Review on Aeternity by Poppy Stewart

Name: Aeternity
Item: Aeternity
Rating: 4

September 19, 2018

Industrial-grade code base. æternity core is written in Erlang, which is a…

Industrial-grade code base. æternity core is written in Erlang, which is a highly scalable, fault-tolerant language for writing distributed systems allowing to achieve superior operational stability and performance.
Smart contracts allow decentralized highly available, non-stop applications.
State channels enable highly scalable, trustless transactions of value and purely functional, easily verifiable Turing-complete smart contracts.
Integrated Naming Systems, which are both decentralized and secure, while still supporting human-friendly, memorable names.
Oracles, which are a crucial feature for most contracts, are the ability to refer to values from real-world data. Identity Accounts, which allow for one to create and own identity on the æternity network to use on the web, in real-life, or voting systems.
the "Cuckoo Cycle" mining algorithm, which is a meory-hard mining algorithm that improves the ASIC proble. It provides great decentralization potential.
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Pros

æternity allows for execution of Turing-complete smart contracts that allow the execution of a credible transactions without third trusted parties. The design and implementation of the æternity smart contracts focuses on making the execution of smart contracts safe, efficient and cheap. æternity supports multiple virtual machines: The High Level Machine (HLM) that allows for blindingly fast and cheap contracts written in Varna language with a known cost to be executed; The Functional Typed Warded VM (FTWVM) that is used to efficiently and safely execute contracts written in functional language Sophia - OCaml based scripting language, Sophia, which can be formally verified; æternity Ethereum VM (AEVM), which is a ported to Erlang Ethereum VM, that can execute smart contracts written in Sophia, as well as in Solidity, thus providing a simple way to migrate from Ethereum

Cons

As of lately there have been a couple of strong developments around the project. First of all, the coin recently launched its own native mainnet and begun the process of migrating the ERC-20 tokens to the native blockchain based ones. It became a part of the Atomic Wallet portfolio which came along with being accepted on the Atomic Swap exchange. Several community events, including the first Blockchain BBQ in Lichtenstein’s House of Blockchain and BlackSeaChain conference in Varna, Bulgaria – both of which will have Aeternity as sponsor/speaker – will be held in the following days. There is also a 4000 AE bounty created to “find a venue for a global, decentralized artwork project on a large urban scale, powered by the Aeternity blockchain.” Details of this bounty can be found here.