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What is Aeternity? (AE)
If you're a crypto-enthusiast which I would assume you are because you're reading this post then you should be aware of the far-reaching global potential of blockchain technology. While the internet has been able to scale to demands (not without lucrative investment) of a global audience blockchain with its reliance on a decentralised ideology is facing some real problems.
As blockchains scale congestion on the network increases, mining support can only take you so far as securing the network is still the highest priority and proof of work coins like Bitcoin and Ethereum have suffered because of it.
BTC has already augmented their scaling with Segwit and later the lightning network should be deployed while the other frame of thinking done by forking into Bitcoin Cash with bigger block sizes continues to soldier on. Ethereum has a similar problem but with Smart contracts and
There is no real out and out solution for blockchain scaling and is why cryptocurrencies will all eventually hit a sealing until this is solved. One project looking to solve this problem before we reach this plateau is
WHAT IS Aeternity (AE)?
It accomplishes scaling by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts.
Aeternity includes several other features that set it apart from other smart contract and
Why should you pay attention to Aeternity?
State channels make it possible to execute smart contracts off-chain. Only in case of a disagreement between the contracting parties does the smart contract code get enforced by the blockchain. A network of state channels enables the exchange of value with anybody in the world in a trustless way. Participants interact privately with each other. Businesses have their records off-chain and not in public. Participants have infinite almost instant transactions. Participants can handle use cases that require very high volumes of transactions.
Aternity is governed by its stakeholders, meaning that miners, token-holders and others with a stake in the blockchain have the ability to make decisions together on proposed changes. æternity provides tools enabling participants to govern themselves effectively. It is essential to note that governance is very much a human problem that most likely cannot be "solved" purely by technical means. æternity's governance is implemented via delegated voting, weighted by the number of tokens the account hold and provides both technical tools to permit governance and frameworks for human interaction for effective discussion.
An oracle connects real-world data with smart contracts. æternity has oracles on the blockchain, as truly first-class objects. For example, if the fulfilment of a smart contract depends on weather conditions, a share price, or other public information from the real world Oracles can provide tamper-proof data which contracts can act upon. Election results, the prices of assets such as gold, weather conditions and many other real-world values play a crucial role in many business applications.
Outside the actual
WHAT IS Aeternity USED FOR?
State channels are critical to the success of this particular venture, as they are a trustless solution to exchange value with other parties throughout the world. Additionally, the project embraces decentralized oracles to connect public real-world data with smart contracts. Aeternity firmly believes oracles are far better than the Turing-complete model.
A lot of smart contracts require specific conditions to be met before they can be completed. If there is ever a dispute, an oracle can provide undeniable evidence and execute accordingly. This concept has many use cases, including voting, prices, weather conditions, etc. Since all oracles on Aeternity are decentralized, there is no central point of failure.
CAN YOU MINE Aeternity?
The short answer is yes but allow me to elaborate on this for a second. While
Miners verify new blocks in a similar way to Bitcoin and Ethereum’s current model. However,
The Cuckoo Cycle incentivizes devices with dynamic RAM. Its design means you could mine Aeternity from a mobile device which is something they will look at doing not in the traditional sense like
Proof of stake controls the governance of the Aeternity ecosystem. AE token owners can vote on development proposals and changes based on the proportion of AE they own.
Can you earn Aeternity?
Where can you buy Aeternity?
Binance CoinBene Fatbtc
- Lykke Exchange
Should you invest in
Plenty of hard work and consideration has gone into the creation of
Then and only then will we get a better idea of what this project is capable of and whether or not people are genuinely interested in this technology. While promising on paper I still feel there apprehensive about the hurdles they need to overcome before they even start competing in the market. This is a speculative investment at best and a long-term hold if you're keen on investing.
For more on Aeternity check out their website
If you want to know more about cryptocurrency don’t be shy we’re happy to assist. Simply contact us
Disclaimer: This article should not be taken as, and is not intended to provide any investment advice and is for educational purposes only. As of the time posting the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency as all investments contain risk.