Review on Aeternity by Pedro O. Alvino M.
Another project that focuses on the development of smart contracts and dapps
Since the launch of Ethereum in 2015, there has been no lack of speculation or enthusiasm regarding the possible uses of smart contract technology since an innumerable amount of projects are based on smart contracts presenting an alternative to Ethereum. However, the world's leading smart contract platform and the second largest cryptocurrency are not without shortcomings, ranging from lack of scalability to the need to find an efficient way to integrate real-world information into the blockchain. ; and it is these problems that Aeternity intends to solve.
To improve scalability, Aeternity moves smart contracts out of the chain, executing them in private channels. This minimizes the amount of data in the chain and frees network resources.
Pros
- It presents an alternative of smart contracts and decentralized applications outside the chain with high scalability.
- It is in the top 100 of cryptocurrencies by market capitalization.
- includes a decentralized oracle
- Aeternity uses a hybrid mechanism of proof of work and proof of participation.
Cons
- Wide variety of competition in the current market.
