With so many blockchain platforms in development, it can be difficult for new blockchain enthusiasts to be able to stand out in the market. As a result, many platforms look to come up with new ideas to explore unexplored territories to be able to grow in the industry without having to face the fierce competitions. That, however, is not the case with Aeternity. Launched as a testnet in early 2017, Aeternity is a new platform for Dapps (decentralized Apps). Built on a next-gen Blockchain 3.0 technology, Aeternity is a platform that focuses on the task of increasing the scalability of decentralized apps and smart contracts, improve transaction speed and privacy. Aeternity moves the smart contracts on the off-chain to accomplish scaling.
Aeternity was founded by Yanislav Mahalov, who is also dubbed as the God-Father of Etherium. He even in an earlier project at one point, worked as a lead developer with Vitalek Buterin. Having significantly affected by the financial market unrest following the collapsing of the Eastern Bloc, Mahalov used blockchain to invent a new and more inclusive world economy as a means to deal with economic inequality. With the goal of providing a global platform that would grant users with access to a scalable, fast and unfailing financial tool, Aeternity is regarded as a better and improved version of Ethereum. Project Aeternity began at the start of 2017, and after launching their ICO during the June of the same year, Aeternity raised USD 24,000,000 within two phases of their token sales. It was also released as an ERC-20 token, but the developers are currently working on their mainnet release.
The blockchain can be used by spending the Aeternity tokens known as Aeon tokens or AE. You will need to use ERC-20 compatible wallets since, as of now, they are an ERC-20 token. Some ERC-20 compatible wallets are the Ledger Nano S, MyEtherWallet and TREZOR. Storing them on the hardware wallets is better as security and access aren't compromised, in case of hardware failures. Once the Mainnet is launched, the tokens will be replaced with the AE Tokens. AE tokens will be used for any activity that is carried out within the Aeternity Blockchain. This includes powering the Dapps that will be developed on as well as powered by Aeternity. You can get AE tokens on popular Crypto exchange sites like Binance, Bithumb, Okex, DragonEX, and ZB.com.
Smart Contracts: Aeternity allows for credible transactions to be made without third parties. Using the Oracle integration, smart contracts are backed up with actual world data like prices of assets, weather conditions or results of elections, a primary requirement for the fulfillment of contracts that depend on this kind of data.
State Channels: In a smart contract, State Channels are the lines of communication between the parties. These lines only touch the blockchain when they must, like when transferring values or resolving transactions. State channels can function more effectively because of their off-chain nature.
The Oracle Machine: Oracle machine is an essential feature of Aeternity. Real world data like weather conditions, share prices or actual world public information could determine the outcome of a smart contract. Aeternity uses the Oracle machine to decentralize the oracles so that the real world data remain unchanged after it having Aeternity's blockchain.
Aeon Token or AE: The AE token was launched in 2017 as a token based on Etherium, which will be replaced with their own AE once the mainnet has been launched. The token will be used for any transactions within the network.
Proof Of work and stake Hybrid Protocol: Aeternity relies on a hybrid POW and POS algorithm (proof of work and Proof of stake). This ensures maintenance based on delegated voting, as well as determined block order.
Safe transactions: Transactions in Aeternity are irreversible, the result of the fraud-resistant network built by the blockchain technology of Aeternity.
The benefits of Aeternity: Aeternity tokens have a lot of advantages that differentiates Aeon from other cryptocurrencies. Aeternity was developed by Yanislav Malahov, and the platform is in every way an improvement to Ethereum. Having launched to port the Blockchain 3.0 successfully on their platform, Aeternity is also backed up by quite an impressive technical team. The development team is also working on their security, adding more layers to the present consensus, along with the development of a mobile-first approach. This makes it a very accessible blockchain network.
Aeternity programmers are also planning to develop and launch a range of accelerator and incubator programs called Starfleet. These are programs that would be designed to provide support to the entire blockchain systems, pushing the eternity blockchain technology into mass adoptions. Miners, as well as token holders, can make votes on the proposed changes that the developers want to bring out. This is a great feature that can help Aeternity in the long run.
You can use the Aeon tokens or AE tokens to fulfill system fee payments and settle smart contracts. You can buy AE tokens from many exchange sites like Latoken, Binance, Liqui, Bithumb, and Gate.lo. The downside is that the Aeternity cryptocurrency can be availed from many exchanges, so you may have a difficult time getting AE tokens for a reasonable price. You can use Coinswitch to help you find the right price for the Aeternity cryptocurrency. If you don’t want to spend fiat currency or are already invested in another cryptocurrency, Aeternity supports over 300 cryptocurrencies which you can use as an exchange for Aeon tokens.
As of October 2018, the market cap of Aeternity stands at a USD 265.6 million with the maximum supply of the Aeon tokens coming at a 30 million AE. During its launch, the AE was priced at USD 0.684297, and within the same year, Aeternity gave its investors interest of 753% returns and rorse rapidly up to USD 5.86.
|Genesis Date||September 02, 2017 (6 months)|
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