What is an Aragon Coin?
The Aragon Coin is a cryptocurrency used in the Aragon network. The Aragon network is a token-driven digital jurisdiction that focuses on optimal growth.
In essence, the Aragon network is an ecosystem in which organizations, entrepreneurs, and investors can make efficient and secure transactions without technical or external risks being able to influence them.
The basis for the Aragon network is the Aragon core, which relies on a DAO framework and web-based decentralized applications (dApps). Basically, the Aragon Core should be used in capitalist driven companies.
However, the developers have designed the Aragon core so that it can also be used in other organizations. The Aragon Coin was also able to impress investors in the context of the Initial Coin Offerings because the sale lasted only 15 minutes.
At the beginning of the ICO, it was determined that buying would end when it reaches an investment target of $24.75 million. In addition to fast target achievement, the Aragon Coin also has the highest market capitalization achieved in an ICO.
What is the main idea behind the Aragon Coin?
Basically, the developers of Aragon Coin see a particular potential in decentralized organizations. They hypothesized that all of mankind’s current problems can be solved by these decentralized organizations.
To achieve this goal, the development of the Aragon token has begun. The basic principle of the Aragon network is to control an organization through a distributed blockchain.
This is intended to make the entire management more efficient and effective than with conventional companies. In addition, the Blockchain should create added value, which is expressed in the reduction of bureaucracy.
Lastly, each person within an organization should be given access to this blockchain, thus avoiding the construction of traditional hierarchies.
The basis of the Aragon core is the Ethereum Blockchain application. The mid-term goal of the developers is to establish Aragon as a trading platform for various target groups.
Basically, the developers were able to identify three cell groups. Here the “Project-Owner” represents the first target group. They should use the platform, above all, for the hosting of different projects.
Furthermore, the open source project users are identified as the second target group. The idea here is that this target group works actively on the projects and financially supports the project.
The final target group is companies that use Aragon to simplify business processes.
Which team is responsible for the development of the Aragon Coin?
Behind the development of the Aragon token is an eight-member core team, which is actively supported by four consultants, with Luis Cuende acting as project leader. In 2011, he was honored as the best and most talented underage developer in Europe.
Furthermore, he was actively involved in the founding of the blockchain startup Stampery. Before he found his enthusiasm for startups, he developed Linux distributions.
As a special success, he was able to develop the first active face recognition for a Linux distribution. The team also includes Jorge Izquierdo, who is responsible for the technical project management.
He was able to establish himself as a hacker and also developed several applications for iOS, MacOS, and Pebble.
Team member Maria Gomey is responsible for the strategic and operational management of the project, while Tata Karki is responsible for communication tasks and improving community relations.
Oliver Nordbjerg is responsible for the development of web design, while Pierre Bertet is responsible for the development of the user interface and customer interactions.
Rounding out the team is Brett Sun, whose task is earned value analysis so that the added value created and the success of the project can be analyzed.
What is the current market capitalization of the Aragon Coin?
The Aragon Coin was officially launched on May 19, 2017, at the crypto markets. In this case, the token was released as part of an Initial Coin Offerings, which ended after only 15 minutes.
The completion of the ICO was announced in advance by the developers and coupled to the condition that at least $24.75 million can be collected. At the end of the first trading day, the market capitalization of the Aragon token was around $39.83 million.
It then hit record highs on June 11 with a market capitalization of $136.2 million. The price per token here was at 4.05 USD.
Subsequently, the token consolidated, bringing its market capitalization to $33.8 million on November 3.
Since then, there has been renewed growth, with a current market capitalization of $109.3 million. The current token price is $3.09.
What special features apply when trading the Aragon Coin?
There are currently 32.25 million Aragon tokens in circulation. A maximum of 39.6 million tokens are available as part of the blockchain, meaning that further growth can take place and the blockchain has not yet realized its full potential.
Mining is not possible with the Aragon token because no active mining algorithm is used to verify transactions. In addition, the Aragon token has a daily trading volume of approximately $1.41 million.
This is mostly done at the trading center Bittrex. In total, Bittrex has a share of trading volume of 73.9%. Here, the trade between Bitcoin and Aragon plays the most important role.
Subsequently, trade between Ethereum and Aragon also plays a relevant role. In contrast, trade between Aragon and the US dollar plays a minor role in trade. Additional tokens cannot be swapped for the Aragon token at the current time.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.