ICO Review: AERUM
• Name/Token Symbol: Aerum (XRM)
• ICO Platform: Ethereum
• Industry: Blockchain
• Price: $0.6 USD
• Soft Cap: $5 million
• Hard Cap: $20 million
• Number of Tokens: 1,000,000,000
• Start Date: Sept 18, 2018
• End Date: Dec 18, 2018
• KYC: Yes
• Website Url: https://aerum.com/
• White Paper Url: https://aerum.com/lite-paper
The advent of blockchain is already changing the world as we know it. Several global brands and even governments are stepping into the space in a bid to explore the benefits of a decentralized and immutable system. Despite all the positive buzz surrounding blockchain and cryptocurrencies in general, they have their limitations.
Cryptocurrencies like Bitcoin and Ethereum have made remarkable strides. Bitcoin for example was the first cryptocurrency to succeed in utilizing blockchain for financial transactions. Ethereum went a step further by introducing smart contracts and decentralized applications, dApps. Nonetheless, scalability and accessibility are two of blockchain’s primary entry barriers.
In late 2017, during Bitcoin’s bull run (reaching about $20,000), the network experienced a backlog of transactions as more investors tried to get in on the action. Network fees drastically increased, and some transactions did not get confirmed for days. At some point, the total unconfirmed transactions on the Bitcoin blockchain network was over 200,000. To put this in perspective, traditional payment processors like Visa are able to handle up to 56,000 transactions per second (tps). This is an enormous figure when compared to Bitcoin that can handle only 7 tps. Therefore, as legacy blockchain networks grow larger and gain wider adoption, transaction time and fees increase.
On the subject of accessibility, blockchain is still a nascent technology and there are some initial entry barrier developers have to overcome before entering the space. There is a certain level of expertise that developers must have to get familiar with the architecture of blockchains. What this means is that non-tech persons cannot just implement blockchain solutions.
Although many blockchain 3.0 projects are springing up, these solutions are mostly untested.
According to Aerum’s lite paper, their solution “is an infrastructure project aiming at developing practical Blockchain 3.0 compatible with Ethereum - a high-performance, scalable, decentralized platform for B2B and B2C applications.”
The team behind Aerum hopes to build a complete and easy-to-use infrastructure that supports the creations of dApps, while providing free and fast transactions for end-users, increased scalability and throughput time, a decentralized on-chain governance, as well as a full suite of features all participants (end users, developers, and liquidity providers).
Aerum has a robust team that comprises of 11 core team members and 3 advisors. The team is headed by Alexander Randarevich, who is the CEO and co-founder of the blockchain project. He has experience working in the FinTech industry and has received certifications from the likes of VISA, American Express, and Master Card, amongst others.
Apart from the token sale which will run from September to November, 2018, other important milestones on their roadmap includes a MainNet launch (Troposphere) and exchange listings which are expected to happen in December 2018. Between July 2019 and July 2020, Aerum is expected to have released their MainNet Stratosphere, Exosphere, and Magnetosphere.