Cons and Pros of Aurora Cryptocurrency
In making the correct choice about crypto investments, one simply cannot do without a thorough understanding of the pros and cons of the coins in their mind.
If it is the Aurora cryptocurrency that is on your mind, then look no further than this comprehensive list of its pros and cons.
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What is the Aurora Cryptocurrency?
The Aurora cryptocurrency, or AOA, as its ticker symbol is, is the native coin for the Aurora platform, that seeks to develop a cohesive ecosystem for the proper execution of blockchain smart contracts.
It was posited as an alternative to existing platforms that allow hosting smart contracts and designed to speed up the smart contract execution process by a significant margin.
The AOA coin is meant to facilitate transactions within this network. Now, let’s have a quick look at the pros and cons of the coin.
Pros of Aurora Cryptocurrency
The Aurora cryptocurrency offers some major benefits that makes it quite the promising dark horse in a world where smart contracts are becoming increasingly relevant.
The pros of AOA are as follows:
1. An Efficient Consensus Protocol
Aurora makes use of the Delegated Proof-of-Stake Algorithm, one of the many consensus protocols used in blockchain.
It is one of the most democratic and least centralised consensus algorithms to us, and hence rather efficient as well.
It is used in combination with another consensus algorithm: the Byzantine Fault Tolerance Protocol which makes it an even more efficient option.
2. Speedy Transactions
Given that the consensus protocols driving the core of its blockchain technology is so efficient, AOA transactions tend to work incredibly fast, getting processed within seconds.
3. Improved Execution of Smart Contracts
As smart contracts become more and more relevant in the present day and age, the need to make them faster, more efficient and more comprehensive is being increasingly felt.
In such a situation, having a cryptocurrency like AOA which exists to facilitate that very aspect is pretty much a godsend in the world of crypto. It is also capable of implementing dApps or Decentralized Applications which is definitely an added bonus.
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Cons of Aurora Cryptocurrency
While the pros are exciting, you might want to take them with a pinch of salt as AOA comes with a few cons as well. Let’s have a look:
1. Low Adoption
Till now, Aurora has not seen any substantially high rate of adoption. Although this relatively new platform and cryptocurrency is indeed growing at a steady pace, it is yet to reach a position where it can be said to have been established.
2. Lack of Popularity
The lack of popularity is closely interlinked with the low adoption. Considering it’s still a very new offering in the crypto market, it is no wonder that it has not climbed up the popularity charts yet. In the months it has been around, it hasn’t created much of a stir in the market, which has left its immense potential grossly under-utilized.
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