Aeternity is a blockchain-based open source decentralized distribution platform. It is made to enable smart contracts, decentralized oracles and transacting using high bandwidth. Decentralized virtual machine is the key technology behind this. Using a large amount of public nodes which are connected with each other using state nodes, the virtual machine can execute scripts.
Aeternity promises a more scalable smart contract system than etherium. It is said to be much more efficient too. Both bitcoin and etherium revolutionized the field upon their release. There not much in the Aeternity what etherium or bitcoin doesn’t offer. Since the technology is changing day by day, these ecosystem needs to be updated day by day.
Aeternity revolves around its token called the Aeternity token. Aeternity token can be transferred from one participant to another. Using this token the nodes are compensated for the computations that they perform. The Aeternity token is used for buying more space and computation time on the virtual machine in the Aeternity ecosystem. Aeternity has even built in an anti spam feature to each one of its coins.
Yanislav Malahov is the founder and the CEO of Aeternity. He is commonly called as the ‘godfather of etherium’. He is the one who came up with all those powerful algorithm with which etherium works on. So one dosent have to worry about the expertise and the knowledge Yanislav brings onto the table. Marion Vogel is the director of Aeternity. She has several years’ worth of experience in the blockchain technology field. Emin Mahert is the COO of the company. He is an active entrepreneur since 2008. He found two startups namely Abend and DropSpot. He has also one Media Company and a restaurant chain under his belt. Nikola Stojanov is the CBDO of the company. Sergei Evedekimov is the chief developer of the company.
How Does Aeternity Work?
The scalability has always been a problem in the blockchain field. Aeternity is meant to cure this problem. Aeternity has also claimed that they can solve the problem with decentralized providers of the real world data, oracles, safety concerns in scripting and mainly the overall governance. Even though etherium is on its way of solving all these, Aeternity tends to rely upon it’s all new, state of the art RAIDEN network system for solving the above mentioned problems.
Aeternity is implementing a unique system of governance namely the futarchy. In the futarchy system, miners are also able to vote and the value holders will make all the decisions together. With the use of this system, a consensus can be reached using the Proof of Work (PoW) and Proof of Stake (PoS) algorithms.
Aeternity is considered to be a uniwue crypto currency by many. It is because Aeternity has never been shy towards breaking boundaries or pushing the innovative limits. Aeternity has eliminated every single point of failure. Aeternity in this critics books, qualify as one of the most effective and innovative blochain based crypto currencies available in the market.
The Aeternity Altcoin
Aeternity went for $0.69 at the time of launch in June 2017. Then the price of Aeternity coin rose as highly as $1.20. in September 2017 price came down as low as $0.34. the coin managed to rise alongside bitcoin to reach $1.7 in December 2017. After that altcoin has been in a steady rise and the future looks promising.
Aeternity and etherium has a lot of similarities. Aeternity can be used for a lot of purposes like crowdfunding, information markets, fintech projects, micro and nano funding, videogame rewards etc. Aeternity has baught a huge amount of innovation in the blockchain technology and it has the potential to be the cure for a lot of conundrums faced by etherium at the moment. If the Aeternity team can keep this pace going the future looks bright for them.