Aeternity, innovation is the future of cryptocurrency.
History at a glance:
Bitcoin revolutionized the concept of currency by transferring the funds online and at that time the whole new era of cryptocurrency started. Bitcoin solved the problem of online funds transferring which have high chances of fraud. Bitcoin establishes the new era of online money transfer by surpassing the Ethereum but timestamping is flawed, and proof-of-computation algorithms are very limited in Ethereum This program also have some others flaws but thanks to Aeternity who solved the future problems digital currency.
Why Aeternity?
Aeternity is a new blockchain having decentralized oracle. Oracle machine is more powerful than other models in connecting real world data with contracts. Oracle also allows users to ask anything about the environment and everyone else can answer the question, but if the Aeternity disagree with the discussion on that particular question then their consensus mechanism plays its role. It also has unique governance where miner votes are equally valuable.
Moreover, the money transfer of businessmen are not publicly shared and give maximum privacy. Along with privacy they provide high level of Confidentiality because only involved parties have the access to know about the contract.. With these entire plus points it has low transaction cost. Main state channel is used to store information without blokchenya. They also provide token known as AE tokens which are used as unit of account. They increased the efficiency and solved the problem of computing process produced in a range of capabilities. Aeternity purely combines web and mobile because code is written in Erlang, and become “mobile first” interference.
Aeternity defines network setting in timely manner making it more and more efficient. Issues with the previous Ethereum were problem of computing process produced in a range of capabilities (scalability), low cost access and security scenarios. And the biggest downfall of Ethereum is not updating these scenarios. But Aeternity overcame these issues and came up with the revolutionized programs. State channels increase scalability (which is a computing process produced in a range of capabilities) since all transactions become independent and can thus be processed in parallel. And its blockchain is very easy to use having MIT-licensed module. The consensus is used for security scenario and the mechanism works on the PoW and PoS algorithms.
The Proof of work concept existed even before bitcoin. While, proof of stake (PoS) happens by a miner putting up a stake, or locking up an amount of their coins, to verify a block of transactions. Aeternity takes basis “Tromp’s cuckoo cycle ” which only based on memory and can work even on your smartphone and you do not need high class PC for this process. Aeternity gives best management of online money transaction. Aeternity took a high step in the crypto world by their most efficient programs which solved the problems of previous Ethereum blockchain. They will make new projects for our daily life use in future and they will also be the best one.
Quick Links:
· Official Website: http://www.aeternity.com
· Blog: https://blog.aeternity.com
· Announcement Thread: https://bitcointalk.org/index.php?topic=1733140.0
· Reddit: http://reddit.com/r/aeternity
. Facebook : https://www.facebook.com/aeternityproject
. Twitter : https://twitter.com/aetrnty
. Github : https://github.com/aeternity
. Whitepaper : https://blockchain.aeternity.com/æternity-blockchain-whitepaper.pdf
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