Aeternity (AE) cryptocurrency
Aeternity is a scalable blockchain platform that allows you to increase the speed of transactions, and also includes functional smart contracts and decentralized oracles. The goal of the project is to increase the scalability of smart contracts and DApps. This is achieved due to the fact that smart contracts are carried out outside the blockchain and are executed in closed government channels, and only participants in the same contracts have access to them. The concept is similar to the Lightning Network technology used to scale transactions. Likewise, Aeternity is building an add-on on top of the standard blockchain that will significantly increase throughput for processing smart contracts. The Aeternity development team, using an innovative approach to storing the complete Turing contract code in state channels, was able to facilitate analysis and reduce smart contract processing time. This technology improves scalability because all transactions become independent and can be processed simultaneously. Aeternity uses the Turing virtual machine with MAST (Merklized Abstract Syntax Trees) to process smart contracts. In Aeternity, smart contracts are represented by simple functions in the form of financial agreements that distribute funds in accordance with established rules. MAST allows you to pin on the blockchain only that part of the smart contract that is necessary to ensure its operation, which improves scalability and confidentiality. To work with the Aeternity blockchain, users need Aeternity coins (AE). In addition, financial applications based on the platform are based on the AE coin. All commissions and settlements in smart contracts are carried out in AE coins.
Overview of Aeternity (AE)
The founder of the Aeternity project is Ethereum co-developer Yanislav Malakhov, who began developing algorithms for blockchains in 2013. Marion Vogel, who previously worked in marketing and business development in Silicon Valley, is a director at Aeternity. In addition, the development team includes people who helped develop the Augur project. In 2017, a successful ICO of the Aeternity coin (AE) was held. $24 million was raised. The project was launched as an ERC-20 token to facilitate an ICO funding round, but it became a fully implemented blockchain when the network went live in mid-2018. Each step was followed by a planned hard fork of the blockchain that carried coins and introduced improvements and new features. To ensure transparency of this migration process, the developers have provided a special smart contract.
Advantages of Aeternity (AE)
- Actual development environment. Smart contracts are in demand and are becoming increasingly widespread.
- Highly qualified team. The Aeternity team already has experience and reputation in the Crypto community.
- Active integration of new ideas. Developers are constantly trying to improve their platform.
- Support for mobile devices. Only a few platforms can offer cryptocurrency mining on smartphones.
- Decentralized and secure working environment. All conditions have been created for successful transaction processing.
- Network scaling. This increases the possibilities for working with smart contracts.
Disadvantages of Aeternity (AE)< /h3> - Long period of work. During the development period, the project lost the advantages of an innovative pioneer. More than 3 years have passed since the launch of the project, competing projects are not slowing down the pace of development.
- Temporary lack of use of the ecosystem. Currently the project is not being used to its full capacity.
- Long period of work. During the development period, the project lost the advantages of an innovative pioneer. More than 3 years have passed since the launch of the project, competing projects are not slowing down the pace of development.
- Temporary lack of use of the ecosystem. Currently the project is not being used to its full capacity.
