Introduction to the Æternity blockchain project

Æternity is a new blockchain project aiming to facilitate large volumes of smart-contracts which can interface with external data sources. This is accomplished using a decentralised oracle based on prediction markets.

By John Mathews
Category: Disintermediation
May 05 2017

These are my notes on the æternity blockchain project, I’m not affiliated with the æternity team.

Æternity is a new blockchain project that is pre-launch. The headline goal is to securely facilitate large volumes of smart-contracts which interface with external data sources. This is made possible via a decentralised oracle based on prediction markets. These terms are explained below. The æternity project has proposed several notable technical features:

Smart Contracts in state-channels

This is because executing the smart-contracts off-chain makes them private and the code used to execute the smart contract won’t need to be broadcast to the primary blockchain. This should increase processing capacity by allowing contracts to execute in parallel.

Disadvantages to the state-channel approach include reduced transparency, as running smart contracts in state channels requires more trust in both the contract creator and the node running it.

Oracles and prediction markets

Governance by prediction markets

Written in Erlang

Different types of node

Sharding


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