Sirwin
Sirwin

Introduction to æternity and your chance to win a Nano Ledger s!

By 0xJonnyDee | My Technical Analysis | 17 Jul 2019


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æternity is a new blockchain technology, designed to deliver unmatched efficiency, transparent governance and global scalability. Currently they are ranked in the top 80 tokens on CoinMarketCap.

 

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æternity’s blockchain focuses on increasing scalability of smart contract and DApps by moving smart contracts off-chain in private state channels between parties. More notably, the blockchain is supported by a decentralized oracle machine connecting data from outside sources for usage in the smart contract. In addition to usage of prediction markets for various voting and verification purposes, these main features is where æternity (AE) stand out from the like of other blockchain platforms. 

 

So how does it work?

State Channels: 

Known as their State Channel solution (communication between parties in a smart contract) AE allows the communication off chain and only connects to the blockchain for actions of adjudication or transfer of value.

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This is effective compared to other chains for two main reasons. Firstly, they don’t need to pay the network every time these parties compute. In addition to better privacy, the two parties in the contract only need to see the contract’s information. This brings higher scalability and privacy to the network users. 

 

Oracle Machine 

AE’s Oracle machine really has them standout and here is why. An oracle provides outside data to the blockchain, more specifically to the smart contracts. By having the oracle move data to AE’s blockchain, the data set becomes unchangeable and immutable within the contract. The oracle in fact collects centralized data and moves it to a decentralized system.  

 

In recent news, their incubation project know as æternity Ventures has partnered up with Crowdholding, A crypto micro task platform that has over 40,000 signups and 120 projects already listed on their working platform. The focus of the partnership is to support the development of the blockchain projects æternity Ventures invested in with regards to their businesses fit.

 

Because of this exciting news, æternity has launched their first task on Crowdholding, where you can earn crypto for giving feedback. On top of the fact that you can earn both Crowdholding's YUP and æternity's AE, the top five comments will receive a AE branded Nano Ledger S! To take part in this competition, follow the instructions below - 

 

1- Visit Crowdholding and the task via this link - https://www.crowdholding.com/project/388/task/1011/introducing-ternity-ae

2- Sign up to Crowdholding and create an account through your Facebook or Gmail. It is free and takes 10 seconds.

3- Follow the instructions on the micro task to participate. 

 

I hope you enjoyed the read and if you liked the content, follow me and don't forget to tip the article! I will be writing about interesting projects in the foreseeable future. 

 

Until next time crypto lovers, stay classy!

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0xJonnyDee
0xJonnyDee

A Crypto Marketing Wizard with over 7 years experience. Former Marketing Manager at CoinMarketCap. Feel free to get in connect with / content me on - Twitter - https://twitter.com/0xJonnyDee


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