Aeternity is a distributed blockchain platform that features smart contracts for the creation and management of Decentralized Applications, [DApps]. In 2017 Aeternity held a successful Initial Coin Offering [ICO] for its Aeon [AE] token.
The Aeternity blockchain technology aims to deliver top notch efficiency, transparency governance and global scalability. It ensures scalability by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between parties involved in the contracts.
The network can interface with real data through a technology called oracles. Technically, this decentralized oracle machine is what distinguishes the Aeternity blockchain technology from other DApps and smart contract platforms. The machine brings data from outside sources for use in smart contracts. Also, it uses prediction markets for various voting and verification purposes within the platform.
An oracle is simply a method of getting data that exists off a blockchain to a blockchain, for example; getting the price of gold in dollars onto the Aeternity blockchain.
AE the Aeternity token
The AE coin is the underlying centre of Aeternity’s blockchain economy. The coin can not only be transferred between participants in the network but can also be used as a reward for mining efforts. The platform also allows any AE user can give their ideas or opinions concerning the coins future, this therefore allows for transparency on on-chain governance and increases the coin’s evolution pace.
Founded by Yanislav Malahow, the Aeternity platform has evolved tremendously over the last one year. Yesterday, the platform is giving users the opportunity to migrate their ERC-20 tokens, promising access to AE live-release token after its anticipated February 2019 hard fork. The platform has showcased video guidelines on YouTube to help users transfer their tokens smoothly.
Users can easily migrate by creating an Aeternity Wallet using the simplified version of the Base Aepp and then transferring the AE tokens to the migration smart contracts using MetaMask.
The ambitious Aeternity team comes up with strong development projects every day, each with an aim to improve on scalability. Despite the high level of competition in the smart contract protocol space, the blockchain platform remains unshaken and keeps working towards giving the best to the investors in the market.