These are days of innovation of new technology and empowerment. The Blockchain really has been changing this world in a better way. One of the keys and interesting development of this period is the Bitcoin and Altcoins. As the Warren Buffet and Munger are telling it a bubble is now almost outdated. This is a new technology but it is going to stand out and make the world decentralize in every possible way.
This is the best time to invest in cryptos. Therefore, I also have invested in several Altcoins including the Aeternity coin. æternity is a new Blockchain technology, designed to deliver unmatched efficiency, transparent governance, and global scalability. Therefore, I think that Aeternity is going to surpass Ethereum and will emerge as victorious as Ethereum is facing some storage problems. Some of the features of Aeternity are followings:
State channels make it possible to execute smart contracts off-chain. Only in case of a disagreement between the contracting parties does the smart contract code get enforced by the blockchain.
A network of state channels enables the exchange of value with anybody in the world in a trustless way. Participants interact privately with each other. Businesses have their records off-chain and not in public. Participants have infinite almost instant transactions. Participants can handle use cases that require very high volumes of transactions.
A consensus is achieved via a novel hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithm.
Consensus is achieved via a novel Proof-of-Work (PoW) algorithm. The “Cuckoo Cycle” PoW is more power-efficient and indirectly useful, as it encourages the development of better random access memory (DRAM) chips. Even smartphones can mine, achieving unparalleled decentralization. Proof-of-Stake (PoS) is used for governance, which is done via (delegated) voting, weighted by the number of tokens the account holds.
æternity is governed by its stakeholders, meaning that miners, token-holders, and others with a stake in the blockchain have the ability to make decisions together on proposed changes.
æternity provides tools enabling participants to govern themselves effectively. It is essential to note that governance is very much a human problem that most likely cannot be “solved” purely by technical means. æternity’s governance is implemented via delegated voting, weighted by the number of tokens the account hold and provides both technical tools to permit governance and frameworks for human interaction for effective discussion.
An oracle connects real-world data with smart contracts. æternity has oracles on the blockchain, as truly first-class objects.
What if the fulfillment of a smart contract depends on weather conditions, a share price, or other public information from the real world? Oracles can provide tamper-proof data which contracts can act upon. Election results, the prices of assets such as gold, weather conditions and many other real-world values play a crucial role in many business applications.
For many business applications, it’s crucial to have transactions which are not recorded in public. Smart contracts executed in state channels touch the blockchain only in the case of disagreement, acting like a self-arbitrating crypto court.
State-of-the-art cryptographic data structures and unparalleled decentralization provide efficiency and eliminate single-point-of-failure.
By leveraging state channels as the default way to run smart contracts, æternity becomes the most efficient Turing-complete blockchain and thus enables new forms of commerce via its low-cost transactions.
Read the Whitepaper here
Always remember that said that only invest that much in Cryptos which amount you afford to lose. And please remember that I am no blockchain and crypto expert and this post is only for information purpose.
Disclaimer: All opinions and views that are expressed here are on the purely individual basis and for informational purpose. None of the articles are to be construed as giving financial or investment advice of any type whatsoever. We do not guarantee the accuracy of the information as well. Please do your own research before doing any sort of investment.