Aeternity Coin Review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Aeternity Coin.
The purpose of off-chain transactions is to not overburden the main blockchain. When too many transactions need to be posted on the blockchain, confirmation times slow down and transactions don’t get processed right away. By settling some transactions off-chain, this retains security while maintaining speed.
Other technologies working on off-chain transactions include Lightning Network and Raiden Network.
The main goal with respect to the function of the Aeternity smart contracts is to be able to execute code on the chain. With this, we mean code execution verified by a miner and which can alter the state of the relevant chain.
The Aeternity smart contracts also have the following non-functional goals (more like company visions) in the following chronological order:
- Execution of contracts should be secure.
- Execution of contracts should also be efficient and possible to scale.
- Moreover, execution of contracts should be inexpensive.
- Finally, there should be an easy way to achieve migration from Ethereum smart contracts.
The founder of Aeternity worked with Ethereum founder Vitalik Buterin on another project called Keidom (now ascribe.io), which was a web wallet for registering and transferring digital art.
- Nano payments and micro payments
- Smart-contracts using Oracles to initiate millions of parallel transactions
- Side-chain blockchain networks that can communicate efficiently and securely
- Multiplayer video games where the rules are enforced by the blockchain: poker, chess, Go, first person shooter games
- Contracts for powering the crowdsales to finance public goods and create a sustainable economy
- Prediction markets and oracles
- Introduced new smart contract language and VMs for faster and safer code execution.
- By providing a version of the EVM, it is easy to migrate the EVM contracts to Aeternity.
We have not identified any obvious cons with the Aeternity Coin.
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