The State of Aeon 8_23_2018
This is the first official State of Aeon Weekly Roundup. A little back story on Aeon: It was forked from Monero back on 6.6.2014 at 6:00 PM UTC, with no premine or instamine. It has no dev tax. 100% of funding is by voluntary community donations which have created a dev fund of almost 1 million USD (as of May 2018 prices). Nobody really knows who created AEON but the project was soon thereafter picked up by Smooth_XMR, one of the supporting developers of the MONERO codebase who to this day, still helps develop and maintain the AEON codebase with Stoffu and the AEON community.
AEON is based on the CryptoNote protocol and was the first Cryptocurrency to use the CryptoNight-Lite algorithm with 1MB scratchpad (Half that of CN based coins like Monero). Modifications to the codebase are recommended and invited to any members of the public. Anyone can make a pull request on GitHub with modifications they see fit to the AEON codebase. PR’s are reviewed by Stoffu, Smooth_XMR, and if needed MoneroMOO or others from the XMR dev team and also public comment before being implemented for release candidates.
— Unlinkable transactions with random data by the sender
— Untraceable payments uses ring signature
— Lightweight software using LMDB
— Blockchain analysis resistant
— CPU/GPU mining, ASIC-resistant
Some of the Technical Specifications are:
Maximum coin supply: ~18.4 million
Block Target Time: 240 seconds (4 minutes)
Difficulty: Retargets every block
Block Reward: Smoothly varying using the formula (M−A) / (218) / (1012) where M = 264 −1 and A = supply mined to date.
Minimum Mixin: 1 (only allowed on up to 10% of the total block TX) otherwise ring size 3 is the minimum allowed. Note: This may be increased to 4 or higher on future releases
Cryptonight-Lite V7 Algorithm
BTC Talk ANN: https://bitcointalk.org/index.php?topic=641696.0
Official IRC: #aeon on Freenode
Official FFS Public Project Funding site: TBD
There is much in store for the future of AEON. Public input and Pull Requests for the code along with new features or adjoining software is recommended.
Aeon is looking to implement RingCT and Bulletproofs once the code review is finalized by the Monero team later this year. This will also allow AEON to enable multi-signature wallets. After this release, AEON will truely become untraceable along with MONERO for those using mixin 3 or higher. AEON may also merge and release the final code for LEDGER support if time permits allowing users to cold store their currency if they desire.
Keep tuned into the State of AEON for future updates. Welcome to all newcomers and feel free to become part of the AEON community wherever you can!