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CryptoNote is an open source application layer protocol which powers Monero, Aeon and several decentralized, privacy-based cryptocurrencies. Back in 2017 all CryptoNote based cryptocurrencies faced a major problem. The Infinite inflation bug which allows for the creation of unlimited number of coins (double-spends) in a way that it is impossible to detect by an observer. Monero (XMR) was the first coin to diagnose and patch this bug. Followed by Monero; Aeon and few other early CryptoNote coins reacted to it and fixed this issue immediately.
Currently there are so many cryptocurrencies based on CryptoNote protocol with each focused on different ideas. Before Electroneum (ETN), the first coin that aimed to be lighter and that focused on mobile friendly ecosystem is Aeon. Aeon coin was all started as an experimental project but since then the community is going strong and the project has evolved greatly. So what makes Aeon special compared to Monero and other CryptoNote currencies and is this is coin worth considering now?
Here let’s see what is Aeon coin, how it is different than Monero and how it all began. Then we’ll see all of its features and technical specifications.
What is Aeon coin (AEON)?
Including Monero there are so many privacy cryptocurrencies that are more popular than Aeon such as Dash, ZCash, PIVX etc. The technology behind each of these privacy coin varies but among the list Monero remains the most favorite privacy coin for many. Monero project is focused towards privacy and anonymity but from usability point of view it stands behind and that is what Aeon coin is focused on. Just like how Litecoin is the lighter version of Bitcoin, Aeon coin aims to be the lighter version of Monero. Aeon is the little brother of Monero and this anonymous cryptocurrency is designed to be faster, lighter, highly-scalable and more mobile-friendlier than Monero.
Aeon (Anonymous Electronic On-line Coin) is an open-source, decentralized cryptocurrency that is aimed towards community. Everybody can use it without any restriction and anybody is allowed to contribute to the project. Aeon was launched on June 2014 by an anonymous user, but for some reason the original developer abandoned the project. Later the community took over and handed it over to “smooth” who is also a core developer of Monero. Now the developer “smooth” leads the project and there is no official roadmap for Aeon. Also there was no premine or insta-mine and it is a pure community based cryptocurrency. As we said anybody can be part of the project.
Aeon is a private, secure and untraceable crypto currency. You are the bank, you control your funds and nobody can track any of your transactions. It has similar emission curve and same max supply as Monero (~ 18.4 Million). The block time is 240 seconds and it uses egalitarian Proof of Work algorithm called CryptoNight-Lite.
Aeon is a fork of Monero which is a fork of Bytecoin. All three are anonymous egalitarian digital currencies that uses same CryptoNote technology and hence all these coins possess the following features:
- Ring signatures: Makes payment untraceable
II. One-time keys: Unlinkable transactions
III. Double-spending proof
IV. Blockchain analysis resistance
V. True anonymity and data protection
VI. Egalitarian PoW: CPU / GPU Mining
For more detailed information on all these features check this link:
Now Aeon is not only about privacy, security and untraceability. It is also about speed, simplicity and usability. Following are the key difference between Aeon and Monero.
Aeon vs Monero
- Aeon uses different PoW and its network has a block time of 4 minutes. Compared to Monero and other CryptoNote coins; Aeon’s light weight PoW allows faster verification of the blockchain. This along with 4 minutes block time the sync times becomes much faster; even on low end computers.
- Less resource usage compared to Monero. Aeon is one of the few CryptoNote coins that has blockchain pruning for scalability. Other coin that has this feature is Masari (MSR). Blockchain pruning aka light full nodes is an option that reduces blockchain file size. With this option anybody can run a full node with worrying about storage limitations.
- Monero and basically all coins that uses CryptoNote protocol are anonymous. Aeon is also anonymous but aside from being fully anonymous Aeon also features traceable transactions. This is optional and it can be used for faster and light weight payments.
- Aeon is a mobile friendly currency and it is designed to run efficiently across all devices such as smart phones, laptops and desktops.
But can mining be done via mobile devices?
Apart from Aeon, there is Electroneum and Stellite (XTL) which is also focused on mobile mining. Also there are some mobile miners which you can find in both Google Play and App Store. But mining using mobile is not as feasible or efficient as you might think and we’ll explain more about this in Aeon coin mining guide.
Now since I’ve covered most of the coin features lets see the technical specifications of Aeon.
Aeon technical specifications:
Coin Name: Aeon
Forked from: Monero
Coin Type: Proof of Work
PoW Algorithm: CryptoNight-Lite
Max coin supply: ~ 18.4 Million
Block Time: 240 Seconds (4 minutes)
Block Reward: Smoothly varying. [Formula: (M−A) / (218) / (1012) where M = 264 −1 and A = supply mined to date].
Difficulty re-target: Every block
Now whether you wish to mine Aeon or Buy Aeon coins you need a wallet to hold funds. You can download Aeon GUI and CLI wallets from their site.
Since Aeon is based on Monero the wallet is also forked from Monero. The usage of both AEON GUI and CLI wallets are same as Monero and since many of you know how to operate this wallet I’ll not go through the setup process in this post.
If you are looking for a paper wallet then you can quickly generate one from this link
Choose Aeon and click on generate wallet to create a new wallet address. But remember to copy all the information shown in the page especially the wallet mnemonic seed. This is what you need to restore your wallet later and to know how it’s done check their guide on restoring Monero wallet.
Aside from paper wallet there is online web wallet called Aeon Pocket. But the team who developed this wallet recently announced that they will shutdown the service soon. So do not use this.
Aeon: market, price and final thoughts
During its early stage Aeon was priced too low and just like every other cryptocurrency the price of Aeon also spiked during the 2017 bull run. It hit as high as $9 and since then the price has dropped significantly. At the time of writing this post Aeon is priced at $1.04 (9,530 Satoshi) and its current market cap is $16.4 Million USD.
The volume is steady and following are the list of exchanges where you can buy sell Aeon coin.
HitBTC (Not recommended)
Bisq (Best for privacy and avoiding KYC)
But is this the right time to buy Aeon?
Both Monero and Aeon are based on same privacy protocol and the lead developer of Aeon is also a developer for Monero. This similarity makes community think Aeon as a test bed for Monero. Aside from this similarity Aeon has its own development goals and it has got an independent community but not anywhere close to Monero.
The Bull 🐃 Case for AEON
Some of our early members remember how LTC rose from $1.20 to $48 in the span of 3 months which is a 40x gain. I see AEON as having similar opportunities.
If AEON reaches 5% of Monero’s marketcap that would imply another 5x gainer in your portfolio. But here’s the kicker…Monero is massively undervalued as well which I’ve posted on dozens of times and this therefore ads exponentially more potential hidden upside to AEON. This is a high risk, high reward play!
In overall, Aeon seeks to be the lighter and faster version of Monero. It has features such as light weight algorithm, optional anonymity and smaller blockchain.
CALL TO ACTION: Buy one position of AEON at current market prices. Please understand, I am recommending AEON as a long term hold. Be mentally prepared to hold this one for considerable time. Since AEON is so small in comparison to Monero, there is a strong possibility of significant growth in the next alt coin bullmarket.
Decent.bet is a transparent, smart contract based sports betting platform and online casino. Employing the Ethereum blockchain based smart contracts, Decent.bet is aiming for mass adoption. Unlike other decentralized gambling platforms which primarily use Ether and Bitcoin for transactions, Decent.bet makes use of specialized ERC20 tokens – DBETs to facilitate bets on the platform as well as buy credits in the house, known as DBET house credits. This opens up numerous possibilities such as community owned houses, white label solutions and more.
DBET has a long-term plan to build out an open source platform that will allow anyone to build their own games, predictive markets or casinos. In November 2018, they launched their first project, an online wagering system.
DBET is built on the VeChainThor blockchain, which I recommended here.
In short, DBET powers its own casino, but because its open source, other developers can build casinos and games using the token. This will increase demand and users when the next crypto rally starts. I expect to see DBET go back to its all-time high this year. That’s 30x from where it is today.
I connected with Steve Preiss, the VP of Marketing for DECENT.bet on LinkedIn recently and asked him how DBET fits into our CWC big picture strategy.
“The DBET token is used to facilitate wagering on the DECENT.bet platform by gaming enthusiasts who play on our platform.”
Steve went on to say that “the future of gambling is social, interactive, peer-to-peer, where users dream of an idea, create it and then send it out to the world to be enjoyed. Those users will need our token to participate. So if you believe this to be the future of gambling, then our token facilitates your ability to participate.”
I’m giving DBET a question mark here because for now it is just a gaming token approved for limited jurisdictions. I’ll update all VIP’s when this changes
Does DBET Solve a Problem?
“The industry leaders in online gaming are all centralized operators. That means that all of the code around betting odds for each game is in their private system and you have to trust they are operating honestly. DECENT.bet creates a trustless, transparent system where all of the odds are in VeChain smart contracts and can be verified by anyone.”
Steve also said “users also control their funds in their own wallet, so with our decentralized games we are not the custodian of any funds.”
In short, Steve says there’s a critical distinction between blockchain based gaming companies and other online gaming companies.
I. The rules, odds, and results are publicly verifiable via the blockchain.
II. Your funds stay in your wallet (unless, of course, you’re actively using them in a wager). In other words, when you are done with a gaming session, you do not need to cash out and wait to be paid by someone on the other side of the world. Your funds are already in your wallet.
But that’s not the only problem the crypto is solving…
“The real problem, from our perspective, is that gambling has lacked innovation for quite some time.”
DECENT.bet is giving younger gamblers the tools to create new forms of online wagers, from prediction markets to e-sports (wagering on live video game competitions).
“The product itself is a fixed supply token without a pre-mine. All founders’ tokens were instead minted off of a percentage of the total supply issued. We use a blend of centralization and decentralization to ensure the best user experience possible, as well as the benefits that each approach offers, without sacrificing any of the trust or transparency that decentralization provides.”
Ease of Use:
Right now, DBET is very thinly traded. Just over US$10,000 worth of DBET trades hands per day. But the number of exchanges is growing, which will allow more gamers to participate.
Currently, DBET trades on LATOKEN, Bancor Network, and HitBTC.
I’ll post when it’s listed on the bigger exchanges.
“We just launched the private mainnet of DECENT.bet at World Crypto Con. The good news is: it works. The bad news is: we still have a long way to go. We view what we launched on October 31 simply as the foundation. It’s the framework of a much larger vision. I’ve been part of technology start-ups almost my entire career. The ones that succeeded didn’t try to do too much at once. They were smart with their money. They had clear product roadmaps and executed.”
Globally, the online gambling market is expected to generate revenues of more than $74 billion a year by 2023. Crypto’s ability to lower costs and increase transparency means we’ll see a big winner in the space. I believe DECENT.bet could be that winner. If it is, demand for the token will grow exponentially.
CALL TO ACTION: Buy DBET at the current market rate and no more than $0.045 if prices start recovering quickly. Prices are down 67% overall today giving us a limited buy in window. You can purchase DBET on the LATOKEN, or HitBTC Exchanges. VeChainThor mobile wallet and the DBET wallet are your best options for storage. Utilize a 35% Stop loss on this penny crypto.