Presentation and definition of the crypto-currency Aeternity (AE)

Presentation and definition of the crypto-currency Aeternity (AE)

  • Name of the crypto-currency : Aeternity
  • Abbreviation : AE
  • Where to buy Aeternity ? Binance
  • Creation Date : September 2017
  • White paper of Aeternity
  • Web Site of Aeternity

The blockchain new generation

Aeternity is a blockchain new generation, which has the objective of bringing together all the latest technological innovations in a single platform. The system offers a blockchain that is less public than Ethereum but that is aimed primarily at the market of the finance. The blockchain Aeternity includes “state channels”. These last allow to optimize the scalability and the security of the blockchain. The programming codes of the contracts are not stored on the blockchain and smart contracts can therefore run faster.

The operation of Aeternity

The project uses oracles decentralized to communicate the data from the “real world” with smart contracts. Aeternity the use of a consensus hybrid which combines the Proof of Work (proof of work) and Proof of Stake (proof of stake). The smart-contracts are created off-chain and stored on the state channels. Thus, we can compare this system to Raiden, who also proposes to carry out transactions off-chain, to the blockchain Ethereum, or even Lightning, offers the same process but for Bitcoin.

The tokens

The network Aeternity uses the tokens Aeon (AE). It is a tokenERC20 but it is scheduled to come on stream in 2018 that Aeternity develops its own blockchain. The tokens are used for all actions on the network, including the votes. In effect, the decisions concerning the development of Aeternity shall be subject to a vote of the members of the community. To vote, participants must place their tokens on a choice. It is a market of predictions, one speaks of the system of futarchie (futarchy).