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Bitvavo makes AIOZ Network as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
AIOZ Network is a decentralized platform for storing and streaming digital content like videos, audio, and text. This project operates on the Cosmos blockchain and is compatible with Ethereum, allowing for the transfer of data via decentralized applications (dApps) easily and inexpensively. AIOZ Network utilizes peer-to-peer (P2P) networks and its own decentralized Content Delivery Network (dCDN) to store and distribute digital media through nodes.
Instead of using central servers like traditional content delivery networks, AIOZ Network relies on globally distributed P2P nodes. This allows files to be stored and delivered from the nearest node, significantly improving the speed of content delivery while reducing costs. As a result, the platform is particularly suitable for applications such as livestreams, videos, augmented reality (AR), and virtual reality (VR).
The decentralized design of AIOZ allows content creators direct interaction with their audience, bypassing major corporations. This gives creators more control over their work and creates new opportunities for audience engagement. Users participating in the network by running nodes or sharing storage are rewarded with the AIOZ token, providing additional incentives for network participation.
AIOZ stands thanks to its use of WebAssembly (WASM) smart contracts, allowing developers to program in multiple languages like C++, Typescript, and Rust, instead of just Solidity. This enhances dApp development flexibility and speed. Additionally, AIOZ's multi-chain structure ensures seamless interoperability between various blockchain networks, contributing to the scalability and growth of the project.
AIOZ Network was founded in 2021 by Erman Tjiputra, a blockchain developer from Singapore and CEO of the project. His extensive experience in blockchain technology was crucial in creating this decentralized media sharing platform. The core team also includes Hien Nguyen, head of blockchain, Trieu Nguyen, Chief Technology Officer (CTO), and Quang Tran, leader of the AI team.
AIOZ Network offers a range of features and applications for both end users and developers, improving the way digital media is stored, distributed, and processed:
AIOZ Network utilizes a distributed infrastructure for content delivery through a network of nodes, powered by two key technologies: the blockchain layer and decentralized content delivery system.
The beating heart of AIOZ Network is the decentralized Content Delivery Network (dCDN). This system operates through P2P nodes connected to the network. Users can run a desktop application to share their unused storage capacity, network bandwidth, and computing power with the network. When a user requests content, it is delivered from the nearest node, ensuring faster delivery compared to centralized servers.
AIOZ's dCDN utilizes three types of nodes:
AIOZ Network utilizes its own blockchain to ensure network security, transparency, and governance. Built on the Cosmos architecture and supporting Ethereum Virtual Machine (EVM), AIOZ seamlessly integrates with other blockchain networks. The network operates on the Proof-of-Delivery (PoD) consensus mechanism, rewarding nodes for successfully delivering content to end users.
In addition to the PoD mechanism, the network also offers AIOZ token staking. This enhances network security and allows users to generate passive income by locking up their tokens.
The AIOZ Network stands out with its multi-chain structure, allowing collaboration with multiple blockchains. With compatibility to both Cosmos and Ethereum, data and digital assets can easily transfer between different ecosystems. This promotes the development of interoperable dApps that can integrate with multiple blockchain platforms, accelerating scalability and growth of the AIOZ ecosystem.
The AIOZ token plays a crucial role in the AIOZ ecosystem with multiple functions. It is used to pay for storage and streaming services and as a reward mechanism for users sharing their computing power, storage space, and bandwidth through the platform's nodes. This allows users to earn passive income in the form of AIOZ tokens.
Additionally, users can stake tokens to enhance network security and receive rewards. The total supply of AIOZ tokens is 1 billion, with the majority already in circulation.
Staking AIOZ tokens is a simple process where users can contribute to network security and earn passive income. By staking tokens, users help protect the blockchain from attacks and network issues, while receiving rewards in the form of additional AIOZ tokens from transaction fees paid by users.
Staking can be done through various wallets supporting AIOZ or directly through the AIOZ platform. The flexible process allows users to choose the amount of tokens to stake based on their preferences and goals, making staking accessible to both beginners and experienced crypto traders.
AIOZ Network distinguishes itself with innovative features that make the project unique in the world of decentralized technology and blockchain:
At Bitvavo, you can easily purchase AIOZ Network (AIOZ). Our platform is available to both new and experienced users. Looking to buy AIOZ tokens? Follow these steps on the Bitvavo website or app:
The price of AIOZ is linked to the current market price. Once your purchase is confirmed, tokens will be immediately added to your Bitvavo account for easy management and trading. This allows you to quickly respond to market changes and efficiently manage your wallet.
Need to securely store your AIOZ Network tokens? Easily do so through your Bitvavo account, which offers comprehensive security measures. Most customer funds are securely stored in offline cold storage. For added protection, you can activate two-factor authentication (2FA) meaning you'll be asked for an additional security code when logging in.
If you choose to store your AIOZ tokens in an external wallet, most software and hardware wallets support AIOZ. Always check the wallet address through your Bitvavo account before sending the tokens to an external wallet. This way, you can easily and securely manage your AIOZ wherever you choose to store them.
* This is for informational purposes only and is not advice, nor should it be relied upon as such.
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