ÆTERNITY MOONING (APRIL 2018 crypto-news)!
I was trying to find out if any altcoins actually "mooned" spring 2018, and ÆTERNITY (AE) ACTUALLY DID MOON!!! (and ÆTERNITY is still going strong now at the end of April 2018)!!! There is a lot of speculation on what cryptos might "moon", but not much written about the few altcoins that do "moon" so here is something:
Chart Source:
https://www.cryptocurrencychart.com/chart/AE4/price/USD/linear/2018-01-02/2018-04-30
Why is this happening?
To be honest I am not sure, they seem to offer the same things as many other altcoins, and it feels to me like they are trying to compete with Etherium, they have smart contracts that are scalable and they use some kind of tech they call "The Oracle Machine" not sure how this works, but maybe someone out there wants to talk about this in the comments?
They also seem to have their smart contract transactions "off the blockchain" and this allegedly makes them more private because they are not saved forever...? Not sure how this works either, but it makes this blockchain faster they say...? I guess you can call that optimization? But wouldn't this compromise the integrity?
I am going to keep it simple on the details and let the technical experts feel free to explain these things in the comments!( @sorin.cristescu, @tspink ??? 😊 Edit: @tspink made a whole article further explaining everything in great detail, please check it out here!)
Yanislav Malahov
Yanislav Malahov
The funder of Æternity is called Yanislav Malahov, and he is one of the original creators/developers behind Etherium, I am suspecting this might have something to do with the increasing popularity and price increase of Æternity (AE).
The project is located/registred in Lichtenstein a small country and tax-haven in central Europe with similar banking laws to Switzerland, with even stricter privacy (or so I heard) ...
æternity is a new blockchain technology, designed to deliver unmatched efficiency, transparent governance and global scalability.
Source: https://www.aeternity.com
It would be fun to hear what people here on steemit.com think about this project?
• Anyone invested in ÆTERNITY?
• Experts please feel free to comment and teach us more about this project!!!
Oh yeah, ÆTERNITY are intelligent enough to be here on steemit: @aetrnty!!!
So go there and show them some love !!!
Cheers and thanks for reading my post friend!
(I have to post this now before it is yesterdays crypto-news 😊 )
Follow! Upvote! Resteem!
Source material and more reading:
https://en.wikipedia.org/wiki/Æternity
cryptocurrencychart.com
I had a look coincidentally this morning precisely because I saw it surpassing Steem on Coinmarket Cap and it looked unfamiliar.
The main idea behind Aeternity is rather obvious: current state-of-the-art IT architecture recommends 3-tiered designs:
Now if looking at bitcoin with the eyes of an IT architect, one sees a rudimentary, unarchitected program. It has the storage capacity and processing abilities of a mainframe assembly program from the era of Grace Hopper and no user interface.
Ethereum is barely more evolved, architecturaly speaking, resembling a mainframe program from the early 60-ies with very limited data storage capability and a tight coupling between the data tier and the "business logic" (smart contracts)
Steem is already more advanced because it focuses on the data tier only and has events which can trigger "business logic". However the distributed consensus only works on data, not on code. Steem aims to implement "distributed code execution followed by consensus" (i.e. "smart contracts") with SMT
Now aeternity claims to do the same. Yes, everything they say in the whitepaper makes sense and is a step forward in the right direction. But that is the case with many, if not most other projects including EOS, Nano and of course Steem / SMT
The difference will be firstly in the execution - how each of these manages to pull off a flawless implementation.
Secondly, it will be in getting critical mass and dev-community adoption.
Thirdly, it will be down to sheer luck (like the young Bill Gates being at the right moment at the right place and selling his DOS to IBM)
Hence, it looks to early to call the mooning of aeternity sustainable. Looks more like "pump and dump" as far as I'm concerned.
Most importantly, there's reason to believe that once SMTs are out (if ever) STEEM will moon too
Not sure why my steemauto "fanbase" did not automatically upvote your post since I'm your fan ... nevermind, I upvoted manually.
Thanks for your in-depth comment @sorin.cristescu, interesting analysis of the IT-architecture of bitcoin, etherium vs æternity... You are very knowledgeable in these matters!
I was also thinking it might be a so called "pump and dump" but I wanted to try and spread some positive news this time, 😊 lol... We will see, maybe it's still a good time to make a small investment...?
Anyway, hopefully the success of these type of blockchains will help STEEM and their SMT launch, since there is similarity, I guess we will see what happens in the near future!
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Thank you for the mention @friendly-fenix I wrote a post about it to answer your questions here since it was a little long for a comment. You can read about it here it looks like the recent rise and now falling was due to ÆTERNITY Launching the House of Blockchain in Liechtenstein like you had eluded to in your article. I'm not invested in ÆTERNITY myself at this time but its one I'll be keeping my eye on from now on. So thanks pointing it out and drawing my attention to it and thanks again for the mention! Always look forward to your posts :)
Cool @tspink, I am glad I inspired you, going to resteem your post!!!
Liechtenstein is one of these strange little places where I would imagine James Bond villains would live... =) (I am going to read your post now and maybe also buy a couple of AE's just because!)
Thanks for the comment!!!
Thanks for the résteem! Haha it looks like an interesting place to live for sure. Love the castle picture tho. Hopefully with your AE now you’ll be able to afford one in the future! Lol
I am too lazy to make an investment, I probably should... I need a castle...