Review on Aeternity by francis fernandez
Aeternity: State Channels Revolutionizing Blockchain!
Aeternity is an operating system that serves as the basis for the development of fully decentralized applications.
What does Aeternity offer the blockchain network again?
* Aeternity is a platform that uses its blockchain to create only decentralized applications; In other words, they have the ability to store data outside of the Aeternity blockchain. This prevents information overload on your blockchain. This makes the platform and its related applications faster.
* It operates under an infrastructure of "state channels" used so that the blockchain is only executed for the registration of exchanges and operations; since smart contracts (data and resources) are stored in those channels and not in the Aeternity blockchain. This increases the work capacity of the network without compromising the quality of its operation. That is, it improves its scalability.
* It has in its design a mixed consensus mechanism that combines the Proof of Work (Pow) and Proof of Ownership (PoS). This gives you flexibility when adapting to changes.
* The fees for your transactions are low cost; due to the use of “state channel” technology.
* Used to run small portions of multi-giga smart contracts; as these contracts are on parallel platforms outside of the Aeternity blockchain.
* The contracts are cheaper since they are saved in the state channels and not in the blockchain.
* The speed of this platform allows the creation of multiple applications in various fields, such as: Instant rewards for video games, market predictions, financial transactions with a large number of parameters, fair smart contracts with return on investment, parallel functionality networks and recently a platform for tips in digital currencies, among others.
* Aeternity's cryptocurrency is known as Aeon (AE) and is continually climbing positions, just like its AE Token.
Pros
- The volume of smart contracts is unlimited in size (giga).
- Transaction fees are low cost.
- It is an extremely fast platform; therefore it is ideal for developing multiple applications.
- It is adaptable to changes since it is a flexible platform in terms of its infrastructure
- Supports the decentralization of applications; which contributes to its speed and optimal operation and scalability.
Cons
- Many of its utilities are still under development.
