Token Sale Opens on Dec. 11 for 3D Blockchain Technology Already Tested and Proven in Asia
SEOUL, KOREA / ACCESSWIRE / December 7, 2017 / Aston announced today the start of their ATC token pre-sale. Aston's innovative X-chain replaces the linear blockchain model with a multi-dimensional blockchain, paired with a biometric security solution, finally making blockchain-based document authentication viable at scale.
Technologists have long promised blockchain-based document authentication, but up to now all attempts have proven untenable. These implementations have all relied on linear blockchains like the ones that power Bitcoin and Ethereum. Authenticating or even viewing a single document requires examining every single block since the document was created. This process requires far too much computing power, time and electricity.
Aston's X-chain reduces the chain size by up to 70% and reduces the verification time exponentially.
"As we move toward decentralized networks for information storage, we also need decentralized document authentication to ensure our documents are legitimate," said X, Aston's CEO and one of the chief engineers working on the project. "Aston will help fully realize the potential of blockchain in business, government, banking and healthcare."
Aston in Action
Imagine a large hospital that creates more than a million sensitive medical documents each month, recording check-ups, discharges and prescriptions. The documents handed to patients are usually discarded without being shredded, leaving personal data vulnerable. The documents stored at the hospital may have many nearly-identical versions, which could lead to medical errors.
Aston allows hospitals to issue and confirm medical documents electronically on smartphones and tablets. Each new version of a document is immutably recorded to a secure blockchain, eliminating opportunities for documents to be stolen or manipulated. Aston's Smart-Pass-On authentication layer ensures documents are legitimate, eliminating opportunities for drug prescription forgery and insurance fraud.
Two of Korea's largest and most reputable hospitals already use this technology, as do a bank and a cryptocurrency exchange. At the end of December, Aston's Smart Biometric Authentication Solution will be integrated by one of Korea's big three telecom providers.
X-Chain uses a linear main chain, but every time a new document is created, it sprouts a sub-chain with blocks that contain only the modifications relevant to that document. This structure is fast and efficient, while retaining the immutability and cryptography that make blockchain so secure.
Paired with Aston's multi-dimensional blockchain is Smart-Pass-On, a public key based biometric authentication and electronic signature system.
The platform can be integrated with existing ERP, groupware, or cloud systems to deliver and authenticate their documents. It is also forward compatible with the distributed networks that will likely replace current system by 2025.
The Aston (ATC) token pre-sale begins today and will run through December 10. There will be a 30% bonus for pre-sale participants. The crowd sale runs from December 11 through 17 and will include a 15% bonus. The token sale will be used to allocate 50% of the total 286,000 ETH target (approx. $105 million). The starting token price will be pegged at 1500 ATC per Ether, and Ethereum is the only currency that will be accepted during the token sale. Note that some countries restrict their citizens or residents from participating in token pre-sales or crowd sales.
Participants in both the pre-sale and the token sale will immediately receive ERC20 tokens, guaranteeing their right to ATC tokens once they are available.
More information about Aston and ATC token, including detailed white papers explaining the underlying technologies and the potential uses, is available at https://www.aston.company/.
Aston is headquartered in Singapore and operates primarily out of Korea. Its parent company, Certon, is a global technology security company and is publicly traded on the KOSDAQ exchange. Aston combines a multidimensional blockchain platform and a biometric authentication solution to make blockchain-based document authentication feasible. Aston has partnered with big companies like Samsung SDS and LGU+ to develop the technologies that are starting to being used in hospitals, banks and telecoms in Korea.