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Review on Aeternity by Bethany Clements
Oracle machines connect smart contracts and real-world public data. Oracles…
Oracle machines connect smart contracts and real-world public data. Oracles are more powerful as a category than the computational models that are Turing complete. Aeternity includes decentralized oracles to provide tamperproof public data and then execute a smart contract based on this information. This can be useful in the case of smart contracts that depend on things like the weather, the price of gold or other assets, election results, or something else that is public knowledge. The oracles on other blockchains tend to have a single point of failure, but aeternity’s oracles are decentralized, reducing the risk of failure.
Pros
- It provides a ‘naming’ service for account holders to hold a verified and easily identifiable account that can be used for identification across the web. This may sound trivial, but in the current blockchain world, accounts are labelled by a long string of numbers.
Cons
- Consensus Consensus is achieved via a novel hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithm.
