Blockchain is a technology that we expect will make a user-centric internet ecosystem. It holds the potential to transform today’s centralised digital landscape to aid individuals more than companies. Even then, not all blockchains are designed to utilise that potential or they face various challenges that prevent them from doing so.
Aladin Network was developed to overcome those challenges and create a better, more favourable internet for everyone. Not only will Aladin make the blockchain ecosystem more accessible but also transform the digital economy as we know it. It will achieve the latter through its native digital currency ALA coin, which the network will issue to its developers, users, and BlockProducers.
The price of the ALA coin at any given time will depend on how widely adopted the Aladin Network is. It will depend on the number of developers creating and deploying applications on the network and the number of users using those applications and other features on the blockchain.
Here’s how the carefully designed features of the Aladin Network will support the rise in the price of ALA coin.
Unlike other blockchains, Aladin network has its own integrated blockchain oracle that connects it with the real-world and helps developers’ DApps and smart contracts easily read data from anywhere. The network also has its exclusive decentralised storage system, DNS, and SDK toolkits to help create innovative solutions. These promising features will attract huge pools of developers to create on the network, who will have to stake ALA coins to utilise the Aladin resources. With more people staking ALA coins, the coin’s price will automatically appreciate.
Ease of DApp monetisation
It is discouraging for developers to create applications on a blockchain network when they later struggle to monetise it. This drastically reduces the chances of developers choosing to create blockchain apps, which affects blockchain adoption. The Aladin Network inspires more people to create on the blockchain by subsidising all blockchain applications through block rewards.
Zero transaction fee
Blockchain networks mostly charge a transaction fee for validating transactions and storing the record on the ledger. On the contrary, Aladin Network transactions are completely free of cost for all its users as long as they transact using ALA coin. Users will have to attach a small sum of ALA coins in case they transact in other cryptocurrencies. In both cases, the network ensures that all its users own some amount of ALA coins. As more people own ALA, the price of the coin will consistently increase.
Voter earns Block Reward
Governance on the Aladin Network is solely controlled by network participants instead of a countable few nodes or miners. To become a voter, users will first stake ALA coins and automate the voting process using an electron app. They then receive scheduled block rewards into their ALA wallet. These rewards will attract both the crypto community and the non-tech savvy community to participate in the network and pump the ALA price to new highs.
The properties of the Aladin together ensure wider adoption of the network, hence promising considerable appreciation in the price of ALA coins over time.