AO is a currency denominated in information size based on Ethereum, a decentralized information marketplace, and a Decentralized Autonomous Organization (DAO) that controls both.
Why create a currency denominated in information size?
Our vision is to someday make it possible to buy a cup of coffee with a kilobyte. We think a decentralized currency based on the value of information can reach stability with inherent value. AO is backed information’s value, like how the value of gold used to back the USD. AO represents the capability to purchase, sell, store, or transmit information on an open global network, so we think it may reach stability from its utility without a peg to off-chain assets. Information can be the new dollar.
How does AO’s decentralized information marketplace work?
Kind of like a torrent protocol, except with the capability of selling the information distributed. Information creators can add their information (videos, music, books, applications, etc.) to an open decentralized network. Creators split profits with the nodes that make their information available.
How do nodes work with AO?
A node can buy information with AO’s currency, which is split between the information’s creator and the node(s) that sent the bytes over the network. Once that information is purchased, the node can re-send the bytes over the network and participate in future purchases to earn more AO.
How is new AO created?
New AO is created on information transactions and given to the senders, receivers, and the DAO. It’s kind of like a reverse tax, where new AO is minted from economic activity to economic participants vs taken from them.
How does AO’s DAO work?
The DAO controls all the smart contracts, expenditures, and variables related to AO’s operations. It acts like project management software, a social network, and a democratic system. Information creators earn a voting currency called Pathos. Nodes earn a voting currency called Ethos. Pathos and Ethos are used to vote on what the DAO should do. When they come together, they create a third currency called Logos, which enables individuals to lead projects for the DAO. The vision is to enable anyone to work for the DAO.
What state is the project in?
The components of AO living on Ethereum are on main net, with a test net on Rinkeby. The node applications that interact with Ethereum and transact information are available for download in preview states.
How is AO financed?
AO has not done an ICO or taken centralized financing. Work so far has been done by individual contributors. It is launching fully decentralized. To finance future development, AO’s DAO is running a “Network Exchange” where it will accept Ethereum in exchange for AO+, which is a special type of the AO currency that is supply capped and provides the capability to earn more AO on information transactions through AO’s inflation mechanic. All funds received from the Network Exchange are sent directly to and held in the custodianship of the DAO.
Why is AO built on Ethereum?
We felt it was the most stable, reliable, and decentralized blockchain platform today. Additionally, Ethereum’s gas mechanic governs compute operations on a decentralized VM, while AO governs storage and transmission, so we felt the two complement each other nicely.
How do AO’s databases work?
Completely decentralized! AO’s non-Ethereum functionality is still distributed and decentralized, with its data architecture built on top of the DAT Protocol interfacing with the EVM. Any given AO node is acting as a part of a DB and storage for the overall network.
How can I get involved with AO?
The AO project is looking for all the help it can get. If you can code of have ideas, you’re welcome to participate in the DAO. Because AO has not been financed previously, contributing to the Network Exchange will help the DAO hire more help.
AO does not have a discord, telegram, or social media. Instead, the DAO provides a reddit-like interface to communicate, learn more, and add to the conversation. We’re trying to keep everything-AO decentralized. Hope to see you in there.
Where can I learn more?
The application previews and Network Exchange are available at: https://ao.network
AO’s whitepaper is available at: https://ao.network/assets/AO_Whitepaper.pdf
AO’s code is open source and available to review at: https://gitlab.paramation.com/ao
AO’s smart contracts are at: https://gitlab.paramation.com/ao/ao-contracts/tree/master/contracts
A preview of the DAO’s interface: https://ao.network/#/the-ao
An expanded FAQ is available at: https://ao.network/#/summary