Review on Aeternity by Clara Upton

Name: Aeternity
Item: Aeternity
Rating: 5

September 20, 2018

Aeternity has a strong backing, but it’s still in very early stages of…

Aeternity has a strong backing, but it’s still in very early stages of development. A strong team is in place that shows every indication it can overcome the obstacles to sustain relevance over the next decade, but its success hinges on these key factors:
Aeternity is still in development as of May 5, 2018, and even after launch, it’ll be at least a year before really stellar dapps are in place on the blockchain.
Aeternity resolves many key issues with vanilla Ethereum. However, its early release gave Ethereum leverage to develop the Plasma layer to resolve scalability issues.
Aeternity supports sidechains and has a focus on both mobile and decentralization. This is achieved by moving mining to DRAM instead of GPU or CPU.
Aeternity oracles provide checks and balances with a hybrid-proof predictive model. It’s deeply invested in creating and supporting a development community on its blockchain and won’t reach its full potential for another 2-5 years.
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Pros

Uses a hybrid Proof-of-Work and Proof-of-Stake consensus mechanism. Consensus mechanism features a decentralized oracle. Transaction speed: About 32 transactions per second. Block size: 1 megabyte. Can be changed by user consensus. Core blockchain code: Written in industry-grade programming language Erlang Smart-contracts: Written in Chalang (almost identical to Ethereum smart-contracts language) Smart-contract state: Off-chain Transactions: Executed primarily off-chain. Settlement on-chain after channel is closed

Cons

This means all trading thus far of the Aeon coin is based purely on the white paper, tech specs, and company goals rather than concrete achievements. It’s a pure ICO, and the team basically crowdfunded its development. The underlying technology that backs up the digital currency does have several key differences from Ethereum and NEO (though they’re quickly being addressed) and it’s so far a more finished product than your average ICO.