April 15 2022
AEON: An Alternative To Monero (XMR)
AEON is a privacy-oriented cryptocurrency. But unlike Monero, you can send transparent transactions, optionally, that costs less fee and faster confirmations. And, Aeon uses CryptoNote-Lite for proof of work consensus, which as the name suggests is faster than CryptoNote algorithm.
Also, AEON does blockchain pruning. That is abandoning old data that is no longer relevant. For example, at the block 956524, the miners might not need the data of first hundred thousand blocks’ data. They can just store the balances of the addresses instead of the too old transactions as, if the transactions are very old, it means those transactions are solid. A detailed whitepaper, however, is not available. So, we are not sure how precisely the blockchain pruning is performed.
The rest, AEON works similar to Monero and, uses ring-signatures for transactional privacy.
The current supply of AEON is around 15.8 million tokens. And, the maximum supply limit is 18.4 million.
The block reward varies based on the network circumstances and, so do the block difficulty ― that is, the difficulty level of proof of work. Besides, the block time is 240 seconds.
Moreover, the project is open source, and anybody can contribute. And, anybody can use the code freely without restrictions.
The official site provides wallets alongside mining clients for Windows and Ubuntu/Debian. Support for more platforms might be available soon.
How to get AEON?
It is traded in the cryptocurrency exchanges Bittrex and Poloniex.
Mining is also a good option. A typical CPU will do the job for you.
As said earlier, AEON has no whitepaper that clearly explains how it works. And, before buying AEON, know about it thoroughly and understand how it works. The Reddit forum says it is as same as CryptoNote technology.; thus, it doesn"t need a white paper. Anyhow, stay vigilant and be safe.