01 Jul 2018 Radostin Spasov
AION Climbs the First “Peak” of its Roadmap
The Toronto-based start-up has to complete a number of important steps since the initial launch in the fall of 2017. They are named after three of the highest continental peaks.
The first stage of the AION plan is called Kilimanjaro – the highest mountain in Africa. After that comes Denali, the top peak in North America. And then the final phase is logically dubbed Everest – the highest mountain in Asia and on the surface of the planet.
In the first half of 2018, the Aion coin price recorded surges and dips after its all-time highs in January, when it reached $10.
Soon after that the price marked a drastic value decrease and started to climb once again in April with the release of the Kilimanjaro network.
While the Aion price rose up 100% from $2 to $4, the lift was a short-term success before the coin once again dropped, this time to a level below the one-dollar line.
AION team remained calm since the system was still settling in at the time of these price values.
Initially, the token was available only for Ethereum exchanges which have been only the first step of the road – the attempt to create a stable blockchain based on the smart contracts. The Aion price marked different levels every day with a small rise in the value in the first days of the second half of 2018.
The volume of a trade never fell below the 7-digit line for the 24-hours frame which made the analysts predict that the highest price peaks are yet to come.
The skeptics saw the drop of the Aion price influence the market cap, shrinking from over a half-billion dollars to about $160 million.
Matt Spoke, CEO of AION, has admitted that the Kilimanjaro stage faced some issues but it was needed to some extent to visualize the hardship of the next phases drawn on the roadmap.
Excited about the prospects of the decentralization, Mr. Spoke identified the challenges of the blockchains in “finding the balance between maintaining fairness and accessibility and reducing the tradeoff of inefficiency”.
The Kilimanjaro stage is supposed to be completed soon so that Denali’s climbing can be started by the end of the year.