Aeternity (AE) 2018-05-04T17:01:28+00:00

Aeternity (AE)

Project Description

Purpose

Aeternity is a scalable blockchain platform that enables high bandwidth transacting, purely-functional smart contracts, and decentralized oracles. Smart contracts built with the Aeternity VM are run on State Channels (off-chain) and can access real-world data through their decentralized oracles.
AE are used for transaction fees, running smart contracts similar to eth, and also for using oracles. Coins can be staked in the oracles and earn a reward of coins for correct data. The oracles also serve as a governance mechanism, so coins can be used to sort of vote for certain aspects of the blockchain such as mining rewards and fees.
 

Strengths

– Fast transactions and improved anonymity since smart contracts are executed off-chain
– The State Channels are Turing-complete
– Infinitely scalable through the use of State Channels
– Allows mobile mining with their Cuckoo Cycle Proof-of-Work

Weaknesses

– The value of the token is tied to how many smart contracts are built on the platform, but there are already many competitors that offer a platform for smart contracts
Network Status
The network is not up yet. The testnet was launched in December 2017.

Roadmap

Q1 2018: Security audit
Q2 2018: Mainnet launch

Governance

Æternity uses a hybrid Proof-of-Work and Proof-of-Stake consensus mechanism. The block-order will be determined via Proof-of-Work. Certain system variables will be determined via on-chain prediction market system, which allows the users to participate and bring in their knowledge. In addition to agreeing on new blocks for the blockchain, the consensus mechanism also agrees on both answers to oracle questions and the values of the system’s parameters.

Similarities

Aeternity is similar to other smart contract platforms like Ethereum and Qtum. It is also similar to Augur and Gnosis since it is a prediction market.

Notable partnerships

Aeternity is partnered with Erlang Solutions and SoftUni.

Aeternity Exchange

AE is traded on Gate.io, Liqui and HitBTC.

Stack

Aeternity is a blockchain layer.

Community

Reddit: 1 910 subscribers Twitter: 13.2k followers

Price history

Feb-5-2018: 2.21 USD
Dec-2017: 0.54 USD
Sept-2017: 1.22 USD
July-2017: 0.75 USD
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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations

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