Authoreon – AUTH ICO Smart-Contracts-as-a-Service Blockchain?
As hacking attacks become increasingly sophisticated, cyber security countermeasures are now more important than ever. The blockchain ecosystem has seen more than its fair share of hacking attacks, which has developed an environment in which security is paramount.
A new blockchain based platform is focused on providing decentralized authority for consumers, corporations, governments, and organizations, delivering greatly enhanced verification, certification, and security for a wide range of applications.
The Authoreon platform is currently running an initial coin offering in order to gather the capital needed to complete their project, which is set to provide users with a wide range of different authentication and security services delivered via the blockchain.
In this article, we’ll take a look at the Authoreon platform and find out what it plans to offer, as well as break down the Authoreon ICO to help you determine whether it’s worth investing in or not.
What is Authoreon?
Authoreon is a new blockchain based platform that is intending to address the security issues that are rampant across all industries at this point in time. By focusing on decentralized authorization, verification, certification, and authentication, Authoreon aims to secure data, verify identity, and facilitate traceable product identity.
Authoreon will function as a decentralized network that consists of two separate overlay protocols. The first protocol, Synapse, is an independent application layer that is inspired structurally by the composition of the human brain.
Synapse is intended to enhance the stability, performance, and functionality of the Authoreon platform, and will faciliatate the creation and execution of smart contracts. By substitution stored data, the Authoreon Synapse layer also keeps the blockchain fast, agile, and lightweight.
The second protocol of the Authoreon network is the Access Lock system, which acts as a “gatekeeper”. This layer processes incoming requests to the application layer, and utilizes a complex algorithm that provides one static key and one dynamic temporary key. This element is intended to replace other authentication systems, such as two-factor authentication, and can be used in a wide range of applications.
The Authoreon blockchain itself is built on the Ethereum network, and will function as a public, open-source, censorship-resistant foundation on which the two Authoreon protocols will operate. The Authoreon blockchain is Turing-complete, which enables the execution of smart contracts.
The Authoreon ICO
The Authoreon ICO is currently underway, and is intended to gather the capital necessary for the completion of the Authoreon platform. The Authoreon crowd sale will be capped at $34 million, which will be generated through the creation of 1 billion Autheon tokens, or AUTH.
1% of the tokens generated have already been pre-sold, while 33% will be sold in the ICO. A further 33% is allocated to incentivize participation, while the final 33% will be retained by Authoreon. AUTH tokens are ERC20 compliant, and can be purchased with ETH.
The Authoreon Verdict
The Authoreon platform is an interesting approach to the issue of security and authentication, and offers a wide range of different applications. If you’re interested in the future of blockchain-based authentication and security protocols, the Authoreon ICO is definitely worth considering as ain investments.