The Open Application Network (OAN) is open source public infrastructure for creating and hosting Open Apps. It runs on the Unity consensus, which uses a hybrid of Proof of Work and Proof of Stake in order to add new blocks to the blockchain.
Frequently Asked Questions
Here are answers to some of the questions our community has asked us. Get in touch if there's more you would like to know.
The OAN is open source public infrastructure for creating and hosting Open Apps. Open Apps are programs that put users back in control and are universally accessible across platforms. The OAN is built on open standards and is owned by everyone who uses it. To learn more, read this <url>blog post</url> on the launch of The OAN.
Aion is the digital asset of The OAN. Aion is used to secure and access The OAN. Critical functions on The OAN are enabled and incentivized using Aion.
The OAN is maintained using Unity, a hybrid consensus model that combines Proof of Stake (PoS) and Proof of Work (PoW). Under Unity, blocks are produced roughly equally between PoS and PoW participants. To learn more, read the whitepaper on Unity.
New blocks added through PoS on The OAN are proposed by validators. To enable The OAN to run seamlessly, validators need the technical capabilities to offer a secure, always on infrastructure.
Not everyone is able to do this. Some token holders participate indirectly by delegating the tokens they have to a validator. Validators are running a service for delegators. They typically charge a fee to cover their operational costs.
By delegating AION, you help secure the network. You get part of the rewards provided by the protocol for this assistance. If you are planning to hold on to AION for some time, delegating will help you accumulate more AION while contributing to the health of the network.
We charge 7.5% from the block rewards received by our delegators. For example, if a delegator receives 100 AION as a reward, stakefish will receive 7.5 AION while the delegator will get 92.5 AION. We offer one of the lowest fees of the strong proven validators.
Undelegating (sometimes called unbonding or unstaking) can be done anytime. However, it takes approximately 24 hours for your AION to become transferable.
If you have any questions about staking or our validator services, please do not hesitate to reach out to us. We are happy to talk with anyone and help navigate community members through this exciting new ecosystem.Get in Touch