Aionâs token may have grown up on the ethereum blockchain, but itâs moving out.
The Aion network has been built to foster interoperability across blockchains. One of the key tools to this functionality is the networkâs âtoken bridge,â which is designed to allow tokens to move between chains.
The first token bridge will work between the Aion network and ethereum, on which its token currently operates.
Rather than using a smart contract to hold copies of tokens, as pairs of networks like Kikâs new chain and ethereum will do, Nuco has proposed actually destroying tokens as they move â put simply, so there really is only one token at a time.
According to Matt Spoke, CEO of Nuco â the company founded by Deloitte alums thatâs behind Aion â the bridge then âissues an AION [token] on the other side.â
âItâs a micro-network, itâs a collection of nodes thatâs decentralized, thereâs multiple participants, and those other nodes on the network are acting honestly, but that bridge is responsible for agreeing they witnessed the event,â Spoke went on to say. âThatâs the function that we built in.â
Ethereum will come first, according to Spoke, but the plan is to extend it across all blockchains.
âThe design of the bridge is going to get more and more generic over time. We want that to communicate with any other blockchain,â he told CoinDesk.
The token bridge is Aionâs next step on its roadmap, following the launch of its mainnet at the end of April.
âEven in the enterprise context, interoperability, every one of their RFPs [request for proposals] has an interoperability requirement ⦠Hyperledger networks can all talk to each other and theyâre all private,â Spoke pointed out. âBut thereâs not a common solution for a cross between protocols.â
Additional reporting by Pete Rizzo.
Pinion and chains image is public domain