Review on Aeternity by Barbara Scholz

Name: Aeternity
Item: Aeternity
Rating: 4

September 20, 2018

Bitcoin uses Hashcash while Ethereum uses Ethash PoW. Aeternity will implement…

Bitcoin uses Hashcash while Ethereum uses Ethash PoW. Aeternity will implement Cuckoo Cycle, the first graph-theoretic Proof-of-Work (PoW), and the most memory bound, yet with instant verification. Cuckoo Cycles aim is make mining possible on normal hardware like laptops and mobile devices.
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Pros

Mining in case of big currencies like Bitcoin and Ethereum are limited to big whales only, who can afford expensive ASIC mining hardware. Aeternity opens his gates of mining for everyone by decentralizing mining, you can mine Aeternity on your laptop and even on your Smartphone.

Cons

The consensus is achieved by proof of work, while governance mechanism runs on proof of stake model that is based on prediction markets. Proof-of-Work (PoW) is corner stone of cryptocurrencies, it allows a verifier to check with negligible effort that a miner has expended a large amount of computational effort.