Review on Aeternity by Toprak Dere
ABOUT AETERNITY
Aeternity is a platform for decentralized apps (dApps) launched in the test network in 2017. This project focuses on increasing the scalability of smart contracts and applications.
Aeternity positions itself as a different form of Blockchain technology that can offer "unmatched efficiency, transparent management, and global scalability." All this will be accomplished by providing scalable smart contracts that can interface with any real-world data.
The project performs scaling by excluding smart contracts from the chain. Smart contracts in Aeternity work on private channels between the parties involved in the contracts, instead of running on the Blockchain.
Aeternity on paper; IoT, fintech, gaming, unbanked individuals, etc. suitable for. While all this sounds very ambitious, there seems to be enough technology to make it all happen.
First of all, the smart contracts offered by Aeternity are only within off-chain channels. Transaction channels are critical to the success of this initiative, as they are a reliable solution to exchange value with other parties around the world.
While there is an increasing demand for smart contract technology on a global scale, it remains to be seen whether Aeternity can make a meaningful impact on this issue.
Aeternity also has other features that set it apart from other smart contract and application platforms. Specifically, it includes a decentralized oracle machine that collects data from external sources for use in smart contracts.
Pros
- Transaction fees low
- fast platform for developing multiple applications.
Cons
- poor marketing
