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Review on Aeternity by Joeann Rosenburg
Features - A highly scalable blockchain architecture with a consensus…
Features
- A highly scalable blockchain architecture with a consensus mechanism which can be used for a global oracle machine implementation
- Increased privacy and scalability due to storing Turing-complete contract code in state channels rather than on-chain
- Aeon (similiar to Ether) are used as payment for any resources one consumes on the platform, as well as the basis for financial applications implemented on the platform
- Human-friendly adresses name system
- Applications markets for synthetic assets and prediction markets can be efficiently implemented at global scale
Pros
- Why is æternity so innovative? State Channels Smart contracts exist only inside off chain state channels. Just in case of disagreement the smart contract code gets enforced by the æternity blockchain.
Cons
- Decentralized Oracles An oracle machine connects public real world data with smart contracts. Oracles are categorically more powerful than Turing-complete computational models. Consensus Consensus is achieved via a novel hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithm. Unique Governance æternity implements a form of futarchy, where miners vote and value-holders bet to make decisions together. Privacy For many business applications it's crucial to have their transactions not recorded in public. Smart contracts touch the blockchain only in case of disagreement, acting like a self-arbitrating crypto court. Security State-of-the-art cryptographic datastructures and unparalleled decentralization provide efficiency and eliminate every single-point-of-failure.
