specializes in crafting insightful narratives on blockchain and AI developments. With a keen eye for innovation, she distills complex topics into accessible stories, providing readers with a clear understanding of the dynamic intersection between these transformative technologies.
