Review on Aeternity by Paige Rose

Name: Aeternity
Item: Aeternity
Rating: 4

September 19, 2018

Up to now, however, separating functional and stateful demands is an important…

Up to now, however, separating functional and stateful demands is an important trend in smart contract scalability. Functional programs are easier to scale.
Aeternity’s smart contracts run in a language called Chalang that compiles to bytecode. In the future, Aeternity wants to be as developer friendly as possible. Therefore, they’re planning on creating JS libraries and JSON APIs for web development.
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Pros

Yanislav Malahov, founder of Aeternity, has been working in crypto a long time and was an associate of Vitalik Buterin since before Ethereum. He claims a conversation he had with Vitalik sparked the idea for Ethereum, and he is therefore known as the “Godfather of Ethereum.” Malahov was not involved in Ethereum’s development, but he has worked on many crypto projects before and since. Since the token sale, Aeternity has grown from a small team into a large project. You can see the many team members and read their bios on Aeternity’s website.

Cons

Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.