[ANN] æternity blockchain ∞ AE TOKEN ∞ [PoW & PoS | Oracles | Smart Contracts]

[aeternity]

INTRO

æternity is a new blockchain - designed for fast and secure smart contracts interfacing with real-world data via a decentralized oracle. Scalability is achieved by using (trustless) Turing-complete state channels, a major difference to Ethereum. This way the smart contracts also become easier to analyze and more secure. The interface to real-world data is done via an innovative oracle design, which is based on prediction markets. State channels increase scalability since all transactions become independent and can thus be processed in parallel. Additionally, this means that contracts never write to shared state, greatly simplifying their testing and verification. æternity will be powered by the æternity token - AE symbol. æternity tokens are used as payment for any resources one consumes on the platform, as well as the basis for applications implemented on the platform. The distribution of æternity token [AE] in the genesis block will be determined by a smart contract hosted on Ethereum. æternity tokens will be managed by accounts which will have an address and balance, implemented alongside a alias (naming) system which will support human-friendly names mapped to an aeternity address. æternity identities are essentially a triple of (pubkey, hash, name). Pubkey from the account, name from the alias and hash linking to further data, e.g. on IPFS. Contribution campaign starts April 3rd, 13:05 GMT and will last for 3 days - until April 6th, 13:05 GMT. More details here. ÆTERNITY BLOCKCHAIN READ SCIENTIFIC WHITEPAPER

CONSENSUS AND GOVERNANCE

• Hybrid Proof-of-Work Proof-of-Stake blockchain • Consensus achieved by PoW mining   • Algo: 'Cuckoo Cycle' by Tromp: GITHUB WHITEPAPER BLOG   • Minable with even with smart phones achieving highest possible decentralization • Governance via PoS prediction markets   • Prediction markets are proven to very good tools to destill information out of a crowd of people. Better then simple voting! TRANSACTION SPEED ESTIMATES •  Trustless off-chain transaction speed: infinite and only limited by the speed of light as these transactions are inside state channels •  On-chain transaction speed: We define following variables for the following calculations: B = block size in bytes F = blocks till finality R = time till finality in seconds T = transaction size in bytes The variables that define the protocol are all constantly being updated by the consensus/governance. From their initial default values, we can calculate the initial default rate of transactions per second. Transactions per second = B  F / (T  R) B = 1000000 bytes = 1 megabyte per block R / F = 30 seconds per block R = 243600 seconds per day F = 2460*2 blocks per day T = 1000 bytes per transaction 1000000 ∗ 24 ∗ 60 ∗ 2/1000/24 ∗ 3600 = 1000000 / 1000 / 30 = about 32 on-chain transactions per second, which would be fast enough to sign up every human with state channel technology within 8 years. These variables will be determined by token holders (PoS Governance). For further details read the æternity blockchain whitepaper: Sec. E(4): Transactions per second at a given memory requirements

STATE CHANNELS

æternity’s blockchain leverages state channels which makes smart contracts faster, more secure and more private. First, two users open up a state channel via depositing some AE tokens into it. They can agree to arbitrary smart contracts. This allows for transactions to be conducted as fast as information can be transmitted and processed by the parties, instead of them having to wait until the transaction has been validated—and potentially finalized— by the blockchain’s consensus mechanism. This æternity blockchain is used to settle the final outcome or to resolve conflicts that arise. It’s decisions are foreseeable, thereby ruling out malicious activity between parties who try to erode the state channels to which they’ve written and previously agreed to. The transfer of æon is the only effect channels can have on the blockchain, only those æon that have been deposited into the state channel can be transferred. This makes all channels independent from each other, which has the immediate benefit that any transactions related to channels can be processed in parallel, greatly improving transaction throughput.

SMART CONTRACTS

æternity uses a Turing-complete (new) virtual machine with MAST (Merkelized Abstract Syntax Trees) to process smart contracts. Within æternity, smart contracts are pure functions in the form of financial agreements that distribute funds according to predetermined rules. MAST enables that, in case a smart contract needs to be enforced by the blockchain, only the relevant part of the smart contract needs to be published, achieving again higher scalability and confidentiality. Only the involved parties know about the contract Only parties that have an open state channel can create a valid contract Every state change or code update gets signed by both counterparties of the contract It is only submitted to the blockchain if its outcome is disputed, in which case the code is only ever stored as part of the submitted transaction, never in any other state. If this happens, the blockchain distributes the tokens according to the contract and closes the channel.

IMPLEMENTATION

æternity core blockchain code is written in Erlang, which makes it easy to write distributed, fault-tolerant, soft real-time, highly available, non-stop applications. Erlang is the perfect language to write a blockchain from scratch and by using it, we achieve a superior operational stability and performance.

WEB AND MOBILE INTEGRATION

æternity is 'mobile first', which is true because of the convergence of mobile and web technologies and new mining algo which is even efficiently minable on smart phones. A Javascript library and REST APIs for engaging with the core blockchain will make the integration into existing web/mobile apps or services easier. ReactJS will be the framework of choice two write reusable modules in, for the UI. These modules can easily be reused on the web, as well as on mobile, and even compile down to native apps on mobile, becoming more snappy. Also an Ethereum and Bitcoin bridge via Cosmos/Polkadot is planned.

ROADMAP

THE TEAM

Constantly adding team members, check out website and blog for the most recent information.

GET IN TOUCH

                                   

We are also on QQ, wechat, IRC and more... Join us now and help build the future together.

[jwiz168]

any bounty? please reserve for Filipino translation thanks.

[kurniajim]

Please, reserved indonesian translate

Thanks

[ocminer]

I do Greek ^^

[Belligerent Fool]

Development Roadmap
Development - Q1 - Q3 2017
Test net launch - Q2 2017
Security Audit: Q4 2017
Launch of 1st app - date tba
Main net launch - Q1 2018

Everyone has to wait until 2018 for this coin to launch WTF and I thought Etherum was bad, if you have tested your coin and decided to make an announcement then why do you have to start developing or are you just thinking up ideas without actually developing them with trial and error before saying " Hey guys I'm making a new coin, want to be part of it" LMFAO

[Frank Lefty Rosenthal]

Id like to know if its possible this be done as a ICO. I dont have any mining machines to mine it.

Frank Lefty Rosenthal Signing Out.

[dfox101]

Development Roadmap
Development - Q1 - Q3 2017
Test net launch - Q2 2017
Security Audit: Q4 2017
Launch of 1st app - date tba
Main net launch - Q1 2018

Everyone has to wait until 2018 for this coin to launch WTF and I thought Etherum was bad, if you have tested your coin and decided to make an announcement then why do you have to start developing or are you just thinking up ideas without actually developing them with trial and error before saying " Hey guys I'm making a new coin, want to be part of it" LMFAO

Possible an ICO, and by 2018 all ICO fund will be spent and the devs will disappear, lol, a nice scheme.

All those are high level blah blah, any concrete parts being implemented and working?

and, of course, it is a coin launched by a newbie, what a credibility!

[ShooterXD]

Well, this team looks so good.
The project looks promissor and if the team work hard on this, this will be great.
If you need a portuguese translation, just pm me to discuss about this.

Have a good new year!

[Frank Lefty Rosenthal]

Development Roadmap
Development - Q1 - Q3 2017
Test net launch - Q2 2017
Security Audit: Q4 2017
Launch of 1st app - date tba
Main net launch - Q1 2018

Everyone has to wait until 2018 for this coin to launch WTF and I thought Etherum was bad, if you have tested your coin and decided to make an announcement then why do you have to start developing or are you just thinking up ideas without actually developing them with trial and error before saying " Hey guys I'm making a new coin, want to be part of it" LMFAO

Possible an ICO, and by 2018 all ICO fund will be spent and the devs will disappear, lol, a nice scheme.

All those are high level blah blah, any concrete parts being implemented and working?

and, of course, it is a coin launched by a newbie, what a credibility!

If they use escrow it could be safe, we need to know if escrow will be provided.

Frank Lefty Rosenthal Signing Out.

[CryptoSporidium]

There's already a coin named 'aeon', a cryptonote one

[john1010]

Interested, Reserve for Philippines.. 

[jwinterm]

There's already a coin named 'aeon', a cryptonote one

Don't worry, it's probably just ICO vaporware scam, but yea, there's already a coin called aeon with ticker aeon.

[Frank Lefty Rosenthal]

There's already a coin named 'aeon', a cryptonote one

Don't worry, it's probably just ICO vaporware scam, but yea, there's already a coin called aeon with ticker aeon.

I still want to know if there will be an escrow and who will it be.

Frank Lefty Rosenthal Signing Out.

[fikihafana]

any other bounty?

[memequiserle]

any other bounty?

bounty wait very long time
this OP write project is launch 2018
so ico selling and all bounty can release in 2018

Development Roadmap
Development - Q1 - Q3 2017
Test net launch - Q2 2017
Security Audit: Q4 2017
Launch of 1st app - date tba
Main net launch - Q1 2018

[bittrojan]

I do Greek ^^

Like in the back door? Greek?

[yeniruieni]

Any bounty for local translation??? i would to reserve indonesian translation sir
thank you

[cyberspacemonkey]

That roadmap looks way too far in the future for me too lol a lot shit can happen until then 

[Mercurius777]

Development Roadmap
Development - Q1 - Q3 2017
Test net launch - Q2 2017
Security Audit: Q4 2017
Launch of 1st app - date tba
Main net launch - Q1 2018

Everyone has to wait until 2018 for this coin to launch WTF and I thought Etherum was bad, if you have tested your coin and decided to make an announcement then why do you have to start developing or are you just thinking up ideas without actually developing them with trial and error before saying " Hey guys I'm making a new coin, want to be part of it" LMFAO

Possible an ICO, and by 2018 all ICO fund will be spent and the devs will disappear, lol, a nice scheme.

All those are high level blah blah, any concrete parts being implemented and working?

and, of course, it is a coin launched by a newbie, what a credibility!

the word ICO is not even once mentioned in the post and the unreflected, simple minded, one dimensional ICO hate is already blooming.
Why not wait for more information or look at the whitepaper before spilling hate?

[klidex]

watching this thread