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Areon: Decentralized Blockchain Technology with Benefits

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Areon: Decentralized Blockchain Technology with Benefits
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Aeron is the first blockchain to use the Proof-of-Area protocol. This technology has emerged as another alternative to the Poor-of-Work protocol which is utilized by Bitcoin. This protocol considers digital asset ownership rather than a system based on computational power. It is focused on eliminating high energy consumption.

It is a decentralized layer 1 blockchain network where anyone can develop dApps and perform daily transactions instantly by providing low fees. The proof of area technology makes the chain extremely fast for transactions. It can clock 600,000 transactions per second without issues and complete a transaction in sound 100 milliseconds.

What is Proof-of-Area?

The unique verification algorithm of Areon is called Proof-of-Area. It is future-proof, fast, and secure. It assembles some elements of proof-of-stake and proof-of-work. The proof-of-work transaction security is increased by Proof of Area and also reduces the transaction cost of Proof of Stake.

The transaction verification in proof-of-area depends on the idea that anyone who holds AreaLands inside the metaverse is randomly eligible for transaction verification. This unique loyalty program confirms the transactions and provides block rewards to landowners.

The proof-of-area also encourages the investors to hold the tokens for a long time since the metaverse land (Areon land) is limited in numbers. When the value of the token appreciates, the land owner can sell or rent them later on. The owner can build a digital store or any software on the land.

How to Stake on Areon Network

To stake, users must have a minimum amount of AREA in the wallet. To start the process a desired staking period must be selected. AREA staking involves the locking up of tokens for a set period. The users can claim the rewards anytime after completion of the time. The longer the duration of locking, the more will be the rewards.

The Areon token will not take fees from staking rewards. The earnings may fluctuate from day to day depending on the prevailing market conditions and the product selected. Staking AREA tokens allows you to earn passive income in the form of rewards.

The longer the tokens are held, the more will be the award. To participate in the staking programs, users must have AREA tokens which are available on a supported exchange or by participating in the Areon Network system.

Metaverse- Areon City

The network’s city is the metaverse where anyone can buy, sell, and lease lands to different users across the network. There are limited land offers in the metaverse. Only 50K lands are available in Areon city. The land prices will appreciate with time.

Tokenomics

30% of the tokens are used for ecosystem development, which shows a sharp focus on the long-term growth of the project. New products will be increased by the decision.

20% of the tokens were aimed at community engagement and rewards. 10% for the supporters and investors that will be decided by the Areon team. 10% is for the Areon team and 10% for public sale. 10% to the listings and liquidity, and the remaining 10% for company reserve.

The huge 30% investment in ecosystem development shows the dedication of the company to move ahead as it is investing in the future. This will increase new dAPPs, new integrations, and new partnerships.

Community-centric approach shows 20% of the investment for community engagement and rewards. This includes the rewards, engagements, and governance activities. The streamlined reduction in the 10% of company reserve shows that the company is confident about its financial stability and the project’s future.

The market cap of AREA is $11 Million. Its volume is $625, 629.46. The self-reported circulating supply is 69.84 Million AREA. The token has a maximum supply of 500 Million AREA. It has a fully diluted market cap of $79.03 Million.

Benefits of the Areon Network

As the crypto industry grows, the need for a more scalable blockchain ecosystem is undeniable. This is the most undeniable layer-1 blockchain project that aims to solve the scalability challenges. Some of the benefits associated with the network are discussed below

Faster transactions with AreonChain: The layer-1 blockchain of the Areon ecosystem has a different architecture built on proof of area mechanisms. This facilitates higher transactional speeds. Thus, it increases the scalability, giving improved performances.

Area Land: AreonChain integrates with Area Lands which creates a seamless connection between the virtual world and the blockchain. This provides the user with a unique experience.

Areon Wallet: It provides the user with a wallet where he can store and manage the Areon tokens and digital assets. It provides a convenient interface to send and receive transactions. One can take part in stanking and governance of the ecosystem.

Areon Token: It is the native token of the platform which plays a role in staking, governing, and participation. Token holders can take part in making decisions on the platform.

Areon NFTs: The user can earn passive income by making NFTs on the platform.

AreonScan and Areon Education: Both of them provide educational material to confirm crypto success.

Rewards to the token holders: The token holders are rewarded for their commitment to secure the blockchain.

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