1 Level
6 Review
3 Karma
Review on Aeternity by Shannon Mahmood
Security State-of-the-art cryptographic data structures and unparalleled…
Security
State-of-the-art cryptographic data structures and unparalleled decentralization provide robust efficiency and eliminate "single point of failure" (SPOF) issues.
Pros
- Decentralised Oracles are trusted data sources on the network that connect real-world data to the blockchain through smart contracts. This enables the tracking of real-life events such as stock markets, weather, marketing surveys, and scientific findings in real time to be updated to the network and established as an evolving trustless history. Other smart contract networks such as Ethereum rely on external centralised oracles whilst Aeternity’s is native and distributed.
Cons
- A Proof of Work (POW) consensus mechanism is used to build the Aeternity blockchain with the ‘Cuckoo cycle’ algorithm. Cuckoo cycle is designed specifically for RAM (random-access memory) systems and is resistant to the expensive ASIC (application-specific integrated circuit) mining equipment that is easily dominated by corporate mining pools. With the use of Cuckoo, mining is very energy efficient and mining is more egalitarian and accessible to the widest possible population of miners.
