What is Aragon? Aragon is software for establishing and maintaining decentralized autonomous organizations (DAOs) on the Ethereum Blockchain. In this article, you can access the answers to many questions such as what is Aragon and how does it work. You can also learn how to buy ANT coin. As Kriptokoin.com, we have compiled it for you.
What is Aragon?
Aragon is a network. This network is used to create and manage DAOs within the Ethereum ecosystem. DAOs refer to programs that have a built-in ability to help people manage their code. In this context, Aragon addresses institutional investors and application developers. Accordingly, the project allows corporate businesses to manage their institutions through a modular core design. So Aragon provides infrastructure to businesses and applications. Every DAO that exists within Aragon has smart contracts that define the rights of users.
We have already mentioned that the project is used for creating and managing DAOs. However, Aragon is useful in building dApps, crypto protocols, as well as DAOs. Instead of accessing the intuitive capabilities of centralized and traditional infrastructure and networks, businesses can achieve a powerful and decentralized infrastructure with Aragon. Additionally, there is a native cryptocurrency within the project itself, which has various use cases. The name of this cryptocurrency is ANT coin. ANT should not be confused with ANT Network, a privacy-focused Web 3.0 social media project. Accordingly, Aragon’s native cryptocurrency managed to raise $24 million in its 2017 ICO.
Why is Aragon special?
What makes Aragon special is its system, called the Court of Aragon. Accordingly, not every dispute in DAOs can be resolved with smart contracts. This is where the court steps in. In fact, this court is a decentralized oracle protocol developed and maintained by the Aragon Network. By defining a DAO’s subjective constraints and minority stakeholders, the protocol generates proposal agreements. However, the network; It also has a framework called AragonOS that allows people to raise money, create incentives for DAO users, and make decisions about group participation.
What is ANT coin?
As we mentioned above, the Aragon network allows users to create their own DAO. However, if we look at the network as a whole, it is reasonable to say that there will be times when system-wide decisions have to be made. This is where ANT coin comes into play.
ANT is used in the dispute resolution processes of the Aragon Court. In court, a group of users, called a jury, listens to the facts behind the dispute and makes a decision based on those facts. Hearing these cases takes a long time and may involve complex arguments. That’s why jurors receive token rewards for their time and work. Accordingly, all juries are rewarded with ANT coins for their efforts.
However, if you want to be a judge, you will be asked to convert your ANT coins into a token named ANJ coin. You also need to lock this token into private contracts on the network. Having ANJ allows you to serve as a juror. Thus, you have the opportunity to earn more ANT. In addition to all these, ANT holders also have voting rights on certain decisions within the network. However, this is not surprising for a project on DAOs.
What is Aragon? How to get ANT coins?
If you are interested in the Aragon project, it is a good idea to buy ANT coins. ANT is currently the 333rd largest cryptocurrency with a circulating supply of 39.6 million units. Cryptocurrency is currently traded on many cryptocurrency exchanges. These exchanges include Binance, OKX, Bybit, and MEXC. Investors who want to buy can become a member of one of these exchanges and place a purchase order by uploading an asset suitable for ANT parities to their wallets.
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