- Aragon CTO Jorge Izquierdo says the dev team is looking to use Polkadot to create a smart contracts framework called AragonOS
- CEO Luis Cuende has reportedly hinted that transactions made via the AragonOS will be free and highly optimized
- AragonOS will make it easier for users to run decentralized organizations in a cost-efficient way
Aragon, an Ethereum distributed ledger technology (DLT) project that claims to make it easier for users to build and manage decentralized organizations, has announced plans to build a second network on the Polkadot framework, according to a Finance Magnates report on February 2, 2019.
Aragon Interested in Developing a Polkadot-Based Network
Per sources close to the development, Aragon, a blockchain project powered by the Ethereum smart contracts network and focused on making it easier for people to develop highly functional decentralized autonomous organizations has revealed it’s planning to build its aragonOS network on Polkadot.
For the uninitiated, Polkadot is blockchain interoperability protocol crafted to facilitate interoperability and scalability between numerous distributed ledgers.
Reportedly, the chief technical officer (CTO) of Aragon, Jorge Izquierdo revealed the startup’s plans at the Aracon conference, though he also made it clear that nothing has been finalized yet, as the developers are still trying to come up with the best idea for the Polkadot-based smart contracts framework.
Transaction on AragonOS will Attract Minimal Fees
Just like the Bitcoin blockchain network, Ethereum has been plagued with scalability and speed challenges in recent times, and the problem is making some devs looking to create highly optimised decentralised applications to turn to other blockchains like EOS.
According to reports, while Aragon is not planning to dump the Ethereum network entirely, the team firmly believes that with Polkadot, transactions made via the aragonOS will be nearly cost-free and highly optimised at the same time.
“The primary aim of choosing the Polkadot framework is to make most transactions on the aragonOS network almost free and very optimised, to enable users to seamlessly build and run decentralised organizations more cost-efficiently, in a super fast manner,” declared Luis Cuende, CEO of Aragon.
Although the creators of the Polkadot framework, Parity Technologies and Web3 Foundation claim that the platform is not trying to compete with Ethereum, some observers strongly believe that Polkadot may be another threat to Vitalik Buterin‘s Ethereum in the long run.
Commenting on the latest development, Lane Rettig an Ethereum developer has reportedly said that Aragon’s interest in Polkadot is a huge warning sign to Ethereum and devs need to act quickly before things get out of hand.