Aeternity is a scalable blockchain platform that enables high bandwidth transacting, purely-functional smart contracts, and decentralized oracles.
The use of the blockchain is not free, and requires that the user spends a token called Aeon. Aeon's are used as payment for any resources one consumes on the platform, as well as the basis for financial applications implemented on the platform. All system fees get paid with aeon, all smart contracts settle in aeon.
|Mkt.Cap||$ 50.65 M||Volume 24H||8.9 M AE|
|Market share||0%||Total Supply||227.21 M AE|
|Proof type||PoW/PoS||Open||$ 0.15|
|Low||$ 0.13||High||$ 0.16|
Aeternity Mainnet Launch
At present, there are two solutions for shifting the transaction volume from the rootchain and thus relieving the latter. State channels are not inventions of Aeternity, but are based on the Lightning Whitepaper by Joseph Poon and Thaddeus Dryja, published on 14 January 2016. But not only Bitcoin developed State Channels (with the Lightning Network), but also Ethereum can show a development with the Raiden Network. Aeternity aims to solve the problems of scalability, data protection and transaction speed, especially with regard to Smart Contracts. Michal is a hands on engineer with a successful track record working on the hottest projects of the last few years.
He co-founded the Bulgarian Bitcoin Association and the first website for bitcoin exchange in the country. Fascinated by technology, Bitcoin, blockchains and the future, Vlad is also a member of MENSA. Initially as a programmer, then as the technical director of BeatThatQuote.com, until its sale to Google.
The reference implementation is written in Erlang, following all standards of high-quality software engineering. Recurring security audits and intensive property-based testing are part of the protocol developers' daily work. The æternity protocol is capable of supporting anything that first-generation Smart Contract platforms can.
The æternity protocol interacts with a type-safe VM called the Fast æternity Transaction Engine (FATE), engineered to boost efficiency (gas consumption) and security (type-safe). Together with Sophia, a functional smart contract language that supports formal verification, the æternity protocol provides a unique take on blockchain and smart contract security.
To date he has co-founded 4 startups, lead his own digital agency for 5 years in NYC, and held roles as Director of Technology, Product Lead, and CTO. Having worked on projects in San Francisco, New York, Los Angeles, and Berlin, Stoyan is lured by the disruptive potential of blockchain technology and its implications for globalization. As a multi-national Business Development Executive with experience working in Germany, Eastern Europe, MENA, Asia and Pacific, Nikola is the go-to person for strategy and business development. For almost a decade he has developed and consulted numerous international projects and has recently been introduced to the unlimited possibilities of blockchain technologies. Aeternity has a unique distributed consensus model, combining both Proof-of-Work (PoW) and Proof-of-Stake (PoS).
It can power Games, Payments, Identity, Decentralized Finance, Registries, Token-Economies, Supply Chains and more.
With on-chain speeds reaching 120tx/s, æternity is about 8 times faster than Ethereum and about 15 times faster than Bitcoin. Block confirmation times are as low as 3 seconds, which significantly improves the user experience. Aeon is currently (as of November 2018) still an Ethereum-based ERC20 token. With the launch of the Mainnet, however, a migration to the Aeon-Coin will take place.
Aeternity coin is envisioned to be an open-source, distributed computing platform that builds upon public blockchain technology. æternity’s primary goals are to deliver unmatched efficiency, transparent governance, and global scalability. Its decentralized consensus mechanism is being developed considering cost-efficiency. Aeternity (AE) is an open source and Turing-complete blockchain that enables real-world data to be interfaced with smart contracts using decentralized oracles. Emil is the founder of the design and development studio Ape Unit and has been realizing app and web-app projects for companies such as Sony, Telefonica, VW and Montblanc for several years.
Aeternity (AE) is a new type of blockchain which aims to solve many of the problems which have dogged conventional blockchains for years. One key feature is called State Channels, which enable smart contracts to be executed off-chain. Phillipp is a long time blockchain enthusiast and software developer.
The virtual machine accommodates compiled Solidity smart contracts, so Ethereum-centric developers can easily start building decentralized applications for æternity. The outstanding scalability of aeternity coin is achieved with state channels technology. It allows for transactions and smart contracts to be executed off-chain and thus not overloading the network. It is not necessary for a smart contract to exist on-chain for it to be enforceable and secure. At the same time, millions of transactions can be processed much more efficiently, since they are executed off the blockchain.
He has been responsible for the architecture, scalability, and performance in systems behind RTB markets, Mobile Chat apps, and IoT systems that currently serve hundreds of millions of customers. He will support our effort to use Erlang technology in order to deliver a state of the art blockchain. Ulf is an expert programmer and the brain behind the Agda programming language.
It utilizes an ASIC-resistant, memory-bound and power efficient PoW called Cuckoo Cycle, enabling faster than 15 second block times. The PoS mechanism is used for governance and allows every AE token holder to vote on system values such as block size, fees, and forks. Moving load away from the blockchain also allows for parallel and even partial execution of smart contracts, increasing system scalability and flexibility dramatically.
However, this description could also apply to a large number of other crypto currencies and smart contract platforms. However, Aeternity has big ambitions and does a lot to stand out with its features from the other competitors. Vlad is a digital marketing analyst and Bitcoin entrepreneur. He is the founder of BitHope.org, CryptoCrowd.org, and the Bitcoin/Blockchain meetup in Sofia, Bulgaria.
- Tokens in channels can be transferred using purely functional smart contracts that can access oracle answers.
- Efficiency is gained by avoiding layering one consensus mechanism on top of another.
- Over the years he has coded in C, C++, Perl, Java, Ruby, Visual Basic, PHP, and more.
State channels allow micro- and nano-payments to be executed much more quickly and cost-effectively. Moreover, only the peers involved in the value transmission or who own the smart contract code need to know any details about the transaction, thereby significantly increasing the level of privacy. Any dispute between the parties can be quickly settled by announcing the last mutually agreed state of off-chain interaction on the main chain (on-chain).
Aeternity is a scalable blockchain architecture with a consensus mechanism which is also used to check the oracle. Efficiency is gained by avoiding layering one consensus mechanism on top of another. State channels are integrated to increase privacy and scalability.
He loves bringing his passion and knowledge into developing scalable and innovative solutions, as well as educating others about blockchain technology. Erik has been programming for fun since 1980, and for profit since 1989 when he started his first development company.
Ulf Wiger became one of the first commercial users of Erlang when he bought a license in 1993. In 1996, he joined Ericsson and became Chief Designer of the AXD 301 development, arguably the most complex system ever built in Erlang. In recent years, Ulf has been involved in products based on the AXD 301 architecture and has been an active member of the Open Source Erlang community. In February 2009 he became CTO of Erlang Solutions and is currently working to develop the aeternity blockchain. Being intrigued by the magic of blockchain technology since early 2014, Marion is especially interested in connecting the dots between technology and the growing community.
Aeternity coin price
The data generated beyond the blockchain should be able to be used in Smart Contracts. It is conceivable that a Smart Contract is dependent on a condition whose fulfilment is measured by sensors (e.g. weather data) and written into the blockchain. If the condition is fulfilled, the Smart Contract is executed. However, before we go into more detail, it is important to remember that Aeternity has no great ambitions to become a currency for daily use. The focus of Aeternity is rather on processing data via the blockchain platform.
The token can be transferred between participants in the network and used as a reward for mining efforts, as well as fuel for smart-contract and transaction execution. AEs are considered votes in the PoS decision-making process that fine-tunes fundamental system variables. This allows for transparent on-chain governance and enables æternity to evolve technologically, matching the speed of user demand. Programming complex relationships for a large number of users, æternity can handle a large number of decentralized applications and value transfers with ease.
This ensures unmatched efficiency and significantly reduces the cost of running smart contracts and facilitating transactions. With a view on increased smart contract utility, aeternity is implementing integrated oracles, which can be used to request and access real-world data from various providers. The PoS consensus mechanism is used to check the validity of answers and imbue them in the blockchain, making them available to anyone.
Research on the socioeconomic impact, spreading the word and taking care of handling æternity's operations efficiently is where she performs best. Previously she worked in marketing and business development in Silicon Valley. Aeternity coin is being built on Erlang, a functional programming language that has been used in telecommunications for more than three decades. Erlang has proven to be well suited for distributed systems with high-fault tolerance, running highly available applications.
Virtual Machines on the Æternity blockchain
Nevertheless, Aeternity is a project that will attract attention if successfully implemented, especially with the mainnet launch. In most blockchain systems, entities or their addresses are addressed or identified by their hashes. Aeternity has therefore developed a naming system that allows users to assign user-friendly identities and addresses.
Thomas has the ability to translate scientific theory into practical applications. He is one of the main developers of the QuickCheck testing tool. As the founder of the publishing media company Proud, a Restaurant named Beuster and two tech start-ups called Dropspot and Abend, Emin has been an active entrepreneur since 2008.
Erik built up the Engineering Department at Klarna from the start. In his limited spare time, he is writing a book about the Erlang Runtime system. It is at the center of æternity's blockchain economy and ecosystem.