View source for Aeternity (AE)

== Basics ==
* Started in: [https://medium.com/on-the-origin-of-smart-contract-platforms/on-the-origin-of-%C3%A6ternity-99c6fde78d13 late 2016] 
* Based in: Liechtenstein
* Platform, [[Decentralized Applications (DApps)|decentralized apps]] (prototype)
* [[Oracles]]
* Scalable [[Smart Contract|smart contracts]] interfacing with real world data.
== History ==

* From this [https://medium.com/on-the-origin-of-smart-contract-platforms/on-the-origin-of-%C3%A6ternity-99c6fde78d13 article] (13-7-2018):

''"The æternity project was founded in Liechtenstein in late 2016 by Yanislav Malahov. Malahov had been working to build more generalized functionality on top of [[Bitcoin]] for many years, having, in 2013, [https://medium.com/@yanislav/king-of-bitcoin-godfather-of-ethereum-a9af9ecf56d5 collaborated] with a teenage [[Vitalik Buterin]] on the colored coins-based Keidom project, now known as [https://www.ascribe.io/ ascribe.io]. In January 2017 Malahov and coauthors [[Zack Hess]] and [[Jack Peterson|Jack Petterson]] published the [https://aeternity.com/aeternity-blockchain-whitepaper.pdf original] æternity [[Whitepaper|white paper]], which describes some of the early goals and ideas for the project (though much has since changed).''

''In the second half of 2017, two coauthors of the original white paper, lead developer Hess and smart contract language guru Petterson, left the æternity project. A [https://github.com/aeternity/aeternity-reimagined#aeternity-reimagined second white paper] titled “æternity Reimagined” was started by then CTO Joel Reymont, but was [https://github.com/aeternity/aeternity-reimagined/commits/master soon abandoned] when Reymont [https://twitter.com/wagerlabs/status/934016729252007936 also left the project] in November 2017. Despite these setbacks, æternity managed to launch its [https://github.com/aeternity/epoch Epoch] [[testnet]] in Dec 2017 and has continuously been updating the testnet with [https://www.pivotaltracker.com/n/projects/2124891 new features] since. A full-featured mainnet launch is currently [https://aeternity.com/#roadmap scheduled for August 2018.]''

''In May 2018 æternity [https://bitcoinmagazine.com/articles/%C3%A6ternity-launches-starfleet-incubator-blockchain-innovation announced] the launch of [https://www.aeternity-ventures.com/#services æternity Starfleet], a project incubator providing resources and support to blockchain projects that will likely be building applications on the æternity platform. Shortly thereafter æternity released a [https://medium.com/@aeventures/%C3%A6ternity-starfleet-the-amazing-teams-we-have-selected-vol-2-b9b226607ab5 two part] list of 17 projects selected for participation in the first wave of Starfleet incubation. Many of these projects are based in Sofia Bulgaria, where Starfleet’s cooperating partners [https://www.aeternity-ventures.co/ æternity Ventures] and [https://softuni.bg/ Software University] are based."''

== Token ==
=== Launch ===

* From this [https://medium.com/on-the-origin-of-smart-contract-platforms/on-the-origin-of-%C3%A6ternity-99c6fde78d13 article] (13-7-2018):

''"From April to June 2017 æternity ran a successful [[Initial Coin Offering (ICO)|token sale]] raising 224,750 [[Ethereum (ETH)|ETH]] and 1456 [[Bitcoin (BTC)|BTC]] (worth roughly 50 million USD at the time of completion). Just weeks later æternity had the misfortune of being one of three [[Wallet|wallets]] drained by an attacker exploiting a [http://hackingdistributed.com/2017/07/22/deep-dive-parity-bug vulnerability] in the [[Parity]] Multisig wallet. As a result, æternity lost [https://blog.aeternity.com/parity-multisig-wallet-hack-47cc507d964d 82000 ETH,] nearly 40% of the total raised."''

=== Token allocation ===
=== Utility ===
=== Token Details ===
=== Stablecoin ===
== Tech ==
* [[Whitepaper]] can be found [https://aeternity.com/aeternity-blockchain-whitepaper.pdf here] (1-2017).
* Code can be viewed [insert here].
* The protocol is [https://medium.com/on-the-origin-of-smart-contract-platforms/on-the-origin-of-%C3%A6ternity-99c6fde78d13 written] in the [[Erlang]] language (13-7-2018):

''"The æternity platform is written in Erlang, a concurrent, functional language that is designed for 0% downtime. Erlang provides built-in support for [https://en.wikipedia.org/wiki/Erlang_(programming_language)#Hot_code_loading_and_modules hot code loading], which allows new features and bug fixes to be deployed while the system is running. The æternity core development team consists of several Erlang developers, many of whom came to the project by way of a [https://www.valuewalk.com/2018/01/aeternity-partners-blockchain partnership] with the [https://www.erlang-solutions.com/ Erlang Solutions] consultancy.''

''The æternity project plans to support three different smart contract environments that each serve a different purpose. The first environment is Solidity running on an EVM-compatible virtual machine called the Æternity Ethereum Virtual Machine (AEVM). For contracts requiring greater security, æternity has developed a second environment that uses the Sophia programming language and Functional Typed Warded Virtual Machine (FTWVM). The third smart contracts environment is aimed at eliminating the issues around [https://en.wikipedia.org/wiki/Undecidable_problem decidability] of contract code that introduce complexity such as [http://ethdocs.org/en/latest/contracts-and-transactions/account-types-gas-and-transactions.html#what-is-gas gas metering]. This environment consists of a restricted non-Turing complete scripting language called Varna and a very simple VM called High Level Machine (HLM)."''

* [https://cryptobriefing.com/aeternity-universe-one-incubated-startups/ From] [[Crypto Briefing]] (14-9-2019):
''"[Has] [[state channels]] for [[off-chain]] scaling, [[oracles]] for real-world information, and a naming system for increased user-friendliness. æternity also features [[SDK]]s in [[Javascript]], [[Go|GO]], [[Python|Phyton]], [[Java]]"''
=== Transaction Details ===
* Capacity ([[TPS]]):
* [[Latency]]:
=== How it works ===
=== Mining ===
* Will use [[DRM]] for [[mining]].

* From this [https://medium.com/on-the-origin-of-smart-contract-platforms/on-the-origin-of-%C3%A6ternity-99c6fde78d13 article] (13-7-2018):

''"æternity’s [[Proof-of-Work (PoW)|PoW]] is based on the [https://github.com/tromp/cuckoo/blob/master/doc/cuckoo.pdf Cuckoo Cycle] algorithm, a memory bound puzzle, which is believed to be [[ASIC]]-resistant. The æternity vision of users [[mining]] on their mobile phones was [https://bitcointalk.org/index.php?topic=1733140.msg40014525#msg40014525 set back] when cryptocurrency mining on iPhones was [https://venturebeat.com/2018/06/11/apples-app-store-officially-bans-cryptocurrency-mining banned] by Apple."''

=== Staking ===
=== Liquidity Mining ===
=== Different Implementations ===
=== Interoperability ===

=== Scaling ===

* From this [https://medium.com/on-the-origin-of-smart-contract-platforms/on-the-origin-of-%C3%A6ternity-99c6fde78d13 article] (13-7-2018):

''"Although æternity’s Reimagined white paper [https://github.com/aeternity/aeternity-reimagined/blob/master/consensus.md describes] using GHOST to improve transaction throughput, this [https://www.pivotaltracker.com/story/show/152474945 no longer appears] to be on the project’s development [[roadmap]]. Instead, æternity is employing [[Bitcoin-NG]] to scale the base layer. Bitcoin-NG obviates the need for GHOST because, even though the average time between blocks remains relatively long, Bitcoin-NG allows additional transactions to be processed during this time. The miner who finds a solution to the Cuckoo Cycle puzzle earns the right to produce a key block with their solution and then can continue producing microblocks with additional transactions until the next miner solves the puzzle and earns the right to do the same. The protocol includes a fee sharing mechanism to incentivize miners to build on the [[Longest Chain|longest chain]] of microblocks rather than serialize existing microblock transactions into their own microblocks."''

=== Other Details ===
== Privacy Method being used ==
=== Compliance ===
== Oracle Method being used ==

* From this [https://medium.com/on-the-origin-of-smart-contract-platforms/on-the-origin-of-%C3%A6ternity-99c6fde78d13 article] (13-7-2018):

''"Built-in support for [[oracles]], which æternity [https://github.com/aeternity/aeternity-reimagined/blob/master/overview.md claims] will be more flexible and universal than those currently being built on Ethereum, may enable a wider range of applications to be built on æternity. At a minimum, having a standard, built-in mechanism for oracle interaction [https://blog.aeternity.com/blockchain-oracles-657f134ffbc0#b355 simplifies the developer’s life] by allowing them to focus on their application, rather than having to set up and integrate with a third-party oracle. This [http://david.heinemeierhansson.com/2012/rails-is-omakase.html omakase] approach to framework design was fundamental to the power and popularity of the [https://rubyonrails.org/ Ruby on Rails] web development platform. A key to Rails’s success, which æternity would be wise to emulate, is the ability and willingness to swap out the default components as better technologies come along."''

== Their Other Projects ==
=== DEX ===
== Governance ==

* From this [https://medium.com/on-the-origin-of-smart-contract-platforms/on-the-origin-of-%C3%A6ternity-99c6fde78d13 article] (13-7-2018):

''"æternity proposes to use [[On Chain|on-chain]], [[Proof-of-Stake (PoS)|stake]] based voting to decide on protocol improvements, which can range from simple parameter changes ([[Block Size|block size]], frequency, rewards, etc.) to new feature implementations. The built-in mechanism will allow users to make proposals for software upgrades and vote on them using their stake (balance of AE tokens). Votes are weighted by the amount of stake, and users may delegate their voting stake to (presumably) more knowledgeable voters to vote on their behalf. Although æternity’s marketing team may have [https://forum.aeternity.com/t/consensus-mechanism/52 created some confusion] by describing their platform as implementing [https://blog.aeternity.com/democratizing-blockchain-forks-2460ff245c4e#491f hybrid PoW/PoS consensus], this illustrates their view that governance is essentially a separate but related consensus layer. In æternity [[PoW]] consensus is used to get nodes to agree on the order of transactions and [[PoS]] consensus (i.e. stake based voting) is used to get community participants to agree on the PoW consensus rules."''

=== DAO ===
=== Self Funding Mechanism ===
== Upgrades ==
== Roadmap ==
* Can be found [Insert link here].
== Audits ==
* [[Bug bounty]] program can be found [insert here].
=== Bugs ===
== Usage ==
=== Projects that use or built on it ===
== Competition ==

* Smart contract platforms.

* From this [https://medium.com/on-the-origin-of-smart-contract-platforms/on-the-origin-of-%C3%A6ternity-99c6fde78d13 article] (13-7-2018):

''"In contrast to [[Ethereum (ETH)|Ethereum]], which is [https://github.com/ethereum/homestead-guide/blob/master/source/introduction/what-is-ethereum.rst#user-content-ethereum-virtual-machine featureless] by design, æternity has opted to include certain features in the platform as “first class objects” to simplify the development of decentralized applications ([[Decentralized Applications (DApps)|dApps]], or [https://blog.aeternity.com/frequently-asked-questions-faq-%C3%A6pps-f1dd832fa704 æpps] in æternity lingo)."''

== Coin Distribution ==
== Pros and Cons ==
=== Pros ===
=== Cons ===
== Team, Funding, Partnerships, etc. ==
=== Team ===
* [[Yanislav Malahov|Malahov, Yanislav]]; founder, calls himself the Godfather of [[Ethereum (ETH)|Ethereum]] https://medium.com/@yanislav/king-of-bitcoin-godfather-of-ethereum-a9af9ecf56d5 
* Hess, Zack; technical lead, His first "basic coin" was the attempt to write the most compact [[blockchain]]. Years later, after having worked for [[Augur (REP)|Augur]] and built a few other blockchains from scratch, he is now leading æternity's technical implementation.

* [[Robert Virding]]; co-founder and dev
* John Hughes, dev (co-designer of [[Haskell]])
* Ulf Norell, dev (co-designer of the [[Agda]])

=== Funding ===
=== Partners ===

== Æternity Ventures ==
* [https://cryptobriefing.com/aeternity-universe-one-incubated-startups/ From] [[Crypto Briefing]] (14-9-2019):
''"Æternity Ventures was founded in order to support projects leveraging blockchain technology, especially those involved with æternity. It provides funding as well as technological, legal, and marketing support to the companies in its portfolio. They also provide access to a a network of contacts,  aiding the projects in their development.''

''Æternity Ventures runs Starfleet, an accelerator program for a selected group of innovative startups, which work towards bridging the gap between what businesses need and what blockchain has to offer. Currently in its third iteration, some of the Starfleet startups will be presented at [https://aeternityuniverse.com/ Universe One]."''[[Category:Coins/Tokens]]