æternity is a new blockchain – designed for fast and secure smart contracts interfacing with real-world data via a decentralized oracle. It will be powered by the æternity token (AE symbol, also ‘æon’). Tokens are used as payment for any resources one consumes on the platform, as well as the basis for applications implemented on the platform. The distribution of æternity token [AE] in the genesis block will be determined by a smart contract hosted on Ethereum.
Scalability is achieved by using (trustless) turing-complete state channels, a major difference to Ethereum. This way the smart contracts also become easier to analyze and more secure. The interface to real-world data is done via an innovative oracle design, which is based on prediction markets.
Contribution campaign starts April 3rd, 13:05 GMT and will last for 3 days – until April 6th, 13:05 GMT. More details here.
• Hybrid Proof-of-Work Proof-of-Stake blockchain
• Consensus achieved by PoW mining
• Algo: ‘Cuckoo Cycle’ by Tromp: GITHUB WHITEPAPER BLOG
• Minable with even with smart phones achieving highest possible decentralization
• Governance via PoS prediction markets
• Prediction markets are proven to very good tools to destill information out of a crowd of people. Better then simple voting!
Implementation: æternity core blockchain code is written in Erlang, which makes it easy to write distributed, fault-tolerant, soft real-time, highly available, non-stop applications. Erlang is the perfect language to write a blockchain from scratch and by using it, we achieve a superior operational stability and performance.
Roadmap for æternity: