1 Level
5 Review
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Review on Aeternity by Adaline Lorentzen
Naming System Naming System enables user-friendly identities for blockchain…
Naming System
Naming System enables user-friendly identities for blockchain entities, such as user accounts, oracles, contracts, etc.
Privacy
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.
Security
State-of-the-art cryptographic data structures and unparalleled decentralization provide robust efficiency and eliminate "single
point of failure" (SPOF) issues.
Low cost
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.
Pros
- Smart Contracts æternity powers Turing-complete smart contracts that allow the execution of credible transactions without third parties and intermediaries State Channels State channels make it possible to execute smart contracts off-chain. The blockchain enforces the smart contract code, only in the case of a disagreement between the contracting parties.
Cons
- Oracles An oracle connects real-world data with smart contracts. æternity's oracles are truly first-class objects on the blockchain. Unique Governance æternity is governed by its stakeholders, meaning that miners, token-holders and other participants with a stake in the blockchain have the ability to make decisions together on proposed changes.
