What Is Aeternity (AE)?

What Is Aeternity (AE)? Complete Guide Review About Aeternity.

What Is Aeternity (AE)?

Engineered to scale and last, Aeternity is an easily accessible blockchain platform for the global public. With numerous innovative functionalities and performance far ahead of earlier blockchains, æternity allows its users and community to seamlessly venture into the new era of society, economy, and digital interactions. Founded in 2016 by Yanislav Malahov, the AE blockchain project was born out of a desire for a more fair Internet supported by scalable, open-source and cryptographic software, with a commitment to technical excellence. AE blockchain itself launched as the public AE main net in 2018.

It is now a blossoming community of enthusiasts supported via the AE crypto foundation. In a nutshell powerful, scalable and secure at virtually every level. And it’s going to get even better with Hyper chains and other powerful features coming soon. Learn more about it here or read the whitepaper.

Aeternity Storage Key Points

Coin BasicInformation
Coin NameAeternity
Short NameAE
Circulating Supply353,004,614.50 AE
Total Supply398,828,594
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

What sets æternity apart

At its core, Aeternity is a blockchain protocol and a smart contract platform that goes beyond what traditional blockchains do. It is designed to be fault-tolerant and perfect for cases with billions of transactions in DEFI and more. On AE, Oracles are managed by special types of transactions. They can be programmed to request and provide data from information providers and APIs, empowering your blockchain apps with real world data. Having Oracles available on-chain improves security, reduces cost and eliminates the need for third-party solutions.

Hyperchains (coming soon)

With the AE Hyperchains consensus upgrade (coming soon via governance) AE main net will be able to scale further on-chain as well as allow everyone to launch their own private (or public) æternity-style side chain without asking anyone for permission. Hyper chains consensus will piggyback on the PoW of the Bitcoin blockchain to create a secure tamper proof random number to secure each hyper chain.

Very low Transaction fees

Aeternity is equipped with native transaction types for managing State Channels, Oracles, and Names, among others. They are all optimied in terms of gas costs.Transactions and Smart Contract executions in State Channels don’t incur any fees. Since all Smart Contracts are executed in the highly efficient FATE VM, less gas is needed overall. A FATE contract is only 10% of the size of an EVM contract. While by default all on-chain transactions are public on æ mainnet with state-channels private transactions are possible. With the new Hyper chains upgrade private AE-style chains (e.g. for consortiums) will become real.

Advanced State Channel Technology

State channels make it possible to execute smart contracts off-chain. The blockchain enforces the smart contract code only in the case of a disagreement between the contracting parties. Unlike most blockchains, AE core protocol was re-engineered specifically so it can accommodate state channels on the protocol and smart contract language level, making it easier to build applications for global-scale use cases requiring huge numbers of instant and private transactions without compromising on the security of a public blockchain.

Faster Safe Code

The Fast AE Transaction Engine, or FATE VM, uses a higher level of abstraction and automatically minimizes error with type checking, delivering a simpler, easier, safer programming environment. The æternity smart contract programming is unique. Sophia is a typed functional programming language in the ML family that makes it easier to write correct programs via minimizing side-effects and the usage of formal methods for verification.

Being part of the protocol the AE Naming System (ÆNS) uses human-meaningful names (NFTs) instead of cryptic addresses for accounts, making blockchain technology more accessible, less prone to errors, and human-friendly.Register your dot chain name today with the Superhero wallet.