Review on Aeternity by Ignacio Villegas
Aeternity a great project for smart contracts focused on ERC-20 tokens.
Aeternity is one of the new platform that can be used for decentralized applications (dapps) where the main objective of this platform is to exponentially increase the scalability of smart contracts and decentralized applications, the launch of this platform was carried out by Testnet in the year 2017. The function of Aeternity is to move contracts out of the blockchain chain which means that smart contracts cannot be executed on the blockchain but, instead, they execute in private States Channels between the parties involved in them. In addition to this feature, Aeternity has within the programming a decentralized oracle machine that provides data from external sources to be used in smart contracts. Additionally, it uses forecast markets for various voting and verification purposes within the platform.
Pros
- Despite its short time in the market, Aeternity has had a great acceptance and has been placed among the 40 most important projects worldwide.
- Aeternity's decentralized apps are called (aepps).
- It is a cryptocurrency that adds to the ERC-20 token list
- Being an ERC-20 toker, it can be stored in any wallet with ERC-20 support.
- The token is necessary to pay the different network fees, and the Smart Contracts will also be settled with AE.
- Aeternity offers a unique governance system where consensus is achieved through a water system called Proof-of-work (PoW) and a Proof-os-stake (PoS) algorithm.
Cons
- The market where this cryptocurrency is introduced has a lot of competition.
