Aeternity (AE) is a blockchain platform that focuses on high bandwidth transacting, purely-functional smart contracts, and decentralized oracles. It was founded in 2017, and seeks to eliminate inefficiencies in the crypto market by increasing scalability of smart contracts and dApps, sharding, and off-chain contract execution. The Turing-complete smart contracts on the Aeternity chain allow for transaction execution without third parties or intermediaries. Aeternity also has state channels to enable off-chain smart contract settlements which only touch the blockchain should a disagreement in the contract arise, acting as a self-arbitrating crypto court. The Aeternity blockchain is also built upon state-of-the-art cryptographic data structures which give rise to robust efficiency, strong security, and the elimination “single point of failure” (SPOF) issues.
Aeternity (AE) Platform & Cryptocurrency: An In-Depth Look
Aeternity is a new platform for decentralized apps (DApps) launched in testnet in 2017. It also held a successful token offering in 2017 for its Aeon (AE) token.
The project focuses on increasing the scalability of smart contracts and DApps. It accomplishes scaling by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts.
Aeternity includes several other features that set it apart from other smart contract and DApps platforms. Notably, it includes a decentralized oracle machine that brings in data from outside sources for use in smart contracts. It also uses prediction markets for various voting and verification purposes within the platform.
Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov, Aeternity has quickly risen to the top 40 projects in the world by market cap.
In this article, we’ll do a deep dive into Aeternity, its advantages, and potential use cases.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.