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November 16 2017

ICO Alert Report: Aphelion

ICO Alert Report: Aphelion

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ICO Alert Quick Facts

  • DApp protocol built on the NEO Blockchain
  • $.02 = 1 APH; Day 1=50% bonus ; Week 1=25% bonus
  • ICO runs November 15, 2017 — December 7, 2017
  • 220,000,000 APH total available; 440,000,000 APH total supply
  • Pre-ICO sold out early

What is Aphelion?

Aphelion is a decentralized Dapp protocol built on the NEO blockchain solving the problems plaguing the crypto exchanges by allowing trades to happen peer-to-peer directly on the blockchain. Our Distributed Exchange Asset Ledger, or DEAL, is the token mechanism powering the exchange.
Our mission is to build collaborative, open source blockchain technology that truly decentralizes asset distribution.
— The Aphelion Team

Q&A

ICO Alert: How does the Aphelion token (APH) function within the platform and why is it needed?

Aphelion: APH tokens are the escrow utility device powering peer-to-peer trades. The token keeps the terms in escrow until the DEAL is completed and verified. APH tokens are what make the trades possible.

ICO Alert: Most current and upcoming ICO projects build onto the Ethereum blockchain. Why did you choose the NEO platform?

Aphelion: We chose NEO because it’s open to some of the most utilized programming languages like Java and .NET and Python. It also supports 10,000 transactions a second, compared to three on Bitcoin or 20 on Ethereum. That’s the type of transaction power you need for an exchange.

ICO Alert: While a revolutionary concept, decentralized exchanges still have many inefficiencies. What are some of the major issues you see facing decentralized exchanges as a whole? How is Aphelion solving these issues?

Aphelion: Most of the other so-called decentralized exchanges are not dpps residing directly on the blockchain like Aphelion, which makes them susceptible to some of the same challenges of the centralized exchanges. Aphelion will finally bring blockchain to its full potential and allow users to trade on their terms directly between themselves. Our APH token facilitates the transaction, not an exchange, decentralized or otherwise.

ICO Alert: In your whitepaper, you claim that Aphelion “advances distributed ledger technology.” Can you explain this in detail?

Aphelion: While Distributed Ledger Technology (DLT) allows information to be stored across regions with no central administrator, Aphelion takes that a step further and allows users to trade data directly on the blockchain without the use of an exchange.

ICO Alert: Can you take us through a specific user experience when buying/selling on Aphelion?

Aphelion: Let’s consider two peers who wish to exchange digital assets that exist on separate blockchains. Peer A, we’ll call Alex, is willing to trade some of his assets on Blockchain A (B.A) for some minimum amount of assets on Blockchain B (B.B). Peer B, we’ll call Bob, is willing to trade some of his assets on B.B for some minimum amount of B.A. Both peers already have addresses on both blockchains and either side can initiate the exchange contract. This distributed cross-chain transaction is executed in multiple phases but is treated as a single unit of work. In the end, the exchange succeeds on both sides or everything reverts back to its original state.
1. Here it will be Alex who initiates the cross-chain digital asset exchange using an Aphelion token. This creates a contract transaction containing the contract, secret code (often just called the secret), and a hash of that secret code. This also locks down Alex’s necessary assets on B.A and provides the address on B.B to where he wishes to receive assets.
2. Next, Bob takes a look at the contract (called auditing) and, liking the terms, decides to participate. He agrees by making another contract transaction, which uses the secret hash from Alex’s contract transaction. This also locks down Bob’s required assets on B.B. and provides the address on B.A to where Alex will send assets to Bob.
3. Alex has a look (audit) at what Bob has sent and decides to close the DEAL. Alex collects Bob’s payment by creating a redeeming transaction. This automatically releases Alex’s secret to Bob and triggers a second redeeming transaction (4.) that allows Bob to receive Alex’s payment. The dual redeeming transactions are similar to a traditional relational database two-phase commit where if any part of the meta transaction fails, the individual transactions fail and rollback.

ICO Alert: In order to have an effective marketplace, many users and developers will have to adopt the platform. How are you attracting both of these groups?

Aphelion: One of the core reasons that we selected NEO is that about 90% of the dev community develops on the languages supported by NEO. We are also rolling out a community dev program similar to how NEO works itself and will continue to foster community development. Aphelion will be independent of any organization or entity, but rather will be a community supported and developed by a decentralized network of supporters and contributors.

ICO Alert: Decentralized exchanges are becoming more and more common. What sets Aphelion apart from other peer-to-peer exchanges?

Aphelion: Several projects make the claim of being a P2P Decentralized Exchange (DEX). However, there are very few built as dApps completely within a blockchain. Some are centralized client to server operations that rely on an organization’s hardware and proprietary software and others are simply a protocol that require integration into existing centralized exchanges to function properly. Aphelion aims to be one of the pioneers of DEX residing completely within the blockchain as dApp, requiring only an open source user interface to access data and control smart contracts to trade digital assets.

ICO Alert: As a non-Aphelion question, we like to ask for unique predictions for the ICO and crypto currency space in the future. Where do you see both in the next 3–5 years?

Aphelion: Exploding and revolutionizing our planet in ways we can hardly predict. I believe it will go far beyond our wildest expectations.

ICO Information
The ICO for Aphelion tokens (APH) began on November 15, 2017 and will end on December 7, 2017. Accepted currencies include BTC, ETH, NEO. A hard cap of $34,000,000 is set for this period.

$0.20 = 1 APH

Visit the Aphelion website for more information and for the contribution address.

Token Distribution Information
There will be a maximum supply of 440,000,000 APH tokens created, with 220,000,000 (45%) available during ICO period.

APH tokens will be distributed to the contributors wallet immediately after transaction. The whitepaper is available for additional details regarding distribution.

Maximum supply: 440,000,000 APH
Supply available during pre/main ICO: 220,000,000 APH

45%: ICO
30%: Organization
15%: Advisors
5%: Incentive program
5%: Pre-ICO contributors

Use of ICO Proceeds
65%: Blockchain and Dapp development
10%: Marketing
15%: Operations
10%: R&D

Team
Michael Jaltuch, Founder
Linkedin
Michael is a founding member at Aphelion. He also founded Linear Method, where he has leveraged over 20 years of experience in the software industry identifying, scoping, managing, and implementing custom software application development for a broad range of clients and complexities.

Ian Holtz, Founder
Linkedin
Ian is a founding member at Aphelion. He brings a unique mix of agency, large organization, entrepreneurial success, and high tech across industries. He is currently leading video and blockchain tech companies and also founded Orion Technologies.

Joe Debuzna, Software Architect/VP of Engineering
Linkedin
Joe is currently the software architect and VP of engineering at Aphelion. He is also the VP of engineering for HVR Software.

Andrew Morrell, Lead Software Engineer
Linkedin
Andrew is currently the lead software engineer at Aphelion. He is also a senior Android developer at Charles Schwab. He received his MS in electrical engineering from the University of Colorado at Boulder.

Social Media
Twitter
Facebook
Linkedin
Telegram
GitHub
Reddit

Additional Articles from Aphelion:

Youtube Video WILL THIS CRYPTO END CHINA FUD FOREVER?
Youtube Video Aphelion ICO and why I’ve Backed it!
Youtube Video Aphelion ICO Review. First Serious Project Based on NEO Blockchain!
Youtube Video Aphelion ICO in Progress — How to save your tokens
Youtube Video Aphelion ICO Review — Decentralized P2P Exchange Solution
Youtube Video MOD GOES UP 40% — APHELION DEVELOPEMENTS — ELECTRONEUM SCAM?
Youtube Video Aphelion / APH ICO Review — Decentralized Exchange on Neo
Youtube Video Metaverse ETP Strong Buy & Aphelion Makes Forbes
Youtube Video NEO Blockchain Being Used for Aphelion ICO
Youtube Video New $NEO ICO #Aphelion $APH Proving the NEO platform is alive and well!

View the Aphelion Website here.

View the only comprehensive list of active and upcoming ICOs here.

References
(1) Aphelion Website, Aphelion, (2017)
https://aphelion.org/

(2) Aphelion Whitepaper, Aphelion, (2017)
https://aphelion.org/wp.html

Topics: Blockchain, ICO, Finance, Protocol, Cryptocurrency