Skip to main content

Coin of the Internet Realm, Aeternity



Aeternity is a brand new coin that provides quick and safe smart contracts that interfere with real world data by way of a decentralized oracle. It achieves scalability through Turing-complete state channels, this is one way in which it differs from Ethereum. Through a major innovation in oracle design, the interface to data in the real world is based on prediction markets. Scalability is increased by the state channels because all of the transactions are independent, this allows them to be processed in parallel. In addition, contracts will never write to a shared state, keeping the testing and verification simplified.

Aeternity is powered be an Aeternity token, which can be symbolized as either AE or Aeon. Resources that one may consume on the platform are paid for with these Aeternity tokens, they are also used as the bases for any implemented applications on said platform. A small contract that is hosted on Ethereum will determine the distribution of Aeternity tokens in the genesis block. An account that will support human friendly names as well as have an address and balance will manage the Aeternity tokens.

There are three identities in Aeternity, they are pubkey, hash and a name. The pubkey comes from the account, the name is from the alias, and the hash links to any further data on the IFPS.

The blockchain itself is made up eight components, they are as follows:

  • 1 The hash of the previous block
  • 2 A Merkle Tree of transactions
  • 3 A Merkle Tree of accounts
  • 4 A Merkle tree of names
  • 5 A Merkle tree of channels
  • 6 A Merkle tree of oracles that have not answered the questions asked to them
  • 7 A Merkle tree of oracle answers
  • 8 A Merkle tree of Merkle roots, these are used to prove identity and to prove the existence of the blockchain.


This blockchain is of course revolutionary in the way that it functions. It is a hybrid of a Proof-of-Work and a Proof-of-Stake blockchain. It achieves its consensus through POW mining. And uses a "Cuckoo Cycle" algorithm by Tromp. These blockchains are even able to be mined with smart phones, allowing it to achieve the highest possible level of decentralization. Governance is achieved by way of PoS prediction markets. These Prediction markets have been shown to be very good tools to extract information from crowds of people, it has even been shown to be better than basic voting.

Aeternity boasts an infinite trustless off-chain transaction speed that is limited only by the speed of light since the transactions are taking place in state channels. The on chain transaction speed is defined by four variables. "B" which is the block size measured in bytes. "F" which is the blocks till finality. "R" which is the time till finality measured in seconds, and "T" which is the transaction size measured in bytes. It should be noted that these variables are always being updated by either the consensus or the governance.

Aeternity utilizes a Turing-complete virtual machine that processes smart contracts through MAST. Aeternity turns these smart contracts into financial agreements that distribute money according to rules that are predetermined.


Video:



Join the ICO @ ICO Website or read the BitcoinTalk.org Annoucement



Comments

Popular posts from this blog

What is iDice?

iDice is a dice betting Dapp fueled by the use of the Ethereum organize. eg. iDice lets in players do several things and having such an innovative new token on the ETHEREUM Platform, we had to write an article about this new project. Guess on the space by the use of keeping up iDice tokens and best of all 100% of all benefit iDice acquires is dispersed among token holders, related to the amount of tokens they dangle. iDice amusement code is decentralized and changeless. Such gigantic building fees highlight a rising requirement for experienced, fair and cast Dapps. iDice iDice is an control which gives a provably affordable and simple, virtual Ethereum dice betting Dapp. The house edge will be set intensely and token holders have an atypical esteem that is dependably equiva- loaned to the house edge. iDice has a fully simple provide code accessible at etherscan.io. The payout of recreations is many times speedy. Provably Fair iDice uses open provide blockchain...

DENT: THE World First Tokenizing Portable Information Trade

You may be confused on all the exciting Ethereum projects, but therefore i make sure to follow allof them and choose the best for you. If you want to read about a more interesting project, then DENT is the way to go. I will be able to advice on a few tokens that can be bought out there which clearly we likewise might occu : Estimated token incentive on ETH presented within the token deal: 152,000 ETH (Relying on sorts via crowdsale) 100 Billion (100,000,000,000) the amount of DENT Tokens made, of which 70% is bought on token deal, a minimum of 35% can be stored for customers with littler spending plans. For the ones of you who're eager about ico smartcontract prolong that we regularly listen in non-obligatory cryptographic cash or altcoin without a doubt no longer outdoor to the workings of undertakings like this. Evaluated swapping scale: 1 ETH = 400,000 DENT 30% will keep on DENT Wi-fi for DENT shopper motivating forces and compensations Bills may well be made via ETH...

Fake Libra scams pose new challenge for Facebook

Almost a year after Facebook's Libra was first announced, the outlook for the stablecoin looks starkly different. Once hailed as a game-changer for digital currency, the project has been beset by delays and regulatory difficulties. Now, fake Libra scams are presenting an increasingly pressing new challenge for Libra and Facebook, with a proliferation of websites claiming to offer investment schemes denominated in fake Libra tokens. Dante Disparte, Deputy Chairman and Head of Policy and Communications for The Libra Association, said the organization was now constantly working to suppress fake Libra scams: "As we become aware of these sites, we work diligently to address them. We respond to inquiries concerning the validity of these pages, indicating that the only official website is Libra.org." "We are still in the early stages of this project and work to address issues like these as they arise," Disparte told Finance Magnates, urging people to report the scams. ...