Aeternity is a scalable blockchain platform that allows increasing the speed of transactions, also includes functional smart contracts and decentralized oracles. The goal of the project is to increase the scalability of smart contracts and DApps. This is achieved due to the fact that smart contracts are carried out beyond the boundaries of the blockchain and executed in private state channels, and only participants of the same contracts have access to them. The concept is similar to the Lightning Network technology used to scale up transactions.
Similarly, Aeternity creates an add-on over the standard blockchain, which will significantly increase the throughput in the processing of smart contracts. The Aeternity development team, using an innovative approach to storing Turing complete contract code in state channels, was able to facilitate the analysis and reduce the processing time of a smart contract. This technology improves scalability because all transactions become independent and can be processed simultaneously. Aeternity uses the Turing virtual machine with MAST (Merklized Abstract Syntax Trees) to process smart contracts. In Aeternity, smart contracts are represented by simple functions in the form of financial agreements that distribute funds in accordance with established rules. MAST allows you to secure in the blockchain only that part of the smart contract that is necessary to enable its work, which makes it possible to increase scalability and privacy.
Users need Aeternity (AE) coins to work with the Aeternity blockchain. In addition, platform-based financial applications are based on the AE coin. All commissions and settlements in smart contracts are carried out in AE coins.
The founder of the Aeternity project is an Ethereum co-developer, Yanislav Malahov, who started in 2013 developing algorithms for blockchains.
Marion Vogel, who used to work in the field of marketing and business development in Silicon Valley, is the Director of Aeternity.
In addition, the development team includes people who helped to develop the Augur project. In 2017 the successful ICO of the Aeternity coin (AE) was held. 24 million dollars were raised.
The project was started as an ERC-20 token to facilitate the round of ICO funding, but it became a fully implemented blockchain when the network was launched in mid-2018. Each step was followed by a planned blockchain hard fork that carried coins and introduced improvements and new features. For transparency of this migration process, developers provided a special smart contract.
Due to the fact that this coin has many advantages, buying an AE coin may be a pretty good decision. On the SimpleSwap platform, you can get Aeternity in several steps:
Congratulations! Now when you have AE coins, you can use them on the Aeternity platform or keep them in your portfolio for trading.