Everything in cryptocurrencies is experimentation and learning, if you discover a coin you have to study and learn from it to know it. AEON gathers everything to become a “lifestyle” as its official website says.
AEON is a private, secure, untraceable currency. You control your funds, and nobody can trace your transfers. It has the following characteristics according to its official site:
PoW algorithm: CryptoNight-Lite
Max supply: ~ 18.4 million
Block reward: smoothly varying
Block time: 240 seconds
Difficulty: retargets at every block
It is simple and profitable to mine AEON, just download the MinerGate miner on your laptop and since it’s a CryptoNote you can mine it on a computer easily.
The good news is that it produces more Hashrate than the other currencies. The AEON community states that it is the only one currency that duplicates the hashrate of computer capacity, that doubles your chances of winning by mining.
AEON is born from a fork of Monero XMR which gives it a great development support in its programs and wallets.
How is AEON different from Monero XMR?
Compared to our CryptoNote big brother Monero XMR, here are AEON’s main advantages:
1 MB scratchpad allows AEON to run on mobile devices alongside regular laptops and desktops.
- Different proof-of-work
AEON’s lightweight PoW (CryptoNote-Lite) allows for faster verification of the blockchain.
- Blockchain pruning for scalability
Pruning allows the blockchain to stay small and not outgrow devices with limited storage. This feature also improves anonymity by reducing age-based attacks.
- Fast syncing
Compared to Bitcoin variants, CryptoNote coins typically have higher verification, leading to more orphaned blocks. AEON helps this issue by using a 4-minute blocktime, reducing sync by a factor of four. Coupled with our lighter PoW, sync times on lower end devices can be improved by 10x or more.
- Optional lightweight transfers
As a CryptoNote coin, payments are still anonymous by default. But unlike Monero XMR, AEON also allows for traceable transfers. These are a faster lower-fee option for non-sensitive payments, like transferring to / from exchanges.
One of the great advantages of AEON is its ease of transmission and security, it has one of the lowest commissions and is one of the safest in the universe of cryptocurrencies.
Something very important in the development of a currency is its experience and continuous updating. AEON programmers continually update the wallet protocol which makes their security on the platform grow and be more solid.
It is said that one of the main developers of AEON is “Smooth” who leads the project since April 2015 and who has made statements
“AEON is certainly targeting running to node on a smartphone, but I do not think it is possible to completely rule out Monero XMR (someday) doing that too.
As answered above by others the idea is experimental and perhaps even stupid things. Some of them may be adopted by Monero XMR in time, others may not.
Also, as I said earlier in Monero’s history when the clones were first appearing, what makes a stronger coin is defeating clones. (I reject the idea of expecting to stop cloning by trash talking clones or cloning, as Adam for example tries to do.) Every coin is defeated as credible evidence that the community, process, and technology of the original is sufficiently fit.
So you can think of AEON as a sparring partner to keep Monero XMR healthy and strong. :)”