Each transaction is secured with robust cryptography and distributed through a global peer-to-peer consensus network.
By default, AEON utilizes a cryptographic system to transfer funds without the identifying information of each user becoming visible on the blockchain.
AEON uses ring signatures to make transactions untraceable, meaning it is very difficult for blockchain analysis to determine if funds have been spent.
Compared to our CryptoNote big brother, here are AEON's main advantages:
1 MB scratchpad allows AEON to run efficiently on mobile devices alongside regular laptops and desktops.
AEON's lightweight PoW (CryptoNote-Lite) allows for faster verification of the blockchain.
Pruning allows the blockchain to stay small and not outgrow devices with limited storage. This feature also improves anonymity by reducing age-based attacks.
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.
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.
Overall, AEON seeks to be a lightweight-Monero, similar to how Litecoin seeks to be a lightweight-Bitcoin. While still drawing from the technical advantages of Monero and CryptoNote, AEON has distinct development goals and an independent community that enable it to thrive as its own currency.