[ARCHIVE] A Crypto Pro-Tip


“If you don’t find a way to make money while you sleep, you will work until you die.” — Warren Buffett

Who among us has not wished to earn money while we sleep?

Until now, you could only do this a handful of ways. Besides investments, ownership, and drug trials, few ways existed to make money while you slept. But when Bitcoin started to run, it introduced another important way, one that sent a machine to the mines to work and earn for you.

This new way was also super easy. It only cost a few home electrical bills and off the shelf computer hardware. Within a few years, miners were the first millionaires Bitcoin produced. Their rigs coordinated Nakamoto Consensus and were incentivized and paid with block rewards. The competition between the rigs helped evolve super specialized manufacturers that launch new and improved models every month. The hash rate (security) they’ve produced has seen parabolic growth that dovetails with the price of a bitcoin.

Since this orchestration of technology launched the kind of incentivized coordination and growth seen in Bitcoin, the idea has been copied and other networks and protocols have grown. Nuco has a bird’s eye view of these networks and protocols. The team helped launch the Enterprise Ethereum Alliance. They helped the TMX group create a blockchain platform for natural gas delivery. They also began to help the largest provincial government in Canada build a blockchain identity solution. Last October, they came to an agreement with Moog, a Fortune 1000 company that builds parts for the aerospace and defence industries, to integrate the Aion protocol to help manage their supply chain with partners and suppliers.

This perch has led Nuco down a road to help these blockchain networks interact and grow further. Their answer lies in even more jobs for machines to do while you earn (and sleep).

This starts with connecting networks. These connections are made through bridges. Bridges are built much like bitcoin mining — an open source protocol anyone can run. Validators work on bridges to approve transactions. Where Bitcoin uses Nakamoto Consensus, these validators use a BFT consensus algorithm as well as the introduction of a new consensus mechanism, proof of intelligence. The Aion token rewards these validators so they earn and attract the participants needed to run the protocol securely.

In short, Nuco has grasped how crypto-economic forces can be harnessed to grow networks. Some experts and cynics around the current blockchain boom have rejected the idea that such a thing as crypto-economics even exist. “It’s just economics,” you’ll hear them say. This criticism might be true, but it ignores the idea that some new economic forces were unleashed when Bitcoin launched.

Nuco’s vision with Aion is an attractive economic system that opens opportunities for machines anywhere in the world. Witnessing transactions, signalling to blockchains, incentivizing the use of cryptographic signatures all lie at the heart of this network’s growth. The coordination of this P2P network amounts to a new economic force. Nuco has put out the Help Wanted sign. Jobs have been created that can help you earn while you sleep.


written by

Aion

The blog for the digital asset of The Open Application Network