Aeron is the first blockchain to use the Proof-of-Area protocol. This technology has emerged as another alternative to the Poor-of-Work protocol used by Bitcoin. This protocol considers ownership of digital assets rather than a system based on computational power. The focus is on eliminating high energy consumption.
It is a decentralized layer 1 blockchain network that offers low fees, allowing anyone to develop dApps and perform everyday transactions instantly. Proof of Area technology makes on-chain transactions extremely fast. It can successfully record 600,000 transactions per second and complete transactions within 100 milliseconds.
What is area proof?
Areon’s proprietary verification algorithm is called Proof-of-Area. It’s future-proof, fast and secure. This brings together several elements of proof of stake and proof of work. Proof of Work Transaction security is enhanced by Proof of Area, which also reduces Proof of Stake transaction costs.
Transaction validation in Proof-of-Area is based on the idea that anyone holding an AreaLand in the metaverse is eligible for random transaction validation. This unique loyalty program verifies transactions and provides block rewards to landowners.
Also, since the number of Metaverse Lands (Areon Lands) is limited, Proof of Area encourages investors to hold the tokens for a long time. As the value of the token increases, the landowner can later sell or rent the token. Owners can build digital stores and software on their land.
How to bet on Areon Network
To stake, users must have a minimum amount of AREA in their wallet. To start the process, you need to select your desired staking period. AREA staking involves locking up tokens for a certain period of time. Users can receive their rewards at any time after the time ends. The longer you lock, the more rewards you get.
Areon tokens do not receive fees from staking rewards. Earnings may fluctuate daily depending on market conditions and products selected. Staking AREA tokens allows you to earn passive income in the form of rewards.
The longer your tokens are held, the more rewards you will receive. To participate in the staking program, a user must have his AREA tokens available on supported exchanges or by participating in the Areon Network system.
Metaverse – Areon City
A network city is a metaverse where anyone can buy, sell, or lease land to various users on the network. Land provided in the Metaverse is limited. Only 50,000 pieces of land are available in the city of Aleon. Land prices increase over time.
30% of the tokens are used for ecosystem development, indicating the focus on long-term growth of the project. This decision will result in the addition of new products.
20% of the tokens were intended for community participation and rewards. Supporters and investors will be allocated his 10%, determined by the Areon team. 10% for his Areon team and 10% for general sale. 10% will be used for listing and liquidity, and the remaining 10% will be used for company reserves.
The huge 30% investment in ecosystem development demonstrates the company’s dedication to moving forward as an investment in the future. This will increase new dAPPs, new integrations, and new partnerships.
With a community-centered approach, 20% of your investment goes toward community engagement and rewards. This includes compensation, engagement and governance activities. A reasonable reduction of 10% in internal reserves shows that the company is confident in its financial stability and the future of the project.
AREA has a market capitalization of $11 million. Its volume is $625,629.46. The self-reported circulating supply amount is 69.84 million AREA. The maximum supply of tokens is 500 million AREA. Fully diluted market capitalization is $79.03 million.
Areon Network Benefits
As the cryptocurrency industry grows, the need for a more scalable blockchain ecosystem is undeniable. This is the most undeniably Layer 1 blockchain project that aims to solve scalability challenges. Some of the benefits associated with networking are discussed below.
AreonChain speeds up transactions: The layer 1 blockchain in the Areon ecosystem has a different architecture built on the Proof of Area mechanism. This increases transaction speed. Therefore, it improves scalability and improves performance.
area land: AreonChain is integrated with Area Lands, which creates a seamless connection between virtual worlds and blockchain. This provides users with a unique experience.
Arion Wallet: It provides users with a wallet where they can store and manage Areon tokens and digital assets. Provides a convenient interface for sending and receiving transactions. Participate in ecosystem skinning and governance.
Arion token: This is the platform’s native token that plays a role in staking, management, and participation. Token holders can participate in decision-making on the platform.
Areon NFT: Users can earn passive income by creating NFTs on the platform.
AreonScan and Areon Education: Both provide educational materials to confirm the success of cryptocurrencies.
Rewards for token holders: Token holders receive rewards for their efforts to secure the blockchain.
Amanda Chinoy is one of the few women who is knee-deep in cryptocurrencies. An advocate for increasing the presence of women in cryptocurrencies, she is known for her accurate technical analysis and price predictions of cryptocurrencies. Readers are often waiting for her opinion on the next gathering. She is a financial professional with her MBA in Finance. She retired from a major financial institution and now focuses on financial education for the general public.