Project Overview
Aeternity was initiated in 2016 by German-born computer scientist "Ethereum Godfather" Yanislav Malahov and former Augur core developer Zack Hess and former Synereo core developer Jack Pettersson, bringing together many disruptive innovations All in one, it aims to restore the underlying protocol of today's smart contracts. The technical highlights of Aeternity are Turing-complete State Channels and decentralized oracles.
Project Highlights
State Channels
Æternity's smart contracts are purely functional options that exist only in state channels. Users interact only on the sidechain. Only when there is disagreement, code, smart contracts will involve the blockchain. The whole model is like a digital court with self-judgment capabilities.
The state channel adopted by AE can have many side chains outside the main chain. The side chain is the state channel. The smart contracts and transactions run in this state channel, and finally the results are stored in the main chain. above. Each side chain can process dozens of transactions, and the side chain can be expanded infinitely, which realizes the transaction process off-chain, and only saves the results on the chain. When there is doubt, the intermediate process can also be submitted to on the main chain. Since the transaction results are processed off-chain, AE also provides privacy very well. There is no record of both parties on the chain, and only the final result is stored.
Decentralized Oracles
Oracles realize the connection between real-world data and smart contracts. Oracles are more powerful than Turing-complete computing models.
Consensus
“aeternity blockchain achieves consensus in a creative way through a dual algorithm combining proof-of-work and proof-of-stake.”
Unique technical governance
aeternity brings a future society where absenteeism will vote, and value holders will make decisions together.
Privacy
Transaction records for many commercial applications do not need to be recorded in a public ledger. Aeternity’s smart contracts only involve the blockchain when consensus cannot be reached, operating like a digital court with discretion.
Security
Top data encryption structure, extreme decentralization, bring efficiency and eliminate the possibility of failure.
Low cost
The state channel in the aeternity blockchain is the default way of running smart contracts, so aeternity will become the most efficient Turing-complete blockchain, which also makes low A tokenized form of cost becomes possible.
Application scenarios
Fund incubator
aeternity will set up a foundation to help developers, entrepreneurs and start-ups who develop open source projects on aeternity.
Applications
When the aeternity platform is released, important open source applications are also delivered. This allows people to actually use blockchain technology from the very beginning. Please see our white paper for more information on applications.
Audience
aeternity emphasizes the integration of web browsers and emphasizes the priority of mobile terminals, which will make more people accept aeternity.
Meetings and Conferences
We organize meetups and conferences around the world.
Education
On the technical side, aeternity will provide developer training salons and mentors to shorten the distance between everyone and technology. For those companies and individuals who are interested in aeternity, aeternity will provide support.
Research and Academic
aeternity will continue to research the most cutting-edge technology standards and expand our cooperation with international scientific research institutions to keep aeternity's technology up-to-date and safer. Some collaborations will be officially announced at a later date.
Institution
Behind the aeternity blockchain is the aeternity institution, located in Liechtenstein. Ongoing communication with regulators is critical to ensure that the aeternity project remains within the legal legal framework.
