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Review on Aeternity by Louise Griffin
Aeternity proposes decentralizing oracles with their oracle machine. Doing so…
Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.
Pros
- An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams.
Cons
- Aeternity is calling their decentralized applications, “aepps.” They’ll be developing open source aepps ahead of the launch of the mainnet as a demonstration of the capabilities of the Aeternity network. Having useful aepps available from day one is important for Aeternity to establish a foothold in the crowded dapps platform race. Aepps on Aeternity will prioritize mobile-first design and user experience. Aeternity hopes to attract mobile and web app developers with easy to use javascript tools and compatibility with the React framework. Aeternity is also building an incubator foundation. The foundation will provide support for building projects on Aeternity.
