Aeternity: innovating in smart contracts

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Aeternity is a very promising smart contract improvement initiative that is currently in its second funding round. Based on the development of blockchain technology in smart contracts, Aeternity advances in innovations that augurs an important place in the short term, allowing its community to grow. Let’s look at more details about the Aeternity features:

Channels of State: a discovery.

A network of state channels allows you to exchange securities with any counterpart in the world without having to entrust the money to any third party. Participants exchange between them privately. Businesses have their records out of the chain and not in public. Participants can handle use cases that require high volumes of transactions.

Decentralized Oracles.

First we must understand what an Oracle is and what it does. An oracle machine connects smart contracts with real world information. The oracles are categorically more powerful than Turing-Complete computational models. In its applications we can also understand its scope, for example, what happens if the fulfillment of a smart contract depends on weather conditions or other public information? The oracle can provide tamper-proof public data and execute it accordingly. Election results, asset prices such as gold, or weather conditions play a crucial role for many business applications. The oracles in æternity are completely decentralized.

Details of governance, mining, and other aspects.

Aeternity aims at practical decentralization. The best part is that even smartphones can mine (PoW) new tokens efficiently, achieving unprecedented decentralization. The Proof of Stake (PoS) is implemented through prediction markets in the blockchain.

On the other hand in the matter of application and fulfillment of Intelligent Contracts, these only touch the blockchain in case of disagreement between the parties, acting as an auto-arbitrated cryptort.

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Growth in the Aeternity ecosystem.

– Aeternity will launch a foundation to support open source developers, entrepreneurs and young businesses to build their æternity projects.

.- Aeternity will deliver essential open source apps with the launch of the platform. Thus the blockchain can be used from the first day.

.- Aeternity blockchain is launched by the aeternity organization, registered in the Principality of Liechtenstein.

.- æon are the access keys to the æternity Chain of Blocks and act as a unit of account for the resources spent in æternity. The æon are the energy (or “crypto-fuel”) used to power any application implemented in the platform. Every action (and even inaction) on the æternity platform costs something, even if they are only fractions of cents.

The current stage of Aeternity’s funding round expires on June 5th. Also the first testnet of æternity is currently online. You can use it to see some of its features like creating an account and start mining æon right away. Start interacting with æternity by visiting GitHub.

Innovation in action.

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