Aeternity Blockchain
| Aeternity is a blockchain network that operates on a hybrid PoW/PoS consensus protocol. Aeternity is designed to address some of the limitations of current blockchain platforms, such as scalability, governance, and smart contract functionality. Aeternity’s consensus protocol is a hybrid of Proof-of-Work (PoW) and Proof-of-Stake (PoS). Under this protocol, miners are rewarded for validating transactions and creating new blocks. In addition, Aeternity uses a novel consensus mechanism called “Aergo” that is designed to be more efficient than PoW or PoS. Aeternity’s scalability solution is based on “state channels”. State channels are off-chain channels that allow two parties to transact without having to broadcast their transactions to the entire network. This allows for near-instantaneous transactions and reduces the load on the blockchain. Aeternity also has a governance model that is designed to be more decentralized than other blockchain platforms. Under this model, there is a “Council of Elders” that is responsible for governance decisions. The Council is elected by Aeternity token holders. Finally, Aeternity has a built-in programming language that allows for the creation of smart contracts. Smart contracts are self-executing contracts that can be used to automate transactions. Aeternity is a blockchain platform that has the potential to solve many of the problems that currently plague blockchain technology. With its hybrid consensus protocol, state channels, decentralized governance model, and smart contract functionality, Aeternity is well-positioned to become a leading blockchain platform. |
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