Review on Aeternity by Quan Lieu

Name: Aeternity
Item: Aeternity
Rating: 4

September 20, 2018

æternity’s blockchain leverages state channels which makes smart contracts…

æternity’s blockchain leverages state channels which makes smart contracts faster, more secure and more private.
First, two users open up a state channel via depositing some AE tokens into it.
They can agree to arbitrary smart contracts. This allows for transactions to be conducted as fast as information can be
transmitted and processed by the parties, instead of them having to wait until the transaction has been validated—and potentially 
finalized— by the blockchain’s consensus mechanism.
This æternity blockchain is used to settle the final outcome or to resolve conflicts that arise.
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Pros

æternity tokens are used as payment for any resources one consumes on the platform, as well as the basis for applications implemented on the platform.The distribution of æternity token [AE] in the genesis block will be determined by a smart contract hosted on Ethereum. æternity tokens will be managed by accounts which will have an address and balance, implemented alongside a alias (naming) system which will support human-friendly names mapped to an aeternity address. æternity is a new blockchain - designed for fast and secure smart contracts interfacing with real-world data via a decentralized oracle. Scalability is achieved by using (trustless) Turing-complete state channels, a major difference to Ethereum. This way the smart contracts also become easier to analyze and more secure. The interface to real-world data is done via an innovative oracle design, which is based on prediction markets. State channels increase scalability since all transactions become independent and can thus be processed in parallel. Additionally, this means that contracts never write to shared state, greatly simplifying their testing and verification.æternity will be powered by the æternity token - AE symbol.

Cons

æternity tokens will be managed by accounts which will have an address and balance, implemented alongside a alias (naming) system which will support human-friendly names mapped to an aeternity address.