November 29, 2018
For: payment week
Vaduz, Liechtenstein – 29 November 2018 – æternity, the open source smart contract blockchain protocol, has released Rom, the first live implementation of the next generation blockchain.
The Rome version presents a unique set of technology solutions that address the scalability of blockchain and allow developers to create decentralized applications in Sophia, the functional programming language developed by æternity. The output represents a crucial moment in the history of the æternity project, which allows early adopters, developers and miners to test for the first time and build on a live version of their decentralized network.
Commenting on the exit, the founder of æternity Yanislav Malahov said: "After two years of hard work, æternity has created a system that offers the original promise of allowing faster transactions without sacrificing functionality and decentralization. a completely new architecture based on the lessons learned in the last 10 years of blockchain-focused research The launch of the Roma is an important step towards mainstream adoption.We think of eternity as a centered blockchain on the community.We will continue to develop and propose the incorporation of new features and enhancements to the protocol.Our main goal is to continuously increase the ease of use and improve its usefulness for developers and users. "
The version of Rome allows the community, in particular its technical users, including miners and developers, to adopt a live version of the aeternity platform making it more secure and rewarded for their efforts with AE, the native token of the network. æternity recently received a security check from the Swiss cnlab company, which found that its protocol and node implementation are fit for purpose and that its Base æpp offers the security necessary for commercial use. Rome allows the period necessary for the accumulation, stabilization and decentralization of the mining power of the platform.
Inability to scale is one of the main challenges associated with the adoption of traditional blockchain. To address this problem and improve the cost of use, the æternity protocol incorporates a consensus mechanism developed by the academic world, BitcoinNG, developed by Cornell University researchers. The mechanism improves the Nakamoto Consensus tested in battle used in Bitcoin. æternity also presents the first live implementations of state channel technology based on a functional programming language. State channels enable intelligent transactions and contracts to run off-the-shelf, enabling fast peer-to-peer transfer of values in a private and secure environment. This allows users to communicate quickly and economically, reporting the results to the blockchain when security and permanence are required. Furthermore, the reference node of æternity, Epoch, is written in Erlang, a functional language developed by the telecommunications industry for maximum reliability and throughput.
Facing another obstacle on the road to mass adoption of blockchain technology, the incorternity incorporates oracles, naming systems and chain governance. Oracles are essential for smart contracts and can be used as triggers for automated services. Using the æternity blockchain, any user can become an Oracle operator and receive AE tokens for information provided to smart contracts or other users on the network. The integrated naming system makes it possible to refer to smart contracts, oracles and accounts with human-readable names, greatly improving ease of use and reducing costly errors. The governance mechanism within the chain realizes a form of liquid democracy based on blockchain, allowing AE token users to formulate opinions on various topics, including the future of the æternity protocol.
Finally, with the publication of Rom, developers are free to create decentralized applications in Sophia, a functional language developed specifically for smart contracts that aims to address the scalability and security imperfections that afflict other solutions that currently exist.
In the coming months, startup projects supported by æternity Starfleet, the æternity accelerator for blockchain startups based on its platform, will begin to deliver the first decentralized applications on the æternity network, to grow the ecosystem and to test the commercial profitability of various blockchain cases.
For more information on æternity, visit https://www.aeternity.com/
Information about æternity:
Founded in 2016, æternity is a blockchain-based open source distributed computing platform based on encrypted and decentralized P2P technology. Designed to offer unparalleled productivity, transparent governance and global scalability, æternity offers blockchain technology with a consensus mechanism that is as efficient and economical as possible.
By programming complex relationships for a global user base, æternity can handle large volumes of products and information in parallel. The exclusive design of the æternity status channels enables the off-data verification of intelligent data and contracts, allowing all transactions to be independent from one another, thus increasing the speed and scalability transactions while ensuring greater privacy.
The token of the underlying value of æternity is the AE token, which can be transferred between members and is used to compensate for participant nodes for any number of calculations performed. All AE token users are allowed to participate in the governance of the eternity blockchain through a voting process, weighted by the number of tokens that each user holds.