Aura Network is a blockchain platform focused on driving mass adoption of Web3 and blockchain technology in emerging markets. In this in-depth review, we will take a look at Aura Network's key features, tokenomics, investment potential and how to buy AURA tokens.
Introduction
Founded in 2021, Aura Network aims to build "the Internet of NFTs" by providing foundational blockchain infrastructure and developer tools optimized for emerging countries.
Aura Network is designed as a layer-1 blockchain built using Secure Proof of Stake (SPoS) consensus for high throughput, low fees and eco-friendliness. It utilizes Cosmos SDK modules to ensure easy integration of decentralized applications (DApps) and cross-chain capabilities.
With its focus on emerging markets, Aura Network wants to empower communities and individuals in developing nations by unlocking the potential of Web3 technologies and decentralized finance (DeFi). It seeks to drive blockchain adoption globally through optimized user experiences and practical NFT use cases.
In this review, we will deep dive into Aura Network's features, tokenomics model, progress to-date, investment analysis and steps to participate in the expanding Aura ecosystem.
Key Features of Aura Network
- Modular Architecture - Built using Cosmos SDK, Aura Network has a modular architecture that allows for easy upgradeability and integration of new features over time.
- High Throughput - Aura Network is designed to process thousands of transactions per second using its in-house consensus layer.
- Low Fees - Transactions on Aura incur negligible fees, allowing for frictionless user experiences especially important for emerging markets.
- Eco-Friendly Consensus - The Secure Proof of Stake (SPoS) consensus mechanism is highly efficient and requires minimal energy usage compared to other protocols.
- Cross-Chain Capabilities - Interoperability with other chains is enabled through standards like IBC, allowing assets, data and value to flow across blockchains.
- Developer Tools - Aura Network provides tools like Aura Playground for smart contract development and AuraScan for transaction exploration.
- Focus on NFTs - As a foundational platform, Aura aims to drive blockchain adoption through practical NFT use cases for digital ownership and content monetization.
- Emerging Market Optimized - The platform is designed from the ground up to overcome connectivity and UX challenges prevalent in developing economies.
In summary, Aura Network provides the infrastructure and tools required to unlock the full potential of Web3 through an eco-friendly, high-performance blockchain optimized for emerging markets and NFT use cases. Its modular architecture also allows the network to rapidly evolve over time through community governance.
Aura Token (AURA)
Aura Network's native token AURA plays an important role in securing the network and enabling on-chain governance.
Tokenomics
- Total Supply: 1 billion AURA
- Circulating Supply: Approximately 600 million AURA
- Consensus: Secure Proof of Stake (SPoS)
Token allocation:
- 35% - Token sales
- 20% - Reserves
- 15% - Network security
- 15% - Community development
- 10% - Team
- 5% - Advisors
Use cases
- Staking for rewards and securing the network
- Paying transaction fees
- Participating in on-chain governance
- Enabling liquidity for Aura ecosystem DApps
With a fixed supply, increasing staking and growing utility over time, AURA is designed to increase in value as adoption of the Aura Network rises globally. The token allocation model also ensures adequate incentives remain in place for long term network security and expansion.
Progress and Milestones
Aura Network launched its mainnet "Serenity" in June 2022 after successful testnets, demonstrating the platform's technical capabilities. Some key achievements since include:
- Listing on major centralized exchanges like Gate.io, MEXC Global and Bittrex Global
- Successful $2.5 million seed funding round from prominent blockchain investment firms
- Surpassing 200,000 downloads of Aura wallet
- Integration with Arbitrum Optimism and Polygon networks
- Beta launch of AuraScan block explorer
- Hosting of NFT focused hackathons and grants programs
- Ongoing development of foundational services like Aura Playground
The project continues to expand through strategic partnerships, community engagement initiatives and growing adoption among creators in emerging markets across Asia, Middle East, Africa and South America.
Investment Analysis of AURA Token
As one of the first layer-1 platforms focused on emerging markets, Aura Network provides a unique investment thesis:
- First mover advantage in a largely untapped market sector with billions of potential users
- Partnerships with establishedChains like Celer Network opens up large user bases
- Proven team with successful exits and track record of execution
- Growing number of DApps, NFT projects and communities adopting Aura
- Increasing staking rewards locking up supply and raising scarcity
- Potential long term returns as an infrastructure provider to the crypto economy
However, risks remain given the early stage nature including technical hurdles, regulatory uncertainty and competition from rival projects. Investments should only be made as part of a diversified portfolio.
Overall, AURA appears fundamentally undervalued currently considering the vision, industry expert team and fast pace of development and adoption. Long term holding could yield substantial returns should Aura emerge as a leading blockchain for emerging markets globally.
How to Participate in Aura Network
There are several ways to get involved with and benefit from Aura Network's expanding ecosystem:
Buy AURA tokens
AURA can be purchased on centralized exchanges like Gate.io, MEXC Global and Bittrex Global as well as DEXes like HaloSwap. Details on the buying process [are covered here].
Use Aura wallet
The non-custodial Aura wallet allows users to securely store, send and receive AURA and other Cosmos-based tokens. It also enables staking of AURA for rewards. The wallet is available for mobile and desktop.
Stake AURA tokens
By staking AURA tokens through a wallet or staking pool, users provide network security and earn farming rewards for securing the blockchain. Annual staking yields currently range between 5-15%.
Build on Aura Network
Developers can build DApps, smart contracts and NFT projects using programming languages supported by Cosmos SDK as well as tools offered by Aura like the Aura Playground IDE.
Participate in Governance
Token holders can vote on network proposals that guide the future of Aura Network through a decentralized autonomous organization(DAO) model.
Engage in Aura Community
Follow news and announcements, take part in discussions, access educational resources or join one of Aura's regional communities focused on specific markets and languages.
Conclusion
Aura Network presents a compelling opportunity for developers, investors and users looking to participate in the growth of blockchain adoption especially across emerging markets globally. With a strong team executing against an ambitious long term vision, Aura aims to drive real mainstream usage of Web3 through optimized experiences, proven tech and strategic partnerships.
While risks remain given the early stage, the project has shown rapid progress to date and continues to execute its roadmap quarterly. Long term upside could be substantial should Aura succeed in its mission of powering the Internet of NFTs. For those who believe in the future of blockchain, Aura Network deserves attention.
FAQs
Is Aura Network decentralized?
Yes, like other blockchain platforms Aura Network uses a decentralized consensus protocol (Secure Proof of Stake) to securely record transactions without centralized control. Over time as the network expands, decentralization deepens further.
What programming languages can be used to build on Aura?
Being built on Cosmos SDK, Aura Network supports development using many mainstream languages like Golang, Rust, Java, C++ and JavaScript through integration of EVM and WASM. This lowers barriers for developers.
How do I store AURA tokens securely?
The recommended method is to use the non-custodial Aura wallet available for mobile and desktop. For larger holdings, hardware wallets that support Cosmos-based assets like the Ledger Nano can provide additional security. Exchanges should only be used for trading, not long term storage.
Who are the competitors of Aura Network?
While no other network has the same focus on emerging markets, some general competitors in the layer-1 blockchain space include projects like Elrond, Polygon, Solana, Near Protocol and Cardano which aim to provide scalable platforms for decentralized applications and communities.
How can I earn passive income with AURA?
By staking AURA tokens either through the Aura wallet, a staking pool or service, users provide security to the blockchain while earning annual staking rewards
