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Aeternity

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Description

What does Aetnernity crypto do?

Aeternity is a decentralized platform that focuses on smart contract scalability. The project also includes oracles which can transmit real-world data instantaneously to dApps.

Aeternity’s solution to scalability is to have smart contracts operate off-chain rather than directly on the main chain. Smart contracts are run in “state channels”, which are private lines of communication between two parties involved in a smart contract. There are no fees associated with these transactions.

Aeternity launched with a token sale on the Ethereum blockchain under the name Aeon. The Aeon tokens were known as AEON, but now AE coin is the native coin of the Aeternity blockchain. When the mainnet launches, users can swap the ERC-20 AEON tokens for AE at a 1:1 ratio. AEON tokens will be burned.

What is AE coin used for?

AE has many uses. Aeternity uses both PoW and PoS consensus mechanisms. Miners are rewarded for participating in PoW, which helps verify transactions.

Users can also stake their AE coins and get rewarded. PoS is responsible for establishing governance. This means that users can also use coins to vote towards development proposals to the network.

Lastly, AE is used to pay for transaction fees and as gas to run smart contracts.

How can AE coin appreciate in value?

As a platform that uses oracles to inform its dApps in real time, Aeternity’s potential to grow is immense. If Aeternity becomes the main solution for oracle inputs and scalability, it can have viable use cases in many different markets. The project has the potential to disrupt an aggregate multi-trillion industry which includes enterprise, mobile, and desktop applications for virtually all industries. With wide adoption, AE coin’s value has plenty of room for appreciation.

What are the differences between Aeternity and its competitors?

Some of Aeternity’s largest competitors are Ethereum, EOS and Zilliqa. Ethereum and EOS have launched mainnets and have dApps running and in production. This means that they are ahead of the game with first-mover advantages.

Aeternity’s off-chain solutions may theoretically scale better than sharding, but it also seems that less consensus is required compared to platforms where many nodes need to agree on transactions. Aeternity has good theory, but until its mainnet launches, its potential is hypothetical.

  • Mainnet Launch: August 2018
  • Open Source: Yes
  • Consensus Type: Hybrid Proof of Work & Proof of Stake
  • Total Coin Supply: There is no max supply. Currently the total supply is 273,685,830 AE
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Description

What does Aetnernity crypto do?

Aeternity is a decentralized platform that focuses on smart contract scalability. The project also includes oracles which can transmit real-world data instantaneously to dApps.

Aeternity’s solution to scalability is to have smart contracts operate off-chain rather than directly on the main chain. Smart contracts are run in “state channels”, which are private lines of communication between two parties involved in a smart contract. There are no fees associated with these transactions.

Aeternity launched with a token sale on the Ethereum blockchain under the name Aeon. The Aeon tokens were known as AEON, but now AE coin is the native coin of the Aeternity blockchain. When the mainnet launches, users can swap the ERC-20 AEON tokens for AE at a 1:1 ratio. AEON tokens will be burned.

What is AE coin used for?

AE has many uses. Aeternity uses both PoW and PoS consensus mechanisms. Miners are rewarded for participating in PoW, which helps verify transactions.

Users can also stake their AE coins and get rewarded. PoS is responsible for establishing governance. This means that users can also use coins to vote towards development proposals to the network.

Lastly, AE is used to pay for transaction fees and as gas to run smart contracts.

How can AE coin appreciate in value?

As a platform that uses oracles to inform its dApps in real time, Aeternity’s potential to grow is immense. If Aeternity becomes the main solution for oracle inputs and scalability, it can have viable use cases in many different markets. The project has the potential to disrupt an aggregate multi-trillion industry which includes enterprise, mobile, and desktop applications for virtually all industries. With wide adoption, AE coin’s value has plenty of room for appreciation.

What are the differences between Aeternity and its competitors?

Some of Aeternity’s largest competitors are Ethereum, EOS and Zilliqa. Ethereum and EOS have launched mainnets and have dApps running and in production. This means that they are ahead of the game with first-mover advantages.

Aeternity’s off-chain solutions may theoretically scale better than sharding, but it also seems that less consensus is required compared to platforms where many nodes need to agree on transactions. Aeternity has good theory, but until its mainnet launches, its potential is hypothetical.

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