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I am always being turned on to something new, this time around it is AEON. AEON is a cryptocurrency based on the same idea as Monero, privacy. However, it adds one thing that many others have failed to, it is portable. Meaning, it is so lightweight, you can run a wallet on your phone. This, along with its privacy features makes it an ideal candidate for the next high-value coin in the upcoming year.
AEON is built on Monero and it shares some of the same privacy features of Monero, but there are some significant differences… it isn’t a copy with a different name.
- Mobile-friendly: 1 MB scratchpad allows AEON to run efficiently on mobile devices alongside regular laptops and desktops.
- Different proof-of-work: AEON’s lightweight PoW (CryptoNote-Lite) allows for faster verification of the blockchain.
- Blockchain pruning for scalability: Pruning allows the blockchain to stay small and not outgrow devices with limited storage. This feature also improves anonymity by reducing age-based attacks.
- Fast syncing: Compared to Bitcoin variants, CryptoNote coins typically have higher verification, leading to more orphaned blocks. AEON helps this issue by using a 4-minute blocktime, reducing sync by a factor of four. Coupled with our lighter PoW, sync times on lower end devices can be improved by 10x or more.
- Optional lightweight transfers: As a CryptoNote coin, payments are still anonymous by default. But unlike Monero, AEON also allows for traceable transfers. These are a faster lower-fee option for non-sensitive payments, like transferring to/from exchanges.
Simple Getting Started Instructions
- Download AEON Wallet – Sorry no GUI at this time
- Extract to Folder
- Run aeond.exe and let it synchronize the blockchain (this will take a while)
- Run simplewallet.exe
- Pick a name for your wallet, example: codwallet
- Pick a memorable password
This will create your wallet and present to you your new wallet address as well as a view key. Take note of your mnemonic seed, it is 24 words that can be used to recover your wallet should you need to.
Stay tuned for more guides, such as: Creating a cold Wallet, joining a pool, and many more!
